Author: FX
Copper Trading: Copper Trading Tips and StrategiesCopper is a highly tradeable commodity.Copper is priced in US Dollars; so the price of the dollar affects the price of copper.Copper is gaining more traction as an investment option along with various other alternatives. As looked at in our primer for copper, copper prices tend to do well when emerging markets are growing as demand derives from building and construction.Trading strategies for copper can include both technical and fundamental analysis.Copper is a global commodity that has several key uses throughout industry and is highly correlated to economic growth. Copper trading is often used…
That figure is lower than the $87.80 consensus seen last month, despite the news that China is staying firmly on course to re-opening its economy. Meanwhile, Brent crude is seen averaging $89.37 next year and that forecast is down from the $93.65 consensus from the November survey.According to the poll, the impact of sanctions on Russian oil is expected to be minimal with Goldman Sachs noting that “we do not expect an impact from the price cap, which was designed to give bargaining power to third-country buyers”.It seems like for now, the softening global outlook is weighing on sentiment as…
NYC plans to change to taxable C corporation, announces reverse stock split Source link
SEOUL (Reuters) – South Korea conducted a successful test flight of a solid-propellant space launch vehicle, the country’s defence ministry said on Friday. Earlier on Friday, South Korean media reported multiple citings of an unidentified flying object over the country’s airspace. In June, South Korea’s second test launch of its domestically produced, liquid-engine Nuri rocket successfully placed several satellites in orbit, taking a major step in progressing its space programme. Source link
GBP/USD extends its sideways price movement but could breakout with next week’s U.S. economic data. Source link
The announcement comes via the PBOC and will go into effect from 3 January. This will see the domestic interbank FX market, the ChinaForeign Exchange Trade System (CFETS), observe trading hours until 3.00am local time (from 11.30pm currently).The time for the fixing for the yuan currency and spot closing both remains unchanged though at 9.15am and 4.30pm local time respectively. The change to the trading hours above is said to “promote the development of the foreign exchange market and expand high-level opening”. The full announcement can be found here.ADVERTISEMENT – CONTINUE READING BELOW Source link
Domestic economic momentum will remain a source of strength for the AUD vis-à-vis non-USD currencies. Regarding AUD/USD, the pair is set to stay below 0.70 in the first half of 2023. Strength against crosses The RBA wants to remain on the ‘narrow path’ to a soft landing. As a result, we see the cash rate peaking at 3.85% by mid-2023 and staying there for at least a year. This higher-for-longer story is a key tenet of our medium-term upside bias for the AUD against currencies with more aggressive central banks, such as the NZD and GBP, which will face pressure…
KEY POINTS: Recommended by Zain Vawda Get Your Free EUR Forecast READ MORE: EUR/USD Outlook: Doji Candlestick Highlights Messy Price ActionEUR/USD OUTLOOKEUR/USD enjoyed its best day of gains in 2 weeks with an 80-odd pip upside rally yesterday before finding resistance at the top of its recent trading range around the 1.0700 handle. The dollar index enjoyed a modest bounce as well from its lows around 103.50 which helped push the pair back below 1.0650 in early European trade.As we enter the last trading day of 2022 the rebound in the dollar index could be partly attributed to investor repositioning,…
And that is despite a surging recovery in the currency over the past two months, with USD/CNY having 7.30 at the peak in late October to early November. The over 8% decline will be the worst performance by the Chinese onshore yuan against the dollar since 1994 when China unified market and official rates.I’ve argued plenty of times during the course of the year that if China is allowing its currency to weaken, that is a major tailwind signal for the dollar to extend higher – as we saw during the August period here.As such, this will continue to be…
At some point in the past five to six years, it was a wonder as to how the Swiss central bank will ever be able to escape negative rates and spur inflation in the economy – much like Japan. Yet, here we are now where policymakers have not only moved on from that but are now actively having to step into the market to strengthen the Swiss franc instead.That last line is definitely something I’d never thought to be typing, even at the start of the pandemic.The latest balance sheet data from the SNB shows that the central bank sold…