The global foreign exchange (Forex) market constitutes a vast and intricate financial ecosystem in which currencies from across the globe are traded. This marketplace witnesses the exchange of trillions of dollars on a daily basis, rendering it among the most liquid and dynamic markets on earth. Amidst this bustling activity, central banks play a pivotal role,...
Yesterday, XNG/USD quotes dropped below the 2,900 level for the first time since mid-September. This was helped by the fact that the NatGasWeather weather forecasting model late last week showed a cooling trend in December in the US, but this was replaced by warming over the weekend.
According to analyst forecasts from Analysts Tudor, Pickering, Holt & Co.,...
Important events regarding AUD took place this morning:
→ the level of retail sales for the month in Australia unexpectedly fell: actual = -0.2%, expected = +0.1%, a month earlier = +0.9%.
→ a press conference was held by the head of the RBA, Michelle Bullock, according to whom inflation in Australia follows the path of overseas countries. That is, inflation is...
As CNN reports, Black Friday brought single-day sales records in the United States. According to Mastercard SpendingPulse, offline sales increased by 1%, and online sales by 8.5%. According to Sensormatic Solutions, store traffic increased by 4.6% year on year. Shopify reported record sales growth of 22% year over year to $4 billion worldwide.
The activity of...
EUR/GBP declined heavily below the 0.8720 and 0.8695 support levels.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is trading in a bearish zone below the 0.8720 pivot level.
· There is a major bearish trend line forming with resistance near 0.8695 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at...
GBP/USD is gaining pace above the 1.2575 resistance.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is attempting a fresh increase above 1.2600.
· There is a key bullish trend line forming with support near 1.2575 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair...
A financial crisis is a severe disruption in the financial markets and banking system of a country or even the entire world. It typically involves a sudden and widespread loss of confidence in the financial system, leading to a range of negative economic consequences.
In this article, we provide a comprehensive overview of how different asset classes tend to...
Yesterday, the values of the PMI index (it is characterized as a leading indicator of industrial production and services) for European countries were published:
→ in Germany: fact = 42.3; expected = 41.1; a month earlier = 40.7;
→ in France: fact = 42.6; expected = 43.2; a month earlier = 42.6;
Although the index values are below 50, indicating a contraction in...
Crude oil price is attempting a recovery wave above the $75.00 zone.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices started a decent recovery wave from the $73.80 support.
· There is a connecting bearish trend line forming with resistance near $77.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly...
Gold price surged toward the $2,000 zone before the bears appeared.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a steady increase from the $1,965 zone against the US Dollar.
· A key bearish trend line is forming with resistance at $1,995 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of...
News releases play a pivotal role in the forex landscape, often driving significant market volatility and offering both opportunities and risks for traders. This article delves into the intricacies of trading news in forex, from understanding the impact of different types of economic news to crafting effective strategies and the importance of execution and...
In our analysis of the price of WTI oil dated November 8, we wrote that the price could recover to the level of USD 80 per barrel.
After the price failed to reach the round level of USD 80 by only 36 cents (the median line of the descending channel prevented this from happening) on November 14, the bears again seized the initiative. The result of their pressure...
Bank of Canada Governor Tiff Macklem said yesterday that enough may have been done to curb inflation. As follows from his words, current policies can lead to inflation returning to the target of 2%.
The announcement fueled market and economist expectations that interest rates had peaked. It is acceptable to assume that the Bank of Canada instilled confidence in...
The previous historical record and maximum for 2023 (USD 502.66 per share) was set on August 24 against the backdrop of the publication of the 2nd quarter report.
This week, NVidia published its report for the Q3, and again the price set a record high, as the report turned out to be better than expected:
→ earnings per share: actual = USD 4.02, forecast = USD...
Yesterday's news from the FOMC is unlikely to have much impact on participants' views that the Fed's tightening cycle is over. According to published protocols:
→ The Fed will act cautiously;
→ all FOMC participants considered it appropriate to keep rates at current levels;
→ everyone also agreed that they would raise interest rates only if progress in...
USD/CHF declined and now struggling below the 0.8900 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF declined below the 0.9000 and 0.8900 support levels.
· There is a connecting bearish trend line forming with resistance near 0.8840 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the...
EUR/USD started a steady increase above the 1.0830 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro rallied after it broke the 1.0830 resistance against the US Dollar.
· There is a short-term bearish trend line forming with resistance near 1.0930 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart...
Mean reversion is an important concept in financial markets, offering traders the opportunity to capitalise on price fluctuations around a long-term average. This article unpacks mean reversion and explores three key trading strategies augmented by specific indicators to fine-tune entry and exit points.
Understanding Mean Reversion
Mean reversion is a theory...
