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Discussion in 'Brokerage firms & Trading Platforms' started by xtreamforex, Mar 13, 2019.

  1. xtreamforex Member

    EUR/USD is trading above 1.1550, extending the bounce from yearly lows of 1.1524

    Generally speaking, EUR/USD is moving downwards. The EUR/USD pair exchanges a small bunch of pips over the referenced 2021 low, down for a second successive day. Specialized readings in the day-by-day outline favor another leg lower as the pair grows well underneath immovably negative moving midpoints. Simultaneously, specialized pointers stay inside bad levels, with the RSI continuing its decay inside oversold readings. G20 gatherings will be held today. EUR/USD’s next support zone is at 1.15000 and the following resistance zone is at 1.16300. Search for transient selling chances of EUR/USD up until the arrival of the gathering minutes by the FOMC tomorrow at 0200 (GMT+8).

    GBP/USD faces strong resistance near 1.3650 inside the symmetrical triangle.

    GBP/USD is moving downwards. G20 gatherings will be held today. The close term specialized standpoint for GBP/USD appears to have turned negative with the pair breaking underneath the rising pattern line coming from late September. Also, GBP/USD is trading beneath the 50-time frame SMA on the four-hour chart and the Relative Strength Index (RSI) marker is pushing lower toward 40. Right now, GBP/USD is trying the resistance zone of 1.36000 and the following support zone is at 1.34000. On the off chance that GBP/USD rejects the resistance zone of 1.36000, search for transient selling openings up until the arrival of the gathering minutes by the FOMC tomorrow at 0200 (GMT+8).

    Read Full News : Daily & Weekly Analysis on XtreamForex
  2. xtreamforex Member

    Xtreamforex Asia session news wrap: Bank of Japan Governor Kuroda says (US) inflation is transitory

    USD/JPY rose from lows just shy of 113.25 to highs above 113.50 during the meeting here in Asia, Not a huge reach yet outstanding in the midst of the smaller ranges somewhere else in all cases.

    The News stream was light yet we had a lot of information stream, the majority of the attention on the Australian positions market report for September and Chinese CPI and PPI, likewise for September.

    The Australian work market report showed a bigger than anticipated number of employment misfortunes in the month and a higher joblessness rate. Interest fell forcefully. Hours worked rose. In short a mishmash yet dispassionately a more terrible instead of better report. It was to a great extent disregarded as a proceeding with the effect of lockdowns covering almost 50% of Australia’s populace. Further, both of the states affected are in transit towards resuming, NSW having started more rapidly than Victoria’s. In this way, assumptions are of a Q4 economic skip back and better information stream ahead. AUD/USD is down around 15 focuses from its pre-information meeting high. RBA Deputy Governor Debelle talked before in the meeting yet with very little effect (the perspectives on the RBA are notable at this point, tightening ahead however no rate rise conjecture until 2024).

    Read Full News : Daily & Weekly Analysis on XtreamForex
  3. xtreamforex Member


    EUR/USD remains pressured towards 1.1600 amid rising Treasury yields

    At the hour of the press, EUR/USD trades a generally close reach of around 1.1600. The 100-period SMA on the four-hour outline and the Fibonacci 23.6% retracement of the downtrend that began toward the beginning of September appears to have framed intense opposition in the 1.1615-20 region. If the pair transcends that level and starts utilizing it as help, 1.1670 (Fibonacci 38.2% retracement) could be viewed as the following objective in front of 1.1700/10 region (mental level, Fibonacci half retracement, 200-period SMA). On the drawback, 1.1570 (50-period SMA, 20-period SMA) could be viewed as the main help before 1.1525 (15-month low) and 1.1500 (mental level).

    GBP/USD contains above 1.3750 amid USD weakness

    GBP/USD shut the keep going candle on the four-hour outline over the 200-period SMA and is right now testing the upper line of the climbing relapse channel coming from late September at 1.3740. Albeit the close term, specialized viewpoint stays bullish, the Relative Strength Index (RSI) marker is, by and by, surrounding the overbought region. On Thursday, the pair organized a 60-pip amendment after the RSI contacted 70 and a comparative response could be anticipated. 1.3750 (September 23 high) adjusts as the following opposition before the pair could target 1.3800 (mental level).

    Read Full News : Daily & Weekly Analysis on XtreamForex
  4. xtreamforex Member

    Mexican Peso Improves as USD/MXN Degrades and EMFX Became Strong

    USD/MXN was high for the previous six months till it got near 20.90 last week. It was a major breakdown for the currency pair, as nobody expected it because of its amazing performance in the past. It was challenging because energy prices went down in the US but there is a significant help provided by the start of the quarterly earnings season as the corporate profits have helped the dollar to get strong easily.

    There is a solid bounce in the US equities along with the S & P 500 and Nasdaq 100 for nearly 6% and 7% from their monthly lows, even after the concerns about the fed policy normalization. EMFX works fine when things are going well on Wall Street and traders are also confident about doing risky trades that will give them the potential income they want. If the United States stocks perform well and the treasury curve becomes as per order, the Mexican peso will stand in a dominant position to fight against the US dollar.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  5. xtreamforex Member

    USD/TRY Increases When Turkish Central Bank Delivers an Unexpected Large Cut

    USD/TRY has increased when central banks have released a large cut. It’s seen that the Turkish central bank has cut down the rates that it uses to lend money to commercial banks in the event of a paucity of funds. They have cut it to 16% that including 200bps mark that is unexpected by the Turkish government officials. Its shocking news that comes straight from the market as they only used to cut it to 50-100bps in the past. Not to ignore that this cut has arrived in the middle of the atmosphere where there is inflation pressure rose on the Turkish government.

    Inflation has occurred as the currency of Turkey (USD/TRY) is not strong and the EM central banks have a tight policy regarding their rules. The present president of Turkey Mr. Recep Tayyip Erdogan has suggested the staff to lower the interest rates so the inflation rates are also get lowered automatically. However, this may not be the right step taken by the government in this situation no matter the Turkish central bank is finding it comfortable. Things should be changed soon to improve the Turkish lira.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  6. xtreamforex Member

    Canadian Dollar Dropped its Growth, Traders Waiting for Bank of Canada Statements
    Traders are waiting for the bank of canada’s statement over the CAD. The Canadian dollar that was moving with high strength has dropped its progress in the last week of October. But despite heavy a weak week, the currency has got dominance over the US dollar, British pound, Euro, and Japanese Yen since June. It’s a matter of great concern for traders that the cash will benefit from the downfall and it’s going to increase in November month.

