The big event of the week was the US core PCE data. The core PCE is the Fed’s favored measure of inflation. Expectations were for 0.3% increase. The actual increase rounded to 0.2% for the core measure. In reality, the unrounded number was 0.249% just under the number needed to round to 0.2%. As a
Month: May 2024
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
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
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
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
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
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
Broad-market risk appetite recovers on Friday as US PCE inflation eases. Canada saw a weaker-than-expected rebound in GDP. US PCE inflation cooled further, fueling rate cut hopes. The Canadian Dollar (CAD) is broadly higher on Friday, but gains are capped after softer-than-expected prints in Canadian economic data. Investor hopes for a September rate cut are
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 EURUSD yesterday moved higher until it reached its 100 and 200-hour moving averages. Sellers leaned against that level and push the price down into the Asian session where support buyers came in against its 100 day moving average (blue line at 1.08074).The price then started a move to the upside breaking back above the
S&P tests dual support level The US stocks continued their decline with the S&P index now down -33.74 points at 5201.92. The low price extended to 5191.68, and in the process tested key support defined by its 200-hour moving average at 5191.63 currently (green line on the chart below) and the 38.2% retracement of the
The USDCHF moved higher in the Asian session after a sharp fall yesterday. The correction higher however did store ahead of the 50% midpoint of the move up from the mid-May low. That level came in at 0.9072. The high price today on the rebound reached 0.90686 (3-4 pips short of the midpoint level). The
The USDCAD traded lower despite the we can expected GDP data today, but in the process is tested a swing area support between 1.36049 and 1.36154. Support buyers came in against the level and pushed the price back to the upside. On the top side, the 100-bar moving average on the 4-hour chart at 1.3658
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 strongest to the weakest of the major currencies The NZD is the strongest and the CHF is the weakest as the North American session begins. Today at 8:30 AM, the US PCE data will be released for the month of April. The core PCE is the favored inflation measure for the Fed. Adam previewed
This famous quote by “Phantom of the Pits” basically covers what trading is all about. The society trains us from our childhood that we need to do everything right and that we can’t make mistakes, but that doesn’t work in trading. Trading is not about being right, it’s about making money. Mistakes, losses, setbacks are
Fundamental Overview The USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off
After some back and forth action, the pair was more or less flat as we got into European trading today. Sellers wrestled back some momentum amid a drop in bond yields yesterday but today, we’re seeing buyers return the favour in erasing most of the decline from the day before: USD/JPY hourly chart The minor
The core Personal Consumption Expenditures Price Index is set to rise 0.3% MoM and 2.8% YoY in April. Markets see the Federal Reserve keeping the policy rate unchanged in June and July. A soft PCE inflation report could weigh on the US Dollar with the immediate reaction. The core Personal Consumption Expenditures (PCE) Price Index,
Maintaining the most up-to-date technology stack is a priority for any forex brokerage in 2024. It comes as no surprise that an increasingly competitive retail industry also necessitates tailored solutions that can prove to be an invaluable asset for any operation. This is where Intivion comes in, offering its freshly launched forex white label solutions
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 price trades with a mild positive bias on Friday. The weaker USD and decline of US yields support the yellow metal. Investors will take more cues from the US April PCE inflation data, which is due on Friday. Gold price (XAU/USD) advances modestly on Friday on the back of the softer US dollar (USD)
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
USDJPY daily Credit Agricole provides insights into upcoming events that could impact the Japanese yen, particularly the Ministry of Finance’s (MoF) monthly FX Intervention Operations report due this Friday. The focus is also on the potential effects of recent and possible future Bank of Japan (BoJ) activities on JPY valuation. Key Points: BoJ Rate Outlook:
The daily chart escapes overbought signals as the overall trend begins to consolidate. After reaching multi-year highs above 96.70, NZD/JPY enters a phase of consolidation with support found at 95.50. The 95.00 offers strong support to prevent further losses. On Thursday’s trading session, the NZD/JPY pair underwent further corrections, with sellers gaining momentum. Nonetheless, the
The NZDUSD moved lower earlier today reaching a new low for the week, but finding support buyers near the high of a swing area between 0.60733 and 0.60856. The price rotated back to the upside and now trades above its 200 hour moving average of 0.6118, but below it’s 100 hour moving average at 0.61323.
BEING A CONTRARIAN IS NOT ENOUGH In trading you generally hear that to make money you have to be a contrarian. This is a half-truth. You need to be an independent thinker. You shouldn’t be a contrarian just for the sake of it. There’s a famous saying “60 million Frenchmen can’t be wrong”. This is
Fundamental Overview The USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off
USD/CHF has seen gains in each of the opening four months this year. But in May trading, the pair looks set for its first monthly decline now. A chunk of that will owe to today’s drop, after having seen a bounce off key support at 0.9000 earlier this month. USD/CHF daily chart The combination of
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