Author: FX
EUR/GBP is testing key resistance after a strong upswing earlier this week. Is the pair ready to extend its longer-term trend? We’re detailing what we’re seeing on the 4-hour time frame: EUR/GBP 4-hour Forex Chart by TradingView In case you missed it, the Bank of England (BOE) just dropped its latest policy decisions. While the central bank kept its interest rates steady as expected, THREE members – including the Deputy Governor – voted to cut interest rates by 25 bps. Not only that, but the BOE’s meeting minutes also revealed concerns about economic growth despite sticky high price pressures. The…
The Fed’s less dovish tone may have set the stage on Thursday, but the BOJ’s dovish hold and the BOE’s surprise vote stole the spotlight and fueled volatility among the major assets. The dollar surged, gold sank to a six-day low, oil slid on demand worries, and Bitcoin retreated as traders grappled with central bank whiplash and stronger U.S. data. Read on to see how your favorite assets traded in the last trading sessions! Headlines: Melbourne Institute inflation expectations in Australia rose from 3.8% to 4.2% in December, the highest since September ANZ: New Zealand business confidence index fell from…
China one year bond yield drops to 1%, first time since 2009.Earlier today we had the 1- and 5-year rates set unchanged:PBOC sets 1 year Loan Prime Rate (LPR) at 3.1% and 5-year at 3.6%, both unchangedNo reduction despite ongoing easing pressure. The People’s Bank of China seems very concerned that further rate cuts would prompt further yuan weakness and capital flight. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
The Japanese Yen adds to the post-BoJ losses and drops to a five-month low against the USD. The Fed’s hawkish shift remains supportive of elevated US bond yields and undermines the JPY. A stronger-than-expected Japan’s National CPI keeps the door open for a BoJ rate hike in 2025. The Japanese Yen (JPY) prolongs a two-week-old downtrend and hits a five-month low against its American counterpart during the Asian session on Friday. The Bank of Japan (BoJ) kept rates steady in a nearly unanimous vote on Thursday and flagged a cautious outlook for 2025 amid sluggish economic growth, which, in turn,…
The Bank of England (BOE) kept its main interest rate at 4.75% in December, but surprised markets with a dovish 6-3 vote split that sent the pound tumbling. In a significant shift, three members of the Monetary Policy Committee (including Deputy Governor Ramsden) voted for an immediate quarter-point cut, five believed recent developments supported a gradual approach to easing, and one member – thought to be Catherine Mann – appears poised to favor aggressive easing in due course. Link to official BOE Statement (December 2024) Turned out, the U.K. economy was giving mixed signals. Inflation jumped up to 2.6% in…
The Heikin Ashi Candle and Sideways Detector Forex Trading Strategy is a powerful approach designed to help traders navigate the complexities of the Forex market with precision. This strategy leverages the unique properties of Heikin Ashi candles to identify clear trends while using a sideways market detector to pinpoint periods of consolidation. By combining these two tools, traders can effectively adapt their tactics to market conditions, avoiding false signals and maximizing profit opportunities. Heikin Ashi candles are widely valued for their ability to smooth out market noise, providing a clearer picture of trend directions. Unlike traditional candlesticks, which can be…
Markets:Crude oil $69.14 down -$0.88 or -1.26%Gold up $8.98 or 0.35% at $2593Silver -$0.30 or -1.07% at $29.02Bitcoin down -$2,300 at $97,611In the US stocks, the broader indices gave up gains and closed lower, but the Dow snapped a 10 day losing streak and is closing higher.Dow up 15.37 points or 0.04% at 43,342.24S&P fell -5.08 poiints or -0.09% at 5867.08Nasdaq fell -19.92 points or -0.10% a 18,372.77In the US debt market :2 year 4.316%, down -4.3 bps10 year 4.57%, up 5.0 bps30 year 4.744%, +6.5 bpsEuropean indices closed sharply lower:German Dx, -1.35%France’s CAC -1.22%UK FTSE 100, -1.14%Spain’s Ibex -1.52%Italy’s…
By Michelle Nichols UNITED NATIONS (Reuters) – The United Nations General Assembly voted on Thursday to ask the International Court of Justice for an opinion on Israel’s obligations to facilitate aid to Palestinians that is delivered by states and international groups including the U.N. The Norwegian-drafted resolution was adopted by the 193-member body with 137 votes in favor. Israel, the United States and 10 other countries voted no, while 22 countries abstained. The move came in response to Israel’s decision to ban the operation of the U.N. Palestinian refugee agency UNRWA in the country from late January and other obstacles…
DXY hovers near 108.00 on Thursday as buyers seem to be taking a breather. Profit-taking emerges after Wednesday’s strong rally. Fed’s cautious tone spooks rate-cut optimists, which benefits the USD. The US Dollar Index (DXY), which tracks the USD’s value against a range of currencies, pulls back from its two-year peak following signals from the Federal Reserve (Fed) about fewer interest rate cuts in the future. Federal Open Market Committee (FOMC) members express concerns about inflation continuing into 2025 and take into account possible “Trump-effect” inflationary policies, such as tariffs and reduced labor supply due to deportations. The DXY stands…
It was something of a ‘catch up’ trade day for Europe as all the pain in US stocks yesterday took place after the European close. Despite that, it wasn’t that bad which is something of a win. Unfortunately though, European energy prices are soaring again and Germany’s auto manufacturing industry is being overrun by China.Closing changes:Stoxx 600 -1.5%German DAX -1.2%France CAC -1.2%UK FTSE 100 -1.2%Spain IBEX -1.5%Italy’s FTSE MIB -1.7% This article was written by Adam Button at www.forexlive.com. Source link