US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
US May CPI Inflation The Main Dish Today
US May CPI Inflation The Main Dish Today US stock markets retained positive momentum yesterday with the three main indices rising by 0.55% (Dow) to 1.5% (Nasdaq). The S&P 500 rose by almost 1%, closing above the August 2022 top. Tech bell weather Nasdaq cleared that same technical hurdle earlier this month. Stock markets embrace […]
EUR/USD flat-lines around mid-1.0700s, traders await US CPI and FOMC decision this week
EUR/USD flat-lines around mid-1.0700s, traders await US CPI and FOMC decision this week The EUR/USD pair recovers a few pips from the Asian session low and for now, seems to have stalled its retracement slide from over a two-week high touched on Friday. Spot prices currently trade just below mid-1.0700s, nearly unchanged for the day, […]
Chinese Markets Unmoved By This Morning’s Price Data
Chinese Markets Unmoved By This Morning’s Price Data US weekly jobless claims, of all things, was responsible for yesterday’s main market move. Applications rose from 233k to 261k, more than the 235k expected. It triggered a US bond rally which dragged European peers higher as well. While it doesn’t change expectations for a pause at […]
EUR/USD: Planning for Friday’s NFP Volatility
EUR/USD: Planning for Friday’s NFP Volatility EUR/USD started June with a 100-pip rally after a volatile end to May. Given the selloff we saw last month, a retracement in early June was to be expected, although I did think a 1.0600 retest might come first. So what should we watch ahead of Friday’s non-farm payroll […]
What is a Forex Spread?
What is a Forex Spread? A Forex spread is the difference between the bid price and the ask price of a currency pair. Each Forex company offers different spreads on each of its currency pairs. For example if the EUR/USD pair has a spread of 1.5 pips that mean the trader will be able to […]
Forex and Cryptocurrency Forecast
Forex and Cryptocurrency Forecast EUR/USD: Dollar Awaits U.S. Bankruptcy The dollar has been rising since May 4. Last week, on May 26, the DXY Index reached 104.34. It hasn’t been this high since mid-March 2023. What is driving the U.S. currency up and, consequently, pushing the EUR/USD pair down? According to analysts at Commerzbank, “the […]
Fed’s 2 Biggest Hawks Yesterday Coloured Trading
Fed’s 2 Biggest Hawks Yesterday Coloured Trading The Fed’s two biggest hawks yesterday coloured trading which until then turned out to be non-directional. Kashkari from the Minneapolis Fed said it’s a close call between a pause and a hike in June, adding that the former wouldn’t mean tightening is over per se. St. Louis Fed […]
EUR/USD Trying to Extend Bottoming Out
EUR/USD Trying to Extend Bottoming Out U.S. Treasuries and German bunds parted ways Friday after a combined 10 basis point rise the day before. U.S. yields still rose between 1.3and 4.8 basis points, with the belly underperforming. They easily overcame a setback in the early hours of U.S. trading when Fed Chairman Powell said credit […]
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 […]
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 […]
EUR/USD Key Resistance Test
EUR/USD Key Resistance Test EUR/USD: EUR/USD continues to struggle with resistance around the 1.1000 level, despite aggressive comments from ECB, which were reiterated in the release of the meeting minutes of the Bank’s latest rate hike. Headline inflation CPI has continued to fall in both the U.S. and Europe, and this week eurozone inflation CPI […]
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: […]
EUR/USD struggles to reach yearly high ahead of NFP report
EUR/USD struggles to reach yearly high ahead of NFP report EUR/USD is struggling to test the yearly high (1.1033) as it fails to continue the series of higher highs and lows from the beginning of the week, and the U.S. labour market data (NFP) report may weigh on the exchange rate as employment is expected […]
The 5 Major Currency Pairs in Forex Market
The Importance of Major Pairs The foreign exchange market is a place where trading in all currencies takes place. However, the volume of trade that takes place in different currencies varies greatly. Although there are hundreds of currencies in the world, about two-thirds of the massive $4 trillion foreign exchange trading volume is transacted in […]