Author: FX

European indices closed sharply lower with the declines of -1% – -2% on the day. Looking at the closing levels:German DAX, -2.07% France CAC, -1.6% UK’s FTSE 100 -1.71%Spain’s Ibex -1.05%Italy FTSE MIB -1.87%For the trading week major indices, the declines today contributed to dipping into negative territory for the week German Dax -1.59%France CAC -1.97%UK’s FTSE 100 -0.37%Spain’s Ibex -1.49%Italy’s FTSE MIB -0.35%Helping contribute to the declines were higher rates. Yields across Europe surged this week. Germany +17.4 basis points to 3.170%, its highest level going back to May 2011France +35.7 basis points to 3.969% its highest level going…

The EURUSD is trading sharply lower after breaking below a major technical support cluster defined by the 200-day moving average and the 38.2% retracement of the rally from the February 12 low. Both levels converged near 1.16806, creating an important barometer for buyers and sellers. Once the pair moved below that zone — and more importantly stayed below it — sellers gained the momentum needed to press the pair lower through the North American session.The next key downside target came in at a swing area between 1.16377 and 1.16464. After breaking below that support zone, the pair extended lower to…

The price of silver is under intense pressure today, tumbling $6.55 or -7.84% to $76.90. The sharp decline marks the largest one-day percentage drop since March 3, when the metal fell -8.15%, and reflects a dramatic shift in momentum after silver once again failed near a major resistance target around the $90 level.That $90 area has been an important technical ceiling for the market. It represents a swing high going back to March 10, and traders were watching closely this week to see if buyers could finally force a sustained breakout. On Wednesday, the rally extended to $89.37 — just…

DBS economists Taimur Baig and Radhika Rao expect Japan’s 1Q Gross Domestic Product (GDP) to grow 1.8% QoQ saar, supported by firm exports and AI- and semiconductor-related investment, keeping their 0.5% full-year GDP forecast on track. However, a return to trade deficit on higher Oil prices remains a key drag on the Japanese Yen (JPY), with Bank of Japan (BoJ) seen delaying rate hikes until July.Growth resilient while BOJ stays cautious”Preliminary 1Q GDP, as well as April trade and inflation data, are due this week. GDP growth is expected to remain resilient at 1.8% QoQ saar, up from 1.3% in…

When markets stop following the usual playbook, scenario building helps traders stay flexible and less emotionally hijacked by uncertainty. Source link

We are trying to keep the ceasefire in order to give diplomacy a chanceContradictory messages by the US have made us reluctant about their real intentions on talksAll vessels can pass through Strait of Hormuz except those at war with usVessels wanting to pass should coordinate with Iran navyWe are making the necessary arrangements in coordination with OmanThe situation around the Strait of Hormuz is very complicated and we are trying to helpInterested in continuing energy business with IndiaWe understand consequences of sanctions imposed by USThe comments aren’t anything new and mainly reaffirm the existing status quo. With US president…

Societe Generale analysts report EUR/USD has fallen to its lowest level since early April as wider UST/Bund spreads and higher energy prices weigh on the Euro (EUR). The pair has broken below its 50- and 200-day moving averages, with support cited at 1.1560 and resistance at 1.1720. Aggressive European Central Bank (ECB) June hike pricing implies downside risks for EUR versus G10 peers.Break of key averages signals vulnerability”Euro in trouble as 50/200dma give way on Fed repricing, higher UST yields and oil/ gas.””The single currency is struggling as May reaches the half-way point, managing to stay just ahead of the…

Caturus to start construction of major US LNG facility after securing $9.75 billion Source link

Range bars were introduced by Brazilian trader Vicente Nicolellis in the mid-1990s. He wanted a way to filter out market noise and focus purely on price movement. The concept is straightforward: each bar represents a fixed price range, not a fixed unit of time. In MT4, the range bar indicator simulates this behavior by tracking price and constructing bars based on a pip threshold the trader defines. When price moves the required number of pips from the open of the current bar, that bar closes and a new one opens. If price doesn’t move enough, no new bar forms —…

After the record highs in Wall Street yesterday, the mood music is switching around as we get into the new day. With markets turning their attention to Trump’s visit to China, the war in the Middle East continues to rage on. While there might have been some hopeful optimism about maybe expecting Trump to push Beijing to take action on Iran, that doesn’t seem to be coming as we draw closer to the weekend.And that is arguably why we’re starting to see markets get caught by another risk-off wave as we approach the final stretch of the week.US-Iran talks remain…