Author: FX
By Mark Trevelyan (Reuters) -Russia said on Monday its forces had made important gains in eastern Ukraine while continuing to fend off a new Ukrainian offensive inside the Kursk region of western Russia, where a second day of fierce fighting was under way. The Russian defence ministry said its forces had captured the town of Kurakhove, 32 km (20 miles) south of Pokrovsk, a Ukrainian logistics hub towards which Russian forces have been advancing for months. The ministry said taking Kurakhove, which had held out for many weeks, would enable Moscow’s forces to step up the pace of their advance…
Of the 72 economists in the Eurozone surveyed, roughly 46% are of the opinion that the ECB is “behind the curve” when it comes to cutting interest rates. Meanwhile, around 43% of economists are of the opinion that the ECB is on the right path. The remaining 11% are undecided. Here is the full poll results:It’s almost a fair divide, though I would argue that it does show concern when the view is this much split in the first place. If anything, it shows that there is a significant chunk of market watchers believing that the ECB has been too…
The Indian Rupee tumbles in Monday’s early European session. A decline in the Chinese Yuan, persistent USD demand and Trump’s tariff threats continue to undermine the INR. The US December S&P Global Composite and Services PMI are due later on Monday. The Indian Rupee (INR) weakens to near a fresh record low on Monday. The local currency remains vulnerable amid the weakening of the Chinese Yuan, fewer rate cut expectations by the US Federal Reserve (Fed) and the threat of tariffs from incoming US President-elect Donald Trump’s administration. The HSBC final India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, eased to…
Market players are anticipating hotter annual inflation readings from Australia this week. Our Event Guide for the November 2024 Australia CPI noted that leading indicators are pointing to a slight uptick in headline CPI in November, which counters the Reserve Bank of Australia’s (RBA) recent shift to less hawkish biases. Will this lead to the Australian dollar gaining pips against counterparts like the Canadian dollar and the Swiss franc? This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access…
Gold appears to be consolidating in the middle of a developing symmetrical triangle pattern. Could bears potentially take control after a downside break of the Pivot point and rising ‘lows’ pattern? Let’s check out these key inflection points to watch on the 4-hour time frame: Gold (XAU/USD) 4-hour Chart by TradingView Less dovish Fed expectations towards the latter part of December last year propped up the U.S. dollar while also weighing on gold prices, forcing the precious metal to retreat. Still, the ascending triangle support on its 4-hour time frame appears to have held as a floor, taking XAU/USD back…
By Hyunsu Yim SEOUL (Reuters) -South Korean investigators will seek an extension of a warrant to arrest impeached President Yoon Suk Yeol, an official said on Monday, as an anti-graft agency asked police to take over efforts to execute the arrest of the embattled leader. The requests come after a failed attempt to serve the warrant on Friday following a tense stand-off with presidential security service guards who formed a human chain to block access to Yoon by the investigators. Yoon is under criminal investigation for insurrection over his Dec. 3 martial law bid that stunned South Korea and led…
Markets appear to be pricing in an interest rate cut from Australia’s central bank early this year, so I’m keeping close tabs on these EUR/AUD and AUD/JPY levels in case the inflation report misses expectations. Our Event Guide for the November 2024 Australia CPI points out that the RBA is already projecting that inflation is returning to target, so confirmation from the actual numbers could reinforce their dovish bias. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to…
It’s shaping up to be a busy week for traders with global inflation updates, final PMI readings, and the latest U.S. NFP reports. Here are the major events you need to watch if you’re trading this week: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Activity in China’s services sector expanded at a faster pace in December, buoyed by accelerated growth in demand,Services PMI 52.2 in December 2024Activity Growth: Driven by stronger domestic demand and promotional efforts, new business inflows grew at the quickest pace in five months.Challenges: Export business declined for the first time since August 2023, and employment fell amid cost concerns and resignations.Backlogs and Costs: Outstanding work increased, and cost pressures intensified due to rising input and wage costs. Selling prices rose for the first time in six months.Outlook: Despite positive sentiment supported by government policies, business confidence dipped to near its…
Many new traders struggle to find the best forex trading strategies that work. Forex trading is a massive market with trades worth over $6 trillion daily. This article will explain simple and effective strategies for beginners to succeed in forex trading. Keep reading to learn how to trade with confidence! Key Takeaways New forex traders can choose strategies like price action strategy, trend trading, or range trading based on their trade goals and time. Scalping suits quick trades, while swing trading works for longer-term moves. Each needs different time and focus levels. Stop-loss and take-profit orders help control risks and…