Author: FX

© Reuters. FILE PHOTO: The United Nations logo is seen at the 2019 United Nations Climate Action Summit at U.N. headquarters in New York, U.S., September 23, 2019. REUTERS/Lucas Jackson By Michelle Nichols and Charlotte Greenfield UNITED NATIONS/KABUL (Reuters) -The United Nations “received word of an order” by the Taliban authorities banning Afghan women from working for the world body in Afghanistan, U.N. spokesman Stephane Dujarric told reporters in New York on Tuesday.      Dujarric said this was the latest in a “disturbing trend” undermining the ability of aid organizations to work in Afghanistan where some 23 million people -…

USDJPY pulled below the 200 hour moving averageThe price is back down and extending to a new session low at 131.63. The low of the swing area between 131.551 and 131.84 is within sellers view. A break below that level gives the sellers more comfort. For the buyers, it raises the concern that the sellers are assuming more control (and they are offsides).. Source link

Share: Factory Orders in the US declined more than expected in February. US Dollar Index stays in negative territory below 102.00. The data published by the US Census Bureau revealed on Tuesday that new orders for manufactured goods, Factory Orders, decreased $3.9 billion, or by 0.7%, in February to $536.4 billion. This print followed January’s decline of 2.1% and came in worse than the market expectation for a decrease of 0.5%. “New orders for manufactured durable goods in February, down three of the last four months, decreased $2.7 billion or 1.0 percent to $268.4 billion, unchanged from the previously published decrease,”…

Oil prices had been pressured by renewed concerns over the global growth outlook, and with Russian supply still finding its way to global markets, it seems OPEC+ saw a sufficient supply overhang to take steps. The alliance yesterday announced a larger cut in production targets. The move pushed prices higher, which will further depress the global growth and demand outlook. With inflation expectations revised up, gold also got a boost. Increased demand for biofuel will also impact agricultural commodity prices going forward. Oil prices had struggled in recent weeks, as supply remained ample and demand expectations were capped by a sluggish…

Gold Price (XAU/USD), Chart, and AnalysisGold eyes a re-test of $2,000/oz.A bullish pennant formation, if held, suggests higher prices. Recommended by Nick Cawley How to Trade Gold Risk market sentiment and US interest rate probabilities, both strong drivers of gold of late, are little changed so far today, leaving the precious metal stuck in a tight trading range. Market’s continue to pare back fears of a further banking crisis, while the probability for one more 25 basis point US interest rate hike is finely balanced. Financial markets also face a shortened trading week with liquidity expected to drain as we…

Hutchmed starts registration phase for cancer trials after talks with Chinese regulator Source link

Trading Leveraged Products is risky USD drifted, returning end of quarter gains on more signs of slowing in manufacturing activity, which had boosted Treasuries yields but after the data reversed the selloff. Implied Fed funds futures dipping too as the market reduced slightly the risk for a May rate hike. US Stock markets closed higher except US100. European futures are slightly higher. Oil held gains above $80 led by OPEC+ and Saudi’s pledge of its own of 500k reduction (“Saudi First”), which was the main driver across assets. Overnight: RBA – held rates unchanged VS expectations…

In case you missed it, OPEC and its major oil-producing friends started the week by announcing surprise production cut plans starting May. The cuts are expected to take out around 1.16 million barrels per day (bpd) worth of supply on top of the 2 million bpd cut announced back in October. Not surprisingly, crude oil prices including Brent crude oil shot higher yesterday. Brent Crude Oil (UKOIL) 4-hour Chart by TradingView UKOIL opened with a gap from Friday’s $80 closing prices to its $83.50 open price on Monday. Coincidentally, that’s above the 100 daily SMA resistance that hasn’t been broken…

Mean reversals are one of the most basic types of trading strategies that traders use to profit from the forex market. However, identifying the peaks and bottoms of a price swing can often be too daunting for new traders. Some technical indicators such as oscillators may help as it provides traders an objective basis for identifying oversold and overbought markets which is a prerequisite for a mean reversal. Stochastic Oscillator The Stochastic Oscillator is one of the most basic indicators that is available for traders. In fact, this is one of the first few indicators which new traders are usually…

I’m on the lookout for potential breakouts on these chart patterns! Check out these triangle formations on the 4-hour chart of EUR/GBP and hourly time frame of USD/CHF. EUR/GBP 4-hour Forex Chart by TradingView This pair has formed lower highs and found support around the .8755 mark, creating a descending triangle pattern since February. A test of support seems to be in order, but technical indicators are giving mixed signals on whether a bounce or a break is due. For one, Stochastic is already starting to pull higher from the oversold region to suggest a return in bullish vibes. In…