    The currency of Canada offers the benefits from the global rising inflation situations as the prices of energy; commodities are rising and doing great. West taxes intermediate has leveled the position since 2014. The Canadian commodity can affect the local inflation and monetary policy too. There was a growth of 4.4% was seen in the last week’s CPI data as compared, which is also great news for the Canadian dollar. This has grown after a long time since the year 2003.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  7. xtreamforex Member

    US Dollar Gets strong as Corporate earnings grow in the market

    The corporate earnings of the US and China have made their currency strong. Traders were feeling high when they saw that the corporate earnings were running strong and the factors like US/China economic and trade situations were also going strong. All this news came as a boon for the traders as they know that US currency is going to increase along with China’s. Both the nation’s trade situation will get benefit from the rise of these nations’ currency prices. Apart from this, Iran and Europe are also discussing bringing back the nuclear deal that they had in the past. This means there is a hope that the Iran Rial and Europe’s Euro will get high too.

    As the central banks’ meeting is dominating the market for a week in the nations like Europe, Japan, and Canada, the flow of the money will rise for a long period. Also, with the S&P 500, it’s looking strong after the recent gathering of the banking officials. There was a bearish signal for the currency pair AUD/JPY that’s not great news for the traders.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  8. xtreamforex Member

    Brazil’s Central Bank Increases the Selic Rate by 1.5% that Affect USD and BRL

    Selic rate increased to 150 basis points on Wednesday, all thanks to the central bank of Brazil that has done this to set a benchmark . It’s the largest hike done by the bank in 20 years. The plans related to the additional financial spending have destroyed the hopes of the long-running inflation expectations but with the recent framework, risk will increase and it will unbalance things. The central bank of Brazil has also released a statement that determines that the market should also expect a rate hike similar to the past at the next policy meeting.

    Real, the currency of Brazil is under extreme pressure as of now because the government has declared that it intends to ignore spending terms and help the strugglers with the money. The extra funds may build pressure on the policymakers of the central bank as the policy will continue to tighten at a fast pace to fight inflation. The officials of the central bank announced that they aim to hike 100 basis points or bps at this month’s meeting. However, things have gone more aggressively as the financial viewpoint of the country is shifted.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  9. xtreamforex Member

    Australian Bond is on Destruction as GBP/JPY Gets a Boost at the End of this Month

    A boost was seen in the GBP/JPY yesterday. Traders were waiting for the Aussie bond market to rise when the RBA did not purchase the 2024 April yield target bond. The questions were asked whether the bank is giving the yield curve control or not. The three-year farming done during this time is giving fertility of 1.15% that rose from 0.3% at the start of the month. The bank target is to limit fertility at 0.1%. Certain thoughts will include keeping an eye on the April 2024 bonds that whether the bank will purchase them or not.

    F so far the Australian dollar impact has not been great but the market is expecting hawkish RBA where the money market is priced at 3-4 rates in a year. But as per the RBA’s current statement that it will not raise the dollar rates till 2024 has not encouraged the hopes of the hawkish RBA. The currency is struggling to make a foothold above 0.7500.

    F the S&P is expecting to close with over 5% of the gains in this month that will raise the potential for a month-end rebalancing that will raise the short-term fluctuations for forex. The S&P 500 has closed at 5% or more in the past where GBP/JPY had gained close to 0.6% on these occasions. GBP/JPY has however moved higher to 82% on the final trading day of the month.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  10. xtreamforex Member

    EUR/USD will Raise More After Traders Ignore Dovish Lagarde

    EUR/USD saw a long-time low phase that went on to rise on May 25 and stopped for 1.2266. This went on low to 1.1524 on October 12. This lowering of the currency pairs looks to be ending as the latest week’s price is indicating that the trend is going high and will continue to follow this trend. The European central bank decided not to change the monetary policy of governing council and the news was spread when President Christine Lagarde released this statement at the conference. She said that ECB will raise the Eurozone interest rates in 2022 because the inflation will fall off by then.

    Lagarde stated that it could increase a lot more in the future but as the years will pass on, the pressure of price rise will slow down because the high energy prices will be out of the equation. The market is moving fast in easier way as expected, this has been moved to price in a position earlier than expected. As a result of this, the EUR/USD got higher.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  11. xtreamforex Member

    How to Earn a Great Income Using the CFD Trading Platform?
    Income generation is necessary for human lives and everyone is looking for the methods that make them rich online. One of the most established methods to make money is using the CFD trading platform which is software that helps users trade on contract for differences. Gone are the days when you had to rely on the dealing desk trading only but now, you can trade having the online presence of it. Let’s know it further.
    What is CFD in a Trading Platform?
    CFD or contract for difference is the agreement done between the buyer and seller that the purchaser will pay the difference between the present value of the asset and its value at the contract time. CFD is one that serves you do the trading on it and support you make money. Thus, you can earn a profit from the price movement without having the actual asset with you.

    Understanding CFD with Example

    An example will get you a clear view of the Contract for different things. Let’s suppose you choose a stock that has an asking price of $25 and opens at a CFD having a value of 100 shares. If you buy the shares without using the CFDs, the cost you would pay will be $2500. It’s the total cost that is left behind after charging a commission or a trading cost.

    A CFD broker will require just 5% of the margin to get his work done. With this, you can enter the trade with $125. It’s a great place to trade for intraday traders. Here, the risk and reward ratio is raised that will make your short-term trade more practicable. When you do CFD, you experience that the position of the loss is correlated with the size of the spread. It’s because the spread from the broker is 5 cents. For having a break-even, you need at least 5% of the stocks here.

    For more information visit>>
    CFD Trading Platform
  12. xtreamforex Member

    EUR/USD to recover soon after a slow down

    The currency pair EUR/USD will be soon back on track and will challenge its top figures of 1.1616 that were once achieved. The exchange rate is also expected to improve as the European Central Banks are going to make changes in the interest rates of the nation to fight the inflation rates. European central bank executive board member Philip Lane recently gave reports that state “Euro is still weak and is facing the inflation issue”. The central bank is trying to build pressure on inflation through the monetary policy that will stabilize it to a percent or so.

