Fundamental Overview Yesterday, we got two strong US data releases as the Jobless Claims and Retail Sales figures came out much better than expected. The initial reaction was US Dollar bullish, but after a while the market started to fade the move. The reason is that the risk-on sentiment is generally negative for the greenback
Month: August 2024
Few assets have had as wild of a journey over the past decade as Bitcoin, with the leading crypto poised to make further waves in 2024. Despite all its ups and downs, Bitcoin still reigns supreme with the largest cap of any crypto and unquestionable dominance amongst retail traders and adoption. With this in mind,
Fundamental Overview Yesterday, we got two strong US data releases as the Jobless Claims and Retail Sales figures came out much better than expected. The initial reaction was US Dollar bullish, but after a while the market started to fade the move. The reason is that the risk-on sentiment is generally negative for the greenback
Fundamental Overview Yesterday, we got some strong US data as the Jobless Claims and Retail Sales figures came out much better than expected. All the major currencies gained against the Yen for two main reasons. The first is that yields rose across the board as the market continues to price out the aggressive rate cuts
There is no better feeling than standing out from the crowd with an award voted for by industry peers. Winning a UF Award represents one of the crowning achievements of any forex brokerage or fintech provider. As the Nomination Round reaches its final stages, numerous nominees are continuing to pour in. Don’t worry though, there
WTI edges lower on Friday and erodes a part of the previous day’s positive move. China’s economic woes and an unexpected build in US inventories exert pressure. Middle East tensions and hopes of improving demand should limit deeper losses. West Texas Intermediate (WTI) US crude Oil prices struggle to capitalize on the overnight bounce from
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 traded back above 1.2860 after US Retail Sales data beat. Improving economic data releases ease market fears of US recession. UK GDP met expectations, and manufacturing improved more than expected. GBP/USD recovered back into the high side on Thursday after a bullish tilt in UK data prints coupled with better-than-expected US Retail Sales figures
WTI crude oil daily Consumers still have money to fill their tanks or fly away. That’s the message from today’s US retail sales report and commentary from executives at Walmart. Both emphasized a strong US consumer and WMT said the global consumer was also fine. If so, spending at gasoline stations is likely to remain
USD/JPY daily USD/JPY soared after stronger US retail sales but stalled right at a key level. It rose to 149.32, just two pips shy of the 38.2% retracement of the swan dive from 161.80 to 141.67. It’s stalled there and backed off to 148.96. The Fibonnaci level is a classic barrier in a bounce from
After the release of “Ready Player One” in 2018, which illuminated the possibilities of VR, the idea that virtual reality would become a breakthrough in progress soon really caught on. Companies jumped on the bandwagon, investing tons of money in developing this futuristic technology. Unfortunately for their stakeholders, however, not much profit has been seen.
Fundamental Overview The Nasdaq has been on a steady rise ever since the last week’s US Jobless Claims as the data quelled the fears around the labour market following the weak NFP report. The “growth scare” triggered by the ugly ISM Manufacturing PMI and the weak NFP report looks to be behind us for now.
Decline in the US Dollar (USD) seems to have stabilised; it is likely to trade in a 7.1350/7.1630 range today. While downward momentum has been boosted, it is unclear at this time if it is sufficiently enough for USD to break below 7.0635, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
Fundamental Overview The S&P 500 has been on a steady rise ever since the last week’s US Jobless Claims as the data quelled the fears around the labour market following the weak NFP report. The “growth scare” triggered by the ugly ISM Manufacturing PMI and the weak NFP report looks to be behind us for
AUD/USD daily chart It’s been a bit of a back and forth week for the pair but price action is ultimately looking to settle higher. The pair nudged higher on Tuesday but was dragged back down yesterday despite some dollar softness in play. But after the more solid employment figures earlier here, we are seeing
Fundamental Overview The price action in the Russell 2000 has been mostly rangebound in the past couple of weeks although the sentiment continues to favour more upside. The “growth scare” after the ISM Manufacturing PMI and the NFP report looks to be behind us thanks to the US Jobless Claims last week. This week we
Chelsea Football Club and TMGM are excited to announce a multi-year extension of their partnership. Having worked together since 2023, TMGM continues its position as the club’s Official Regional Online Forex and Trading Partner in the Asia-Pacific region. As an industry leader with offices on three continents, TMGM is renowned for its reliability in CFD
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
Following the publication of the high-impact China’s growth and activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Thursday. Key quotes (via Reuters) China’s economic operation is generally stable in July. Rising negative impact from changes to China’s external environment. developing story ….
On Thursday, the focus of US markets will shift from inflation to the health of the consumer. Interest rates are biting with a smattering of large companies reporting softening spending, including Home Depot and McDonald’s. Spending so far appears to be hurting most in rate-sensitive spaces but could quickly spread if consumers retrench. So far
XAU/USD Current price: $2,443.88 The United States Consumer Price Index resulted marginally softer in July. Market participants keep beating the Federal Reserve will trim rates in September. XAU/USD could extend its slide once clearly below $2,438.80, a Fibonacci support level. The US Dollar started the day on the back foot, shedding ground against most major
Whether just starting a trading journey or being a veteran of twenty years, everybody has something to learn as an investor. Knowledge is always at a premium, and this is why its developed into such a strong area of focus at the upcoming Finance Magnates Pacific Summit (FMPS), coming this August 27-29 in Sydney, Australia.
Fundamental Overview Yesterday, the US PPI report missed expectations by a big margin triggering a selloff in the US Dollar as the market started to position into a potentially soft US CPI release today. That led to a key breakout in the NZDUSD pair which didn’t last as the RBNZ tonight cut rates by 25
Fundamental Overview Yesterday, the US PPI report missed expectations by a big margin triggering a selloff in the US Dollar as the market started to position into a potentially soft US CPI release today. The UK CPI this morning missed estimates across the board as well and raised the probabilities of a back-to-back cut in
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
Strong momentum suggests further New Zealand Dollar (NZD) strength, even though it is unlikely to be able to reach the significant resistance at 0.6120, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. Closest support is at 0.6005 24-HOUR VIEW: “Although we expected NZD to rise above 0.6035 yesterday, we indicated that
Fundamental Overview Yesterday, the US PPI report missed expectations by a big margin triggering a selloff in the US Dollar as the market started to position into a potentially soft US CPI release today. For the Fed, the market is split between a 25 and 50 bps cut in September and a total of 107
The Australian Dollar appreciates as recent labor data reduces the likelihood of an RBA rate cut in the near term. The Aussie Dollar may face challenges due to safe-haven flows amid rising geopolitical tensions in the Middle East. The US Dollar experienced losses following downbeat Producer Price Index data on Tuesday. The Australian Dollar (AUD)
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 major US indices got a boost from lower-than-expected PPI data. Tomorrow the CPI will be released. The PPI data does not necessarily translate into the CPI, but there is some crossover to the PCE data that will be released later this month. Tomorrow, CPI is expected to show a 0.2% gain after a -0.1%
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