Gold Price Forecast: XAU/USD could rebound to $2,005 if 50 DMA support holds
Gold Price Forecast: XAU/USD could rebound to $2,005 if 50 DMA support holds Gold price is replicating the moves seen in Wednesday’s Asian trading, making headways for a minor recovery toward $2,000 early Thursday. The retreat in the United States Dollar (USD) and the US Treasury bond yields supports Gold price. US Dollar steadies as […]
EUR/USD, GBP/USD Hold Near Resistance Ahead of Euro
EUR/USD, GBP/USD Hold Near Resistance Ahead of Euro Both the EUR/USD and GBP/USD pair are holding near key points of resistance with inflation data set to be released from each economy tomorrow morning. While European inflation has fallen as the ECB has lifted rates with tomorrow expected to show at 6.9% for headline CPI, UK […]
EUR/USD April 2022 High Offers Resistance
EUR/USD April 2022 High Offers Resistance EUR/USD cleared the February high (1.1033) last week to register a fresh yearly high (1.1076), but lack of momentum to breach the April 2022 high (1.1076) may lead to a near-term pullback in the exchange rate as it snaps the recent series of higher highs and lows. EUR/USD forecast: […]
Best 5 Most Traded Currency Pairs in 2023
Best 5 Most Traded Currency Pairs in 2023 Forex is the largest financial market in the world, with $6.6 trillion traded each trading day. The Forex market is open 24-hours a day, five days a week. There is plenty of opportunity for trading Forex. There is a lot to learn when you start trading Forex, […]
Constructive Developments for the Consumer
Constructive Developments for the Consumer Developments in Australia and the US this week were supportive of our views for the RBA and the FOMC. The Westpac- MI Consumer Confidence Survey provided a positive update on confidence. The RBA’s decision to leave the policy rate unchanged in April proved to be an important support, with the […]
Fed Minutes Showed Recent Banking Turmoil May Result in Lower
Fed Minutes Showed Recent Banking Turmoil May Result in Lower The minutes of the March 21-22, 2023, Federal Open Market Committee (FOMC) meeting reaffirmed that price and financial stability are of paramount importance to the Fed. Regarding the economy, Committee members noted that “recent indicators point to modest growth in spending and output. At the […]
Solid US Jobs Growth Supports May Hike from Fed
Solid US Jobs Growth Supports May Hike from Fed Today we take a look at Nordic inflation with March figures CPI from Denmark and Norway. In Denmark, we expect a 0.6 percentage point decline to 7.0%, driven by base effects in energy prices. In Norway, we expect core inflation to rise by 0.2 percentage points […]
How risk management will save your trading account
Is your trading account hurting? Are you feeling overwhelmed, frustrated and ready to throw in the towel when it comes to trading”? Well, today’s lesson, if properly understood and implemented, can potentially give you the knowledge you need to literally save and rebuild your trading account. You’ve probably heard that about 90 to 95% of […]
Asia Shows its Strength as US Growth Prospects Dwindle
Asia Shows its Strength as US Growth Prospects Dwindle In Australia, the RBA was the focus of market participants’ attention. Outside the country, the RBNZ reaffirmed its hawkish resolve, while U.S. data weakened noticeably. The RBA decided to leave the key interest rate unchanged at 3.60% in April, a decision that was in line with […]
First Impressions: RBNZ Monetary Policy Review
First Impressions: RBNZ Monetary Policy Review The RBNZ raised the policy rate by an unexpectedly large 50 basis points, and another 25 basis point hike appears to be scheduled for the May Monetary Policy Statement. RBNZ Monetary Policy Report, April 2023 The Reserve Bank surprisingly raised the OCR by 50 basis points to 5.25% at […]
Australian Dollar Dips After RBA Leave Rates Unchanged
Australian Dollar Dips After RBA Leave Rates Unchanged The Australian Dollar slipped slightly in the aftermath of the RBA standing still on rates for the first time since May 2022. The RBA maintained some flexibility and didn’t rule out future hikes. In the accompanying statement on monetary policy, they said, “The Board expects that some […]
5 Ways to Improve Your Technical Analysis Skills
5 Ways to Improve Your Technical Analysis Skills Technical analysis can sometimes be seen as a simpler approach to forex trading than fundamental analysis. But, to be honest, it does come with a bit of a learning curve. Many forex traders who are just starting out find it difficult to understand technical analysis. And it […]
How to Become a Crypto Trader
How to Become a Crypto Trader As a traditional stock or forex trader, or as a new trader, you may feel left out of the thriving topic of trading cryptocurrency CFDs. While cryptocurrencies are becoming a major topic in the financial world, now is a good time to set the necessary steps on how to […]
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes
Gold Price Rallies As SVB Failure Casts Doubt for Fed Rate Hikes The price of gold carves a series of higher highs and lows following the failed attempt to test the February low of $1805, and the failure of Silicon Valley Bank (SVB) may continue to heighten the appeal of bullion as market participants scale […]
USD/JPY Outlook Mired by Failure to Test December High
USD/JPY Outlook Mired by Failure to Test December High USD/JPY appears to be reversing ahead of the December 2022 high 138.18 as it fails to hold above 200-day SMA, but the Bank Of Japan interest rate decision may curb the recent decline in the exchange rate as the central bank is expected to retain its […]
AUD/USD Defends January Low Ahead of RBA Rate Decision
AUD/USD Defends January Low Ahead of RBA Rate Decision AUD/USD trades in a narrow range after struggling to push back above the 200-Day SMA, and the Reserve Bank of Australia rate decision may keep the exchange rate afloat as the central bank is expected to implement higher interest rates. AUD/USD appears to be defending the […]
The RBA Expected hike 25bp
The RBA Expected hike 25bp The Reserve Bank of Australia are expected to hike their overnight cash rate by 25bp, which would see the OCR at a 10-year high of 3.6%. We noted in their February meeting that the statement has a hawkish tone, and that the wording suggested at least two more hikes are […]
The Week Head:- BOJ, RBA and BOC Meetings
The Week Head:- BOJ, RBA and BOC Meetings An exciting week for markets, with three major currency central banks announcing their monetary policy decisions and a Nonfarm payroll report. The RBA’s meeting on Tuesday is the most likely to be the live one, but don’t write off the BOJ’s ability of surprising market at Governor […]