    He again said that by tightening the monetary policy, we cannot lower the inflation rate but surely we can slow down the pace of the economy and reduce employment rates in the coming years. Thus, these steps will reduce the medium-term inflation pressure. It seems like the ECB will hold on to the ongoing speculations in the market rising regards to the interest rates. This will be a productive step for the nation. EUR/USD will see a large recovery through this in the coming days if the currencies are going to open at the right rate in November. In case there is a decline seen in the exchange rate, it will allow people to show their rush in the market just like what we saw at the beginning of this year.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  13. xtreamforex Member

    AUD/USD will Improve its Monthly Opening Range as Jobs in Australia Increases

    The currency pair of AUD/USD has downgraded as it failed to trade above 0.7548. The news coming from Australia may control the recent decline in the exchange rate as the job growth is expected to return in October month. AUD/USD currency pair is going down where the price was noted to 0.7192 in October, which is a little low than the previous time. It’s expected that the figures will improve in November month.

    As the Australian employment growth rate expanded in October month, a lot of jobs are expected to grow for the unemployed, ensuring them a bright future along with the economic improvement of the nation. This will boost the AUD/USD low rates. The positive development will push the reserve bank of Australia to take a step forward toward growth. This is because the central bank is removing its yield curve control program that was once operational. The central bank is expected to show great enthusiasm in increasing the higher interest rates. This will increase the economy and will hit inflation for the good.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  14. xtreamforex Member

    Rivian Gears up for Nasdaq Debut, Tesla Bounces Back

    The electric car manufacturer Rivian is all set to make its debut on the Nasdaq today with the highest IPO, and the timings could not be more perfect than this. A pledge of not using fossil fuel-based vehicles by 2040 was taken by the countries and the top companies to reduce the carbon emissions that are highly affecting the climate and causing global warming. They did a settlement to have a stronger environment.

    It’s a matter of concern that the key players of the automotive industry like Germany, China, and the USA were not present at the meeting. These brands make cars like Audi, Toyota, Volkswagen, Mercedes, and more. However, it seems like the brands will be present in the talk going to happen in the future because everyone is looking to have a better climate that is human friendly.

    Talking about the Rivian, it started in the year 2009 when it launched its first and fully electric R1T pickup truck in September. The brand has received 55,400 orders since then and it looks like the corporation is going to speed up its production because of high demand in the near future. From a report, it will take almost 60 years for the company to fulfill the present order they have with them.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  15. xtreamforex Member

    NZD/USD Weakens Even After Failing to Defend its November Opening Range

    NZD/USD is going weak despite its November opening range that was superb figures. The currency has broken down to defend the November opening range right now in the market. NZD/USD takes ahead the lower highs and lower lows early this week after getting the reaction that is large than expected in the US consumer price index. The inflation stickiness may raise the participation in the US dollar as it can put pressure on Federal Reserve to apply higher interest rates soon.

    It would not be a mature decision to change the aspects of the rising of rates, addressed by San Francisco President Mary Daly. Her comment suggests that FOMC will keep to its existing strategy as the pivotal banks will continue to showcase the temporary rise in inflation. However, the growth in the price may save USD ahead of the next FOMC interest rate decision on December 15, as the central bank has a hope of updating the summary of economic projections.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  16. xtreamforex Member

    China’s Retail Sales Growth Impact & Forecast

    The Chinese economy is going through a difficult time due to the spread of the novel coronavirus infection (COVID-19). Meanwhile, China faces serious challenges from soaring energy prices. Coal and natural gas prices have soared over the past few months. As a result, the government has demanded that the private sector be restricted from working during peak hours.

    However, according to data released by the National Bureau of Statistics, the country’s economy is in relatively good shape. Since October, retail sales in China have increased by 4.9%. This is higher than the average of 3.5%. It was also relatively worse than the previous 4.4%. Meanwhile, according to data, industrial production increased by 3.5% in October. This is better than the average of 3.0% and the previous 3.1%. Sentiment in the Chinese real estate market is being shaken by a deepening debt crisis as real estate giants China Evergrande and Kaisa Group face default. “We expect policymakers to take more easing measures to prevent growth from falling too much,” said Oxford’s Kuijs, adding that weaker demand is driving the broader industry slowdown rather than just supply constraints. Weakening demand is causing not only supply constraints, but also a broader industry slowdown, he added.

    Policy sources and analysts told Reuters that China’s central bank will be cautious about easing monetary policy to stimulate the economy as slowing economic growth and rising factory inflation fuel fears of stagflation. NBS spokeswoman Fu Linghui said at a briefing in Beijing on Monday that signs of stagflation are caused by short-term factors such as high global commodity prices. Capital investment continued to slow, according to 4,444 NBS data, up 6.1% in the first 10 months compared to the same period a year ago, up from a 6.2% increase in Reuters and a 7.3% increase in January-September.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  17. xtreamforex Member

    EUR/JPY broke its eighth straight day of decline and is hovering around the 130.00 level

    The pair has been under pressure from an upward US dollar backed by inflation data. In addition, the adjusted decline in US Treasury yields also contributed to the negative trend. The US dollar will strengthen on Tuesday as it continues to hold its 16-month high near 95.40. Meanwhile, US Treasury yields were moderated by mixed market sentiment ahead of the release of US retail sales data this afternoon.

    In addition to data on US retail sales, market sentiment will also be influenced by future data on the gross domestic product (GDP) in the euro area and a speech by European Central Bank (ECB) President Christine Lagarde. According to previous data, industrial production in the Euro zone fell 0.2% m/m in September and 5.2% in the last 12 months. Japan reported weak third-quarter GDP data and Bank of Japan (BOJ) Governor Kuroda hinted that the COVID-19 financing program could be phased out.

    Meanwhile, the dollar continued to strengthen. The reason could be a hint that the Fed will cut rates at the November 23rd FOMC meeting. This has weakened the yen’s attractiveness as a safe haven. The pair’s price movement could be a tailwind due to US President Joe Biden’s $1 trillion bipartisan infrastructure bill.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  18. xtreamforex Member

    RBNZ Survey – Inflation is expected to rise & to be around 3%

    Aggressive polls at the Reserve Bank showed a very sharp rise in expectations for future inflation. The results of the RBNZ’s latest quarterly forecast survey could fuel speculation that the RBNZ could raise its official cash rate by up to 50 basis points in a November 24 interest rate review. Click here for details of the survey results. The RBNZ has been tracking this survey very closely and in some cases was very strongly influenced by the results of interest rate decisions. At least for the latest results, next week’s OCR should increase by 25 basis points to 0.75%. Satish Ranchhod, a senior economist at Westpac, said the latest poll, along with other recent data, “shows increased inflationary pressures in the medium term.” Most notable in the survey is two-year inflation expectations.

    In general, these numbers do not fluctuate much between surveys. However, in the latest survey, inflation expectations rose from 2.27% three months ago to 2.96% in two years. This is a huge step according to the criteria of this study.

