Author: FX
Amazon, Polygon (MATIC/USD), and GBP/USD are hitting major resistance levels on their daily time frames! Will we see rejections in the next few days? Or can bulls execute breakouts for them assets? Let’s take a closer look at their charts! Amazon.com, Inc (AMZN): Daily Amazon.com, Inc (AMZN) Daily Chart by TradingView Breakout alert! In case you didn’t notice, Amazon broke above a months-long trend line resistance a few weeks ago. But before you price in the reversal of a long-term downtrend, you should also note that the stock is approaching the tricky 102.00 – 107.00 zone that may rain on…
© Reuters. FILE PHOTO: A man walks past Bank of Japan’s headquarters in Tokyo, Japan, June 17, 2022. REUTERS/Kim Kyung-Hoon/File Photo TOKYO (Reuters) – A panel of academics and business executives on Monday urged the Bank of Japan to make its 2% inflation target a long-term goal, instead of one that must be met as soon as possible, in light of the rising cost of prolonged monetary easing. In the proposal, the panel also called for the need to have interest rates rise more in line with economic fundamentals, and normalise Japan’s bond market function. The panel includes members such…
US Dollar, DXY Index, USD, Fed, FOMC, China, CSI 300, Hang Seng – Talking PointsThe US Dollar remains range bound as the Fed meeting loomsAn impending tightening by the BoE and ECB also clouds expectationsChina’s re-opening might provide a bright spot. Will that send the DXY index lower? Recommended by Daniel McCarthy Get Your Free USD Forecast The US Dollar continues to tread water to start the week ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday.The market is anticipating a 25 basis point (bp) lift in the target rate. Friday’s PCE inflation data suggests that a slowing…
It’s gonna be a busy NFP week, as three central bank decisions are also coming up! Not only do we have the FOMC statement, but we’ll hear from the folks over at the BOE and ECB, too. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched potential market movers this week: Major Economic Events: New Zealand quarterly employment change (Jan. 31, 9:45 pm GMT) – First to rock the forex boat this week might be New Zealand’s economic data, as the country…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
As per the latest weekly update from China’s Center for Disease Control and Prevention (CDC), reported by Reuters, “China’s current wave of COVID-19 infections is nearing an end, and there was no significant rebound in cases during the Lunar New Year holiday.” The news also quotes an anonymous CDC official as saying, “The number of severe COVID cases and deaths was also trending downward.” Also read: China Cabinet aims to boost consumption and imports Market reaction The news should have underpinned the AUD/USD upside due to the likely positive impact on the market sentiment amid China-linked optimism. However, the Aussie pair…
Japanese candlesticks have been one of the most revolutionary innovations in trading. In spite of its simplicity, Japanese candlesticks had so much impact in technical trading. In fact, most traders today use Japanese candlesticks as their charting style. Japanese candlesticks are so effective as a charting method because it simplifies how traders view their price charts, while at the same time telling the story of how price moved. Basic bar charts may look like simple opens, closes, highs and lows of price movements. However, with Japanese candlesticks, price charts tell a story of how price pushed back and forth across…
Crude Oil, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China, Contango – Talking PointsCrude oil prices found some support today as China returns from holidaysOffsetting Chinese optimism, the Fed, BoE and ECB are set to hike this weekOPEC+ will be meeting on Wednesday and contango remains in play for WTI Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil has steadied to start the week as China returns from the Lunar New Year holidays and ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday.Both the WTI and Brent futures contracts took a beating on Friday as…
Meta Platforms formerly known as Facebook, Inc.) will report its earnings result for Q4 2022 on 1st February (Wednesday), after market close. The technology conglomerate with market cap nearly $400B which is based in California, USA engages in connecting people and community as well as helping businesses to grow through its Family of Apps (FOA) including Facebook, WhatsApp, Instagram, Messenger etc. The latest project that the company is working on is the development of augmented and virtual reality related consumer hardware, software and content (these are grouped under the Reality Labs (RL) segment), hoping to expand beyond 2D screens into the…
By Ambar Warrick Investing.com– Gold prices kept to a tight range on Monday as traders hunkered down in anticipation of a Federal Reserve meeting this week, with focus also remaining on any signs of slowing economic growth across the globe. The Fed is widely expected to on Wednesday. But the central bank’s stance on future rate hikes will be closely watched, given that recent data has painted a somewhat mixed picture of the U.S. economy. While inflation eased as expected in recent months, it still remained well above the Fed’s 2% annual target. The U.S. job market and economic growth also…