Author: FX

USD/JPY depreciates as traders assess the market sentiment of the BoJ raising interest rates in January. The Japanese Yen is set to decline more than 10% against the US Dollar in 2024. US Treasury yields fell by approximately 2% with 2-year and 10-year yields at 4.24% and 4.53%, respectively, on Monday. USD/JPY extends its losses for the third consecutive session on New Year’s Eve, trading around 156.20 during early European hours on Tuesday. However, the Japanese Yen (JPY) is headed for a decline of over 10% in 2024, marking its fourth straight year of weakening against the US Dollar (USD).…

Here is what you need to know on Tuesday, December 31: The action in financial markets remain subdued as the year comes to an end. The economic calendar will not feature any data releases on Tuesday and trading conditions are likely to start normalizing when investors return from the New Year break on Thursday. US Dollar PRICE This month The table below shows the percentage change of US Dollar (USD) against listed major currencies this month. US Dollar was the strongest against the New Zealand Dollar.   USD EUR GBP JPY CAD AUD NZD CHF USD   1.45% 1.12% 3.24%…

The Australian Dollar holds losses following China’s NBS Purchasing Managers’ Index release on Tuesday. China’s official Manufacturing PMI slipped to 50.1, with Non-Manufacturing PMI improving to 52.2 in December. The US Dollar struggled as Treasury bond yields depreciated by around 2% on Monday. The Australian Dollar (AUD) remains tepid against the US Dollar (USD) following the release of mixed NBS Manufacturing Purchasing Managers’ Index (PMI) data from China on Tuesday. As close trade partners, any fluctuations in China’s economy tend to impact Australian markets. China’s official Manufacturing PMI slipped to 50.1 in December, down from 50.3 in the previous reading…

The Indian Rupee trades in negative territory in Tuesday’s early European session.  The weakening of Chinese Yuan, spike in USD bids, and slower pace of Fed rate cuts drag the INR lower.  India’s November Federal Fiscal Deficit and Q3 Trade Deficit will be the highlights on Tuesday ahead of New Year holiday.  The Indian Rupee (INR) extends its downside on Tuesday after falling to its weakest closing level in the previous session. The local currency remains under selling pressure amid a decline in the offshore Chinese Yuan and broad-based US Dollar demand. Furthermore, the rising expectation of higher-for-longer US Federal…

WTI price continues to gain ground following China’s NBS PMI release, indicating the manufacturing sector expanded in December. China’s official Manufacturing PMI slipped to 50.1 in December, down from 50.3 in the previous reading. US crude stockpiles are forecasted to have dropped by approximately 3 million barrels last week. West Texas Intermediate (WTI) Oil price extends its gains for the third successive day, trading around $71.40 per barrel during the Asian session on Tuesday. Crude Oil prices have maintained their gains following the release of the NBS Manufacturing Purchasing Managers’ Index (PMI), which indicates that China’s manufacturing sector expanded in…

By Jonathan Allen and Brad Brooks (Reuters) -A state funeral for Jimmy Carter, the former U.S. president who died on Sunday at the age of 100, will be held at the Washington National Cathedral on Jan. 9, according to the U.S. Army.     U.S. President Joe Biden, who last year said that Carter had asked him to deliver the eulogy at his funeral, has directed that Jan. 9 be a national day of mourning for Carter throughout the U.S.  The official six-day state funeral for Carter begins on Saturday as his remains travel by motorcade through his hometown of Plains, Georgia,…

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 Dollar Index and Silver Trend NRTR Forex Trading Strategy is a dynamic approach to trading in the Forex market, combining two key elements: the strength of the US Dollar and the volatility of Silver, along with a powerful trend-following tool known as NRTR (No Repaint Trend Reversal). This strategy is designed for traders seeking to capitalize on the market’s movements by using the Dollar Index to assess the overall strength of the US Dollar, while Silver is used as a commodity that can provide significant trading opportunities, especially in times of economic uncertainty. By using these two components in…

People’s Bank of China USD/CNY reference rate is due around 0115 GMT.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%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central…

Gold price edges lower to $2,600 in Tuesday’s early Asian session. The Fed’s cautious stance might drag the precious metal lower.  Uncertainty and geopolitical tensions could boost Gold price, a traditional safe-haven asset. The Gold price (XAU/USD) attracts some sellers to near $2,600 during the early Asian section on Tuesday. Traders await fresh catalysts, including the US interest rate outlook and potential tariffs under President-elect Donald Trump. The markets are likely to be quiet before year-end. The cautious stance of the US Federal Reserve (Fed) could weigh on the yellow metal as higher interest rates tend to reduce the appeal of…