Forex

Overall, it’s reasonable to anticipate ongoing buying interest in Ethereum, with the $2,100 level serving as a substantial support zone. Ethereum displayed a modest rally during Thursday’s trading session, indicating a readiness to attract more buyers in the future. Ethereum has been facing some pressure due to the prevailing lower interest rates, a trend that

China’s Shanghai and Shenzhen equity markets ended a dismal year between 7% and 11% down on the year, drifting lower in the second half of the year as the property sector decline hit consumer sentiment and the wider economy. The offshore yuan fell 6% versus the dollar by mid-year, as traders looked for much need

This market has frequently demonstrated a negative correlation with traditional industries. Bitcoin exhibited a notable surge during Thursday’s trading session, signaling a potential breakout to higher levels. In the current landscape, it is imperative to closely monitor the $45,000 level, as it holds considerable significance. This level garners substantial interest due to its round and

Keep in mind that the next week will be rather thin when it comes to liquidity, and that of course has its own problem when it comes to what happens with the market.  The GBP/USD rallied a bit during the trading session on Thursday, as we continued to see downward pressure on the US dollar.

UK retail sales jump 1.3%, GDP contracts by 0.1% US to release PCE Price Index on Friday The British pound is drifting on Friday. In the European session, GBP/USD is trading at 1.2701, up 0.08%. UK retail sales rebound but GDP contracts UK retail sales jumped 1.3% in November m/m, bouncing back from 0% in

Friday’s economic releases: Canadian GDP US PCE Price Core Index The Canadian dollar is showing limited movement on Friday. In the European session, USD/CAD is trading at 1.3276, down 0.05%. We could see stronger movement in the North American session, with the release of Canada’s GDP and the US PCE Price Index. The US dollar

USDCHF tests July’s eight-year low Sellers might stay in power, but not for long Core PCE inflation due at 13:30 GMT It was another bearish week for USDCHF, with the price fully retracing its July-September upleg to reach July’s eight-year low of 0.8551. There is potential for an upside reversal around the 2023 floor of

Daily Pivots: (S1) 0.8536; (P) 0.8587; (R1) 0.8614; More…. USD/CHF’s decline continues today and falls through 0.8551 support without noticeable recovery. Longer term down trend is resuming. Intraday bias remains on the downside for 100% projection of 0.9111 to 0.8665 from 0.8819 at 0.8373 next. On the upside, above 0.8572 minor resistance will turn bias

Daily Pivots: (S1) 1.0960; (P) 1.0986; (R1) 1.1038; More… EUR/USD’s rally from 1.0447 resumed by breaking through 1.1016 resistance. Intraday bias is back on the upside. Further rally should be seen to retest 1.1274 high. Strong resistance should be seen from there to limit upside, at least on first attempt. On the downside, below 1.0929

GBPJPY moves without direction in the past two weeks The 50- and 200-day SMAs curb upside and downside, respectively RSI and MACD are deep in their negative zones GBPJPY had been in a prolonged uptrend since January, posting an eight-year high of 188.64 on November 24 before experiencing a pullback. In the short-term, the pair is undergoing a

In the end, while I maintain a positive outlook for gold in the long term, the holiday season may introduce periods of limited market activity.  The gold market exhibited a modest rally during Thursday’s trading session, maintaining its upward pressure. On the whole, I remain optimistic about the long-term prospects of gold. However, it is

In the short term, any setbacks in the market are likely to be met with buying interest, as numerous traders are looking to establish long positions in the Australian dollar. The AUD/USD showed significant strength in the recent trading session, indicating that it’s preparing for a substantial move in the market. While my target remains

Key Highlights USD/JPY failed to clear the 145.00 resistance zone and declined. A major bearish trend line is forming with resistance at 144.00 on the 4-hour chart. EUR/USD and GBP/USD remained in a positive zone and eye more gains. The US GDP grew 4.9% in Q3 2023, less than the market forecast of 5.2%. USD/JPY

Retail sales rose by 0.7% month-on-month (m/m) in October, coming in slightly lower than Statistics Canada’s advance estimate of the +0.8% m/m reading. September’s print was revised slightly lower to +0.6% m/m from +0.7% m/m, reported in the advance estimate. Adjusting for inflation, the volume of retail sales reported a solid gain of 1.4% in

This is a guest post by Rania Gule, Market Analyst at XS.com The GBP/USD pair dropped below the 1.2680 level, starting Thursday’s trading at 1.2634, following a lower-than-expected reading of the UK Consumer Price Index. This led to a decline in the British Pound against the US Dollar. Sterling had the weakest performance among major

The British pound is one of the most traded currencies in the foreign exchange market, which is, in turn, one of the most actively traded areas of the financial world in general. With over $6 trillion in daily trading volume, the forex market offers the highest degree of liquidity out of any market and can

This is a guest post by Samer Hasn, Market Analyst and part of the Research Team at XS.com After achieving some early gains this morning, the euro reflected its path and a decrease against the dollar (EUR/USD) by 0.16%. Euro declines today comes amid a mixture of data that indicated more disinflation in conjunction with

The USD started declining again earlier, but has stopped now while stock markets continue to trade sideways after yesterday’s crash in S&P500 Source link

The last revisions for the US Q3 GDP report was released a while ago and the US currency resumed the decline, with equities futures resuming the upside momentum. This price action seems a bit strange as the data wasn’t exactly dovish, but it seems like the market just wants to sell the USD right now.

Illustration: iStock Earlier this month, CME announced plans to launch CME FX Spot+, an all-to-all spot FX marketplace connecting cash market participants with the company’s FX futures liquidity. Paul Houston, CME Paul Houston, global head of FX products, says the new marketplace (to be made available for client testing during the second half of next