    The 2.96% value is the highest since the 3.00% value in the same survey in June 2011. Prior to June 2011, the same survey had to go back to the early 1990s to find higher numbers. Short-term inflation expectations for one year have risen from 3.02% three months ago to 3.7% in the latest survey.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  19. xtreamforex Member

    Spotlight on Retail Sales of Pound and Canadian Dollar

    GBP/CAD is still moving lower and is trading moderately near 1.6990 early on Friday. The cross hit a one-month high the day before retreating from the 50-day EMA. At the same time, a bearish top candle can be observed during the daily timeframe, indicating further weakness in the asking price.

    Key points:
    • GBP/CAD continues to retreat from the 50-day EMA to the previous resistance level. The bullish MACD signal is testing further bearishness, with the 200-day EMA and end-September levels challenging for buyers.
    • UK retail sales are likely to reverse the month-on-month decline, raising concerns for the Bank of England over rate hikes.

    Day Ahead

    EUR: There is a relatively calm day ahead in the economic calendar. The focus is data on wholesale inflation in Germany for October. A new surge will test transition theory while ECB Governor Lagarde seeks to bring the status quo to the market. On monetary policy, ECB President Lagarde will also speak later in the afternoon. As of this writing, the euro is up 0.01% to $1.1372.

    Pound: The economic calendar is having a busy day. This morning’s focus is the October retail sales of units. The pound is expected to have a strong impact following Wednesday’s inflation data. As of this writing, the pound is up 0.04% to reach $1.3499. The future of economic power is a quiet day. Economic data is limited to housing data and has little impact on the dollar. However, it is expected that the chatter of the FOMC members will also have an effect. FOMC members Waller and Clarida will perform today. The US Dollar Spot Index closed down 0.30% on Thursday at 95.544.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  20. xtreamforex Member

    Gold price outlook: XAU/USD Bulls bullish amid weak US dollar in Asia

    Asia’s gold is rallying as the US dollar offset some of its overnight gains as the US dollar breaks new cyclical highs following the re-election of Fed Chairman Jerome Powell. According to ANZ Bank analysts, the market immediately began pricing in relation to a gradual reduction in asset purchases and interest rate hikes through June. “This caused gold to plummet after 10-year Treasury yields raised more than 8 basis points.”

    Meanwhile, yellow metals were supported by rising idle winds. “This ultimately catalyzed the company to break out of a months-long decline from historical highs, driven by a significant wave of CTA short coverage and growing Chinese demand for gold, explained analysts at TD Securities. “But we do note that the battle between high inflation and market prices caused by central bank inflation is not over.”

    Going forward, the Fed minutes will be events for the dollar and yellow metal. Markets will be looking for new clues as to when to raise interest rates on how quickly the Fed can shrink. “The protocol will undoubtedly reflect a variety of risk perspectives, but most officials don’t think they will be in a hurry to raise rates given the massive net job loss and expected slowing inflation, said analysts at TD Securities.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  21. xtreamforex Member

    USD/JPY rise above 115.00 when bullish track hits 44-month high

    The USD/JPY bull is breathing around 115.10 after a spike that broke a multi-month high earlier on Wednesday. At the same time, the yen is struggling to extend its two-day rally amid falling US Treasury yields. The 10-year U.S. Treasury yield fell 0.8 basis points (bps) from its highest level since October 22, or about 1.65% at the latest, amid a lack of significant data/events. Yields jumped to a one-month high before mixed US data stopped bonds rising. Geopolitical concerns and recent COVID-19 concerns appear to be playing a challenging role for USD/JPY buyers in recent times.

    Japan’s geopolitical tensions with China are escalating over issues related to Vietnam. The defense ministers of Japan and Vietnam reached an agreement on the 10th that “they are opposed to secretly mentioning the sea in response to a unilateral attempt to change the status quo in the region said Kyodo News.” The Netherlands is experiencing a COVID-19 crisis and has recently announced regional closures, but the situation has not improved, driving demand for the Japanese yen, especially amid falling yields.

    “The Netherlands started transporting COVID-19 patients across the border to Germany on Tuesday to ease pressure on Dutch hospitals, which are scaling back regular care to deal with a surge in COVID-19 cases,” said Reuters. Also positive for the JPY could be the improvement in COVID-19 conditions at home and the government’s readiness to help the nation overcome the pandemic led economic hardships. Recently, Nikkei reported that Japan will allocate about 600 billion yen ($5.2 billion) from its fiscal 2021 supplementary budget to support advanced semiconductor manufacturers including the world’s No. 1 contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC), per Reuters. Against this backdrop, US equity futures are struggling to maintain their rebound from their two-week lows, while Asia Pacific stocks are trading alongside the Japanese Nikkei 225, down 0.80% at press time.

    USD/JPY could see further declines when considering the consolidation of returns along with a cautious outlook ahead of major US data/events.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  22. xtreamforex Member

    EUR/GBP hovers around 0.8400, ECB’s Lagarde and BOE’s Bailey keep an eye on

    EUR/GBP remained bearish in the early hours of Thursday morning in Europe. Cross-currency pairs are approaching their annual lows recorded on Monday as fears over coronavirus in the eurozone are resurfaced. Record high cases in Germany, followed by Austria and the Netherlands, have resulted in multiple warnings reminiscent of the blockade in the region. Coronavirus infections broke records in parts of Europe on Wednesday as Europe became the epicenter of the epidemic that caused new travel restrictions. It is worth noting that the resurgence of the virus eases pressure on the European Central Bank (ECB) to follow the Western banks and thus puts further downward pressure on EUR/GBP.

    In a recent commentary, Boštjan Vasle, a member of the Governors’ Council and Governor of the Central Bank of Slovenia, along with politicians Fabio Panetta and Robert Holzmann, ignored the rate hike negotiations. In contrast, European Central Bank governor and Bundesbank president Jens Weidmann said on Wednesday that inflation risks dominate in Germany and the rest of the eurozone. With block wrestling with covid, the UK is not far behind as daily infections exceed 43,000 and virus deaths drop to 149. However, Sky News cites UK health experts to point out the risk of a surge in COVID-19 cases in the new year.

    Coronavirus pessimism and consequently increased pressure on the European Central Bank (ECB) to expand monetary easing, and in contrast to optimistic UK fundamentals, recent headlines on Brexit suggest the resilience of the pound I support it. Downing Street spokesperson #10 said there were significant differences between the UK and EU views on Northern Ireland, but British Prime Minister Boris Johnson’s willingness to work hard to address the issue is encouraging in the market. . But British politicians also agreed with Irish Prime Minister Michael Martin that Article 16 would not come into force until negotiations broke down.

