The USD weakened across the board yesterday following a notable miss in the US initial claims data as that added some more pressure on the USD with the market weighing the possibility that the labour market could weaken fast enough in the next months to justify more...
UBS bumps BOE rate cut forecast to June, up from August previously
UBS did correctly call for a change in the bank rate vote, noting that Ramsden would join Dhingra in opting for a 25 bps rate cut. The firm also mentioned before the meeting that while their base case is for August, there is a risk of the BOE moving in June. And now,...
Reddit Q1 Earnings: Well Begun Is Half Done?
Reddit just released its first-quarter earnings report as a newly public company. The social media and chat platform pleasantly surprised investors with a significant increase in revenue.Following the release of its earnings report on Tuesday, Reddit stock skyrocketed...
iFX EXPO International 2024: Don’t Miss Out!
The countdown is officially on for iFX EXPO International 2024 with just under a month and a half to go until the world’s dominant online trading expo gets underway in Limassol, Cyprus. The flagship event is taking place at the prestigious City of Dreams Mediterranean...
USD/JPY settles below 156 amid a modest recovery this week, what’s next?
USD/JPY daily chartThe pair has observed a pretty solid recovery this week, as dip buyers are showing some courage. Japan intervened in trading last week to drag the pair down to 152.00, helped out by some softer US data. But since then, it has been one-way traffic...
Gold, Silver Update: Can Precious Metals Maintain the Bid in the Coming Week?
Gold (XAU/USD), Silver (XAG/USD) AnalysisGold trades higher after data and central bank developments buoy precious metalsSilver tests prior zone of resistance after latest bullish impetusUS CPI data next week is the next potential market moverThe analysis in this...
The BoE To Cut Rates In September. US Employment Data Falters!
The UK economy experiences its strongest growth since August 2023, with Monthly GDP increasing 0.4%, four times higher than expectations. The Bank of England saw 2 out of 9 members vote for an interest rate cut. The dovish members of the BoE are Dr Swati and Sir...
Beware of algos impact on the markets
Nowadays, there’s lots of algorithmic trading in the markets which is generally responsible for short-term moves. When you see quick spikes in the price, that generally happens because of algos. These are automatic algorithms that are programmed to identify...
Gold looks to snap back-to-back weekly declines with quick change of pace
Gold is up 1% today, nearing $2,370 now as buyers are looking to build on the jump higher yesterday. The precious metal was bid as the dollar faltered after the weaker US weekly jobless claims data. And that is providing a sudden change of pace for gold after having...
European equities look to make it a perfect run this week
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,...
What are the main events to watch out for today?
There’s no top tier economic release in the European session today, so the action will likely be mostly in the US session as we get the Canadian labour market report and the US University of Michigan consumer sentiment survey.The Canadian labour market report is...
UK finance minister Hunt says the economy has turned the corner
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,...
UK March monthly GDP +0.4% vs +0.1% m/m expected
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,...
UK Q1 preliminary GDP +0.6% vs +0.4% q/q expected
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,...
FX option expiries for 10 May 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first one being for EUR/USD at the 1.0825 level. However, this is one that might not factor in too much into play given the technicals. The 200-day moving average at 1.0791 and offers lined up...
Next rate hike could come as early as July, says former BOJ executive
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,...
UK GDP in focus in the session ahead
The US weekly jobless claims yesterday helped to inject some life into markets, as we look to the final stretch of the week now. The dollar dropped as risk trades jumped, providing a bit of a teaser perhaps to next week. Things are calmer now with the dollar steadying...
We got a teaser yesterday of what to expect in trading next week
It was a quiet one yesterday up until the release of weekly jobless claims in the US. The release here was weaker than estimated and that kicked off more fears about a softening in the labour market, following the non-farm payrolls report on Friday last week. As a...
Chinese media says home purchases restrictions are unlikely to be completely removed
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,...
ForexLive Asia-Pacific FX news wrap: USD higher across the major FX board
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,...