Why Reading Analyses is Essential for Trading
Over time, we’ve received comments questioning the necessity and usefulness of reading analyses for trading. These remarks have persisted for some time, so we’ve compiled a list of common criticisms along with responses to address each one. Why Should Traders Read Any Analysis? Forex trading is complex, and the world is full of variables that […]
WTI Crude Oil Remains Below $75.50 Amid Chinese Demand Concerns
WTI Crude Oil Remains Below $75.50 Amid Chinese Demand Concerns West Texas Intermediate (WTI) crude oil prices are hovering around $75.30 per barrel during the Asian session on Monday, pressured by concerns over weakened demand from China, the world’s top oil importer. Recent data from China revealed that Industrial Production increased by 5.1% year-on-year in […]
Australian Dollar Strengthens Amid Improved Risk Sentiment and Hawkish RBA Stance
Australian Dollar Strengthens Amid Improved Risk Sentiment and Hawkish RBA Stance The Australian Dollar (AUD) extended its winning streak against the US Dollar (USD) for the third consecutive day on Monday, driven by improved risk sentiment and a hawkish outlook from the Reserve Bank of Australia (RBA). Investors are now eagerly awaiting the RBA Meeting […]
Top 8 Chart Patterns Every Trader Should Know
Introduction Chart patterns are specific formations on a price chart that can predict future price movements. Technical analysis operates on the principle that history tends to repeat itself, and certain chart patterns have demonstrated a high probability of predicting specific price movements. These patterns are generally classified into two categories: Continuation patterns: – which signal […]
USD/CHF Dips Below 0.8750 Amid Risk-On Sentiment and Weaker US Dollar
USD/CHF Dips Below 0.8750 Amid Risk-On Sentiment and Weaker US Dollar The USD/CHF pair is trading lower, hovering around 0.8715 during the early European session on Friday. This decline is attributed to a softer US Dollar (USD). Meanwhile, the US Dollar Index (DXY), which measures the value of the USD against a basket of major […]
Gold Price Awaiting US Macro Data for Potential Gains
Gold Price Awaiting US Macro Data for Potential Gains Gold prices (XAU/USD) saw a decline on Wednesday as investors adjusted their expectations for the Federal Reserve’s (Fed) policy after the release of US consumer inflation data. However, persistent geopolitical tensions in the Middle East, expectations of the Fed initiating a rate-cutting cycle soon, and a […]
EUR/USD Steadies Above 1.1000 Ahead of US Retail Sales Data
EUR/USD Steadies Above 1.1000 Ahead of US Retail Sales Data The EUR/USD pair is holding steady near 1.1010, consolidating its gains after pulling back from a recent seven-month high during the Asian session on Thursday. The Euro (EUR) strengthened against the US Dollar (USD) after the Eurozone’s second-quarter (Q2) Gross Domestic Product (GDP) growth met […]
5 Key Forex News Events You Should Follow
In the fast-paced world of currency markets, where significant movements can occur without warning, it’s crucial for new traders to understand the various economic indicators and forex news events that influence the markets. Quickly identifying which data to watch, understanding its implications, and learning how to trade based on this information can significantly enhance a […]
Asian Shares Rise, Kiwi Slumps as New Zealand Cuts Rates
Asian Shares Rise, Kiwi Slumps as New Zealand Cuts Rates Asian shares climbed on Wednesday following softer-than-expected U.S. producer price data, which bolstered hopes for mild consumer price inflation. Meanwhile, the New Zealand dollar (kiwi) tumbled after the Reserve Bank of New Zealand (RBNZ) cut interest rates for the first time since early 2020. European […]
EUR/USD Holds Below 1.1000 as Markets Await Eurozone GDP and US CPI Data
EUR/USD Holds Below 1.1000 as Markets Await Eurozone GDP and US CPI Data The EUR/USD pair is trading flat around 1.0990 during the early European session on Wednesday, as traders remain cautious ahead of the release of key economic data from both the Eurozone and the US. The focus is on the Eurozone’s Gross Domestic […]
Australian Dollar Declines as US Dollar Gains Strength Ahead of CPI Inflation Data
Australian Dollar Declines as US Dollar Gains Strength Ahead of CPI Inflation Data The Australian Dollar (AUD) has weakened against the US Dollar (USD) following an unexpected rate cut by the Reserve Bank of New Zealand (RBNZ) on Wednesday. The RBNZ reduced its Official Cash Rate (OCR) by 25 basis points to 5.25% from 5.50%. […]
Oil Retreats as Markets Shift Focus to Demand Concerns
Oil Retreats as Markets Shift Focus to Demand Concerns Oil prices declined on Tuesday, ending a five-day rally as the market shifted its focus back to concerns over demand, following OPEC’s recent downward revision of its 2024 demand growth forecast due to weaker expectations in China. Global benchmark Brent crude futures dropped by 57 cents, […]
Japanese Yen Holds Losses as US Dollar Stabilizes Ahead of Key Economic Data
Japanese Yen Holds Losses as US Dollar Stabilizes Ahead of Key Economic Data The Japanese Yen (JPY) continued its decline against the US Dollar (USD) on Tuesday, with safe-haven flows offering some support amid rising geopolitical tensions in the Middle East. Japan’s parliament is set to hold a special session on August 23 to discuss […]
USD/CAD Struggles to Gain Momentum Near 1.3750 Amid Rising Crude Oil Prices; Focus Shifts to US PPI Data
USD/CAD Struggles to Gain Momentum Near 1.3750 Amid Rising Crude Oil Prices; Focus Shifts to US PPI Data The USD/CAD pair is trading slightly stronger near 1.3740 during the Asian session on Tuesday, with traders largely adopting a cautious stance ahead of key US economic data releases. The US Producer Price Index (PPI) is the […]
Australian Dollar Advances as RBA Signals Potential Rate Hike
Australian Dollar Advances as RBA Signals Potential Rate Hike The Australian Dollar (AUD) rebounded against the US Dollar (USD) on Monday, driven by hawkish sentiment surrounding the Reserve Bank of Australia (RBA). Positive inflation data from China, a key trading partner, also provided support for the Aussie Dollar. RBA Governor Michele Bullock emphasized the importance […]
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions The EUR/USD pair has broken its four-day losing streak, trading around 1.0920 during the Asian session on Monday. Traders are anticipating the preliminary Gross Domestic Product (GDP) data for the Eurozone’s second quarter, set for release on Wednesday. However, the Euro, being sensitive to risk, […]
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation Wall Street is poised to start the week slightly higher as investors closely watch the latest inflation data, seeking confirmation that the Federal Reserve might begin cutting interest rates in September. While the quarterly earnings season is winding down, the retail sector will take center […]
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses Gold prices dipped in Asian trading on Friday, weighed down by positive U.S. labor data that boosted risk appetite and reduced demand for safe-haven assets. This decline put the yellow metal on track for weekly losses. In the industrial metals sector, copper prices also […]