– According to Bloomberg, the correlation between the cryptocurrency market and the US stock market has reached near-record levels. This occurred following the Federal Reserve’s decision to lower the key interest rate at its meeting on 17-18 September. The 40-day correlation coefficient between the 100 largest cryptocurrencies and the S&P 500 index stands at approximately…
GBP/USD remains near 1.3350, close to its 31-month highs GBP/USD extends its winning streak for the fifth consecutive session, trading around 1.3350 during the Asian hours on Tuesday. The pair maintains its position near its 31-month high level of 1.3359, recorded on Monday. The US Dollar (USD) may depreciate due to increasing expectations for further…
The US dollar maintains a bearish outlook, which continues to create a tailwind in the GBPUSD market. Currently, the market is trading above a previous resistance level of 1.3262. Additionally, it appears that price activity may gain more upward momentum on the fundamental front. Key Price Levels:Resistance Levels: 1.3400, 1.3450, 1.3500Support Levels: 1.3200, 1.3150, 1.3100…
Weekly FX Chart Outlook:- Sept 23-27 New week, new ball game! Similar to last week, how the coming week ends will be more significant than how it starts out. In this regard, the dollar is ending on its back foot (except vs JPY) although only the GBP and AUD broke fresh ground to the…
EUR/USD: Rate Drops, Dollar Falls ● The United States Federal Reserve System (Fed) announced its decision on the benchmark interest rate following the two-day meeting held on September 17-18. The intrigue lay in the rate cut step—whether it would be the standard 25 basis points (bps) or twice as much. On the eve of…
Newsquawk Week Ahead – 23rd-27th September – Forex Forum September 20, 2024 /Posted byGVI Forex / 36 / Source link
The Pound Sterling outperforms its major peers as UK Retail Sales grew at a faster-than-expected pace in August Fears of UK inflation remaining persistent have deepened after an acceleration in price pressures coming from the services sector. The Fed is expected to continue an aggressive policy-easing cycle. The Pound Sterling (GBP) performs strongly against its major…
The Bomb Bank Signal is a powerful indicator for MetaTrader 4, designed to identify the most relevant trends in the financial market. If you are looking for a tool that accurately anticipates movements, Bomb Bank is the ally you need. How it Works: This indicator combines three distinct methods – volume analysis, candle closes and…
Pound Sterling surges to 1.3300 as BoE keeps interest rates steady at 5% The Pound Sterling (GBP) strengthens against its major peers on Thursday after the Bank of England‘s (BoE) monetary policy announcement. The BoE left interest rates unchanged at 5%, as expected, as the United Kingdom (UK) core Consumer Price Index (CPI) data for August came in higher than…
Forex Trading Glossary – T Tasuki Gap – Upside and Downside(Candlestick Continuation Pattern) In a bearish Tasuki Gap the market develops in a downtrend in which two long black days develop in succession. The second long black day gaps below the first on the open. These are then followed by a white day…