    Read Full News : Daily & Weekly Analysis on XtreamForex
  23. xtreamforex Member

    GBP/JPY: Brexit, full-fledged bear dominating below 153.00 on COVID-19 chatter

    GBP/JPY licks the cut at the 152.70 area after hitting a week-long high before hitting a two-week low of 152.47 ahead of the London opening on Friday. The Cross saw a double attack as it served food to bears amid fears of coronavirus and Brexit-related concerns. 4,444 French fishermen prepare to shut down Channel Tunnels and major ports on Friday to celebrate their disappointment over the UK’s fishing license regulations.

    The British government has already urged politicians not to use illegal means, but this is unlikely to stop France’s outrage.
    On the positive side, Maroš Šefchovic’s visit to London, an EU exit officer, is a British diplomat if both parties agree on a border protocol with Northern Ireland (NI), which has recently shown positive progress. It is worth noting that the previous day’s refusal of Bank of England (BOE) Governor Andrew Bailey’s inflation concerns reduces the likelihood of a rate hike and also affect GBP / JPY prices.
    Or, Japan’s recent announcement and Moody’s rating outlook are adding to more robust inflation data to further drive the yen’s appreciation.

    “If a new coronavirus variant is identified, we will revisit border control as needed,” said Hirokazu Matsuno, Chief Cabinet Secretary of Japan, according to Reuters. As for data, Japan’s consumer price index (CPI) rose from 0.1% year-on-year to 0.5% in November, and fresh food CPI fell from 0.4% in market forecasts to 0.3%. 0, 1% faster. In addition, CPI ex Food and Energy were 0.3% of expectations on an annual basis.

    Elsewhere, concerns about the Fed’s rate hikes at the wrong time are squeezing market sentiment and supporting the US dollar’s demand for safe haven. However, the Covid19 issue has spread outside Europe’s first horror zone due to concerns about a variant of the official name B.1.1.529, which is related to South Africa and is unaffected by the vaccine. For this reason, the World Health Organization (WHO) and UKHSA held a special session on Friday.

    Sentiment on 10-year Treasuries yields on US Treasuries fell 8 basis points (bps) to 1.565%, extending Wednesday’s recession from its monthly highs and S & P 500 futures falling 1.0% at the latest.

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  24. xtreamforex Member

    GBP/USD remains weak below 1.3350 amid omicron concerns and Brexit concerns

    GBP/USD is trading moderately below 1.3350, consolidating from its 11-month low of 1.3278, with risk sentiment improving slightly. Despite the risk reset, the risk remains downward biased against the majors as they continue to face the latest Omicron covid and ongoing Brexit issues.

    Risk sentiment took a hit in early Asia, and concerns over the latest covid variant shook the market, propelling the overall rebound of the US dollar. South Africa’s recent surge in COVID-19 cases, which appears to have been triggered by a new strain, is urging countries around the world to impose new restrictions. However, Dror Mezorah, head of the coronavirus department at Hadassah University Hospital in Ein Karem, said the clinical status of people infected with Omicron is encouraging.

    Despite risk recovery, sentiment around the pound can remain compromised by ongoing Brexit concerns. Vice-President of the European Commission, Margaritis Schinas, said Britain needed to resolve the post-Brexit immigration issue on Saturday.

    Meanwhile, French President Emmanuel Macron attacked British Prime Minister Boris Johnson in a letter tweeted Friday and accused him of being “not serious.” This is in light of the ongoing tensions surrounding the Franco-British fishery. We will continue to lead the update of Omicron Covid variants and their impact on risk sentiment on Monday’s UK and US economic calendars. Investors are trying to reassess the Bank of England’s (BOE) rate hike expectations in light of recent Covid claims. This could be a further downside to the UK currency.

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  25. xtreamforex Member

    Options market USD/CAD turns most bearish in last two weeks & expecting volatility in future

    WTI crude fell to $70.40 in an early two-day rally on Tuesday. While the 2-day symmetrical triangle limits Black Gold’s recent move, adding 50 HMA to the RSI’s decline and the upper barrier is encouraging for sellers. However, a clear downward break of the triangular support level near $69.20 at the time of issue was necessary for oil sellers to regain control.

    After that, a Friday low of $68.30 will attract the market’s attention before lowering the WTI bearish to a September low of around $67 and a July low of around $65. On the other hand, the rise in commodity prices will be a nutritious nut around $72.00 including the triangular resistance and 50 HMA. Even if the price crosses $72, Friday’s high of $74 could provide an additional filter before oil moves up to $77.60. This implies an upside on the 25th of November.
    The options market scenario supports USDCAD sellers ahead of today’s testimony of Canada’s GDP and Federal Reserve Chairman Jerome Powell.

    The reason for the bearish trend may be related to the cautious optimism of the market on Monday. However, recent doubts about the ability of the vaccine to tame a South African Covid variant known as Omicron support US $ / Canadian dollar buyers. With that in mind, the USD / CAD recorded a 0.30% daytime rise of about 1.2790 at the time of the press.

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  26. xtreamforex Member

    USD/JPY is recovering from a nearly two-month low and is climbing above the 113.00s mid-point

    USD/JPY maintained its footing in pre-European trading and last traded near its daily high at 113.60. After overnight volatile price movements, the USD/JPY pair gained some positive dynamics on Wednesday and found support from several factors. Global risk sentiment has stabilized slightly as investors decide to wait and see if the new strain of Omicron corona virus will ultimately hamper the economic recovery. This is evidenced by a good recovery in the stock market, which weakened the safe Japanese yen and acted as a headwind for major currencies.

    Key Notes:

    The combination of supporting factors continued to help USD/JPY recover from a two-month low.

    A modest recovery in risk sentiment eroded the safe yen and maintained the favor.

    The bulls also sensed a rise in US bond yields, but a devaluation of the US dollar could limit returns
    The Bulls also turned to a subsequent rebound in US Treasury yields, helped by restrictive comments from Federal Reserve Chairman Jerome Powell. When testifying in front of the Senate Banking Commission, Powell said it was time to get off the floor and it would be appropriate to consider ending the asset purchase expansion perhaps a few months earlier. He added that the risk of persistently high inflation is increasing and high inflation is expected by next year.

