Author: FX

NZD/USD gathers strength to near 0.5905 in Monday’s Asian session. China’s Caixin Manufacturing PMI unexpectedly rose to 50.5 in August, stronger than expected. Fed’s Daly said policymakers will be ready to lower interest rates soon.The NZD/USD pair attracts some buyers to around 0.5905 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) after China’s August Caixin Manufacturing Purchasing Managers Index (PMI) report. The US market is closed on Monday due to the Labor Day holiday. Data released by Caixin Insight Group on Monday showed that China’s Manufacturing PMI rose to 50.5 in August from…

Australian Dollar steadies as the US Dollar remains subdued amid rising likelihood of Fed rate cuts.China’s Caixin Manufacturing Purchasing Managers’ Index climbed to 50.5 in August from 49.5 in July.San Francisco Fed President Mary Daly said that policymakers are preparing to lower interest rates soon.The Australian Dollar (AUD) maintains its position after four days of gains. However, the AUD/USD may further advance as the US Dollar (USD) struggles amid rising bets of a US Federal Reserve (Fed) rate cut in the September meeting. United States (US) markets will be closed on Monday for the Labor Day holiday.The AUD/USD pair holds…

Gold price bounces back toward record highs in Monday’s Asian session. Precious metal reverses profit-taking retreat amid a renewed US Dollar selling.Rising Fed rate cut expectations aid Gold’s rebound. Gold price (XAU/USD) has picked up fresh bids, resuming its uptrend in the Asian trading hours on Monday. The precious metal shrugs off its profit-taking pullback and rebounds to a fresh five-month high near $3,470 on increased dovish US Federal Reserve (Fed) expectations. The US inflation data reinforced expectations that the Fed could cut interest rates this month.A slew of US economic data last week, including US Gross Domestic Product (GDP) and US…

This Kiwi pair seems to be entering correction mode at the moment, as it approaches a former support zone near a descending trend line. Will the downtrend resume soon? NZD/CHF 4-hour Forex Chart by TradingView NZD/CHF had a pretty rough time during the previous month, as the pair tumbled sharply below the .4750 minor psychological support on a dovish RBNZ decision. At the same time, the lower-yielding Swiss franc attracted safe-haven demand while traders edged away from the U.S. dollar on account of Fed independence concerns. Now that the pair is taking a breather from its dive at the beginning…

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.Previous close was 7.1304more to come Source link

The PZ Pivot Points MT4 Indicator is designed to automatically calculate and display pivot points, support, and resistance levels on the chart. These levels are based on the previous trading session’s high, low, and closing prices. Traders use them to predict potential areas where price might reverse or continue its trend. Instead of manually drawing lines, the indicator saves time and gives a structured trading framework. It works across different timeframes, making it useful for both intraday traders and swing traders. Why Pivot Points Matter in Trading Pivot points are widely respected in the trading community because they represent psychological…

Welcome to a brand new trading month, fellas! Here’s a rundown of the major themes driving the markets lately and what to look out for next. Source link

South Korean negotiators struggle to close gaps with US despite summit, tariff deal Source link

European Central Bank Governing Council member Olli Rehn, governor of the Finnish central bank spoke in an interview with Finnish newspaper Helsingin Sanomat on Sunday. Rehn says the European Central Bank should take a flexible approach on interest rate decisions in the meetings ahed. Rehns said there are more downside risks to EU-zone inflation stemming from a stronger eurocheaper energyeasing of core inflationthe damage trade-policy has caused to the global economyHe said euro area economic shocks “are now more complicated than before and there’s great uncertainty over inflation, which calls for flexibility in reacting to shifts in the economy.” His…

US still working on trade deals despite court ruling, USTR says Source link