Author: FX
WASHINGTON (Reuters) – Shares of Trump Media & Technology Group rose on Friday after U.S. President-elect Donald Trump said he had no intention of selling his shares in the company, which owns his Truth Social media platform. In a post on Truth Social, Trump rejected what he described as rumors that he was planning to sell shares. “There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” Trump wrote. “THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!,” Trump added.…
USD/JPY declines to a major trendline and finds support. It remains in an uptrend that could resume and push higher. USD/JPY has pulled back to support from a major trendline for the long-term uptrend at about 152.55. Despite the correction, the pair is in an uptrend on a short and medium-term basis and given the technical analysis dictum that “the trend is your friend” the odds still favor a recovery and eventual continuation higher. USD/JPY 4-hour Chart A break above the 154.71 November 7 high would renew the uptrend and probably lead to a continuation up to resistance at 155.24,…
GBP/USD Price Forecast: Falls deeper below 1.3000 on strong US Dollar The Pound Sterling dropped from around 1.2980 on Friday as the Greenback recovered some ground following Thursday’s losses. Risk aversion has seen flows into the buck; hence, the GBP/USD trades at 1.2938, down over 0.37%. Read More… Pound Sterling ticks down even though BoE signals gradual rate-cut cycle The Pound Sterling (GBP) trades lower against the US Dollar (USD) below the psychological resistance of 1.3000 in Friday’s North American session. The GBP/USD weakens slightly as the US Dollar rebounds after a sharp correction on Thursday. The US Dollar Index (DXY), which gauges Greenback’s value…
Looking at wages, margins and labour market tightnessTo a large extent, we will have to look through inflationary impact of government budgetGradual reduction in interest rates is conditionalPolitical developments in the US and Germany do pose some questions This article was written by Justin Low at www.forexlive.com. Source link
Many of us are lured into the world of forex trading because of the potential to score big bucks, along with plenty of opportunities to exercise one’s brain and will. For some, the latter only comes in second as the prospect of making sizeable returns is more appealing. There are instances when forex traders are just in it to win it, leaving them less focused on the process and solely on the profits. But these preferences can lead to addiction, which can both be damaging to your account and your mind. Let me tell you the story of a day trader who ended…
Pound Sterling ticks down even though BoE Bailey signals gradual rate-cut cycle The Pound Sterling (GBP) trades cautiously against the majority of its pairs on Friday even though the commentary from Bank of England (BoE) Governor Andrew Bailey on interest rates on Thursday was less dovish than what market participants had anticipated. After the bank reduced its key borrowing rates by 25 bps to 4.75%, Bailey commented that interest rates will continue to fall gradually if the economy evolves as expected. However, he emphasized that the monetary policy will remain restrictive until the risks of inflationary pressures remaining persistent get dissipated. Read…
PARIS (Reuters) -World food prices rose in October to an 18-month high as vegetable oils led increases seen in most food staples, United Nations’ data showed on Friday. A price index compiled by the U.N. Food and Agriculture Organization (FAO) to track the most globally traded food commodities increased to 127.4 points last month, up 2% from a revised 124.9 points in September. That put the index up 5.5% from a year ago and marked its highest since April 2023, though it was 20.5% below a record from March 2022 reached after Russia’s invasion of Ukraine, the data showed. Prices…
There are just a couple to take note of on the day, as highlighted in bold.And again, they are all for EUR/USD layered in between 1.0750 through to 1.0800. Post-election sentiment is still the name of the game in driving FX flows now, so the expiries are just secondary drivers alongside everything else at the moment. That being said, they could play a role in keeping price action more boxed in until we get to US trading again later.There aren’t any key risk events on the calendar to really impact EUR/USD sentiment. So, it’s all about how the post-election flows…
Missed the head and shoulders breakdown we were watching on gold prices a few days back? The precious metal is in the middle of a correction to this area of interest! Take a look at these near-term inflection points I’m watching on the 4-hour time frame: Gold (XAU/USD) 4-hour Chart by TradingView Check out that sharp neckline breakdown after the U.S. election results came in! Investors seemed to cash out on their safe-haven holdings while the exit polls indicated a likely victory for U.S. President Trump, as the dollar bulls also charged on expectations of a less dovish Fed. However,…
EUR/JPY drifts lower for the second successive day and slides back below the 200-day SMA. Intervention fears offer some support to the JPY and exert downward pressure on the cross. Bets for less aggressive ECB rate cuts could limit losses for the shared currency and spot prices. The EUR/JPY cross remains under some selling pressure for the second successive day and drops to a two-week low, around mid-164.00s during the Asian session on Friday. The downfall is sponsored by a combination of factors and drags spot prices back below a technically significant 200-day Simple Moving Average (SMA). The Japanese Yen…