Euro Having Harder Time Against Both Dollar and Sterling
Euro Having Harder Time Against Both Dollar and Sterling The University of Michigan consumer confidence for the month of May unexpectedly set the tone for last week’s trading session WS. The overall indicator fell more than expected, from 63.5 to 57.7, the lowest level since last July. However, markets focused on the prospective inflation expectations […]
AUD/USD Dips on Soft Retail Sales
AUD/USD Dips on Soft Retail Sales AUD/USD ends 6-day rally Australian retail sales decline Fed warns that banks are tightening credit The Australian dollar is in negative territory, ending a rally of close to 200 points. In the European session, AUD/USD is trading at 0.6760, down 0.29% on the day. Australian retail sales decline Australian […]
Best Forex STP Brokers in 2023
Best Forex STP Brokers in 2023 There are two types of Forex brokers, Market Makers and STP Brokers. They differ based on market execution and price quotation methods. Some brokers offer both services at the same time, however usually when they offer both services some are suspicious that they may be applying Market Maker methods […]
JPY Bearish Positioning is Getting Overstretched
JPY Bearish Positioning is Getting Overstretched Better than expected US non-farm payrolls for April have failed to ignite US dollar bulls. Two outliers; the safe haven currencies, CHF and JPY underperformed against the US dollar due to the resurgence of risk-on behavior in the US stock market. JPY future’s bearish positioning has highlighted a risk […]
Will Nonfarm Payrolls Hint at a Fed Pause in June?
Will Nonfarm Payrolls Hint at a Fed Pause in June? The Federal Reserve delivered its tenth consecutive rate hike on Wednesday, as expected, but reset its guidance to indicate increased emphasis on incoming data. Hence, Friday’s nonfarm payrolls will be the next test for the US dollar at 12:30 GMT, with forecasts pointing to a […]
How To choose the right forex broker
How To choose the right forex broker If you are a new trader about to start trading forex then you are having the most confusing time of the process, trying to find the right broker. Worry no more, this articles has some important tips which will make the process much easier for you. To start […]
A Risky Lopsided US Stock Market Performance
A Risky Lopsided US Stock Market Performance The year-to-date performance of the S&P 500 has been heavily skewed by the top 8 market cap stocks (FAANG + MNT). US regional bank fear persists despite the takeover of First Republic Bank by JPMorgan Chase. Markets are looking out for clues on the timing of the first […]
RBA Board Hikes the Cash Rate by 0.25%
RBA Board Hikes the Cash Rate by 0.25% Choosing to raise is the better policy option, even if it is not consistent with our interpretation of the implicit guidelines. The Reserve Bank Board raised the policy rate by another 0.25% at its May meeting, bringing the policy rate to 3.85%. The decision came as a […]
The 5 Most traded Currency Pairs In 2023
The 5 Most traded Currency Pairs In 2023 The foreign exchange market is the largest financial market in the world, trading $6.6 trillion every day. The foreign exchange market is open 24 hours a day, five days a week. There are many opportunities for foreign exchange trading. When you start forex trading, you have […]
Slightly Easing Price Pressures
Slightly Easing Price Pressures A busy week of data releases and central banks begins on a quiet note. Today we are eager to see if the US ISM manufacturing index for April reflects similar strength to previous PMIs. Early Tuesday morning, we expect the RBA to leave monetary policy unchanged in line with market […]
RBA Board to Pause Again at its May Meeting
RBA Board to Pause Again at its May Meeting The Reserve Bank Board meets next week on May 2. Following the release of the March quarter inflation report Westpac now expects the Board to extend the pause it instigated at its April meeting to the May meeting. This decision comes despite the likelihood that the […]
Temporary First Republic-Related Stress to Fade Further
Temporary First Republic-Related Stress to Fade Further Shares of First Republic remain on a slide, but the spillover to other markets was much less than Tuesday. The new sell-off in the stock came after CNBC reported that the U.S. government is currently unwilling to intervene on behalf of the bank. Advisors to the bank are […]
Riksbank to Deliver 50bp Rate Hike Today
Riksbank to Deliver 50bp Rate Hike Today Today’s main event will be the Riksbank’s policy rate decision at 9:30 CET, where we expect a 50 basis point hike in line with market prices. We also expect the Riksbank to announce another rate hike in June (more on this in the Nordic section). On the data […]
Caution Prevails Ahead of Big Tech Earnings
Caution Prevails Ahead of Big Tech Earnings Most Asian equities flashed red on Tuesday, pressured by losses in Chinese shares as investors evaluated China’s re-opening story in the face of negative economic and geopolitical forces. European futures are pointing to a mixed open with market players guarded ahead of another event-heavy week for financial markets. […]
How To Identify Trading Trends in Forex Market
How To Identify Trading Trends in Forex Market The forex market is the most traded global financial market. In this, participants can exchange a country’s currency for another currency. You can trade actively in this market for 24 hours a day for seven days a week across multiple time zones. Investors trade for a currency […]
US Dollar strength weighs on Gold price
US Dollar strength weighs on Gold price Gold is struggling to capitalise on Friday’s modest rise from the $1.970 region and is coming under selling pressure on the first day of the new week. The XAU/USD pair is trading around the $1.977 level during the Asian session, remaining within striking distance of a two-week low […]
NZ Consumers Price Index
NZ Consumers Price Index Consumer prices rose 1.2% in the March quarter and are up 6.7% over the past year. The March result was below our forecast, and much lower than the RBNZ’s expectation. New Zealand consumer prices rose 1.2% in the March quarter, with prices up 6.7% over the past 12 months. Today’s result […]
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 […]