BOJ Surprises with Removal of Forward Guidance – UOB Group
BOJ Surprises with Removal of Forward Guidance – UOB Group The Bank of Japan (BOJ) kept its monetary policy unchanged but unexpectedly removed its forward guidance, surprising markets, according to UOB Group Senior Economist Alvin Liew. No Change in Monetary Policy as Expected “At its scheduled Monetary Policy Meeting (MPM) on Friday (September 20), the […]
Pound Sterling Slips as UK PMI Misses Expectations
Pound Sterling Slips as UK PMI Misses Expectations The Pound Sterling (GBP) declined on Monday, driven by weaker-than-anticipated preliminary UK S&P Global Purchasing Managers’ Index (PMI) data for September and negative market sentiment. The British currency underperformed against most of its major peers, except for the Euro (EUR), which also fell due to a surprise […]
EUR/USD Holds Steady Near 1.1150 Ahead of Eurozone PMI Data
EUR/USD Holds Steady Near 1.1150 Ahead of Eurozone PMI Data The EUR/USD pair remains steady around 1.1160 during Monday’s Asian trading session. The US Dollar (USD) could weaken due to the increasing possibility of further interest rate cuts by the Federal Reserve (Fed) in 2024, which may support the EUR/USD pair. Last week, the US […]
Forex Fundamental Analysis: An Introduction
Forex Fundamental Analysis: An Introduction Forex fundamental analysis is a crucial method for understanding currency pairs and their true valuation in the market. This type of analysis focuses on the broader economic picture, examining key indicators such as interest rates, employment rates, GDP, international trade, and manufacturing. By evaluating these factors, traders can better understand […]
Bank of Japan Keeps Interest Rate Unchanged in September, As Expected
Bank of Japan Keeps Interest Rate Unchanged in September, As Expected On Friday, the Bank of Japan (BoJ) announced that it would maintain its short-term interest rate target between 0.15% and 0.25%, following a two-day monetary policy review. This decision aligned with market expectations. Back in July, the BoJ surprised markets by raising the policy […]
Gold Price Holds Steady Near Record Highs Despite Positive Market Sentiment
Gold Price Holds Steady Near Record Highs Despite Positive Market Sentiment Gold (XAU/USD) continues its upward momentum for the second consecutive day, edging closer to the $2,600 mark—just shy of its all-time high—during early European trading on Friday. This rise follows the Federal Reserve’s (Fed) substantial interest rate cut on Wednesday, with expectations for another […]
EUR/USD Price Outlook: Positive Momentum Sustains Above 1.1150
EUR/USD Price Outlook: Positive Momentum Sustains Above 1.1150 The EUR/USD pair remains on an upward trajectory for the third straight day, trading near 1.1165 during Friday’s Asian session. The pair’s strength is supported by a weaker US Dollar (USD), following an unexpected 50 basis point (bps) rate cut by the US Federal Reserve (Fed) at […]
WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production
WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.35 on Tuesday, continuing its rally as Hurricane Francine impacts oil production in the US Gulf of Mexico. The storm has caused significant disruptions, with the US Bureau of Safety and Environmental Enforcement […]
Japanese Yen Consolidates as US Dollar Holds Firm Amid Rising Treasury Yields
Japanese Yen Consolidates as US Dollar Holds Firm Amid Rising Treasury Yields The Japanese Yen (JPY) remained steady against the US Dollar (USD) on Tuesday, supported by the hawkish outlook on the Bank of Japan’s (BoJ) interest rate policy. Traders are cautiously awaiting the BoJ’s policy decision on Friday, expecting rates to remain unchanged but […]
GBP/USD Consolidates Near 1.3200, Eyes US Retail Sales for Short-Term Direction
GBP/USD Consolidates Near 1.3200, Eyes US Retail Sales for Short-Term Direction The GBP/USD pair is trading within a tight range slightly above the 1.3200 mark during the Asian session on Tuesday, consolidating the strong gains from the previous day, which pushed it to a one-week high. Investors are cautious ahead of key central bank events: […]
Australian Dollar Strengthens Amid Rising Odds of Aggressive Fed Rate Cut
Australian Dollar Strengthens Amid Rising Odds of Aggressive Fed Rate Cut The Australian Dollar (AUD) edged higher against the US Dollar (USD) on Monday, driven by growing speculation that the US Federal Reserve may implement a substantial 50 basis points (bps) rate cut in its upcoming policy meeting. This potential easing by the Fed could […]
EUR/USD Climbs Toward 1.1100 Amid Fed Rate Cut Speculation
EUR/USD Climbs Toward 1.1100 Amid Fed Rate Cut Speculation The EUR/USD began the week on a positive trajectory, trading around 1.1090 during Monday’s Asian session. Investors are now closely watching the US Federal Reserve’s (Fed) highly anticipated policy decision later this week, with uncertainty surrounding the size of the potential rate cut. Markets remain split […]
How to Open a MetaTrader 5 Account
How to Open a MetaTrader 5 Account Are you interested in opening a MetaTrader 5 demo or live account? In this guide, we’ll walk you through the steps needed to get started on MetaTrader 5 and begin your trading journey. Steps to Open and Trade on a MetaTrader 5 (MT5) Account Below are the five […]
Gold Price Nears Weekly High Ahead of US NFP Report, Remains Below $2,525 Resistance
Gold Price Nears Weekly High Ahead of US NFP Report, Remains Below $2,525 Resistance Gold price (XAU/USD) is trading near its weekly high for the third consecutive day on Friday, ahead of the European session. Despite this upward trend, investors remain cautious as they await the US Nonfarm Payrolls (NFP) report before making any significant […]
GBP/USD Gains Momentum Above 1.3150 Ahead of US NFP Data
GBP/USD Gains Momentum Above 1.3150 Ahead of US NFP Data The GBP/USD pair continues to strengthen, trading near 1.3180 during Asian hours on Friday, marking its third consecutive day in positive territory. The persistent weakness of the US Dollar (USD) is providing support for the pair. However, traders are eagerly awaiting the release of the […]
Nonfarm Payrolls Data to Test US Labor Market in August After July’s Slowdown
Nonfarm Payrolls Data to Test US Labor Market in August After July’s Slowdown The US Bureau of Labor Statistics (BLS) will release the much-anticipated Nonfarm Payrolls (NFP) data for August on Friday at 12:30 GMT. This labor market data is crucial for assessing the US Federal Reserve’s (Fed) upcoming interest rate decisions, particularly regarding a […]
Silver Price Forecast: XAG/USD Holds Below $28.50 as Traders Eye US PMI Data
Silver Price Forecast: XAG/USD Holds Below $28.50 as Traders Eye US PMI Data Silver (XAG/USD) is trading with a mild bearish bias around $28.25 early Thursday during the Asian session. A modest recovery in the US Dollar (USD) is weighing on silver prices. However, speculation that the US Federal Reserve (Fed) may implement a deeper […]
Australian Dollar Holds Losses Despite Hawkish RBA Bullock, ISM Manufacturing PMI in Focus
Australian Dollar Holds Losses Despite Hawkish RBA Bullock, ISM Manufacturing PMI in Focus The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) despite positive Trade Balance data released on Thursday. Australia’s trade surplus widened to 6,009 million AUD in July, surpassing both the expected 5,150 million and the prior figure of 5,589 […]