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Month: July 2024
A quick round of selling pressure has hit the euro ahead of the month-end London fix. In general, these moves fade after the turn of the hour. This article was written by Adam Button at www.forexlive.com. Source link
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
The NASDAQ index is up over 520 points. The price is currently up 520 points or 3.04% at 17667. The NASDAQ is above its 50-hour moving average and also stretching above the 38.2% retracement of the last move lower at 17647.85. On the topside, the 100-hour moving average and 50% retracement are near 17840. NASDAQ
Before and After the FOMC decision (2:08 PM ET): US yields have moved marginally higher: 2-year yield went from 4.367% to 4.379%, +1.2 basement 5-year yield went from 4.021% to 4.034%, +1.3 basis points 10 year yield went from 4.112% to 4.127%, +1.5 basis points 30-year yield one from 4.361% to 4.373%, +1.2 basis points
Paris, an iconic city-break location brimming with culture, haute couture, and gourmet cuisine has grabbed the headlines as the French capital is also the world’s capital of sports this year. Hosting the 2024 Olympic Games, the capital of France is the place to be for competing athletes and global brands sponsoring the largest sporting event
There are just a couple to take note of, as highlighted in bold. They are for USD/JPY and in a wider range, considering the volatility in the pair as we digest the BOJ decision. There is one at 152.50 which doesn’t hold much technical significance. But it could hold price from moving too much to
Well, but is he saying that it sort of did play a role in the decision today? Personally, I would think so. If they didn’t go with a rate hike today, the backlash after their intervention from earlier this month might have been quite brutal. The volatility in the yen continues to play out with
Fundamental Overview The S&P 500 has been on a steady decline since the last US CPI report on July 11th. In the first stages of the pullback, we’ve been seeing a rotation from big cap stocks into small cap stocks as the Russell 2000 displayed an opposite price action. Eventually, the bearish momentum picked up
This week is essential not only because of the central bank meetings (from the US, UK, and Japan) but also because of the quarterly earnings reports of the major technology companies. Results from Apple, Amazon, and Microsoft will be released, and there is always room for surprise. Investors expect these reports to exceed revenue and
That is very much expected and it reflects the 15 bps increase by the BOJ on their policy rate earlier here. But it is of course the first time they’re raising the rate in 17 years. So, a significant moment perhaps. Meanwhile, MUFG as a whole are only going to be raising the rates of
ING responding to the inflation data from Australia today: If you wanted to find a reason to leave rates unchanged at the 6 August meeting, there is some support in the core numbers published today to say, “Let’s give the economy the benefit of the doubt”. The August decision is certainly more finely balanced today
The EURJPY moved higher earlier today, breaking above the 100-hour MA (blue solid line on the chart below) in the process (currently at 166.679. The subsequent move higher extended toward the 100-day MA (step blue line on the chart below) in the Asian and early European session, but fell short of that target at 167.98.
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
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The major indices are higher in early US trade. After the close AMD, Microsoft, Starbucks, and Pinterest report earnings. Microsoft shares are trading up $2.15 or 0.50% in early trading. A snapshot of the market 12 minutes into the open is showing: Dow Industrial Average average is up 159.13 points or 0.39% at 40699.07 S&P
Nikkei is now getting in on the worst kept secret. They say that the DOJ is reportedly considering a rate hike to 0.25%. They also add that the central bank is looking to decide by how much and how fast to reduce its monthly purchases of Japanese government bonds. Meanwhile, the Nikkei reports that Japan’s
The USDCHF stretched higher yesterday to start the trading week, and in doing so moved toward the key 200-day MA/38.2% of the move up from the December 2023 low. Those levels came in near 0.8879 to 0.8883 respectively. The high price reached 0.8867 today (close but still a safe distance from the 200-day MA). Staying
Gold prices erased earlier losses, jumping more than $20 to $2405 after Israel’s defense minister said Hezbollah crossed red lines with a missile attack that killed 12 children. The response was a missile attack that the IDF said targeted the commander responsible for the attack. However two security sources cited by Reuters said the commander
They say competition is key. In business, it certainly leads to quicker innovation and more refined product offering. The cryptocurrency world is no different, with the dominant Bitcoin battling runner-up Ethereum for market share. Regardless of whose corner you stand in, cryptocurrencies are here, tradeable and making the news. If you bought Bitcoin at a
There are a couple to take note of, as highlighted in bold. The first one being for USD/JPY at the 155.00 mark. It’s a key area where offers are also lined up, so the expiries will add to a bit of resistance in preventing any major upside extension in the session ahead. Just be wary
Japan chief cabinet secretary Hayashi: Monetary policy specifics are up to the BOJ to decide Expect the BOJ to closely coordinate with govt, conduct appropriate monetary policy toward inflation target USD/JPY is range bound on the session, roughly 153.63 – 154.24 Currently around 154.05 This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Fundamental Overview The USD has been rallying steadily against most major currencies in the recent couple of weeks, although the catalyst behind the move has been unclear. A good argument has been that most of the moves we’ve been seeing in the past 10 trading days were driven by deleveraging from strengthening Yen. Basically, the
They were down roughly 0.3% earlier in Asia trading but have kept largely steady in European morning trade thus far. Both Nasdaq futures and Dow futures are also up 0.1%, reflecting a more tentative mood overall I would say. There will be a couple of modest earnings releases coming up but all eyes will be
The online trading and fintech space is brimming with excitement as the Nomination Round for the UF AWARDS APAC 2024 is now live. Starting on July 30, the Nomination Round is the first stage that leading businesses must complete in order to be considered for an APAC title. With so many reputable B2B and B2C
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