Bank of Canada’s Overnight Rate Slashed 50 Basis Points to 3.75% October 23, 2024 The overnight interest rate, which had been held at a peak 5.0% from July 2023 until this past June, was cut today by the Bank of Canada’s Governing Council by 50 basis basis points. This doubled the ante of 25 basis…
Dollar Strengthens to Near 12-Week High October 23, 2024 The morning after the U.S. election is just two weeks away, and investors are betting that the winner of the presidential vote will not be apparent then or possibly for a week or more afterward. What financial markets are counting on is that the next FOMC…
The One Word That Makes Markets Move Part 2 I asked a question of our readers in Part 1 of The One Word That Makes Markets Move. The question was what word? The answer was “failure.” A higher low is formed by a failure to break the prior low. A lower high is formed…
Listen to the audio episode: Get The Complete Price Action Strategy Checklist! 25 Years of Floor Trading: His Secrets Exposed In episode 477 of the Desire To Trade Podcast, we will be listening to the recording of an interview with the legend, Steven Goldstein as he exposes his secrets from 25 years of floor trading….
Weekly FX Chart Outlook – October 21-25 Weekly FX Chart Analysis The upcoming week has a light economic calendar, especially from the US in a forex market that seems to need news to create volatility. Arguing for consolidation, at least to start the week, is a light economic calendar and that there are no…
Newsquawk.com Week Ahead: 21st-25th October Highlights include PBoC LPR, BoC, EZ & UK PMI MON: PBoC LPRTUE: NBH Announcement, IMF World Economic OutlookWED: BoC AnnouncementTHU: EZ/UK/US Flash PMIs (Oct)FRI: PBoC MLF (TBC), CBR Announcement, Japanese Tokyo CPI (Oct), German Ifo (Oct), US Durable Goods (Sep), US University of Michigan Final (Oct) Newsquawk…
What is spot gold? Online brokers have opened the market for gold traders, who have the ability to trade spot gold similar to the way forex is traded. This offers a way to speculate on the price of gold or for those involved with physical gold, a way to hedge their risk without…
Little Doubt that ECB Will Be Cutting its Interest Rate Today. Also Awaiting Turkish Central Bank Decision and Several U.S. Data Releases October 17, 2024 Consumer price inflation in the euro area last month was just revised downward by a tenth of a percentage point to a 41-month low of 1.7%. That’s below target and…
The US Dollar Index is a Joke I don’t know why it is called the USD index but the name is a joke. It is only composed of 6 currencies (see below) and the EUR makes up 57.6% If you add in the CHF, which generally moves in the same direction as the…
Thailand and the Philippines October 16, 2024 The Central Bank of the Philippines‘ key interest rate was lowered by 25 basis points today to 6.0% in a follow-up to an initial 25-bp cut in August. A peak of 6.5% had been reached in August 2023 after increases totaling 100 bps in 2023 and 350 bps…