Author: FX
Prior 49.9The rate cuts did help the manufacturing sentiment to recover from the very low levels seen in the past couple of years, but inflation is falling pretty fast so the SNB will need to adress that. This article was written by Giuseppe Dellamotta at www.forexlive.com. Source link
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 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 Flip 55 strategy has identified a trading opportunity on the EUR/GBP pair within the H1 timeframe. I’ve shared a trade setup image for your…
The Japanese Yen depreciated following the release of Manufacturing PMI on Friday. The headline Jibun Bank Japan Manufacturing PMI registered at 49.2 in October, reflecting a decrease from 49.7 in September. US Nonfarm Payrolls are expected to increase by 113,000 jobs in October, a decline from the previous count of 254,000. The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday. However, the USD/JPY pair declined as the JPY strengthened after post-meeting comments from Bank of Japan (BoJ) Governor Kazuo Ueda on…
Bio-Rad Labs misses Q3 estimates for profit, revenue Source link
BEIJING (Reuters) – China aims to step up supervision of government debt and plans to revise the law to do so, a spokesperson of the legislative affairs committee of the National People’s Congress (NPC) said on Friday. The changes proposed by the NPC’s standing committee will require annual progress reports on debt management work from the cabinet and local governments, the spokesperson, Huang Haihua, told reporters. The committee “should supervise government debt and establish a sound reporting system for government debt management,” Huang said. Draft amendments are set to be discussed when the standing committee meets from Nov. 4 to…
A heads up for those trading US markets.If you are offshore from the US or Canada you may need to adjust your trading times. For Sydney in Australia, for example, NYSE RTH hours will begin at 1.30 am local time, Tuesday to Saturday. Yeah, I know. You’re welcome 😉 Source link
A recovery in crude oil prices just pushed WTI crude oil (USOIL) higher from a key technical support zone. Will this lead to USOIL revisiting higher areas of interest? Let’s check out the 4-hour time frame: WTI Crude Oil (USOIL) 4-hour Chart by TradingView If you’ve read Thursday’s Market Recap, you’ll know that crude oil prices extended their upswings from earlier this week as traders priced in a surprise EIA inventory draw, OPEC+ members possibly delaying their planned production increases, and Iran threatening attacks on Israel. Meanwhile, the U.S. dollar is losing some ground as expectations of further Fed rate…
Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that he expected the Bank of Japan (BoJ) to work closely with the government to conduct appropriate monetary policy to sustainably, and stably hit its price target. Key quotes Monetary policy falls under jurisdiction of BoJ, with no comment on the government’s view on its decision. Expect BoJ to conduct appropriate monetary policy to sustainably, and stably hit its price target, working closely with the govenment. Market reaction At the time of writing, USD/JPY is trading 0.03% higher on the day at 152.07. Japanese Yen FAQs The Japanese Yen (JPY) is one of…
Profit-taking was the name of the game on Thursday, as traders braced for top-tier U.S. data releases, the U.S. elections, and the end of a trading month. Which headlines dominated price action in the last trading sessions? We’re breaking them down for ya: Headlines: China manufacturing PMI for October: 50.1 (49.8 expected and previous); Services PMI improved from 50.0 to 50.2 (50.4 expected) BOJ kept policies steady as expected, Gov. Ueda hinted at future rate hikes and the increased impact of FX moves on wages and prices France preliminary CPI accelerated by 0.2% m/m as expected in October after a…
The world of financial trading thrives on understanding market sentiment and predicting price movements. Armed with the right tools, traders can navigate the ever-changing tides and make informed decisions. Today, we delve into a valuable asset in a trader’s arsenal: the Relative Vigor Index (RVI) indicator for the MT4 platform. Understanding the Core Concept Behind the RVI At the heart of the RVI lies a fundamental principle: the closing price of a security often reflects the underlying market sentiment during a trading period. In an uptrend, bulls (buyers) dominate, pushing the price higher by the close. Conversely, a downtrend signifies…