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The market was pricing in a 15% chance of a rate cutBOC "still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation"BOC statement no longer says it "remains prepared to raise the policy rate further if needed" The...
When you go into a key event like a central bank rate decision, the potential for a fundamental move in the price action increases. That is reflective in the technical levels too. IN this video I outline what would need to happen to increase the bearish bias (the bias...
China is the big focus today after a not-entirely-surprising RRR cut. It came earlier than expected but the rumblings were certainly there.That it came after a leak about offshore fund repatriation to buy Chinese equities can hardly be seen as a coincidence.I wrote...
The largest online trading expo in the MENA region, iFX EXPO Dubai 2024, concluded last week after months of anticipation. Taking place in a major MENA fintech hub, the expo was heralded as a major success, drawing a crowded exhibition, engaging panels, and a record...
The kickstart video is a way to look at the three major currency pairs:EURUSDUSDJPY, andGBPUSDAnd get a technical feel for each of those pairs. What is the bias? What are risks and targets.EURUSD: The EURUSD reversed higher in trading today after yesterday's failed...
hourly USD/JPYUSD/JPY bottomed at 146.96 yesterday on comments from Ueda after the BOJ decision. The pair then rebounded strongly on broad US dollar strength to 148.55. However it's slumping again today after China cut the RRR by 50 bps in a sign that Beijing is...
The global PMIs have been rolling in throughout the day with the French one particularly weak and Europe showing signs of renewed softness. That hasn't deterred the euro bulls as EUR/USD has climbed 50 pips to 1.0903, erasing yesterday's decline.That's on general USD...
The strongest to the weakest of the major currenciesThe JPY is the strongest and the USD is the weakest at the US session begins. The USD has been hit after gains yesterday did not get follow-through price action:The EURUSD Fell below its 200-day MA intraday yesterday...
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 3.7 bps to 4.105%Gold up 0.2% to $2,033.14WTI crude down 0.4% to $74.05Bitcoin up 2.5% to $40,154It was an active session in Europe today with...
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,...
The central bank adds that while that is a tough scenario for the economy, an outright decoupling from China would be much worse for Germany in any instance.According to its simulations, real German GDP would be 0.7% lower in the first year of any economic crisis 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,...
The dollar is failing to find much comfort amid lower yields and more positive risk sentiment on the session thus far. While both factors are not stretching out too much for now, the greenback is still finding itself offered against the rest of the major currencies....
GBP/USD was already up to around 1.2730 but is now pulling higher to 1.2750 levels after the UK PMI data here. The beat on both the services and manufacturing prints in the UK reaffirms that the economy is keeping more resilient in recent months and that's good news...
Prior 53.4Manufacturing PMI 47.3 vs 46.7 expectedPrior 46.2Composite PMI 52.5 vs 52.2 expectedPrior 52.1The pound is getting a slight lift on this report here as it reaffirms a continued bounce in UK economic activity, particularly in services, to start the year. The...
Over the past few years, many predictions have been made about the imminent collapse of the market and the U.S. economy as a whole, but the reality has been far more optimistic.Were all the problems solved, or were there none at all?Let's just say that the risks...
Prior 48.8Manufacturing PMI 46.6 vs 44.8 expectedPrior 44.4Composite PMI 47.9 vs 48.0 expectedPrior 47.6The overall Eurozone readings are not as bad, even if it does reaffirm the sentiment from the French and German reports earlier. The downturn in the euro area...
In turn, that is weighing further on the dollar as USD/JPY falls to a low of 147.45 and is contesting key technical support in the form of its 100-day moving average (red line) again now:USD/JPY daily chartThe softer French and German PMI data may have something to do...
Economic Indicators & Central Banks: Expectations the FOMC is done hiking rates continued to support Wall Street even if aggressive rate cut bets have been trimmed, while earnings were mixed. Yields remain mostly higher, but off their peaks after the decent 2-year...
Prior 43.3Services PMI 47.6 vs 49.5 expectedPrior 49.3Composite PMI 47.1 vs 47.8 expectedPrior 47.4Similar to the French report, there is a beat on the manufacturing index but the services index came in worse than estimated. At the balance, it leads to a further...