Author: FX
EUR/USD finds interim support near 1.0220; however, more downside looks likely. The Fed is expected to cut interest rates two times this year. Investors await the US ISM Manufacturing PMI and the German HICP data for December. EUR/USD finds temporary support in Friday’s European session after diving to near 1.0220 on Thursday, the lowest level seen in over two years. Market experts see the major currency pair falling further to parity on Federal Reserve (Fed) – European Central Bank’s (ECB) divergent views on the monetary policy outlook. On the left side of the Atlantic, Fed officials have guided less interest…
lyash01/iStock via Getty Images Having a 123-year-old iconic American steel giant be taken over by a Japanese producer has not gone well in the US of A. Multiple reports suggest that President Biden will block Nippon Steel’s (OTCPK:NPSCY) $14.9B deal for U.S. Steel ( Source link
Investing.com – The US dollar slipped back Friday, but remained on track for a strong weekly performance, boosted by expectations of a US economic outperformance and thus fewer Federal Reserve rate cuts this year. At 04:20 ET (09:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% lower to 108.900, retreating after reaching a more than two-year high during the previous session. Dollar remains strong The index is on course for weekly gains of around 1%, which would be its best weekly performance in over a month, as traders continued to factor…
Eurostoxx -0.2%Germany DAX -0.1%France CAC 40 -0.5%UK FTSE +0.1%Spain IBEX +0.1%Italy FTSE MIB -0.2%European indices fought saw a push and pull start to the year yesterday before closing things out on a more positive note. However, some late selling in Wall Street is a reminder that the mood music in equities has been rather sluggish for a few weeks now. And that’s keeping investors on their toes for now. US futures are higher again with S&P 500 futures up 0.3% currently. But again, it is still early in the day and things can swing back the other direction as we…
The Indian Rupee attracts some sellers in Friday’s early European session. The ongoing USD strength and worries about India’s economic slowdown continue to undermine the INR. The US December ISM Manufacturing PMI will be closely monitored. The Indian Rupee (INR) extends its downside on Friday after closing at its weakest level on record for the eighth consecutive session. The local currency remains under pressure as the heavy US Dollar (USD) demand in the non-deliverable forward (NDF) market has widened the arbitrage with the Indian onshore market. Additionally, the discouraging growth rate in India, a wider trade deficit, and a slowdown in…
Jan. 03, 2025 12:55 AM ETFXI, PGJ, EWH, CAF, USD, GXC, TDF, CHIQ, YINN, YANG, CQQQ, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, KURE, USD:CNY, CNY:USDBy: Meghavi Singh, SA News Editor yipengge The People’s Bank of China announced that it would likely reduce interest rates from the current 1.5% “at an appropriate time” this year, marking a significant shift in its monetary policy approach, the Financial Times reported on Friday, citing comments the bank made to the newspaper. Source link
WASHINGTON/TOKYO (Reuters) -U.S. President Joe Biden has decided to officially block Nippon Steel’s proposed $14.9-billion purchase of U.S. Steel, the Washington Post reported, putting an end to a long-running and contentious merger plan. The Committee on Foreign Investment in the United States (CFIUS) had previously referred the decision to approve or block the deal to Biden, who will leave office on Jan. 20. Biden’s call to block the deal was taken despite contrary efforts by some senior advisers concerned that it could hurt U.S.- Japan relations, the paper said. It cited two administration officials who were not authorized to speak…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1878, as compared to the previous day’s fix of 7.1879 and 7.2868 Reuters estimates. Source link
Stochastic Divergence and Advanced ADX Forex Trading Strategy is a potent combination that offers traders a deeper understanding of market dynamics. By utilizing the Stochastic oscillator and the Advanced ADX (Average Directional Index) indicator together, traders can gain insight into both the potential for trend reversals and the strength of prevailing trends. This strategy aims to identify key moments when price movements are likely to shift, providing traders with opportunities to enter or exit positions with confidence. The combination of Stochastic Divergence and Advanced ADX allows for a more nuanced approach, enhancing a trader’s ability to make well-informed decisions in…