Author: FX
Crude oil futures are settling up $0.40 or 0.66% and $60.88. The gains come in ahead of expectations OPEC will increase production.OPEC+ is widely expected to increase production, but the size of the hike is still being debated. Reports suggest the group may raise output in November by anywhere from ~140,000 barrels per day (Goldman Sachs estimate) to as much as 274,000–411,000 bpd. In September, OPEC already lifted production by about 330,000 bpd as it continues unwinding earlier cuts. Saudi Arabia is said to be pushing for more aggressive increases to regain market share, while Russia is taking a more…
The Australian Dollar (AUD) holds modest gains versus the US Dollar (USD) on Friday, supported by a weaker Greenback as the United States (US) government shutdown drags on and the ISM Services Purchasing Managers Index (PMI) softens.At the time of writing, the pair is changing hands near 0.6600, trimming earlier gains, still on track for its first weekly advance in three weeks. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is hovering near 97.72, just above the weekly low of 97.46.Earlier in the day, data from the Institute for Supply Management…
Jayud Global Logistics announces a 1-for-50 reverse stock split Source link
The Pound Sterling advances some 0.26% on Friday as the US government began its third day of shutdown and skipped the release of Nonfarm Payroll figures for September. Source link
The Euro (EUR) trades with a modest bid against the US Dollar (USD) on Friday, with EUR/USD stuck within this week’s range of 1.1750-1.1700. At the time of writing, the pair is trading around 1.1745, up about 0.22% on the day, as traders weigh the latest Eurozone and US PMI reports for clues on growth momentum and monetary policy outlook.The Greenback remains under pressure as the United States (US) government shutdown stretches into its third day, heightening concerns about near-term growth and fiscal stability. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major…
The Pound Sterling (GBP) advances some 0.26% against the US Dollar (USD) on Friday as the US government began its third day of shutdown and skipped the release of Nonfarm Payroll figures for September. Purchasing Managers Index (PMI), data from S&P Global and ISM in the US, are the main drivers of price action. GBP/USD trades at 1.3471 at the time of writing after bouncing off daily lows of 1.3427.GBP/USD climbs as services PMIs flash slowdown signs, while Fed–BoE divergence underpins Sterling strengthBusiness activity in the US deteriorated, according to the ISM Services PMI. The Index dipped from 52 to…
The USDCHF tested the downside on Wednesday, breaking briefly below a swing area between 0.7938 and 0.7947. That move, however, failed to gain momentum as buyers quickly stepped in, snapping the pair back to the upside. By yesterday, the bullish rebound carried the price to a new high for the week, but the rally stalled right at a dual layer of resistance: the 50% retracement of the move down from the August 1 high and the psychological 0.8000 level. Sellers leaned heavily against that zone, forcing the pair into another rotation back to the downside.The latest move lower has now…
If you ask a room full of consistently profitable forex traders what their “secret sauce” is, you’ll probably hear one word again and again: consistency. Sounds simple, right? Well, not really. Achieving consistency in your execution is one of the toughest challenges in trading. Contrary to what rebels may tell you, rules aren’t made to be broken in forex. They’re there to help turn positive trading behavior (a.k.a. what works for you) into habits. Following rules is what breeds consistency. When you’ve got trading rules, you train yourself over time to recognize familiar situations and respond automatically. Instead of wasting…
baonaHuawei Technologies used advanced components from Asia’s largest technology companies in at least some of its advanced Ascend AI processors, Bloomberg News reported, citing TechInsights. TechInsights discovered gear from Taiwan Semiconductor Manufacturing (NYSE:TSM), Samsung Electronics (OTCPK:SSNLF) and Source link
The US Dollar was rejected again at the 0.8000 psychological level against the Swiss Franc, and is trading lower on Friday, weighed by a moderate risk appetite. The pair, however, remains trading range-bound within the weekly range, with 0.7930 holding downside attempts for now.The US Dollar edged up on Thursday, as Fed Dallas President Lorie Logan warned about ccutting interest rates too fast and affirmed that she is not eager to ease monetary policy further, which dented investors’ hopes of a rate cut in October.Weak US employment data has been weighing on the USD this weekUS data, however, confirmed that…