TALKING POINTS – YEN, US DOLLAR, AUSSIE DOLLAR, G20, DRAGHI, EURO Yen down, commodity currencies up on optimism before G20 summit US Dollar lower as risk appetite firms, follow-through may be lacking Euro might decline on dovish comments from ECB President Draghi A chipper mood on most Asia Pacific stock exchanges was on full display
CRUDE OIL & GOLD TALKING POINTS: Crude oil prices plunged Friday, with the WTI benchmark sinking to the lowest in 13 months. Oversupply fears appear to remain the source of selling pressure. The latest drop seems to have been triggered by comments from Saudi oil minister Khalid Al-Falih, who said output increased again this month.
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USD/JPY and yen crosses are a little higher during the Asian morning. Circa 113.10 from earlier lows just under 112.90 So, a small range. Apart from what has been posted (and that has plenty so far!) there is no new news. USD/CHF has edged a few tics higher also. ForexLive
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The 3 Candle Strategy is one of the most simple strategies that traders use. The main theme of this forex trading strategy is that if 3 candles form in the same direction, momentum is starting to swing accordingly. One of the most important things to keep in mind is that the higher the time-frame, the
USD/JPY was quiet in Asia due to Japan’s Labour Thanksgiving holiday on Friday. In the NY session, the pair rolled over on stocks in decline. USD/JPY is sitting around 50% of the recent Oct lows and Nov highs following a round-trip price performance in NY Friday, currently trading at 112.93, from a high of 112.98
Japan PMI Manufacturing Nikkei / Markit, the preliminary for november 51.8 from October’s 52.9 The November result is the lowest in two years (since November of 2016) IHS Markit comments: ”October’s six-month peak seems to have been just a transitory month-to-month rebound following September’s weather-hit dip. The November PMI dropped to a two-year low as
A sedate open for the week keeps the AUD/USD trapped near 0..7200. A lack of Aussie data leaves the major pair tied to broader market sentiment. The AUD/USD sees light trading volumes to walk through the door for the next trading week, sticking to levels near 0.7230. A dour market approach to market sentiment sees
EUR/USD under pressure in a risk-off environment while EZ & DE Nov PMIs see downside surprises, adding additional weight. EUR/USD hurt by falling DE yields while perception that the ECB might be more cautious in December grows. While now below the 50% fibo of the November highs and lows, besides a resurgence in the greenback,
Sky News reports on a statement from a Labour party spokesman for leader Jeremy Corbyn Corbyn “would relish a head-to-head debate with Theresa May about her botched Brexit deal” Earlier the UK’s Telegraph suggested PM May would challenge the opposition leader to a TV Brexit debate — TV debates are useful. At least for selling
According to reporting by Reuters, chances are beginning to run out for the US and China to start taking each other seriously and look for ways to avert a full-blown trade war. Key quotes With global growth increasingly suffering from frictions between the two biggest economies, tensions will come to a head when Donald Trump
As reported by Reuters, this weekend’s successful EU Brexit summit sees the next chapter begin: PM May’s toughest challenge yet in the Eurosceptics that heavily populate her own parliament at home. Key quotes Agreeing a Brexit deal with the European Union may have been the easy part for British Prime Minister Theresa May. Getting it
NZD/USD remains on the backfoot, opening the week below the pivot with eyes on the 21-D SMA. Global risk aversion is weighing on NZD/USD which is currently trading at 0.6767, trading between 0.6752 the opening low and 0.6770 the high. Price action in the bird is choppy as investors weigh up the various risks on
The week sees the GBP/USD opening relatively restrained, considering the EU’s successful weekend-Brexit summit. The Pound’s hope-fueled spike last week may have preemptively robbed the GBP/USD of bullish momentum. The GBP/USD, testing into 1.2830, kicks off another trading week relatively sedate considering the weekend’s Brexit summit conclusion, which sees the 27-member European Union unanimously agree to
EUR/GBP has started out the week just below the pivot at 0.8855 and ahead of the 61.8% in the 0.8830s, (55-D SMA and 200-D SMA converge in the same area). The Brexit deal was endorsed by EU leaders at the weekend summit with the focus now turning to whether the UK Parliament will approve it.
Bitcoin crushed again It’s times like this when the Bitcoin bulls wished the market closed on the weekend. The crypto market is rolling over as Bitcoin fell 10% and continued to fall today before bouncing back to unchanged at $3792. The low on the day was $3457, which is the worst level since September 2017.
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What is the Euro? The Euro (EUR) is the official currency of the Eurozone, a monetary union with 19 out of the 28 member states of the European Union (EU). It was established in 1999 with the intention of creating a single economic block that shared a common currency among all of its members. The
The European Council President Donald Tusk has recently announced, via Twitter, that the EU 27 has endorsed the Withdrawal Agreement. “EU27 has endorsed the Withdrawal Agreement and Political Declaration on the future EU-UK relations,” Tusk said. Below is the full text of the conclusions of the meeting of the EU27 leaders published by the European
Below is the full text of the conclusions of the meeting of the EU27 leaders published by the European Council. 1. The European council endorses the agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community. On this basis, the European
Ahead of her meeting with the leaders of the EU nations, British Prime Minister Theresa May has published a letter to the nation. Below are some key takeaways. Today, I am in Brussels with the firm intention of agreeing a Brexit deal with the leaders of the other 27 EU nations. We will take back
What is the NEW ZEALAND Dollar? The New Zealand Dollar (NZD) is the official currency of New Zealand and all of its territories. It is sometimes informally referred to as the “Kiwi”, a reference to an indigenous bird. It replaced the New Zealand Pound in 1967, and was pegged to the US Dollar that same
What is the Japanese Yen? The Yen (JPY), meaning “round object”, is the official currency of Japan. It was established by the Meji government in 1871 as part of the state’s modernization program. The idea was to shed Japan’s multi-currency regime that was maintained by feudal fiefs and instead mimic their European counterparts, implementing a
Beginner tips for forex stop loss strategy that you need to know before you start forex trading. Your stop loss placement has to depend on many factors. Stop loss for beginners is something that is not familiar because most traders just come focusing on the money without considering their forex stop loss. You need to
https://forum.moneymakingforextools.com/?forum=633493 Free Forex trading Course Download. Simple N Easy ways to find Turning Points in the Forex Market. What Moves the Market? Market movements are determined by the buy and sell order flow into the market – it is as simple as that. You, therefore, have to become an expert at understanding how the market
What is the US Dollar? The US Dollar (USD) is the official currency of the United States. It was established after Congress passed the Mint Act on April 2, 1792. During the Civil War, the government issued paper money in the form of “demand notes”, that later became known as “greenbacks” due to their color.