Japan’s National Consumer Price Index (CPI) rose 2.5% YoY in September, compared to the previous reading of 3.0%, according to the latest data released by the Japan Statistics Bureau on Friday, Further details unveil that the National CPI ex Fresh food arrived at 2.4% YoY in September versus 2.8% prior. The figure was above the market consensus
The big shift in betting odds in Polymarket has people intrigued about what is happening under the surface that has some people more-confident that Trump will win the Presidency. He’s at 61% now and that’s spawned all kinds of conspiracy theories as the polls haven’t moved much. But I’m less interested in the Presidency for
The EURUSD has been trending to the downside recently, and in the process has extended toward August low levels. My most recent technical videos on the pair, have been focused on the 4-hour chart as the market trended lower. If you watch the kickstart video from earlier today I also spoke to the 200-day moving
The USDCAD moved up for 9 consecutive days and was on its way to 10 straight on Tuesday before hitting a resistance target area near 1.3833 to 1.3847 and finding sellers/profit takers. The move back to the downside saw the price move down for 2 days and back to a low today of 1.3743 –
As fully expected, the ECB cut rates by 25bps today, TDS’ economists note. Fragmentation risks in euro area grow “The tone of the decision was marginally dovish, with Lagarde refusing to rule out that a 50bps cut was debated, and pointing to emerging downside risks to inflation. This leaves sequential 25bps cuts firmly on
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
FP Markets, a global multi-asset Forex and CFD broker, participated in the Forex Expo Dubai 2024 earlier this month. The largest trading event in the Middle East took place in Dubai, UAE, from 7-8 October and drew an impressive 18,000 visitors this year. The FP Markets Team was invited to participate in two segments: ‘Future
U2U Network, a Layer-1 blockchain pioneer in decentralized infrastructure backed by top investors like KuCoin Ventures, Chain Capital, and IDG Blockchain, is excited to announce the launch of its first-ever DePIN Node Sale. This sale provides an opportunity for participants to acquire decentralized nodes and contribute to U2U’s growing DePIN infrastructure. With this sale, U2U
Fundamental Overview The 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
EUR/USD extends its downside to near 1.0850 as traders brace for the ECB policy meeting. The ECB is expected to cut its key borrowing rates by 25 bps for the second straight meeting. Growing speculation for Trump’s victory has strengthened the US Dollar. EUR/USD exhibits weakness near 1.0850 on Thursday. The major currency pair faces
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 Australian Unemployment Rate is foreseen stable at 4.2% in September. Employment Change is expected at 25K, focus will be on the details. AUD/USD is technically bearish, so any data-inspired spike may attract sellers. The Australian Bureau of Statistics (ABS) will release the monthly employment report at 00:30 GMT on Thursday. The country is expected
As the US session works to a close and the Asian Pacific looks to restart, the NZDUSD is pushing the 61.8% retracement target at 0.60509. If the price can move back below that retracement, the low from the first hours of the trading day today down at 0.60387, followed by the low of a swing
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 AUDUSD fell below its 100-day moving average earlier in the Asian session at 0.6694, and after bouncing off a Asian session low of 0.6667, the subsequent corrective high found willing sellers near that moving average level and below the 0.6700 natural resistance level. The last few hours have seen more downside momentum which is
GBP/USD drops 0.34%, reaching a low of 1.2981 after soft UK inflation report shocks markets. A close below 1.3000 could lead the pair to test the 100-DMA at 1.2951 and further support levels. If bulls regain control, resistance at 1.3100 and the 50-DMA at 1.3118 are key upside targets. The Pound Sterling dived following 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
While gold and silver often move in tandem, their relationship can sometimes be complicated. Despite sharing similar characteristics and applications, differences in underlying demand and supply dynamics can lead to occasional divergences. Octa broker discovers the nuances behind the gold-silver correlation and explores potential trading opportunities with the gold-silver ratio. Over the past 40 years,
The Pound Sterling falls vertically after the UK inflation data for September came in slower than expected. UK annual headline CPI decelerated below the bank’s target of 2%. Traders expect the Fed to cut interest rates moderately in the remainder of the year. The Pound Sterling (GBP) faces an intense sell-off as the United Kingdom
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
GBP/USD churned just north of 1.3000 for a fourth straight trading day. UK labor figures were a non-starter on Tuesday. Cable markets are awaiting Wednesday’s upcoming UK CPI inflation update. GBP/USD churned chart paper in familiar territory for a fourth consecutive trading day on Tuesday. Cable continues to cycle in a dead zone between 1.3100
October began strong for the oil market, with WTI crude prices rising 16% in the first week to $78, above the VWAP and indicating an uptrend. Some feared prices could hit $100, raising worries about inflation. Several factors led to this change in sentiment after months of decline. First, China announced its largest stimulus package
Oil daily Various reports suggest that Israel won’t strike Iran’s oil infrastructure in retaliation for recent strikes. The latest report cited officials from the Biden administration, speaking anonymously to the Associated Press, was said that Israel has pledged not to attack Iranian oil and nuclear sites. However, these officials express skepticism about the reliability of
USD/CHF is correcting back after peaking as it extends its uptrend. The pair will probably resume its bullish bias after the pull back has completed. USD/CHF is pulling back within its short-term uptrend after peaking at 0.8642 on Monday. The move is only likely to be a temporary correction, however, before the pair resumes its
Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US
The Dow Jones Futures have been trading within a well-established upward price channel since October 2022, with clear instances of both resistance and support interactions within the channel. Dow Jones futures – important potential sell zone to watch Key Highlights of the Dow Jones futures chart below: Price Channel Overview: The price has respected the
Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US
Here’s a snapshot of things at the moment: S&P 500 futures flat Nasdaq futures -0.1% Dow futures +0.2% Eurostoxx -0.4% Germany DAX +0.2% France CAC 40 -0.7% UK FTSE -0.4% In Europe, the overall mood is more mixed with only the DAX looking to push up. The German index briefly touched record highs earlier as
Elections can significantly impact the financial market due to the uncertainty it brings from each candidate’s views on specific policy issues, which can cause the market to become volatile. The results of an election, combined with the winners’ policy changes in various sectors such as healthcare, trade, taxation, and economy, can cause market participants to
Here is what you need to know on Tuesday, October 15: Following a quiet start to the week, the US Dollar (USD) gathered strength and managed to build on the previous week’s gains, with the USD Index reaching its highest level since early August above 103.00 on Monday. The US economic calendar will not offer
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