Author: FX
The Australian dollar broadly declined early Thursday, despite December’s employment report coming in stronger than expected. Data from the Australian Bureau of Statistics showed Australia’s labor market adding 56,300 jobs in December, significantly outpacing forecasts of a 15,000 increase. At the same time, the unemployment rate inched up from 3.9% to 4.0% as more people entered the workforce. Link to ABS December 2024 Employment Report Here are key points from December’s employment report: Total employment increased by 56.3K, far above the 15K forecast The unemployment rate rose to 4.0% from 3.9% in November Full-time employment decreased by 23,700 to 10,037,600…
USD/JPY has snapped a days-long uptrend and is rapidly approaching a key support zone. Will there be enough buyers at the level to maintain the pair’s even longer-term uptrend? The daily chart might give us clues: USD/JPY Daily Forex Chart by TradingView The U.S. dollar has been taking hits against its counterparts after this week’s U.S. CPI and PPI reports stoked expectations for multiple rate cuts from the Fed. Meanwhile, over in Japan, officials have been dropping hints about a potential rate hike as soon as next week. USD/JPY, which had been climbing steadily since December, not only tumbled from…
By David Lawder and Lawrence Delevingne WASHINGTON (Reuters) -Scott Bessent, U.S. President-elect Donald Trump’s choice to head the Treasury Department, on Wednesday vowed to ensure that the dollar remains the world’s reserve currency as he laid out a vision for a “new economic golden age”. Bessent, who faces questioning before the U.S. Senate Finance Committee on Thursday, said in prepared testimony that the new Trump administration must prioritize productive investment that grows the economy over “wasteful spending that drives inflation.” “We must secure supply chains that are vulnerable to strategic competitors, and we must carefully deploy sanctions as part of…
Investors were biting their nails ahead of the highly-anticipated U.S. CPI release, leading to plenty of market consolidation before big breakouts were seen. Headline inflation came in line with consensus, but the core CPI showed moderating price pressures enough to keep most market players hopeful for more Fed rate cuts. Take a look at the latest economic updates! Headlines: BOJ Governor Kazuo Ueda signaled a potential rate hike next week in remarks during the Regional Banks Association of Japan event BOJ Deputy Governor Ryozo Himino shared that a rate hike is on the table in next week’s meeting Japan Reuters…
Data from the U.S. Bureau of Labor Statistics was a mixed bag, with headline inflation rising more than expected but core inflation showing signs of moderation. Headline CPI climbed 0.4% in December, beating the forecast of 0.3%, mainly due to a 2.6% jump in energy prices. Monthly core CPI—which leaves out food and energy—came in at 0.2%, lower than the expected 0.3%. That’s a step down from the steady 0.3% increases we’ve seen recently! On an annual basis, headline CPI sped up to 2.9% from November’s 2.7%, but core inflation dipped to 3.2% from 3.3%. This hints that underlying price…
imaginima/E+ via Getty Images President-elect Trump’s nominee to lead the U.S. Department of Energy told senators in his confirmation hearing Wednesday that his first priority would be to expand domestic energy production including liquefied natural gas and nuclear power. Chris Wright, the founder of Liberty Source link
The Cumulative Volume and Zone Trade Forex Trading Strategy is a powerful approach that combines two critical elements of technical analysis: cumulative volume and price zones. By integrating volume data with key support and resistance zones, this strategy helps traders make more informed decisions about when to enter and exit the market. The concept behind this strategy is simple yet effective: volume tells us the strength behind a price move, while price zones reveal areas of high probability for trend reversals or breakouts. Together, these components create a dynamic system for identifying high-probability trading opportunities in the forex market. Cumulative…
Struggling to make consistent profits in forex trading? A clear and effective trading plan can change that. This guide will show you step-by-step how to create a solid trading plan for success. Keep reading it’s time to trade smarter! Key Takeaways Set SMART goals like “Grow my portfolio by 15% in 12 months.” Align them with your risk tolerance and trading style. Pick a trading style that fits your schedule: day trading, swing trading, or position trading. Match it with active forex hours for better results. Use risk-reward ratios like 1:3 to aim for profits while limiting losses. Never risk…
Bank of Korea leaves rate unchanged at 3% vs. cut to 2.75% expectedmore to come This article was written by Eamonn Sheridan at www.forexlive.com. Source link
The Mexican Peso maintains its upward trajectory against the Dollar, buoyed by improved Gross Fixed Investment in October. Mixed US inflation data, with core figures below expectations, bolsters the market view of possible continued Fed easing. Divergent monetary policies between Banxico and the Fed could limit the Peso’s advance, with key economic data due next week. The Mexican Peso clings to earlier gains against the Greenback on Wednesday following the release of mixed United States (US) inflation data. Though headline inflation increased, core figures dipped compared to estimates and previous data. Therefore, the USD/MXN dropped 0.09%, trading at 20.48 at…