Yen displayed impressive strength in Asian session, following hawkish remarks from BoJ Governor Kazuo Ueda over the weekend. Speculation is rife that the central bank is laying down preparations to exit negative rates early next year, with sustained wage growth being a key prerequisite, as echoed by various BoJ officials. Meanwhile, both Australian and New
Share: USD/CAD is trading near the 1.3600 mark, above the key 100-hour EMA. Relative Strength Index (RSI) stands in the bearish territory below 50. 1.3650 will be the immediate resistance level; 1.3575 acts as an initial support level. The USD/CAD pair loses traction and hovers around the 1.3600 mark during the early European session on
Bankrupt crypto exchange FTX has filed a lawsuit against cross-chain protocol LayerZero Labs, seeking to recover $21 million in funds that were allegedly illegally withdrawn prior to FTX’s shutdown in November 2022, according to court documents filed on September 9. The case traces back to transactions made from January to May 2022, between Alameda Ventures
Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Nasdaq Composite. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less rates cuts in 2024. Last week we got a
UPCOMING EVENTS: Tuesday: UK Labour Market report, German ZEW, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, UK GDP, EZ Industrial Production, US CPI. Thursday: Australia Labour Market report, Japan Industrial Production, Switzerland PPI, ECB Policy Decision, US Jobless Claims, US PPI, US Retail Sales. Friday: NZ Manufacturing PMI, China Industrial Production and Retail
Crude oil prices clocked at a ten-month high last week, driven by worries about supply shortages after an unexpected extension of voluntary supply cuts by Saudi Arabia and Russia. Hopes of a delay in further rate hikes by the US Federal Reserve and positive fuel demand from China aided the demand outlook. The most active
Share: XAU/USD closed the week with a 1% weekly decline above the convergence of the 20 and 200-day SMAs. US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US. At the end of the week, the XAU/USD traded with mild losses, around
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US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
Markets: Gold flat at $1918 US 10-year yields flat at 4.26% WTI crude oil down 48-cents to $87.35 S&P 500 up 0.2% CAD leads, JPY lags The euro ends the day flat but it certainly wasn’t quiet as some hawkish ECB sources reports ahead of next week’s meeting, along with some lumpy flows led to
Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks. The US 10-year treasury note yield climbed towards 4.3%, supported by a surprising drop
Share: S&P 500 closed up 0.14% at 4,457.49 on Friday but lost 1.13% for the week, reflecting investor caution amid global economic uncertainties. US economic data shows resilience with solid service sector activity and tight labor market, contrasting with gloomy outlooks in China and Europe. US Treasury bond yields advance to 4.268% on 10-year note,
Top Stories This Week Binance crypto exchange saw 10 key execs leave in 2023. Here’s the list A key talking point in the crypto community has been the ongoing exodus of executives from Binance amid growing regulatory troubles. Binance has seen the departure of 10 key executives from various departments in the first nine months
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
Verteran political player, Nancy Pelosi, 83, is lacing up her political sneakers for another run in Congress. A surprise? Not really. She’s been at it since 1987! Pelosi’s reelection bid: Quick stock market takeaway Why stock market junkies should care: 📌 Political stability often means $$$ for the market. 📌 Pelosi = Pro-Democrat. A stronger
Highlight of the week ending September 8 was a somewhat unexpected surge in the US yields despite a softer than expected US non-farm payroll report for the month of August released on September 1. Notwithstanding the somewhat weaker than expected monthly job report, the US yields surged on the huge quantum of corporate bond issuance