    In response to Chairman Powell’s remarks, short-term financial markets have begun evaluating the possibility of a rate hike of at least 50 basis points through the end of 2022. This, in turn, was seen as a key factor in continuing to support US bond yields. Despite interest rate hikes driven by more aggressive Fed tightening, the US dollar has so far struggled to entice meaningful purchases. This could deter traders from displaying aggressive bullishness and limit the continued recovery of the USD/JPY pair from its near two-month low. Market participants are now eagerly awaiting US economic reports including ADP report and ISM manufacturing PMI. A joint speech by FRS Chairman Jerome Powell and US Treasury Secretary Janet Yellen at the House Financial Services Committee is also expected to affect the strength of the dollar. Going forward, traders will consider developments surrounding the coronavirus saga and broader market risk sentiment to capitalize on some of the opportunities associated with the USD/JPY pair.

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  27. xtreamforex Member

    USD/JPY pair may return to 113.00 amid falling yields

    USD/JPY rebounded to 113.00 during its first open in Tokyo on Thursday, struggling to defend its first of a three-day advance. The yen appears to be receiving signals from the dollar’s rebound and a surge in global market volatility reflecting recent moves. But the Fed’s next move and eagerness to put safety at risk amid mixed fears of the Omicron crisis are keeping the Japanese currency at the top of the safe haven list and raising doubts among bull markets.

    USD/JPY hit an intraday high and fell near its two-month low, during the pre-NFP trade downturn, markets are sluggish and mixed signals from the Fed add to the hesitation.
    The US is considering extending the shelf life of masks after marking the first Omicron case. The OECD is downgrading its global growth projections, with Japan’s GDP expected to rise to 1.8% in 2021 from 2.5% in previous projections.

    While reiterating concerns about inflation, Fed Chairman Jerome Powell said he still believes inflation will “fall significantly” in the second half of 2022, while speaking out against a Senate committee. In contrast, New York Federal Reserve Governor John C. Williams said the New York Times said Omicron could extend the supply-demand mismatch, leaving some inflationary pressure.

    The 10-year Treasury yield is under pressure near its two-month low at around 1.42% at the time of release, while S&P 500 futures are trading up 0.30% since the Wall Street benchmarks released. But the promise of safety is supported by the latest news about corona virus options in South Africa. Following the first Oh Micron incident in the United States, the Joe Biden administration has put pressure on people to expand the rules for wearing masks on public transportation. “The administration of President Joe Biden will extend the requirement for travelers to wear masks on planes, trains, buses, and airports and train stations by mid-March to address the current risk of Omicron as reported by Reuter. Add to that risk shift and could be the latest economic forecast from the Organization for Economic Cooperation and Development (OECD), which suggests that global GDP will grow by 5.6% in 2021 (previously 5.7%) and 4.5% in 2022. According to Reuters, it is 3.2% in 2023.

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  28. xtreamforex Member

    NZD/USD stays directed towards 0.6710 supports after softer China data, US NFP eyed

    NZD/USD remained bearish near the intraday low of 0.6786 since the Chinese Caixin PMI released early on Friday. At the same time, the kiwi pair reflects disappointing market sentiment and also responds to soft data ahead of key data on US non-farm payroll (NFP). China Caixin Services PMI for November fell to 52.1 from below 53.8, and the composite PMI also fell to 51.2 from 51.5 in the same month. At the same time, indicators of private activity differ from the official values ​​published earlier this week.

    Much of the bearish sentiment is adding to the broader strength of the US dollar in hopes of a faster contraction in the Federal Reserve after politicians appeared hawkish in their final speech before the silence began this Saturday. Key proponents of easing faster paybacks, which also fuel fears of inflation, include San Francisco Federal Reserve Bank (FRS) Governors Mary Daley and Thomas Barkin Richmond.

    Fed’s hawkish outlook, as well as a weaker-than-expected result for the week’s early and ongoing US unemployment claims, a dismal job cut for November applicants, also reinforced hopes for a faster austerity policy and favorable returns from the Fed. The Wall Street indicator also posted a consolidated weekly loss the previous day, but it should be noted that S&P 500 futures and Asia Pacific stocks fell earlier on Friday.

    The reason may have to do with the hopes of US politicians to avoid a government shutdown on Saturday. Also positive for kiwi prices may be recent optimism about the search for a cure for a South African strain of coronavirus called Omicron. Meanwhile, Beijing’s remarks about the EUUS’s recent dislike of China and the first phase of trade negotiations and tariffs seem to challenge risk appetite. In a similar vein, caution has been created ahead of the US employment report.

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  29. xtreamforex Member

    AUD / USD defends 0.7000, prepares for RBA omissions, PBOC RRR falls in stronger yields

    The AUD / USD rose slightly to 0.701015 during the Asian session on Monday, licking the wounds after the sharp daily decline since early May. Optimistic views on the Australian economy, expectations for a rate cut by the People’s Bank of China (PBOC), and tomorrow’s Reserve Bank of Australia (RBA) as Fed linked chatter dragged the Australian pair to new lows in 2021. Preparations recently police officers. Careful optimism in the market can be on the same line. Prior to the RBA meeting, Bloomberg released a poll stating that “The Reserve Bank of Australia is likely to be the last meeting of the year.”

    On the other hand, ANZ said: “China’s Prime Minister Li Keqiang has promised the International Monetary Fund (IMF) to reduce the reserve requirement ratio (RRR) without specifying a date. Possible reconstruction by default.” In addition to RBA and PBOC chatter, optimistic printouts of second-tier data at home also supported the AUD / USD price. However, Australia’s TD stock inflation rate rose more than 0.2% to 0.3% in November, with ANZ job ads rising from 6.2% last month to 7.4%.

    In addition, the hope of finding a cure for a variant of South Africa’s Covid known as Omicron is less dangerous than initially feared, adding to rumors that it has fueled market sentiment and AUD / USD prices increase. After first hitting Europe and the United Kingdom, the virus strains are strengthening their grip to reach major world countries such as the United States and China. However, it should be noted that scientists around the world are optimistic about treatments. Recently, senior US doctor Anthony Fauci has confirmed that Pfizer’s drug against Omicron is effective. Meanwhile, the news that chewing gum can contain the spread of the virus and the UK’s treatment efforts are also hopeful for distributors.

    In addition, Australian Finance Minister Josh Frydenberg’s comment was positive for the AUD / USD rate. According to Reuters, policymakers may revise Australia’s 2022 GDP forecast during a mid-year budget update. It is noteworthy that prices fell sharply on Friday as the US dollar suffered a sudden drop in non-farm payroll (NFP) while trading the unemployment rate collapse. Expectations for the Federal Reserve’s rate hike were also raised by comments from President St. James Bullard. “We may consider raising interest rates before the cut is complete,” policymakers said. Wall Street’s benchmark closed negative, but Friday’s US Treasury 10-year yield fell about 10 basis points (bps) to 1.35%, the lowest level since late September. In the future, risk catalysts and pre-RBA sentiment could boost AUD / USD prices on a bright calendar.

