Author: FX

Gold price is making tracks to the upside despite the Bank of Japan’s surprise relaxation on the yield of its 10-year bonds (JGBs). US Dollar sinks as the Yen rallies to the moon. US Treasury yields and a hawkish Federal Reserve could be the spanner in the works for the Gold price bulls.  The Gold price is higher on Tuesday due to volatility in the market that has sent the US Dollar lower on the back of a surge in the Japanese Yen following a surprise move by the Bank of Japan (BoJ) in Asian markets. Gold price rallies on Bank of Japan’s surprise…

© Reuters. FILE PHOTO: International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo WASHINGTON (Reuters) – The World Bank on Tuesday said it had approved an additional financing package totaling $610 million to address urgent relief and recovery needs in Ukraine as Russia’s war continues. The package includes an additional $500 million loan from the World Bank’s International Bank for Reconstruction and Development, that is supported by a guarantee from Britain, and a new project to restore and improve access to health care and address war-related needs for health…

The Japanese yen took the spotlight today after a surprise policy move from the Bank of Japan. This turned CAD/JPY as the forex pair to watch this week ahead of top tier catalysts from Canada on Wednesday. CAD/JPY 4-hour Forex Chart Yen bulls came back raging like Black Adam from his eternal prison after the Bank of Japan stunned the markets by raising the cap on 10-year Japanese bond yields to 0.50% from 0.25%. Traders seem to be taking this a potential shift away from their easy monetary policy stance, which they’ve held despite rising inflation data and the tightening…

The GBPUSD Read this Term moved above its 200 day moving average on the first trading day of December, and after retesting that moving average on December 6 and December 7, the price extended up to the 61.8% retracement of the 2022 trading range at 1.24507 where sellers leaned against the level. Since then the price has returned back toward the falling 200 day moving average currently at 1.20899. The price low today dipped below that level briefly to a low of 1.20845, but has bounced back higher and currently trades at 1.2145.GBPUSD holding the 200 day moving averageTechnically, on…

Yens keeps rising across the board after Bank of Japan’s surprise.  USD/JPY drops by more than 4% on Tuesday.  US dollar mixed across the board, on risk appetite.  The USD/JPY dropped even further during the American session and bottomed at 131.00, the lowest intraday level since August 2. It remains near the low, falling more than 550 pips or 4.15%.  The pair is headed toward the lowest daily close since June with the Yen having one of the biggest daily gains across the board boosted by the decision of the Bank of Japan to raise the upper banks of its…

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With the holiday season in full swing and only a few days left until the end of 2022, it’s time for traders to close up shop. So, how exactly do you wrap up your trading year so that you’ll be ready to hit the ground running when the holidays are over? Here are four simple steps: 1. Minimize your risk exposure Better yet, close all your forex positions. The major currencies aren’t likely to make any significant movements over the holiday week. A couple of pips worth of gains aren’t worth the hassle of having to check price action while…

Most traders know about momentum trading, trend reversals and trend following trading strategies. However, many traders overlook mean reversal trading. This is because mean reversal trading strategies often do not carry as much allure to it as the other types of trading strategies. While trend following and trend reversal strategies often offer high yields for a single trade setup, mean reversal strategies bank on lower yields on each trade with a higher percentage of wins. This steady but surely approach might not be as exciting as winning the lottery approach, it is a viable way to trade the forex market…

A more dovish BOE and a more hawkish Fed helped to set the tone last week, with a selloff in equities also helping the dollar recover well after the softer US CPI data just seven days ago (felt like much longer now, no?). That resulted in failed breakout attempt to the topside with price falling back below the August lows at 1.2276-93 and the 50.0 Fib retracement level of the swing lower from last year, seen at 1.2306 roughly.The retreat has resulted in a push back towards the 200-day moving average (blue line) earlier today, seen at 1.2088 currently. That…

FX option expiries for Dec 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts         – USD/JPY: USD amounts                      – AUD/USD: AUD amounts   – NZD/USD: NZD amounts Source link