Author: FX

1830 GMT / 1430 US Eastern time:Bank of Canada Governor Tiff Macklem will address journalists and answer questions in-person and virtually at the sidelines of the IMF meeting***The Bank of Canada cut by 50bp this week:Bank of Canada is out of touch, “didn’t grasp the challenges facing the Canadian economy”RBC analysts anticipate another 50bp rate cut in December from the Bank of Canada This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The DAT MACD and Last High Low Stop Loss Forex Trading Strategy is a powerful tool designed to elevate trading effectiveness in the competitive Forex market. By combining the MACD (Moving Average Convergence Divergence) indicator with a strategic stop-loss approach, this method offers traders a robust framework for both identifying high-potential trades and managing risk. The MACD, known for its ability to reveal trend changes and momentum shifts, provides critical insights that can significantly enhance decision-making processes. This, combined with an effective stop-loss strategy, creates a comprehensive system that aims to optimize trading performance. What sets the DAT MACD strategy…

The foreign exchange market, also known as forex, is a dynamic and ever-changing landscape. While it presents exciting opportunities for astute traders, navigating its complexities can be daunting. One crucial factor that often gets overlooked is spread, which directly impacts your trading costs. This is where the SpreadWarner MT4 Indicator steps in, empowering you to become a more informed and confident trader. Understanding Spread in Forex Trading Before diving into the SpreadWarner MT4 Indicator, let’s establish a clear understanding of spread in forex trading. In essence, the spread represents the difference between the bid price (the price at which a…

The headline Tokyo Consumer Price Index (CPI) for October fell to the 1.8% YoY rate from 2.2% in the previous month, the Statistics Bureau of Japan showed on Friday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy came in at 1.8% as compared to 1.7% and 2% in September. Additionally, Tokyo CPI ex Fresh Food climbed from 1.6% to 1.8% in October.  Market Reaction The data does little to influence the Japanese Yen (JPY) or provide any meaningful impetus to the USD/JPY pair, which is currently placed just below the 152.00 round-figure mark. Source link

(Reuters) – Volkswagen (ETR:)’s Scout Motors unit on Thursday unveiled its concept electric SUV and truck and said it will offer extended-range versions that include a small gasoline engine. VW is building a $2 billion factory in South Carolina and expects to begin production of the new vehicles in 2027. The full EV versions will offer up to 350 miles of range on a charge while the extended-range version will have 500 miles. “It makes the platform future proof,” Scout CEO Scott Keogh said. Source link

The Bank of Japan is eyeing two elections. Firstly, this weekend in Japan:And secondly, the US election on November 5. MUFG caution that the Bank of Japan may veer away from intervention to support the yen ahead of the US election, reasoning that US dollars spent on propping up the yen would be wasted if Trump wins – the thinking being that a ‘Red Sweep’ (Trump win and Republicans win Congress) would see the US dollar respond with a surge higher. MUFG do stay, however, that if USD strength/yen weakness comes after the US election the Bank of Japan could…

European Central Bank (ECB) Governing Council Member Martins Kazaks noted late Thursday that the case for European interest rates is very likely on the lower side. The Bank of Latvia Governor also hinted that further moves on rates are likely in the ECB’s upcoming meetings. Key highlights Domestic price pressures are somewhat sticky. The path for interest rates is clearly down. The inflation uptick is likely to be less severe than expected. Must avoid doing undue damage to the economy. We shouldn’t hold rates at high levels for too long. The economy is the single biggest concern. It makes sense…

In the above video, I speak to the technicals that are driving the USDCHF in trading today. Below is a summary of those technicals. Market OverviewThe USD/CHF begins the day with a relatively narrow 21-pip trading range, significantly below its average monthly range of 53 pips (39% of normal). This subdued volatility makes it the least volatile major pair.Yesterday’s Price ActionThe pair briefly broke above last week’s high at 0.8668 but failed to reach the 100-day Moving Average (MA) at 0.86934 (intraday high: 0.86854). The price retreated, falling below 0.8668.Current Market DynamicsThe current price is 0.8661.Key Levels to Watch:Close resistance:…

Crude Oil struggles to hold gains this Thursday, attempting to move away from $70.00 and looking for more upside.  Markets are pricing in a new escalation in geopolitical tensions after failed attempts from US Secretary of State Blinken in the Middle East.  The US Dollar Index fades after its steep rally earlier this week, focus on the US PMI on Thursday.  Crude Oil prices sees its gains being pared back Thursday, after traders focused back on the geopolitical side of the price action again. The repricing comes after US Secretary of State Antony Blinken failed to broker a diplomatic deal between Israel and…

Eramet surges after buying remaining stake in Argentina lithium project Source link