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  30. xtreamforex Member

    How might Reserve Bank of Australia decision on Interest rates affect AUD/USD?

    As with the first Tuesday of every month, the Reserve Bank of Australia (RBA) is ready to announce its latest monetary policy meeting and interest rate decision around 03:30 GMT. The RBA is expected to keep its benchmark interest rate at 0.10% and unchanged its weekly $40 billion bond purchases. Weaker recent third-quarter inflation data from Australia and a stronger wage price index appear to help policymakers keep the status quo.

    However, due to concerns arising from the South African covid variant, AUD/USD traders should pay close attention to the RBA exchange rate table for clear guidance given the oversold trend of the Australian currency pair near its 2021 lows.

    Key notes:

    AUD/USD Price Analysis: Bulls hope to test the 0.71

    AUD/USD pattern. RBA Reserve Bank of Australia further declines, risk-free preview: market participants await more stringent hints
    AUD/USD reached an intraday high near 0.7055 ahead of a major RBA decision early on Tuesday. The Australian currency pair appears to be cautiously preparing for RBA commentary which may be depressing amid bullish markets. It should be noted, however, that Australian Health Minister Greg Hunt has recently welcomed the introduction of a coronavirus vaccine in Australia, thus implying a more robust RBA statement.

    However, AUD/USD traders will pay little attention to the RBA’s ruling unless the central bank cites significant catalysts or hints for a decline in bond buying in February. Still, optimism about the country’s vaccination program could help the couple maintain their recent gains after monetary policy decisions.

    Technically, AUD/USD is holding from the November 2020 bottom in RSI oversold conditions. However, the correction retreat remains within the 5-week trend downtrend channel. The August 2021 bottom near 0.7105 attracts short-term buyers ahead of the event, while the convergence of 10DMA and the upper line of the specific channel near 0.7125 are tough nuts for the bulls.

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  31. xtreamforex Member

    AUD/USD holds up to 0.7170 despite new sentiment challenge

    AUD/USD fell to 0.7120 after hitting a one-week high in Wednesday’s early Asian session. A new challenge to the pre-risk sentiment before is bullish, but the Australian technical breakout of a major hurdle gives buyers hope in a quiet session with no significant data/events.

    AUD/USD is rallying to its weekly high after two days of gains. Yields have fallen and US stock futures remain moderate amid mixed concerns. America, Russia and Sino-American Stories are battling a retreat from the horrors of Omicron.
    A bright calendar, market expectations for Friday’s US CPI, indicates risk factors for a new impulse.
    The US warns Russia of sanctions and aids Ukraine with military force if the Kremlin invades Kiev. A senior US State Department official said on Tuesday that the Biden administration was “focused on how to respond to the new German government if Russia invades Ukraine.” A US State Department official said on Tuesday. Reuters.

    The US boycott of the 2022 Beijing Olympics is a bad sign for China, as Dragon Nation warns Washington of the consequences. In addition, concerns about companies facing a real estate crisis in China, such as Evergrande and Kaisa, are waning market optimism. In contrast, easing concerns over the South African strain of coronavirus, dubbed Omicron, and hopes for further stimulus from China are encouraging AUD/USD buyers. Against this backdrop, the 10-year U.S. Treasury yield surged to 1.47%, down 2 basis points to 1.47% in two days, and S&P 500 futures struggling to keep up with the monthly benchmark. Continually, the lack of critical data/events keeps the risk catalyst in the driver’s seat. However, the latter risk factor could trigger the consolidation of AUD/USD gains due to the state of the risk indicator for that pair.

    AUD/USD broke through the major barriers north of around 0.7110, which consists of the 10DMA and the upper line of the 5-week-old downtrend channel. However, the MACD signal shows a bearish bias decline and the RSI is rebounding again from its oversold zone, and the pair’s recovery is breaking out of the horizontal zone, including around 0.6990 recorded in November 2020 and December 2021. Thus, AUD/USD bullish is set to wrestle with the 0.7170 resistance that spanned the September lows and last week’s highs.

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  32. xtreamforex Member

    EUR/USD is still at risk of Omicron Covid

    EUR/USD fell on prospects that the EU will become the epicenter of the new covid strain, Omicron. As of this writing, EUR/USD is trading from 1.1277 to the lows of 1.1273 and 1.1286, with little or no change throughout the day in the early-week range.

    According to the European Center for Disease Control and Prevention (ECDC), at least 6,430 cases of the strain have been confirmed in 70 countries since the discovery in late November. This option is said to be becoming dominant in Europe. Although European countries first reported cases of the disease, this strain has not yet been found across the continent.

    Meanwhile, concerns over new options boosted risk sentiment on Monday and the FTSE 100 closed 0.73% lower at 654. The S&P 500 closed 0.9% lower at 4,668.97 on similar margins. The Nasdaq Composite Index fell 1.4% to 15,413.28, and the Dow Jones Industrial Average fell 0.9% to 35,650.95. The yield on the 10-year U.S. Treasury fell 8 basis points to 1.41%, and the yield on the 2-year Treasury bond fell 3 basis points to 0.63%. EUR/USD reduced the loss to around 25 pips to 1.1290.

    This week the central bank will be in the spotlight. “Until now, the European Central Bank (ECB) considered inflation to be temporary, but it is becoming more and more elastic,” said ANZ Bank analyst. The analyst continued: “The US Federal Reserve has recently changed its mind on inflation and it is very likely that the ECB will change its stance at its meeting later this week. Inflation in the euro area is high, with consumer prices currently at a record 4.9%, well above the 2% target.” “Unlike the United States, the economic recovery in Europe is much more fragile and the region is currently experiencing a wave of omicron cases. At this stage, the ECB expects inflation to fall to 1.5% in 2023 and will soon release its inflation forecast for 2024, analysts explained.

