Author: FX

> The strong US jobs report sent the US dollar sharply higher. What next? A technical look at the EURUSD, USDJPY, GBPUSD and USDCHF in the morning forex technical report ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link

Since its low in October, AUD/USD has been recovering strongly. Economists at Société Générale expect the pair to enjoy further gains. China’s growth spark is benefiting Australia “The Chinese reopening remains the dominant macro theme in FX, while AUD/USD performance is strongly linked to Chinese equities.” “China’s growth spark is also benefiting Australia. Both China and Australia’s trade surpluses have increased, and Australia started the year with the biggest monthly increase in consumer confidence for almost two years.”  “Australian growth should be one of the least impaired in G10 by the global tightening cycle, likely securing further AUD/USD gains.”  …

Ryan Cohen has reportedly taken a large stake in the company. AMC stock is up 3% against a declining NASDAQ. US Dollar strength caused by a hot NFP figure is hurting equities. JWN stock has traded up as much as 35% in Friday’s premarket. As if there was not enough news this week, meme stock empresario Ryan Cohen – famous for founding Chewy (CHWY) and investing in GameStop (GME), AMC Entertainment (AMC) and Bed Bath & Beyond (BBBY) – has taken a stake in upscale fashion retailer Nordstrom (JWN). The stock has sailed up more than 35% in Friday’s premarket, and…

© Reuters. FILE PHOTO: French designer Paco Rabanne poses after his Spring-Summer ready-to-wear women’s fashion collection for 2004 in Paris, October 11, 2003. PARIS (Reuters) – Paco Rabanne, the Spanish-born designer best known for his metallic ensembles and space age designs of the 1960s, has died at the age of 88 in Portsall, Britanny. The death of Francisco Rabaneda y Cuervo, Paco Rabanne’s birth name, was confirmed by a spokesperson for Spanish group Puig, which controls the Paco Rabanne label he exited two decades ago. Source link

US Dollar (DXY) Price and Chart Analysis Recommended by Nick Cawley Trading Forex News: The Strategy Most Read: US Dollar (DXY) Latest: The Fed’s Dovish Nudge Sends the US Dollar TumblingTotal nonfarm payroll employment increased by 517k in January, and the unemployment rate fell to 3.4% according to the US Bureau of Labor Statistics. Hourly earnings also beat expectations. Last month’s NFP figure was also revised higher from 223k to 260k.‘ Job growth was widespread in January, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return…

Major Central Bank Roundup and AnalysisFed: The Fed still has questions around softer inflation but markets call its bluffBank of England hints at a rate pause but keeps the door open to further hikes if requiredA unified ECB calls for multiple 50 bps hikes after this one as core inflation refuses to budgeThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Traits of Successful Traders The Fed Still has Questions around Softer Inflation but Markets Call its Bluff on Rate HikesDecision:…

The strongest to the weakest of the major currenciesWith the central bank rate decisions in the rearview mirror and the earnings from the “Big 3 A’s”- Amazon, Apple and Alphabet – also behind us (and they were not great for them), the next focus is the US jobs report and it’s implication. The expectations are for:nonfarm payroll plus 185K versus 223K last monthmanufacturing payroll plus 6Kunemployment rate 3.6% versus 3.5% last monthaverage hourly earnings 0.3% versus 0.3% last monthaverage hourly earnings YoY 4.3% versus 4.6% last monthaverage work week 34.3 hours versus 34.3 hours last monthOf note is there will…

Financial markets are off to a pretty good start this year, as we’re seeing sizable rallies left and right. It can be tempting to hop in those huge price swings while they’re happening, but is it true that only fools rush in? Here are some quick questions you can ask yourself before you even think about chasing a move: 1. Am I feeling FOMO? No, FOMO doesn’t mean “FOcused and MOtivated.” The fear of missing out (FOMO) is a very common emotion among traders, and it might be something that you need to be aware of before attempting to join…

Could GBP/USD drop towards the 1.2050 level? Looking at GBPUSD’s chart, we can see that the FX pair is dropped to the current rate of around $1.2188, reaching a new low for the week. At $1.2180 we expect a technical reaction as that level is the support level of the forex pair, but if it fails to hold above that level, then it could drop towards its next support level which is located at around $1.2050. Read more… GBP/USD rebounds from 50 DMA support, climbs back above mid-1.2200s ahead of US NFP The GBP/USD pair finds decent support near the 50-day…

EUR/USD Price and AnalysisEUR/USD ticks up on better growth dataThe European Central Bank’s Thursday rate rise was as expected and didn’t offer much supportUS Data will be in focus as the session goes on Recommended by David Cottle How to Trade EUR/USD The Euro managed modest gains against the US Dollar on Friday, helped in part by news that the Eurozone economy managed some growth last month.The S&P Global’s Composite Purchasing Managers Index for the currency bloc climbed to a seven-month high of 50.3 in January. That was above both December’s 49.3 and a preliminary reading of 50.2. The figure…