Author: FX
The US Dollar pops and makes its rally into a five day winning-streak. Traders hear Christine Lagarde say that the Eurozone growth outlook is more to the downside, after a 25 basis point rate cut from the ECB. The US Dollar Index broke above a key level on looks to be on its way to 104.00. The US Dollar (USD) adds to gains for a fifth consecutive day when looking at the US Dollar Index (DXY), which can be seen as the benchmark for the Greenback’s performance. China’s Housing Minister said on Thursday that the country will open a 4 trillion…
Fundamental OverviewThe US Dollar has been gaining ground across the board this week despite the lack of economic data and lower Treasury yields, essentially moving forward by inertia.Stanley Druckenmiller said in an interview yesterday that the market is already positioning for a Trump victory given the moves in some stocks like DJT for example. That could explain the recent USD strength as it should appreciate on higher growth and less rate cuts expectations. Nevertheless, not all markets have been in sync with this view, so it could be just noise.For now, we can only work with data and today we…
The US Dollar (USD) is likely to trade in a range between 7.1100 and 7.1430. In the longer run, strong and sudden surge suggests further USD strength to 7.1600, potentially 7.1900, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD to trade in a range between 7.1100 and 7.1430 24-HOUR VIEW: “Two days ago, USD soared. Yesterday, we indicated that ‘USD strength is likely to continue’ Our view did not turn out, as USD traded in a relatively quiet manner between 7.1138 and 1.7383, closing largely unchanged at 7.1345 (-0.03%). The current price movements are likely part…
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 EUR/GBP pair within the H1 timeframe. I’ve shared a trade setup image for your…
Nokia in charts: Q3 results hit by weak Mobile Networks performance Source link
By Roushni Nair (Reuters) – Analysts turned bearish on most Asian currencies, with short bets on the Indian rupee at a one-year high, as expectations the Federal Reserve would cut rates less aggressively strengthened the dollar and took the shine off riskier Asian assets. Short positions in the South Korean won, the Philippine peso and the Indonesian rupiah are at their highest since July 25, a fortnightly poll of 11 analysts showed on Thursday. Bullish bets in the Chinese yuan, Singapore dollar, Malaysian ringgit, and Thailand’s baht also reduced significantly from early October. Rising demand for the dollar in the…
It wasn’t supposed to be rate cuts in back-to-back months for the ECB when they did so in September. But alas, here we are. Softer economic data gave markets an opportunity to lead the ECB down this path and policymakers look to be embracing that.Hence, expect the rate cut today to be one positioned in a way alluding to economic weakness and getting ahead of the curve. At the same time, inflation developments have been supportive as well so that’s a bonus.So, what comes next for the ECB?Traders are already fully pricing in another rate cut after today, which will…
After a strong start to the month, EUR/AUD has lost its bullish momentum and looks set to extend a longer-term downtrend. Will EUR/AUD see losses in the next trading sessions? Check out what’s up on the 4-hour time frame! EUR/AUD 4-hour Forex Chart by TradingView If you’re trading this week’s European Central Bank (ECB) decision, you know President Lagarde and her gang are widely expected to cut interest rates by another 25bps. They may even be open to easing their policies further! Meanwhile, Australia just dropped better-than-expected labor market data, which supports the Reserve Bank of Australia’s (RBA) decision to…
WTI crude oil is taking a breather from its weekly losses by hanging out at a key technical support zone. Is the Black Crack ready for a bullish swing? We’re taking a closer look at USOIL’s 4-hour time frame: WTI Crude Oil (USOIL) 4-hour Chart by TradingView In case you missed it, U.S. crude oil prices have been taking hits thanks to demand concerns from China – the world’s second-largest economy – and easing geopolitical tensions in the Middle East. But that was earlier this week. American Petroleum Institute (API) just printed a surprise U.S. inventory draw while Israel is…
People’s Bank of China (PBOC) Deputy Governor spoke on several topics on the supportive measures implemented to shore up the property market. Key takeaways On existing mortgage rate cuts – Most stock of existing mortgage loans interest rates will be adjusted October 25. Accounts for 90% of existing mortgages. On lowering minimum down payment ratios – Have observed market confidence and sales as a result. On real estate development loans – Will be extended until end of 2026. Source link