Category: Markets
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Chart Art: AUD/CHF’s Long-term Trend Support Levels
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AUD/CHF is having difficulty choosing a direction after taking a break from its uptrend. Is it because AUD/CHF traders are ready for a bearish reversal? Or can the Australian dollar bulls and franc bears extend the long-term trend? This is the pattern I’m looking at on the daily time frame:…
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Euro fallout remains a focus point before the weekend
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The dollar showed great resilience in trading yesterday, despite setbacks caused by a weak Producer Price Index report and weekly jobless claims data. The strong showing at the 30-year Treasury auction may have highlighted some of the larger flows in the markets, with traders shifting their allocations from Europe to…
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Musk’s small-investor army cheers approval of $56 billion Tesla pay package By Reuters
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Written by Abhiroop Roy SAN FRANCISCO (Reuters) – Elon Musk’s army of small investor allies scored a victory on Thursday as the Tesla (NASDAQ:) CEO won a crucial shareholder vote on his $56 billion pay package despite opposition from major institutions. Wealthy investors, who own an unusually high stake in…
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Become a Speaker at FMPS this August!
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The Finance Magnates Pacific Summit (FMPS) will be held August 27-29! This flagship event will be held in Sydney, Australia, and will be one of the largest this year in the Asia Pacific region, showcasing the biggest speakers from across the financial services industry. Will you or your brand be…
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Dollar falls after CPI, Fed meeting; PPI release due By Investing.com
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Investing.com – The US dollar fell on Thursday, as traders weighed the competing factors of benign US inflation and a more hawkish Federal Reserve. At 04:25 ET (08:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down 0.3% at 104.340, after trading…
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Visa, Mastercard $30 billion fee settlement in peril By Reuters
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Written by Jonathan Stemple NEW YORK (Reuters) – Visa (NYSE:) and MasterCard (NYSE:)’s proposed $30 billion antitrust settlement to limit credit and debit card fees for merchants is in jeopardy, after a New York judge signaled she was preparing to reject the agreement. U.S. District Judge Margo Brody in Brooklyn…
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FCA Flags Clone Firm Impersonating Admiral Markets UK
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The UK financial regulator has flagged an unscrupulous company impersonating the licensed Admiral Markets UK Ltd. According to the Financial Conduct Authority (FCA), the cloned entity is using Admiral Markets UK Ltd details in a fraudulent company under the name admrlmrkts.co. Cloning company details According to a statement from the…
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Rouble swings to opaque trading territory after new US sanctions By Reuters
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MOSCOW (Reuters) – New U.S. sanctions that forced Russia’s leading exchange to halt trading in dollars and euros led to a range of mixed prices and spreads as trading moved over-the-counter on Thursday, hindering access to reliable prices for the Russian euro. currency. The Russian Central Bank set the official…
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Fed Held Rates As Expected, Trimmed Potential Cuts from Three Down to One this Year
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The Federal Open Market Committee (FOMC) maintained the target range for the federal funds rate at 5.25-5.50% as expected in its last announcement. Their official statement acknowledged this “There has been modest additional progress towards the committee’s 2% inflation target.” In recent months, which has been more optimistic compared to…
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The Bank of Canada is behind the curve and the loonie will suffer
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In the coming weeks, we will see a picture of deteriorating data and it will be clear that the Bank of Canada is falling behind the curve. The overnight interest rate of 4.75% is still very restrictive in an over-leveraged economy. It’s clear from Bank of Canada Governor Tiff Macklem’s…
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Trump, Biden aide woo corporate America executives By Reuters
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Written by David Shepardson, Joey Rowlett and Gram Slattery WASHINGTON (Reuters) – Republican presidential candidate Donald Trump and Jeff Zients, White House chief of staff under US President Joe Biden, met on Thursday with top US business leaders in Washington as they seek to win the support of US companies…
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TradingView and Spanish EUDE Business School Partner to Advance Financial Education
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TradingView has partnered with EUDE Business School, one of the best postgraduate institutions in Madrid, to promote financial literacy among learners. This collaboration aims to integrate advanced market analysis tools into EUDE curricula, enriching the educational experience of students around the world. Promoting financial education According to the press release,…
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Dollar gains on hawkish Fed, even as inflation cools By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday despite the US producer price inflation report for May, after the Federal Reserve adopted a hawkish tone at the end of its meeting on Wednesday. Data on Thursday showed that US producer prices fell unexpectedly in May,…
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The Most Dangerous Emotion for Forex Traders
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“A greedy person and a poor person are actually the same thing.” The Swiss proverb above couldn’t be truer for us traders. As you know, many Forex traders (and their accounts) have suffered because of greed. In fact, this is the case with the proverb “Bulls and bears make money.…
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S&P index moves into negative territory
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The S&P has now moved into negative territory and is down -8.28 points or -0.15% at 5413. The low has reached 5412.02 so far. The Nasdaq is holding on to a gain of 24 points, or 0.14%, at 17,632. The Dow Jones Industrial Average is down -265 points, or -0.69%,…
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US stocks mixed; S&P 500, Nasdaq gain after soft PPI release By Investing.com
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Investing.com — U.S. stock trading was largely higher, as further signs of slowing inflation raised expectations for a rate cut from the Federal Reserve. At 06:20 EST (10:20 GMT), it was down 150 points or 0.4%, while trading 10 points or 0.2% higher and up 100 points or 0.6%. Benign…
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Meet Finance Magnates’ Team at iFX EXPO International 2024 Next Week!
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Sterling set for fifth weekly gain against euro after shock French election call By Reuters
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LONDON (Reuters) – The pound is headed for its fifth weekly gain against the euro on Thursday, after hitting its highest levels in almost two years against the single European currency, which was rocked by political uncertainty in France. The euro fell to its lowest level against the pound since…
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Chart Art: How Low Can NZD/USD Go Before Extending Its Uptrend?
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NZD/USD has been rejected from the previous resistance area and looks set to test lower inflection points! How far can the NZD/USD pair go before it continues its weeks-long upward trend? Let’s check the 4-hour time frame: NZD/USD Forex 4 Hours Chart by TradingView The NZD/USD pair made its highest…
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AUDUSD Technical Analysis – The soft US CPI weighs on the USD
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Basic overview The US dollar was sold off across the board yesterday after the weak US CPI report. This data has prompted the market to re-price the discounts twice this year. Later in the day, we got a tougher than expected decision from the FOMC as the chart showed that…