Author: FX

Gold steady near $3,650, close to its record high after near $3,675 seen on Tuesday.US PPI fell 0.1% MoM in August, after a downwardly revised 0.7% gain in July and below forecasts of a 0.3% increase.Technicals continue to show a strong bullish structure, with immediate support at $3,617 followed by $3,556.Gold (XAU/USD) clings to gains on Wednesday after a sharp reversal the previous day, with the metal soaring to an all-time high near $3,675 before retreating to settle at $3,625. At the time of writing, XAU/USD is trading near $3,655, up about 0.80% on the day, extending gains after softer-than-expected…

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 2.6% on a yearly basis in August from 3.3% in July, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 3.3%. On a monthly basis, the PPI declined by 0.1% following the 0.7% increase (revised from 0.9%) recorded in July.Other details of the report showed that the core PPI, which excludes food and energy prices, declined by 0.1% on a monthly basis. The core PPI increased 2.8% on a yearly basis…

Prior was +3.3%Prices m/m -0.1% vs +0.3% expected (prior was +0.9%)PPI ex-food and energy +2.8% vs +3.5% expected (prior was +3.7%)ex-food and energy m/m -0.1% vs +0.3% expected (prior was +0.9%)Ex-food, energy and trade +2.8% y/y vs +2.8% priorEx-food, energy and trade 0.3% m/m vs +0.6% priorTomorrow the CPI report is due. This is a great sign that an undershoot could be coming and US equity futures have jumped. If we get a lower reading that expected on CPI — especially a miss this large — a 50 bps cut is more likely.The sequential drop in PPI ex-food and energy…

The Euro extends its decline against the British Pound for a second straight day.Traders stay cautious ahead of the ECB monetary policy decision on Thursday.Political unrest in France and NATO consultations after Poland’s airspace breach weigh on Euro sentiment.The Euro (EUR) extends its decline against the British Pound (GBP) for a second consecutive day on Wednesday, with the EUR/GBP cross hovering near 0.8643 at the time of writing. The pair is showing some stabilization after briefly touching its lowest level since August 29 earlier in the European session. Investors are reluctant to take big positions ahead of the European Central…

Teck Resources Ltd (TECK – Free Report) shares ended the last trading session 11.3% higher at $39.07. Source link

The MTF Zigzag with 3 Level Indicator is built to display market swings across different timeframes at the same time. Instead of relying on a single timeframe, traders can see how smaller and larger swings align. This makes it easier to identify the overall trend and spot potential reversals. The three zigzag levels highlight minor, medium, and major price moves, giving traders a layered perspective of the market. Why It Stands Out for Traders Unlike the standard zigzag tool, this version adds a multi-timeframe feature, which is especially useful for swing and position traders. By analyzing multiple levels, traders can…

Barclays is now seeing the S&P 500 end the year at 6,450, which is a bump up from their previous forecast of 6,050. Their previous forecast was one of the more bearish ones but the latest change now puts them closer to the median among top market analysts of around 6,500.So far, only Oppenheimer and Wells Fargo have calls for the S&P 500 to wrap up the year above the 7,000 mark. Then, we have BMO Capital at 6,700 and a host of names (Citi, Goldman Sachs, Fundstrat) at 6,600 with Deutsche at 6,550. That is followed by Morgan Stanley,…

China’s August CPI figure reflected a steeper 0.4% year-on-year decline in price levels versus the projected 0.2% dip while the PPI report came in line with expectations of a 2.9% slump. The core inflation’s uptick to 0.9% provides some encouragement, potentially reflecting the impact of demand stimulus measures, though it remains well below China’s annual inflation target of around 2% for 2025. Key Takeaways from China’s CPI and PPI reports CPI fell 0.4% YoY in August, worse than the -0.2% consensus estimate Core CPI rose 0.9% from a year earlier, reaching its highest level since February 2024 Producer prices dropped…

The Ideal ZigZag MT4 Indicator is a technical tool that connects key highs and lows on the chart, ignoring smaller movements that do not impact the bigger trend. This makes it easier to see the overall market direction without getting distracted by minor pullbacks. Traders use it to highlight swing points, map out trends, and even detect potential support and resistance levels. Unlike basic ZigZag indicators, the Ideal version provides more accurate filtering, making it a reliable companion for analyzing price action. How It Helps in Market Analysis One of the biggest advantages of the Ideal ZigZag MT4 Indicator is…

Remember that channel resistance play that we talked about a few days ago? Well, USD/CHF has already slipped to fresh monthly lows since then. Now it’s bouncing back a bit, which could be the market’s way of giving us another shot at riding the downtrend. Check out USD/CHF’s 4-hour chart! USD/CHF 4-hour Forex Chart by TradingView The U.S. dollar has been losing pips to its counterparts as more traders price in a potentially more dovish Fed decision later this month. The Swiss franc, on the other hand, is soaking up safe haven flows with the Russia-Ukraine conflict dragging on and…