Author: FX
Share: Siler gains traction for the second straight day and recovers further from the YTD low. The setup favours bearish traders and supports prospects for further near-term losses. A sustained strength beyond the $22.00 confluence could negate the negative outlook. Silver builds on the previous day’s recovery move from the $20.40 area, or a nearly four-month low and scales higher for the second successive day on Wednesday. The white metal, however, trims a part of its intraday gains and trades around the $21.00 mark, still up nearly 0.50% for the day heading into the North American session. Looking…
Having second thoughts about a trade strategy isn’t always a bad thing. In fact, rethinking can actually be more beneficial for your trading and here’s why. As in other areas outside of trading, the act of questioning our convictions can be unnerving since it makes the world (or the markets) appear even more unpredictable. American author and psychologist Adam Grant wrote in his book Think Again: “Rethinking is a skill set, but it’s also a mindset. It requires us to admit that the facts may have changed, that what was once right may now be wrong.” While self-doubt runs the…
The new month sets off with an upbeat risk-on mood, as the dollar retreats below a monthly high. Dollar The greenback rolls into midweek having continued its advance, reaching levels last seen around January 6 2023, before pulling back sharply. Bullish Factors driving this mixed mood in the U.S currency can be attributed to a risk averse financial market in the beginning of the week, mostly driven by geopolitical tensions between the West and Russia, as well as a continued hawkish rhetoric from the FED. Bearish factors driving the current price, can be attributed to the Softer U.S data that…
Magnite appoints new technology chief Source link
GBP/USD PRICE, CHARTS and ANALYSIS:UK Mortgage Approvals Decline for a Fifth Consecutive Month.EU-UK Deal Optimism May be Misplaced as Benefits for the Broader UK Economy are Expected to be Minimal.Technicals Providing a Host of Conflicting Signals at the Moment as the 1.2100 Level Holds Firm.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section. Recommended by Zain Vawda Get Your Free GBP Forecast Most Read: Pound Sterling Reacts Favorably to NI Protocol – GBP/USD, GBP/JPY RiseGBP/USD FUNDAMENTAL BACKDROPGBPUSD enjoyed an 80-pip rally from its Asian session lows before finding some resistance following the…
5/5 © Reuters. A man walks at the site of a crash, where two trains collided, near the city of Larissa, Greece, March 1, 2023. REUTERS/Kostas Mantziaris 2/5 By Stamos Proussalis and Angeliki Koutantou LARISSA, Greece (Reuters) -A passenger train and a cargo train collided head-on in Greece on Tuesday night, killing at least 36 people and injuring 85 as the country’s deadliest rail crash in decades threw entire carriages off the tracks. A fire brigade official said the death toll was expected to rise. Sixty-six of those injured were hospitalised, six of whom in intensive care, the official said.…
iFX EXPO Asia 2023 is the premier event for business networking and collaboration in the financial and fintech space. The event is set to take place from June 20 to 22, 2023, in the vibrant city of Bangkok, Thailand. Following the resounding success of the previous edition, this year the event returns to the exotic city, greater and more vibrant than ever. For over a decade, iFX EXPO has set the standard for high-calibre fintech exhibitions.Why Bangkok?Bangkok is a bustling metropolis and an emerging hub for finance and technology in Asia, with 182 fintech startups and established financial companies based…
Share: European Central Bank (ECB) Governing Council member Madis Muller said on Wednesday, “rate hikes are having an effect but inflation is still too high.” “Expectations of rapid ECB rate cuts are wishful thinking,” Muller added. Market reaction The EUR/USD pair was last seen trading at 1.0637, up 0.60% on a daily basis. Source link
Who’s ready for some crypto trading? In case you missed it, China printed a waaay better-than-expected manufacturing report earlier today. The upside surprise, combined with start-of-month risk-taking helped push the risk-sensitive Bitcoin (BTC/USD) to a key technical resistance. Bitcoin (BTCUSD) 1-Hour Chart by TradingView I’m talking about the $23,800 mark yo! As you can see on the 1-hour chart, the inflection point served as support in late February and held has resistance at least once in the last week. Will the area hold as resistance again today? Moving averages are still on selling mode with both the 100 and 200…
Trading Leveraged Products is risky The USD held at recent highs to close the month, stocks were lower, weighed by weak US data and inflation in Europe surprisingly spiked in France and Spain. Overnight: Chinese PMI data showed manufacturing growing the fastest in 10-years and Services surging (56.3). Australian CPI sank significantly to 7.4% but GDP missed (0.5% vs 0.8%) pulling down the AUD. Upbeat Chinese data has lift European Futures. Gold and Oil both had strong closes to a weak month. FX – USD Index tested back to 105.00 before declining to 104.65 now.…