Author: FX
UBS raised its 2024 and 2025 GDP growth forecasts for China, citing faster-than-expected GDP growth in 3Q, and recent government policy support announcementsForecasts now:GDP growth for 4Q to rise to 6.5% q/qGDP growth for 4Q to rise to remain at 4.6% y/yFull-year 2024 real GDP growth raised to 4.8% (prior forecast 4.6%)2025 real GDP growth forecast to 4.5% (prior 4.0%) This article was written by Eamonn Sheridan at www.forexlive.com. Source link
We’ve got another major central bank decision lined up, plus a fresh batch of global PMI readings! The Bank of Canada (BOC) is scheduled to announce their monetary policy statement, followed by the country’s retail sales report later on. Here’s what to expect for this week’s top-tier events. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Remember that support zone we talked about a few days ago? Well, it turns out the bears had more fuel in the tank than we expected! Now, USOIL might catch a bid from a trend line support that’s been holding since early September. What do you think of this 4-hour setup? WTI Crude Oil (USOIL) 4-hour Chart by TradingView U.S. crude oil took another hit last week, mostly driven by concerns over China’s growth and easing tensions in the Middle East, which helped cool off some of those global supply worries. But that was last week. Over the weekend, Israel…
The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rate to 3.10% and 3.6%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of the RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak against the US Dollar (USD) for the third consecutive session on Monday. The upside of the Aussie Dollar could be attributed to the rate cuts in China, its largest trading partner. The People’s Bank of China (PBoC) reduced the 1-year Loan Prime Rate (LPR) to…
The Trend Channel and Envelopes Forex Trading Strategy stands out as a powerful tool for traders aiming to harness the full potential of market trends and volatility. This strategy combines two highly effective technical indicators trend channels and envelope indicators to provide a comprehensive view of price movements. By integrating these tools, traders gain an enhanced ability to predict market direction and identify opportune moments for trading, making it a robust choice for both novice and experienced traders. Trend channels serve as the backbone of this strategy, offering a clear visual representation of market trends. By drawing parallel lines above…
The ever-evolving world of financial markets can feel like a rollercoaster ride for traders, with prices fluctuating seemingly at random. But fear not, fellow explorer of the financial frontier! There are valuable tools out there to help you navigate these turbulent waters, and the Coppock Curve MT4 Indicator is one such gem. This article will be your one-stop shop for understanding the Coppock Curve MT4 Indicator. We’ll delve into its history, mechanics, and how to interpret its signals to make informed trading decisions. We’ll also explore its strengths and weaknesses, along with some advanced applications to elevate your trading game.…
SEOUL (Reuters) – South Korea’s exports for the first 20 days of October fell 2.9% from a year earlier, customs agency data showed on Monday. Exports of semiconductors rose 36.1%, but cars fell 3.3% and petroleum products dropped 40.0%; by destination, shipments to China rose 1.2%, while those to the United States and the European Union fell 2.6% and 8.9%, respectively. In September, exports rose for the 12th consecutive month, but the pace of growth cooled. On average per working day, exports were up 1.0%. Source link
The next European Central Bank monetary policy meeting is on December 12. TD are expecting another rate cut (the ECB cut by 25bp last week).TD cites:ECB officials (members of the Bank’s rate setting committee, the Governing Council) have opened up the door sidely to cutsthe data-dependent ‘one meeting at a time’ messaging is still there but anything other than a December rate cut is unlikelyIndeed, Villeroy repeated the data-dependent messaging on Saturday. Who is he kidding? The EU economy is in deep doo-doo, and he expects inflation at target in the next few months:ECB’s Villeroy says probably more rate cuts,…
This week our currency strategists focused on the New Zealand CPI update and the Australian employment update for potential high-quality setups. Out of the eight scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions to see what happened! Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d like to…
By Amina Ismail and Nidal al-Mughrabi BEIRUT/CAIRO (Reuters) -Israel said late on Sunday it was preparing attacks on sites linked to the financial operations of Lebanon’s Hezbollah group within hours and told residents to leave those areas immediately, as it intensified assaults there and in Gaza. The warning came hours after Israel said it hit Hezbollah’s intelligence headquarters in the Lebanese capital Beirut, while officials in Gaza said rescuers were still recovering people from the rubble after an Israeli attack on Saturday that killed dozens. “Residents of Lebanon, the IDF (Israeli military) will begin attacking infrastructure belonging to the Hezbollah…