Author: FX
France Manufacturing PMI drop to 47.9, less than market expectations Source link
Cautious trading didn’t stop copper traders from breaking a technical resistance! Is the bullish breakout legit? Copper Futures (HG1!) 1-hour Chart by TradingView In case you missed it, copper futures (HG1!) broke above the $4.12 zone that had kept the bulls at bay for most of early February. The base metal is now trading closer to $4.17, which lines up with a mid-channel support on the 1-hour time frame. Are we looking at a sustained upside breakout? The odds favor more buying as traders price in China’s reopening and the prospect of the Chinese government announcing even more stimulus measures…
8/8 © Reuters. People react after an earthquake in Antakya in Hatay province, Turkey, February 20, 2023. REUTERS/Clodagh Kilcoyne 2/8 By Ali Kucukgocmen and Henriette Chacar ANTAKYA, Turkey (Reuters) -Six people were killed in the latest earthquake to strike the border region of Turkey and Syria, authorities reported on Tuesday, two weeks after a larger one killed more than 47,000 people and damaged or destroyed hundreds of thousands of homes. Monday’s quake, this time with a magnitude of 6.4, was centred near the southern Turkish city of Antakya and was felt in Syria, Egypt and Lebanon. Turkey’s Disaster and Emergency…
Some traders earn money by consistently making small profits with a relatively high probability. Some traders take a different approach. They prefer high yielding trades that would turn their fortunes around. Both approaches work very well. In fact, many profitable traders would say they have win rates below 50%, yet they are still profitable. That is because of the high yielding winning trades that they have. Although it may seem counter-intuitive, day trading may probably be a very good opportunity to find high yielding trades. This is because trading on the lower timeframes allow traders to risk lesser than they…
<p style="" class="text-align-justify">That will of course follow the lower house hearing, which will be held at the end of this week on 24 February. As such, expect to hear remarks from Ueda and that might be a trigger for some yen moves when the time comes.</p> This article was written by Justin Low at www.forexlive.com. Source link
I’m seeing consolidation patterns on the 4-hour charts of AUD/JPY and NZD/JPY. Think these pairs are due to break out soon? And which direction might they go? AUD/JPY 4-hour Forex Chart by TradingView First up is this rising wedge pattern formed by higher lows and slightly higher highs on AUD/JPY. The pair has been stuck in this consolidation pattern so far this year, and it looks like it’s ready to bust out soon. Price is hovering close to the wedge resistance just past the 93.00 handle, and moving averages are suggesting that a bullish move is possible. If that happens,…
Share: Silver price holds lower ground near intraday bottom, snaps two-day winning streak. U-turn from key moving average, Fibonacci retracement level joins bearish MACD signals to favor XAG/USD bears. 61.8% Fibonacci retracement adds to the upside filters, $21.40 acts as immediate support. Silver price (XAG/USD) remains depressed around $21.70 during the first loss-making day in three heading into Tuesday’s European session. In doing so, the bright metal portrays a clear reversal from the 200-Hour Moving Average (HMA), as well as the 50% Fibonacci retracement level of its moves between February 09 and 17. Not only the U-turn from…
Swedish Krona, EURSEK, Riksbank, NOK, Crude Oil, US Dollar, AUD/USD, RBA – Talking PointsThe Swedish Krona has been supported by potential hikes from RiksbankThe US Dollar had a quiet session, but a busy US data week lies aheadIf EUK/SEK breaks lower, will the downtrend gain momentum? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Swedish Krona eased slightly today after having a blistering rally yesterday with EUR/SEK hitting a 2-month low.The Riksbank monetary policy meeting minutes revealed a very hawkish tone and core CPI data…
HSBC Holdings reports Q4 results, profit nearly doubles and initiates FY23 outlook Source link
The minutes of the RBA meeting showed that the committee believes the cash rate is currently lower than in many economies, while the data showed a higher than expected breadth and persistence of inflation. They supported continued rate hikes in the coming months (25 bps or 50 bps may be considered, with medium-term inflation expectations holding up well.) On peak interest rates, the Committee noted that this would depend on household income and expenditure outflows, employment and price movements. Chart 1: Japanese manufacturing and services PMI. source: Trading Economics On the other hand, the Asia Pacific trading session saw a…