Author: FX
Notably EUR/USD is holding onto the gains made on yesterday’s Washington Post report. We consider this a fair adjustment after EUR/USD overshot on the downside last week. Source link
NAIROBI (Reuters) – Kenya’s economic growth slowed in the third quarter of 2024 from the same period a year earlier due to underperformance in most sectors of the economy, the statistics office said on Tuesday. The economy grew 4.0% year-on-year from 6.0% in the same quarter the previous year, the Kenya National Bureau of Statistics said in a statement. “The decelerated growth was largely due to a general decline in growth in most sectors of the economy. The growth was constrained by contractions in construction and mining and quarrying activities,” the statistics office said. Construction activities contracted 2.0% while mining…
EUR/CAD may gain ground as the daily chart analysis suggests a mild bullish bias. The 14-day RSI maintains its position near the 50 mark, indicating neutral momentum. The pair tests initial resistance near the nine-day EMA at the 1.4895 level, aligned with the psychological level of 1.4900. EUR/CAD continues to decline for the second consecutive session, trading near 1.4880 during Tuesday’s Asian session. Technical analysis on the daily chart suggests a mildly bullish bias, as the pair remains within an ascending channel pattern. However, the 14-day Relative Strength Index (RSI), a key indicator of overbought or oversold conditions, is maintaining…
The dollar is keeping steadier in trading today after a mixed showing yesterday. Trump denied softening his stance on tariffs but while yields rebounded, the dollar was still left to lick its wounds from earlier. USD/JPY though is a standout as it snapped back hard, now rising above 158.00 before a couple of verbal interventions from Tokyo.Looking to the day ahead, US data will be in focus with the ISM services PMI and JOLTS job openings on the agenda. In Europe, inflation data will be the main focus and more so after the hotter numbers from Germany here yesterday. That…
Positive Euro Area reports and overall U.S. dollar weakness helped prop EUR/USD higher from its weekly lows. The pair is now testing a key resistance zone, which ups the odds of EUR/USD extending a longer-term trend. We’re taking a closer look at the pair’s 4-hour time frame! EUR/USD 4-hour Forex Chart by TradingView In case you missed it, service PMI reports from the Euro Area generally improved from November to December, with readings from Germany, France, and the Euro Area also surpassing their initial estimates. On the flip side, the U.S. dollar struggled despite Treasury yields hitting fresh multi-month highs,…
Robert Way Nvidia (NASDAQ:NVDA) and AMD (NASDAQ:AMD) made headlines on Monday as each chipmaker unveiled their widely anticipated latest artificial intelligence-infused offerings at the Consumer Electronics Show. “It has been an extraordinary journey, and an extraordinary year,” Nvidia Chief Executive Jensen Huang said during Source link
WTI crude oil seems to be off to a positive start to 2025, but it looks like a correction from its rally is due. Can it find support at these inflection points? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Before 2024 came to a close, crude oil busted through its near-term resistance around the $71 per barrel mark then proceeded to zoom up close to the $75 per barrel area when markets reopened this year. The OPEC+ decision to delay its production hike, along with more stimulus measures from China, appear keeping the commodity strongly supported so far. Are…
Markets saw major swings on Monday as rumors about Trump’s trade policy plans dominated headlines, with a Washington Post report suggesting targeted tariffs initially sparking a rally before Trump’s “fake news” denial trimmed gains. The Fed’s policy outlook also remained in focus as officials Kugler and Daly emphasized the inflation fight isn’t over, while German inflation data and Trudeau’s resignation announcement drove significant currency moves. How did the major assets trade in the last trading sessions? Have a look! Headlines: Chinese Caixin Services PMI for December: (51.1 forecast; 51.5 previous) FOMC voters Kugler and Daly say the inflation fight isn’t…
Many beginners feel lost when understanding forex currency pairs. A currency pair shows the value of one currency compared to another. This blog explains the types of currency pairs and how they work. Keep reading to master this key topic in forex trading! Key Takeaways Currency pairs show the value of one currency compared to another. They have a base currency (first) and a quote currency (second). There are three types of currency pairs: Major pairs involve the US Dollar, Minor pairs exclude it, and Exotic pairs include currencies from emerging markets. Major pairs like EUR/USD have high stability,…
British Retail Consortium (BRC) data for December 2024:Total sales +3.2% y/y, biggest jump since March 2024November was -3.3%Note, Black Friday fell in the BRC’s December period in 2024 and in November in 2023, distorting year-on-year comparisonsLike-for-like sales +3.1% y/ySummary:Black Friday boosted retail sales in late 2024, with a 3.2% year-on-year rise in December after a 3.3% drop the previous month. However, quarterly sales growth was just 0.4%, indicating a decline in volumes when accounting for inflation. Retail sales for the full year rose modestly by 0.7%. The British Retail Consortium attributed the lackluster performance to weak consumer confidence and economic…