Author: FX
With markets in Europe and North America closed today and only a few Asian markets open there was little direction on very limited volume. Weak PMI and Housing data from China on Saturday and a poor global outlook from the IMF yesterday start the New Year in the same down-beat way 2022 concluded. The Yen is the biggest gainer today. China’s official Services PMI cratered -5.1 points to 41.6 in December after falling -2.0 ticks to 48.7 in November. This is a sixth consecutive monthly decline, a third straight month in contraction, and the lowest level since February 2020. It…
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Here is what you need to know on Monday, January 2: Major currency pairs remain stuck near Friday’s closing levels on Monday amid thin trading conditions. Bond and stock markets will be closed in Europe and in the US in observance of the New Year holiday. S&P Global will release the final revisions to the December Manufacturing PMIs for Germany and the Eurozone. Early Saturday, the data from China showed that business activity continued to contract at an accelerating pace in December. The NBS Manufacturing PMI dropped to 47 in December from 48 in November and the Non-Manufacturing PMI slumped…
Fret not. I will still update the expiries board through the week but here’s just a quick glance at what is on the board for the week ahead, as of today. Just scanning through, there doesn’t seem to be any that is too noteworthy but we’ll see how the week develops. Markets will be slow to get back into the groove but there is US non-farm payrolls to be wary about later on Friday.For more information on how to use this data, you may refer to this post here.ADVERTISEMENT – CONTINUE READING BELOW Source link
Who’s ready to take long-term setups? If you are, then you won’t want to miss EUR/JPY, EUR/CAD, and Nasdaq’s charts! Check out their daily time frame setups and see if you can make your first profits this week: EUR/JPY Daily Forex Chart Missed EUR/JPY’s ascending channel support bounce at the end of December? You’ll have your chance to jump on a months-long uptrend this week as the pair returns to the daily chart’s 200 SMA. As you can see, the dynamic support line is also just above the channel support on the chart. EUR/JPY buyers can start scaling in at…
Former FTX CEO Sam Bankman-Fried (SBF), currently free on a $250 million bail bond, will reportedly plead not guilty to the alleged FTX and Alameda-related financial frauds in court on Jan. 3. SBF was arrested in the Bahamas at the request of the United States government under suspicion of defrauding investors and misappropriation of funds held on the FTX crypto exchange. Following a court hearing on Dec. 22, SBF was released on bail and is slated to appear in court on Jan.3 before U.S. District Judge Lewis Kaplan in Manhattan. Continue Reading on Coin Telegraph Source link
Forex Trading Course Walkthrough Talking Points:This is the fourth of a ten-part series in which we walk through articles from DailyFX Education. The aim of this series is simplicity while addressing some of the more important aspects of the FX market along with traders’ strategies and approaches. If you would like to access the full suite of educational articles offered by DailyFX, you can get started here: DailyFX Forex for Beginners Now that you have additional insight on analysis in markets, it is time to learn about some of the major players. Whether you’re focused on fundamentals or technical trading,…
Th e concept of “spread” is essential in financial markets, especially Forex. Without spread, most Forex brokers wouldn’t be able to operate normally. What is a spread, how do Forex brokers define it, and what spread types are there? What is spread? There are two counterparts in financial markets, buyers and sellers. Buyers want to buy an asset at the lowest price possible. Sellers, on the contrary, want to sell an asset at the highest price. These two sides create a buying price called Bid and a selling price called Ask. Spread is the difference between Bid and Ask prices.…
EUR/USD seesaws near seven-month high, snaps two-day winning streak. One-week-old previous resistance puts a floor under the prices even as buyers appear to run out of steam. 50-HMA, ascending trend line from December 22 act as additional downside filters. EUR/USD portrays exhaustion of the previous bull-run amid Monday’s holiday-inspired lackluster trading day. Also read: EUR/USD portrays tepid start to 2023 after a volatile year, ECB vs. Fed talks, US NFP eyed In doing so, the major currency pair fades the previous day’s upside break of the one-week-old resistance line, now support. The EUR/USD pair’s retreat also takes clues from the bearish…
Forex Trading Course Walkthrough Talking Points:This is the third of a ten-part series in which we walk through articles from DailyFX Education. The aim of this series is simplicity while covering some of the more important aspects of the FX market along with traders’ strategies and approaches. If you would like to access the full suite of educational articles offered by DailyFX, you can get started at this link: DailyFX Forex for Beginners In our last lesson, we began to open the door into the field of analysis by investigating the comparison between technical and fundamental analysis. The carry trade…