Author: FX
The jump last month was driven by the strongest rise in commercial work for two-and-a-half years, as that helped to offset a further decline in home building activity – which saw its sharpest decline since June. Besides that, new order growth also weakened to a five-month low while employment conditions also eased further with job creation seen at a three-month low. S&P Global notes that:”The construction sector bucked the slowdown seen elsewhere across the UK economy in November, according to the latest S&P Global PMI survey. Total industry activity once again expanded at a robust pace and there has been…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straight forward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the AUD/CAD pair within the H4 timeframe. I’ve shared a trade setup image for…
Further range trading in Euro (EUR) appears likely, with an expected range of 1.0480/1.0550. In the longer run, EUR is expected to trade in a range for now, most likely between 1.0430 and 1.0580, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Further range trading in EUR appears likely 24-HOUR VIEW: “EUR traded in a 1.0479/1.0535 range on Tuesday. Yesterday (Wednesday), we indicated that ‘The relatively quiet price action provides no fresh clues, and we continue to expect EUR to trade in a range, most likely between 1.0480 and 1.0535.’ While EUR subsequently traded in a…
ArrowMark Financial declares $0.45 dividend and special cash distribution of $0.20/share Source link
Labor market-related reports printed earlier this week convinced more market players that a December rate cut is imminent. Will Uncle Sam’s November jobs data strengthen calls for another Fed rate cut before the year ends? Here’s what the markets are expecting from the November NFP report and how USD tends to react to the release: 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
Bank of Canada (BOC) members have recently hinted at more interest rate cuts, despite their push for more data dependence. Will November’s labor market data support the central bank’s relatively dovish lean? We’re taking a closer look at the points you need to know if you’re trading the event! 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
It was a very busy day in the financial markets, as investors digested a fresh batch of services PMI data, central bank commentary, and employment figures. Fed Chair Powell’s remarks about economic resilience likely contributed to late-session volatility across asset classes while speculations about the upcoming OPEC+ meeting also pushed crude oil prices around. Here are the economic updates and headlines you need to know: Headlines: Jiji Press report suggested BOJ policymakers’ growing views against a premature rate increase unless there’s a big risk of consumer prices rising on factors such as a weaker JPY Australian economy grew slower than…
Bitcoin has reached – and breached – the $100K level for the first time. The prior high reached on November 22 reached $99,800 and backed off. That level will now be close support. Traders will want to see the price momentum to move away from that level and the $100K level too. The high price reached $100.293.—- now $101,394. So far so good. Technically, looking at the daily chart, the low from Tuesday was a nice hold against the old swing high going back to November 13. That proved to be a base for the next rise. Today Powell did…
The Japanese Yen attracts some buyers on Thursday, albeit lacking bullish conviction. Rebounding US bond yields underpin the USD and offer support to the USD/JPY pair. Traders seem reluctant to place aggressive bets ahead of the US NFP report on Friday. The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Thursday and moves away from the weekly low touched on the previous day. Signs that the underlying inflation in Japan is gaining momentum continue to fuel expectations that the Bank of Japan (BoJ) will hike interest rates again in December. Adding to this, persistent…
The world of forex trading can feel like a whirlwind of charts, figures, and cryptic terminology. But fear not, aspiring trader! Even seasoned veterans started somewhere, and understanding the underlying forces that drive market prices is a crucial first step. That’s where the Bulls vs Bears MT4 Indicator comes in – a handy tool that can help you gauge market sentiment and make more informed trading decisions. Types of Bulls vs Bears MT4 Indicators The world of MT4 indicators is vast, and the Bulls vs Bears category isn’t a one-size-fits-all solution. Here’s a breakdown of the two most common types:…