S&P 500 Rises Following Inflation Data Release
Historically, September has been the worst month for the S&P 500 (US SPX 500 mini on FXOpen), and the start of the month reflected this trend, with the index dropping around 4.5% from 1 to 6 September, indicating bearish sentiment.
However, yesterday's event — the release of the Consumer Price Index (CPI) — may...
Exploring PAMM Accounts
Navigating the complex world of trading becomes easier with the right tools and options. PAMM accounts offer a unique opportunity for investors to leverage the skills of experienced traders. This article delves into the essentials of these accounts, discussing their mechanics, how to choose a PAMM manager, and what you need to know to get...
USD/JPY Analysis: Rate Drops to New Yearly Low
The USD/JPY chart shows the rate has fallen below its 5 August low.
This decline was influenced by comments from Bank of Japan representative Junko Nakagawa, who stated that the bank would continue raising interest rates if inflation keeps decreasing.
“Given that real interest rates are currently very low, we will...
Market Analysis: NZD/USD Trim Gains, Are Bears Back?
NZD/USD is also moving lower and might struggle to recover above 0.6200.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD declined steadily from the 0.6255 resistance zone.
- There is a key bearish trend line forming with resistance at 0.6155 on the hourly chart of NZD/USD at FXOpen.
NZD/USD...
Market Analysis: AUD/USD Trim Gains, Are Bears Back?
AUD/USD declined below the 0.6720 and 0.6700 support levels.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar started a fresh decline from well above the 0.6700 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance at 0.6660 on the hourly chart of...
Oracle Shares (ORCL) Surge Over 11% to Record High
As the chart shows, Oracle Corp. (ORCL) closed yesterday’s trading session above $155, and during the session, the stock even climbed above $160, marking an all-time high.
The bullish sentiment is driven by a strong quarterly earnings report:
→ Earnings per share were $1.39, surpassing the $1.33 expected by...
What Are Asset Classes? Definition and Meaning
In the realm of finance and investing, you may have come across the term "asset class". This article is designed to help you understand its definition, its meaning, and its significance in your investment journey.
Asset Class Definition
In a nutshell, an asset class refers to a grouping of investments that...
Analysis of GBP/USD Today: Bulls Face Challenges
UK labour market data was released today.
According to Dow Jones Newswires:
→ Employment growth exceeded expectations, and unemployment benefit claims came in lower than forecast. ING analysts believe this supports the view that the Bank of England will cut interest rates more cautiously compared to the Federal...
Alphabet Inc. (GOOGL) Shares Drop to Almost Six-Month Low
Alphabet Inc. (GOOGL) shares closed below $150 yesterday, a level last seen in late March this year.
According to Barron’s, the stock is under pressure due to ongoing litigation with the US Department of Justice (DOJ), which:
→ claims Google holds a monopoly over software used for buying and selling...
Simple Portfolio Management Strategies
In financial market systems, where complexity often obscures the path to effective trading and investing, there can still be clarity and certainty based on the use of simple portfolio management strategies. In this FXOpen article, you will learn about portfolio meaning in investment and how to manage it.
Investment...
Occidental Petroleum (OXY) Shares Drop to 2.5-Year Low
Shares of Occidental Petroleum Corporation (OXY), the sixth-largest holding in Warren Buffett’s portfolio, have fallen to their lowest level since April 2022. According to Yahoo Finance, Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum to nearly 30% this summer.
But could Buffett be...
EUR/USD Falls After US Labour Market Data
On Friday, key employment data from the US was released, which proved somewhat mixed.
On the one hand, the increase in jobs fell short of expectations. According to ForexFactory, the Non-Farm Employment Change figures were:
→ actual = 142K;
→ expected = 164K;
→ previous month = 89K.
On the other hand, the unemployment...
Understanding Economic Indicators
Economic indicators help us understand the state and direction of the economy, providing valuable information across the various sectors. Indicators of economic growth are widely used by businesses, investors, traders, policymakers, and individuals who care about their financial future. In this FXOpen article, we will provide...
NIO Stock Price Surges by 14%
On 23 August, while analysing the chart of Chinese automaker NIO, we noted that:
→ For months, the price has been forming a downward channel (shown in red), driven by the company’s inability to turn a profit, with the $4.25 level acting as resistance.
→ Investors may hold out for positive shifts in the fundamentals, as for the...
Analysis of XAU/USD: Gold Price Holds Near Key Resistance
As shown on the XAU/USD chart today, the price of gold is:
→ above the psychological level of $2,500 per ounce;
→ near a key resistance marked by a red line labelled Support 2. This line has been preventing further price growth several times since 20 August, when the all-time high was reached.
If the...
Market Analysis: EUR/GBP Eyes Gains
EUR/GBP is gaining pace and might extend its upward move above the 0.8440 zone.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP started a fresh increase above the 0.8420 resistance zone.
- There is a major rising channel forming with support near 0.8425 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis...
Market Analysis: GBP/USD Recovers
GBP/USD is attempting a fresh increase from the 1.3090 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is attempting a recovery above the 1.3130 zone against the US Dollar.
- There was a break above a key bearish trend line with resistance at 1.3120 on the hourly chart of GBP/USD at FXOpen.
...
Analysis of USD/CAD: Bank of Canada Cuts Interest Rate
Yesterday, the Bank of Canada reduced its key interest rate by 25 basis points to 4.25%. Its governor, Tiff Macklem, cited weak economic growth and suggested that a more substantial rate cut could be considered in the future.
While the rate cut was widely expected, the currency market reacted with a surge...
