Author: FX
The US Dollar (USD) added to the ongoing recovery, hitting new multi-day highs and surpassing its critical 200-day SMA despite declining US Treasury yields and amid rising caution prior to the release of Thursday’s Nonfarm Payrolls (NFP).Here’s what to watch on Thursday, November 20:The US Dollar Index (DXY) clocked its fourth consecutive day of gains on Wednesday, advancing past the psychological 100.00 hurdle as market participants assessed the latest FOMC Minutes and geared up for the upcoming US jobs report. The October’s Nonfarm Payrolls will take centre stage, seconded by the Philly Fed Manufacturing Index, Existing Home Sales, and the…
Japan’s central bank is stuck between a rock and a political hard place! The Bank of Japan (BOJ) wants to keep lifting interest rates because inflation has been above target for what feels like forever. But the new Prime Minister, Sanae Takaichi, is a long-time fan of easy money and wants to pump up the economy instead. This political squeeze play matters to traders because the fight is pushing around currencies, bonds, and equities. The way it plays out will likely steer the Japanese yen, affect global carry trades, and tell us how much independence a central bank really has…
The EURUSD has fallen sharply after testing key resistance in the early U.S. session, where sellers stepped in decisively. As outlined in today’s Kickstart video, that resistance area capped the upside and sparked a reversal. The decline has now pushed the pair below the 38.2% retracement of the move up from the mid-October low at 1.15670, sending price down toward a critical swing area that acted as a floor in October, a ceiling in early November, and a floor again after the breakout on November 7. The last successful test of that floor on November 11 helped launch the rally…
GBP/JPY advances for a third consecutive day on Wednesday, with the British Pound finding support from persistent weakness in the Japanese Yen, offsetting the softer-than-expected UK inflation data. At the time of writing, the cross is trading around 204.85, just shy of the year-to-date high of 205.33 reached on October 8.The Japanese Yen remains under heavy pressure as investors brace for a sizeable fiscal stimulus package under Prime Minister Sanae Takaichi. On Tuesday, a ruling party panel proposed a supplementary budget exceeding ¥25 trillion to fund the new stimulus program, a sharp increase from last year’s ¥13.9 trillion extra budget.The…
Fundamental OverviewThe USD performance has been mixed in the past days but still on net negative despite the decreasing December rate cut odds. It looks like the stock market is what has been driving all other markets.In fact, when the stock market had positive days, we’ve seen Treasury yields and the US dollar rising, but when stocks performed poorly, Treasury yields and the greenback gave back the gains. The market might be thinking that a selloff in the stock market is going to weigh significantly on the economy, eventually requiring the Fed to cut more or more aggressively. The focus…
Here is what you need to know on Wednesday, November 19:The action in financial markets remains relatively subdued early Wednesday following Tuesday’s choppy movements as investors adopt a cautious stance while waiting for the Federal Reserve’s (Fed) October meeting minutes and Nvidia’s earnings report. The US Dollar (USD) captured safe-haven demand and held resilient against its rivals on Tuesday as the selloff in risk-sensitive assets continued. Wall Street’s main indexes lost about 1% on the day and the USD Index closed marginally higher. Early Wednesday, US stock index futures trade mixed, while the USD Index moves sideways slightly above 99.50.…
The USD Strength Effect MT4 Indicator measures the power of the U.S. dollar relative to a basket of other major currencies. By analyzing price movements and market trends, it calculates a strength score that updates in real time. Traders can quickly identify when the dollar is gaining momentum or losing power, which can improve entry and exit timing. This indicator is especially useful for those who trade currency pairs like EUR/USD, USD/JPY, or GBP/USD, as it highlights which direction the market is favoring. Benefits of Using the Indicator Using this indicator helps traders reduce guesswork and make more confident decisions.…
Tesla received a ride-hailing permit this week from Arizona regulatorsopening the door for the automaker to begin operating a robotaxi service in the state Tesla applied for permit on November 13 Tesla met the requirements to operate as a TNC and is permitted as of November 17permit is the final regulatory step to launch a robotaxi service in Arizona This article was written by Eamonn Sheridan at investinglive.com. Source link
EUR/CAD appears to have completed a reversal chart pattern and is currently testing its neckline. Will it break out and confirm a new trend soon? Better keep your eyes on this support zone on the 4-hour time frame! EUR/CAD 4-hour Forex Chart by TradingView Improving economic data from Canada appear to be weighing on easing expectations for the Bank of Canada (BOC), giving the Loonie a fighting chance against its forex counterparts. EUR/CAD slid back down to test its head and shoulders neckline support around the 1.6200 major psychological mark, and a break lower could signal that a downtrend is…
EUR/USD is back near a key area of interest after pushing above a major resistance zone! Will the pair head higher in the next trading sessions? Let’s zoom in on the 4-hour time frame: EUR/USD 4-hour Forex Chart by TradingView The release of better-than-expected mid-tier U.S. reports and less dovish remarks from FOMC members got traders second-guessing their December interest rate cut speculations. Meanwhile, mixed mid-tier data from the Euro Area and ongoing tensions between Russia and Ukraine may be keeping a lid on EUR demand. All these may change in the next few days as the Fed releases its…