With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI Amid the recovery in oil prices and ongoing struggles of the US Dollar, the USD/CAD pair is experiencing a downward trend, moving towards the 1.3200 mark ahead of the release of Canada’s PMI. The USD/CAD has slid to […]
Nikkei Paces Asia in Market Gains, China Trails
Nikkei Paces Asia in Market Gains, China Trails Asian stock markets kicked off the week on a positive note, with Japan’s Nikkei Index spearheading the gains while China trailed. The surge in demand for tech stocks fuelled Japan’s market, as investors prepared for a week filled with data that will offer vital insights into the […]
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP The US Dollar Index (DXY), a measure of the US dollar’s strength against a group of other major currencies, has seen a significant drop, touching an intraday low of around 102.90. This downward shift continues the retreat from a three-week high observed the […]
The GBP/USD pair is fluctuating within a limited range, hovering around the 1.2700 mark
The GBP/USD pair is fluctuating within a limited range, hovering around the 1.2700 mark As the new week unfolds, the GBP/USD pair is navigating within a tight range, lingering around the 1.2700 mark. This limited fluctuation indicates a lack of significant momentum for the currency pair, which could be indicative of market participants’ cautious approach […]
Dow futures are indicating a downward trend
Dow futures are indicating a downward trend During the evening trading session on Thursday, U.S. stock futures exhibited a varied performance, following a predominantly positive session for major benchmark averages. This optimistic sentiment was spurred by GDP data that outstripped expectations, thereby bolstering investor confidence. Furthermore, banks saw an upswing after the Federal Reserve announced […]
Mid-Year Outlooks for APAC Sector Less Risky Due to China’s Recovery
Mid-Year Outlooks for APAC Sector Less Risky Due to China’s Recovery The mid-year outlooks for the Asia-Pacific (APAC) sector seem less risky, largely attributable to China’s economic recovery. This represents a significant pivot from previous predictions, highlighted by Fitch Ratings’ recent analysis of 47 mid-year sector outlooks in APAC. Of these, they classified 13 as […]
USD/JPY steadies near YTD peak below 145.00 ahead of US PCE Index
USD/JPY steadies near YTD peak below 145.00 ahead of US PCE Index The USD/JPY currency pair is currently holding steady near its year-to-date (YTD) peak, hovering just below the 145.00 level. This comes as the pair trades comfortably in the 144.55-144.60 region, a clear sign of its recent upward momentum. The pair’s movement has been […]
What Is Lot Size in Forex Trading?
What Is Lot Size in Forex Trading? For those embarking on the journey of online forex trading, mastering the concept of ‘lot size’ is crucial. This fundamental principle is the cornerstone of currency trading, and a thorough understanding can significantly elevate your trading experience. This blog post aims to clarify the notion of a ‘lot’ […]
Despite BoE’s Bailey’s Hawkish Stance, Sellers Approach 1.2600 Ahead of Powell’s Speech
Despite BoE’s Bailey’s Hawkish Stance, Sellers Approach 1.2600 Ahead of Powell’s Speech The GBP/USD pair is drawing closer to a 15-day low near the 1.2620 mark as Thursday’s London market opens for trading. Investors are seemingly giving more weight to the impending speech from Federal Reserve Chairman Jerome Powell than to the statements made by […]
Bank of Japan’s Chief Defends Monetary Easing Amid Yen’s Decline
Bank of Japan’s Chief Defends Monetary Easing Amid Yen’s Decline Kazuo Ueda, the current head of the Bank of Japan, has publicly supported the institution’s continuous implementation of monetary easing policies, despite the ongoing depreciation of the yen. He justified this by pointing out that, although the headline inflation rate is above the set target […]
Ahead of Significant Data Releases, US Dollar Continues its Rally
Ahead of Significant Data Releases, US Dollar Continues its Rally The US Dollar (USD) is maintaining its strength against other currencies as it continues to rebound. The US Dollar Index remains near two-week highs around 103.00 after a surge on Wednesday. Today, the European Commission will release June’s business and consumer sentiment data during the […]
NZD/USD Nears Daily Low in Mid-0.6100s, Losses Curbed by Weakening USD
NZD/USD Nears Daily Low in Mid-0.6100s, Losses Curbed by Weakening USD The NZD/USD pair is edging towards its daily low in the mid-0.6100s, with a softer USD providing a buffer against further declines. Since the last session, the pair has seen a marked sell-off, with the drop originating from the 0.6200 mark. During Wednesday’s Asian […]
Xi Jinping of China Eases Foreign Investor Concerns Over Policy Uncertainties
Xi Jinping of China Eases Foreign Investor Concerns Over Policy Uncertainties In a bid to alleviate concerns and uncertainties, Chinese President Xi Jinping has recently assured foreign investors of his government’s unwavering commitment to addressing economic issues and unpredictable policy-making. Amid a backdrop of global apprehension, Xi underscored China’s dedication to development, openness, and the […]
Anticipation Grows for Possible FX Intervention to Support Japanese Yen
Anticipation Grows for Possible FX Intervention to Support Japanese Yen The Japanese Yen has faced a considerable amount of pressure recently, depreciating by 3.5% against the US Dollar and by over 5.6% against the Euro since the start of the month. The EURJPY pair has ascended to its highest point since September 2008, while the […]
How To Start Making A Profit with Forex Trading
How To Start Making A Profit with Forex Trading Forex trading has become increasingly popular, and numerous free resources are available to help you enhance your knowledge. These tools include eBooks, articles, videos, and webinars, each focusing on different aspects of Forex trading. Moreover, reliable brokers like XtreamForex offer comprehensive educational resources, making it easier […]
GBP/JPY Hits 183.00, a Level Unseen Since December 2015; Recession Fears Curb Gains
GBP/JPY Hits 183.00, a Level Unseen Since December 2015; Recession Fears Curb Gains On Tuesday, during the early European trading session, the GBP/JPY pair rose to 183.00, a level not seen since December 2015. However, traders are waiting for a sustained break above this level before initiating new bullish positions. The Japanese Yen (JPY) remains […]
US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq
US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq US indices showed varied performance in a subdued trading session. The Nasdaq index experienced a decline of over 1% as Big Tech companies retreated, making it the poorest-performing index of the day. Tesla shares took a significant hit, falling by 6% following […]
EUR/USD Remained Steady Amid Market Uncertainty
EUR/USD Remained Steady Amid Market Uncertainty The risk-off sentiment that dominated Friday’s market carried over into the European trading week, influenced by recent Russian unrest and a decline in German business sentiment. This decline was anticipated following last week’s disappointing German PMI. Risk sentiment turned more neutral during US trading hours, with US Treasuries giving […]