Author: FX
EUR/USD is down eight-tenths of a percent for the week. Fiber bids are getting crushed by waffling speech from ECB planners. EU and US PMI figures due on Thursday could spark fresh momentum. EUR/USD shed another fifth of a percent on Wednesday as the Fiber crumples ahead of Thursday’s fresh round of Purchasing Managers Index (PMI) figures. ECB officials talked down economic concerns, reiterating the need for caution when weighing future rate cuts. FX markets promptly responded by pummeling the Euro further into the dirt, hitting a 16-week low. Global PMI figures are due for a rolling release on Thursday.…
By Tim Reid, Stephanie Kelly and Jeff Mason WASHINGTON (Reuters) -Republican presidential candidate Donald Trump meets the definition of a fascist and “prefers the dictator approach to government,” his former White House chief of staff said in a series of interviews with the New York Times. With less than two weeks until the Nov. 5 election, John Kelly, a longtime critic of Trump’s, told the Times that the former Republican president had no understanding of the U.S. Constitution or the concept of the rule of law. Kelly said the former president would seek to rule like an authoritarian if he…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Gold retreats from all-time high of $2,758 as US 10-year Treasury yields rise, reflecting fears of higher deficit spending under a potential Trump presidency. The US Dollar Index (DXY) hits a two-month high at 104.50, further weighing on Gold as risk appetite shifts toward safe-haven currencies. Traders now price in a 92% chance of a 25 bps Fed rate cut in November with another cut expected by year-end. Gold price plunges from all-time high of $2,758 on Wednesday as US Treasury yields climbed, while the Greenback refreshes a two-month high, according to the US Dollar Index (DXY). At the time…
Macklem’s opening statement was pre-released, these are the highs of the Q&A with the media:Core inflation is easing as expectedOur growth forecast hasn’t changed a great dealWe’re going to be particularly focused on inflation and growth dataThere was a ‘clear consensus’ on cutting 50 bps todayUSD/CAD was trading at 1.3858 as the press conference began, up 40 pips. I believe that with rosy forecasts and no commitments to getting to neutral quicker, the BOC is falling further behind the curve despite a larger cut. The BOC should be at neutral now.OIS pricing for a December 50 bps cut is at…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward 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 USD/CAD pair within the H1 timeframe. I’ve shared a trade setup image for your…
Peanut launches the first self-custodial offramp, allowing users to directly cash out any token on 20+ EVM chains to their bank accounts—without relying on centralized exchanges. This beta feature is being rolled out in the EU and US first.This new beta feature creates an important bridge between crypto and fiat. Users can cash out funds from any token on 20+ EVM chains directly in US Dollars or Euros to their bank account. This works by creating a bridge between the blockchains and fiat payments networks like IBAN, BIC, or SWIFT. Peanut’s key feature is texting funds using QR codes or…
The Euro (EUR) is under mild downward pressure; it is likely to edge lower but is unlikely to break the major support at 1.0770. In the longer run, downward momentum has not improved much, but there is a chance for EUR to drop to 1.0770 before stabilisation can be expected, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Chance for EUR to drop to 1.0770 24-HOUR VIEW: “After EUR fell sharply two days ago, we indicated yesterday that ‘there is potential for EUR to decline further.’ However, we pointed out that ‘it remains to be seen…
Gold prices have been on a tear these days thanks to all that market uncertainty. Is it high time for a correction soon? Better keep your eyes on these potential support zones in case the precious metal goes for a dip! Gold (XAU/USD) 4-hour Chart by TradingView Safe-haven flows seem to be in full swing these days, as investors remain wary of geopolitical tensions in the Middle East, lackluster stimulus announcements from China, and U.S. election uncertainty. With that, it’s no surprise that gold has been setting one record high after another, busting past the $2,700 area and onto the…
LONDON (Reuters) – Lloyds Banking Group (LON:) reported third quarter profits that exceeded expectations on Wednesday, and reaffirmed its performance guidance for 2024, citing increasing financial confidence among its customers. Britain’s biggest mortgage lender reported statutory pretax profit for the July-September period of 1.8 billion pounds ($2.34 billion), narrowly down from 1.9 billion pounds a year ago but above the average analyst forecast of 1.6 billion pounds. ($1 = 0.7696 pounds) Source link