Author: FX
This is such an uncertain market. On the days when the market is weak, the bargain hunters show up. When it’s strong, the nerves take over and the bulls bail out.I don’t see how that kind of volatility ebbs until inflation gets back to about 3% and trending lower. The market is cautiously optimistic about inflation but that ‘cautious’ thinking doesn’t lend itself to the kind of conviction to sustain a bull market unless the data cooperates.Obviously though, data has ebbs and flows. Today’s initial jobless claims data is certainly something to worry about and corporate comments have been positive.…
AUD/USD has surged higher over the past few sessions. Economists at Credit Suisse stick with their bullish bias and look for further gains. Short and medium-term momentum still rising “Medium-term moving averages are close to seeing a bullish cross higher and short-term MACD momentum is very strong, whilst the market is also threatening to break key resistance at 0.7138. A close above here would open up a move to our core objective at 0.7284/7306 next.” “Near-term support moves to 0.7061, below which would suggest a retest of the breakout point at 0.6904/6854. However, only a stable close below the 200DMA…
Hyundai Motor reports Q4 results Source link
GDP continues to show the US economy’s resilience despite warnings of a growth slowdown. Even the employment data showed positive signs in an already tight market Source link
Major economic data has the potential to drastically move the forex market. It is this very movement, or volatility, that most newer traders seek when learning how to trade forex news. This article covers the major news releases, when they occur, and presents the various ways traders can trade the news.Why Trade the News on Forex?Traders are drawn to forex news trading for different reasons but the biggest reason is volatility. Simply put, forex traders are drawn to news releases for their ability to move forex markets. ‘News’ refers to economic data releases such as GDP and inflation, and forex…
It’s been a quiet week so far on the economic data front but that all changes today with a deluge of numbers at the bottom of the hour:Q4 advance GDPDurable goods ordersInitial jobless claimsAdvance goods trade balanceWholesale inventoriesThen at 10 am ET it’s:THe US dollar is a touch softer today despite higher yields. The risk tone has improved with S&P 500 futures up 22 points. Source link
The Dollar languishes before US Gross Domestic Product (GDP) for the first quarter. The greenback could challenge 2023 lows on disappointing figures, economists at Société Générale report. Current set-up in is to sell dips in bonds and rallies in the Dollar “The current set-up in bonds and FX is to sell dips in bonds (lower yields) and rallies in the Dollar. Barring much stronger outcomes for GDP and PCE inflation, investors are unlikely to change tactics today.” “The asymmetric reaction function means that investors won’t hesitate to respond if the data underwhelms, potentially resulting in new 2023 lows for the…
Many traders are preoccupied with finding the perfect point and predicting the correct reversal points. While all this should be theoretically sound, it is quite difficult if not impossible to execute. The perfect entry point is assumed to be the exact spot where price reverses. While I have experienced predicting the right entry points using limit entry orders several times, it is hardly accurate. Often, price would move against my position for several pips before it goes in my direction. Predicting the exact reversal point is like predicting the thoughts of thousands of traders. Not only are you guessing which…
GBP/USD – Prices, Charts, and AnalysisGBP/USD remains near multi-month high levels.US Q4 GDP is the first of two big US economic releases this week.Retail trade data underpins a bullish-contrarian bias. Recommended by Nick Cawley Forex for Beginners The British Pound is relatively unchanged over the week so far with little in the way of important data to move the dial. Any change in GBP/USD has been driven by US dollar strength or weakness and this is likely to remain the case as two high-importance US economic releases near. Today sees the advanced Q4 GDP numbers released at 13:30GMT, while tomorrow…
GasLog Partners Non-GAAP EPS of $0.74 misses by $0.05, revenue of $104.97M beats by $6.67M Source link