Author: FX
Share: The US Bureau of Labor Statistics announced on Friday that it revised the monthly Consumer Price Index (CPI) for December to +0.1% from -0.1%, based on updated seasonal adjustment factors. For the same period, the Core CPI, which excludes volatile food and energy prices, got revised higher to +0.4% from +0.3%, as reported by Reuters. Market reaction The US Dollar preserves its strength following this announcement. As of writing, the US Dollar Index was trading at 103.40, where it was up 0.2% on a daily basis. Source link
Share: USD/CAD adds to its heavy intraday losses and drops back closer to the weekly low. Bullish oil prices, the upbeat Canadian jobs report boost Loonie and exert pressure. Hawkish Fed expectations, recession fears underpin the USD and should limit losses. The USD/CAD pair extends its intraday retracement slide from the vicinity of the weekly high, around the 1.3475 region and continues losing ground through the early North American session. The downward momentum picks up pace in reaction to the upbeat Canadian employment details and drags spot prices to the 1.3370 area, or the lower end of the…
Share: The data published by Statistics Canada revealed on Friday that the Unemployment Rate stayed unchanged at 5% in January. This reading came in better than the market expectation of 5.1%. Further details of the publication revealed that the Net Change in Employment rose by 150,000, surpassing analysts’ estimate of 15,000 by a wide margin. Finally, the Participation Rate edged higher to 65.7% and the annual wage inflation declined to 4.5% from 4.7% in December. Market reaction With the initial reaction, USD/CAD fell sharply and was last seen losing 0.55% on a daily basis at 1.3380. Unemployment Rate…
As forex traders, we give a lot of thought to stop loss placement. After all, it is a crucial part of risk management. Knowing where and when to exit is vital if you want to protect your capital. But notice that not enough attention is given to profit targets, which is a pity because being able to maximize profits can greatly affect one’s bottom line. Traders who have difficulty letting winners run may miss out on big moves in fear of losing potential forex profits. In the long run, such traders tend to have a hard time staying profitable because…
jetcityimage/iStock Editorial via Getty Images Kroger (NYSE:KR) and Albertsons Companies (NYSE:ACI) have identified up to 300 stores to sell in a bid to please regulators, according to Reuters. Citing people familiar with the matter, the outlet indicated that between 250 and 300 stores are due to be on the block as the grocery giants seek approval for their merger. The total value of the stores is reported to be around $1B. The merger has also faced pushback from consumers as of late, with 25 shoppers filing a federal lawsuit against the chains to block the combination. “Kroger’s plan to acquire…
US Dollar (DXY) AnalysisUS dollar waiting game continues ahead of next week’s CPI data with the 50 SMA in focus once moreConsolidating DXY symptomatic of a market waiting for the next catalyst. Key levels to watchUniversity of Michigan Sentiment and more Fed speak into the end of the weekThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free USD Forecast Dollar Exercises Patience Ahead of Inflation data Next WeekFed officials have been out in their numbers this week to…
Introduction to the MACD Histogram Multi Timeframe Multi Color Indicator Seasoned traders know how important it is to trade based on the confluence of multiple timeframes. This is because trading based such confluences allow for trade setups which have significantly higher win probabilities compared to trade signals with no confluences. This indicator allows users to analyze momentum based on multiple timeframes using a MACD oscillator. What is the MACD Histogram Multi Timeframe Multi Color Indicator? The MACD Histogram Multi Timeframe Multi Color Indicator is a momentum oscillator which is a modified version of the classic Moving Average Convergence and Divergence…
GOLD OUTLOOK & ANALYSISFed speakers and consumer sentiment in focus.Technical analysis suggests more downside to come – potential death cross, bear flag breakout. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold prices have come under pressure with the USD finding support post-NFP. This Friday, the greenback has faltered slightly giving spot gold some relief ahead of the Michigan consumer sentiment release later today (see economic calendar below). Expectations are for a more optimistic outlook for February than January and any upside beat could see the dollar higher and gold under pressure once more. That being said,…
The decision by Russia is to voluntarily cut oil output by 500k bpd in March, with Novak stating that this will “facilitate the restoration of market relations”. He also adds that Russia may take further actions depending on the market situation and it is being reported that Russia did not consult with OPEC+ on the decision.If anything else, the fact that Russia is acting independently is a major blow to those hoping for some kind of stability in the outlook for the oil market. You have to wonder what Saudi Arabia has to say about this and if this will…
Canada is about to print its employment report for January! How might EUR/CAD react to this area of interest during the release? Before moving on, ICYMI, yesterday’s watchlist looked at AUD/USD’s ascending triangle ahead of China’s CPI and PPI reports. 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: RBA upgraded forecasts for core inflation and wage growth RBA Statement on Monetary Policy: More rate hikes to come Chinese headline CPI rose from 1.8% to 2.1% y/y in…