Author: FX
There are just a couple of expiries to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1475 level. The expiries don’t tie much to any major technical significance but it does sit close to the 2 July high of 1.1472. As such, the expiries could play a part alongside the minor resistance there in keeping EUR/USD price action in check.The currency pair looks to want to come up for air with the dollar dropping further following the softer US PPI data yesterday. So, there is some scope for a further extension…
Gold prices fell in Saudi Arabia on Thursday, according to data compiled by FXStreet.The price for Gold stood at 486.78 Saudi Riyals (SAR) per gram, down compared with the SAR 490.30 it cost on Wednesday.The price for Gold decreased to SAR 5,677.69 per tola from SAR 5,718.71 per tola a day earlier.Unit measureGold Price in SAR1 Gram486.7810 Grams4,867.78Tola5,677.69Troy Ounce15,140.44FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates…
The dollar and the yen are pulling in the same direction on the daily and weekly charts, but the short-term chart shows indecision. Source link
US imposes 25% tariff on some goods from Brazil Source link
Confirmation of a fresh, sustained US strike campaign, spanning two separate waves within a single day, reinforces the market’s existing risk premium on oil tied to Strait of Hormuz security. The targeting of coastal defence and surveillance sites suggests Washington is focused on degrading Iran’s capacity to threaten shipping through the strait specifically, which may offer some reassurance on the immediate risk to tanker traffic even as the broader conflict escalates. Coming alongside reports of retaliatory strikes on Kuwait and Bahrain, the pattern points to a widening rather than narrowing conflict, keeping traders cautious on any near-term de-escalation.—The US carried…
The Bank of Canada left its policy rate unchanged at 2.25% on July 15, pointing to a resumption of economic growth and a gradually improving inflation picture. Source link
The SMC Order Block Indicator MT4 was designed to help traders avoid many of these situations by highlighting areas where institutional buying or selling may have entered the market.Poor entries often lead to unnecessary losses, emotional decisions, and larger drawdowns. Many retail traders chase candles instead of waiting for price to return to important market structure levels. Over time, this habit can reduce consistency, even when the overall market direction is correct.The SMC Order Block Indicator MT4 gives traders a structured way to identify potential demand and supply zones based on Smart Money Concepts (SMC). Instead of guessing where large…
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight a sharp USD/CNH drop to 6.7691, shifting the short-term bias to the downside. They see scope for further weakness, though the 6.7600 support is unlikely to be reached immediately. Over 1-3 weeks, the pair is expected to trade with a downside bias toward 6.7600, while a move above 6.7860 would negate the bearish momentum.Offshore Yuan strengthens as Dollar slips”24-HOUR VIEW: We did not expect USD to drop sharply to 6.7691 (we had expected range-trading). The rapid increase in momentum suggests further USD weakness, even though the major support at…
Soccer-Argentina late show sinks England and sets up World Cup final against Spain Source link
An oversold RSI reading suggests EUR/NZD may be stretched after its recent selloff. Will momentum recover or will support break? Source link