Author: FX

The U.K. reported a surprise drop in retail sales! Could this mean more downside for GBP/USD? Or will the upcoming PMI releases turn the tide? Before moving on, ICYMI, yesterday’s watchlist looked at EUR/USD’s uptrend pullback ahead of the ECB statement. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: ECB hiked interest rates from 2.00% to 2.50% as expected U.S. headline retail sales tumbled 0.6% m/m in Nov vs. projected 0.2% dip U.S. core retail sales slipped…

Most traders make money trading trend reversals. Traders would often look for charts that show signs that the market is reversing, either through moving average crossovers, price action patterns or various indications of a possible trend reversal coming from technical indicators. This is a very logical way to make money out of forex trading. Trading trend reversals allow traders to squeeze the most profit out of a single trend by entering the market at the start of the trend and holding on to the trade until the end of the trend. However, catching trend reversals as it starts is very…

Warning: SIDU is at high risk of performing badly Source link

© Reuters. FILE PHOTO: A general view shows the Bank of England building, in London, Britain November 3, 2022. REUTERS/Toby Melville (This Dec. 15 story has been corrected to change Robert Dishner’s location to London from Chicago in paragraph 33) LONDON (Reuters) – The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase – and its eighth this year. The BoE, which is battling double-digit inflation that has unleashed a cost-of-living crisis that is pushing the economy deeper into recession, has raised rates by a combined…

Following the FED’s hawkishness on Wednesday, the ECB took it a step further. The central bank may have slowed down the pace of tightening moves, but the statement made very clear that this is not a sign that rates are anywhere close to the peak and that there will have to be further “significant” tightening to bring rates to restrictive level, in order to dampen demand and thus help to bring inflation down. “This is not a pivot, we are in it for the long game”. EUR rallied & Yields on short term credit erupted…

Should escape a ‘hard landing’ for the economyToo early to talk about the terminal rateHe also says that it is important to have “proportionate” rate hikes, which is a consistent message to Lagarde yesterday – in which she said that they may have to stick with 50 bps rate hikes for a while.ADVERTISEMENT – CONTINUE READING BELOW Source link

Mullen Automotive announces its first purchase order. Randy Marion Auto Group will buy 6,000 Class-1 vehicles. Mullen is not out of the woods, and shareholders should be cautious. To say the EV startup world is a world of fly-by-night operations and high risk is a bit of an understatement but Mullen Automotive (NASDAQ:MULN) is proving not all EV companies are alike. The latest news is a purchase order from Randy Marion Auto Group which is not only a game-changing event but a validation of the string of good news that has come out since October. There is still risk in…

Can you believe it’s the last trading day of the week? End the week on a strong note by taking advantage of Bitcoin (BTC/USD) and GBP/USD pulling back from their established trends. Get ’em while they’re near key inflection points! Bitcoin (BTC/USD) 4-hour Chart Hollah if you’re a crypto tradah! BTC/USD spiked up to 18,400 earlier this week but there were enough bears to drag the OG crypto back to the 17,400 zone. BTC is now consolidating at 17,400 which is close to the 4-hour chart’s 100 SMA and ascending channel support. Stochastic is also pointing to further gains as…

Pardee Resources Company declares $20.00 special dividend Source link

USD/JPY continued its gyrations here today, dipping after its strong Thursday gain toward 137.00. GBP, AUD, NZD, CAD all showed some strength against the USD after its huge surge on Thursday. EUR/USD was off its Thursday lows during the session here also. There was no specific fresh FX news to drive the moves.Preliminary PMIs from Australia and Japan released today were generally poor. Australian manufacturing and services PMIs both fell, services further into contraction, as did Japan’s manufacturing index. Japan’s non-manufacturing PMI rose, helped along by the reopening of tourism more widely. The results provide a warning for the flash…