Hello Traders! Here is today’s USDJPY technical analysis. I will be reviewing the USD/JPY forecast using Elliot Wave Theory and Fibonacci. Join my Patreon page to get access to the private chats, education information and members forecast area: https://bit.ly/3G7wfGm Learn to read the market without indicators and utilize proper risk management when analyzing Forex pairs
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
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
Gold gained on Friday amid a weak dollar which was trading with a negative bias. At 104.86, the dollar index (DXY) was down 0.20%, though still remaining at a 6-month high. The MCX October gold futures were trading up by Rs 127 or 0.22% from the Thursday closing price at Rs 59,125 per 10 gram
Asian market trading is subdued today, with Dollar retreating as its recent rally began to lose steam. Notably, overnight remarks from Fed officials didn’t provide any fresh cues, reinforcing expectations of a pause in rate hike this month. However, the door remains open for a subsequent rate hike, contingent on incoming data. All eyes now
Share: The Unemployment Rate in Canada is set to rise a tad to 5.6%, while employment is also expected to grow. Strong jobs data and hot wage inflation are critical to rescuing the Canadian Dollar. Weak jobs data will ramp up dovish Bank of Canada expectations after Wednesday’s pause. Statistics Canada is set to publish
Ryan Salame, the former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission and conspiracy to operate an unlicensed money-transmitting business According to a Sept. 7 announcement from the U.S. Justice Department, Salame pleaded guilty before a judge in the U.S. District Court for the
DIS stock daily Shares of Disney are down another 1.5% today and are now perilously close to the COVID intraday low of $79.07, set on March 17, 2020 when Disney theme parks were shut down and and the world was in full panic about a devastating pandemic and economic collapse. Pre-pandemic it was trading at
Yesterday the Bank of Canada left rates unchanged at 5.00% but the market isn’t sure they’re done. The October meeting is priced at a 13% chance of a hike and that rises to about 30% for the Dec 6 meeting. The BOC statement maintained a hawkish bias, saying: The Governing Council remains concerned about the
Gold prices edged higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates. Spot gold was up 0.3% at $1,922.70 per ounce by 1213 GMT, after hitting a one-week low on Wednesday.
Sterling is under pronounced pressure in forex markets, trailing as the day’s worst performer. This wave of selloff initiated yesterday following BoE Governor Andrew Bailey’s articulation to the parliament, hinting that UK is “much nearer” to hitting the terminal interest rates. Further aggravating the downfall, a BoE survey rolled out today unveiled a stark decline
Share: USD/MXN drops 0.30% to 17.5300 as Mexico’s inflation falls to 4.64%, meeting market expectations and signaling a cooling economy. US jobless claims below forecasts at 216K, but the Mexican Peso gains ground, challenging the Fed’s neutral stance on rate hikes. USD/MXN faces strong resistance at 18.0000, with potential triggers for volatility, including Fed surprises
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Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the S&P 500. 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
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
Gold fell on Thursday led by steady dollar amid concerns of inflation and likelihood of further interest rate hike by the US Federal Reserve. At 104.86, the dollar index (DXY) was hovering just shy of 105 against a basket of six major currencies which lent weakness to the yellow metal. It was also the greenback’s
Asian markets showcased a mild risk-off tone today, in the wake of lower closes in US markets overnight. However, the forex arena remains comparatively tranquil with major currency pairs and crosses largely confined within the previous day’s trading range. Lingering apprehensions regarding a potential rate hike by the Fed have resurfaced following robust US services