USD/JPY rallies over 1% after US Nonfarm Payrolls added 254K jobs, lifting US Treasury yields. Bulls target a decisive break above 149.39 and 150.00, with next resistance at the 200-DMA of 151.06. Support lies at 148.00, followed by the Senkou Span B at 147.78 and the bottom of the Ichimoku Cloud at 146.90-147.00. The USD/JPY…
Next Week’s Menu: October 5, 2024 October 4, 2024 Central Banks: While the coming week has a limited number of central banks reviewing their policy stances including those in Peru, India, South Korea and New Zealand, a slew of central bankers have speaking engagements. This includes Kugler, Barkin, Goolsbee, Williams, Logan, Jefferson, Bowman, Bostic, Musalem,…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not…
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By Karen Brettell NEW YORK (Reuters) -The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut bets that the Federal Reserve will make further 50-basis-point rate cuts. The greenback was also set…
Gold drops after robust US jobs report lowers pressure on the Fed. US 10-year T-note yield climbs to 3.971%, while the US Dollar Index hits mid-August highs at 102.58, capping Gold’s rise. Geopolitical risks involving Israel and Iran to support Gold, which could hit $2,700. Gold price retraces after a stronger-than-expected US jobs report hinted…
Pound Sterling slides below 1.3100 after strong US job data The Pound Sterling (GBP) slides below the round-level support of 1.3100 against the US Dollar (USD) in Friday’s New York session. The GBP/USD pair extends its losing spree for the fourth trading session as market expectations for the Federal Reserve (Fed) to reduce interest rates…
MARKET REPORT(Unburdened by what has been)1873 Scandinavian Monetary Union Fixed exchange rate system based on the gold standard between Sweden and Denmark, and later Norway in 1875. The Union ensured exchange rate stability. Member countries still had their own currencies. This Monetary Union, which lasted until 1914, is one of the results of the Scandinavist…
MILAN (Reuters) – Cost cuts at Commerzbank (ETR:) if UniCredit were to buy its German rival would mostly affect its head office not its branch network, UniCredit CEO Andrea Orcel was quoted as saying on Friday. UniCredit has built a near 21% stake in Commerzbank, subject to supervisory approval, and said it sees a merger…
The Forex market is the largest and most liquid financial market in the world. It offers traders opportunities to buy, sell, and exchange currencies around the clock. Understanding the intricacies of the Forex market is essential for anyone looking to engage in currency trading. This article aims to provide valuable insights into the Forex market,…