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  33. xtreamforex Member

    XAU/USD bounces with USD 1,770 support and Fed is in focus

    Gold (XAU/USD) is stable at around $ 1,772 and cannot recover from four months of support at the beginning of Wednesday. The price of the gold bar has fallen over the past two days amid growing concerns about a South African Covid variant known as Omicron and the limited hope of the Federal Reserve Board (FRB). But while vaccine news has questioned the issue of the virus, the continued decline in US inflation expectations and the surge in coronavirus infections have led to the Fed’s hawks during today’s Federal Open Market Committee (FOMC). May stop. According to a model shared by ABC News, Australia’s most populous state of New South Wales produces 25,000 new Covid cases daily, while the UK has more hospitalizations for Omicron and a shortage of rapid test kits. There is a possibility. Elsewhere, China and Europe appear to be suffering from a variant of COVID 19, but Japan is about to be optimistic. In addition, Pfizer reports that the three shots of the vaccine are 70% more effective and 33% safer for infection than hospitalization at Omicron. The drug company also reported that the experimental COVID 19 pill, Paxlovid, is effective in tame all variants of Covid, including Omicron.

    Conversely, US Federal Reserve Bank of St. Louis (FRED) data show that US inflation expectations, measured at 10-year breakeven inflation, have fallen to 11-week lows, in contrast to record-high producers. is. November Price Index (PPI) for testing Federal Reserve Bank hawks. “We expect the monthly pace to double from $ 15 billion to $ 30 billion, which is in line with the end of quantitative easing in mid-March rather than mid-June. Authorities also said in a statement, economic forecasts. , May use a scatter chart change to convey a more aggressive tone. The median is expected to show a 50 basis point increase in fund interest rates in 2022, “TD Securities said.

    Elsewhere, geopolitical and trade tensions between the United States and China, and between the United States and Iran also emphasize market sentiment, but face a slight reaction from the Fed.

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  34. xtreamforex Member

    WTI integrated Fed and EIA stocked over US $ 71.00 recovery in mixed sentiment

    WTI flattened its biggest daily rise of the week at the beginning of Thursday, dropping 0.07% to $ 71.30 that day. The recent fall in black gold may be related to cautious market sentiment and various concerns prior to major central bank meetings and PMI announcements. However, the previous day’s rebound is related to the Energy Information Administration’s (EIA) limited weekly inventory data and the Federal Reserve’s (FRB) bullish reaction to faster throttles and higher dot plots. There is a possibility.

    The deteriorating viral condition in Europe and the United Kingdom has joined the extension of the US-China Cold War to squeeze recent oil prices. It is worth noting that US pressure on Uighurville and the rush to manage Beijing’s data companies are the latest catalysts for the US-China struggle.

    The cautious mood for the European Central Bank (ECB) and Bank of England (BOE) meetings and the provisional PMI in December also weigh heavily on oil prices.

    We are looking for a clear direction as US 10-year Treasury yields fluctuate after a two-day uptrend as US equity futures boom. On Wednesday,

    The results of weekly EIA crude oil inventory fluctuations fell from 20.82 million to 45.84 million, more than double the forecast for the reporting period to 10 December and the signs of a rate hike in 2022. A statement by federal chief Jerome Powell, such as “Omicron’s variant poses a risk to the outlook,” and a view to abandoning rate hikes until the taper ends. Looking to the future, WTI traders need to be aware of short-term directional risk catalysts.

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  35. xtreamforex Member

    USD/JPY holds near 113.60 on steady hand at BoJ

    USD/JPY remains on the defensive as the European session approaches and was last seen trading near three-day lows, around mid-113.00. After struggling to find bullish acceptance above the 114.00 mark, USD/JPY sold off on Thursday and reversed the previous day’s FOMC move to monthly highs. A softer risk tone has benefited the safe-haven Japanese yen and put some pressure on the pair for the second straight day on Friday. Investors remain concerned about the economic risks associated with the rapid spread of the Omicron coronavirus variant and the imposition of new restrictions in Europe and Asia. This is evident due to weaker trading sentiment in global equity markets, forcing investors to seek refuge in traditional safe-haven assets.

    The flight to safety was bolstered by further declines in US Treasury yields, which left the US dollar bulls on the defensive. This is seen as another factor behind the tone given around the USD/JPY pair. The intraday drop appeared unaffected by the announcement of the Bank of Japan (BoJ) policy decision.

    The BoJ left its monetary policy parameters unchanged at the end of the December meeting, but decided to reduce the stimulus package in the event of a pandemic by the end of March 2022 deadline. That said, the decision. Emergency pandemic funding cuts have entered the market and, as such, have failed to provide a significant boost to the USD/JPY pair. In a press conference after the meeting, BoJ Governor Haruhiko Kuroda reaffirmed that the central bank remains ready to ease monetary policy further without hesitation if necessary. Kuroda added that there is high uncertainty about the impact of the spread of the Omicron variant and there is a need to monitor the risks associated with congestion.

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  36. xtreamforex Member

    AUD/JPY remains important in 80.70S the risk-free market

    AUD/JPY drops at the start of the week as risk-on risks continue to reverberate following Friday’s sell-off on Wall Street. At the time of this writing, AUD/JPY is down around 0.3% and sits between 80.73 and 81.04. 4,444 US stocks fell on Friday following news of the latest spike in COVID19 cases affecting the economic outlook. The S&P 500 index fell 1% to 4,620.64, ending the session 1.9 percent lower on Friday, and futures fell similarly in Asia.

    Omicron variants are spreading “at lightning speed” in Europe, and medical professionals have warned of the “virus snowstorm” powered by Omicron, which is sweeping the United States. US President Joe Biden talked about “a winter of serious illness and death” among unvaccinated people. The Omicron variant of Covid19 has “extraordinary ability to spread,” said a major US infectious disease expert on Sunday, promising to bring a dark winter as it “dominates the world.” In New York State on Friday, new daily records were reported with just over 21,000 new COVID 19 cases. In addition, consumer reaction to the Omicron epidemic in the UK suggests that the US service sector will also have a bad time despite the holiday season.

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  37. xtreamforex Member

    The NZD / USD have struggled to benefit from a modest rebound from its year-to-date lows and is stable around 0.6725

    NZD/USD held around the 0.6725 region in the early European session, although it seems to be struggling to capitalize on the intraday bounce from the current year lows. The pair once again succeeded in attracting buying near the round-figure 0.6700 mark on Tuesday and so far appears to have broken two consecutive days of losses. The strong recovery in risk sentiment globally – as evidenced by the positive rally in equity markets – is seen as a key factor in favor of the higher risk-aware kiwi. Additionally, the US dollar’s moderate price action extended additional support for the NZD/USD pair.

    That said, the hawkish outlook from the Fed, coupled with a slight rise in US Treasury yields, acts as a headwind for the greenback. It should be remembered that the Fed announced last Wednesday that it will double the rate of taper to $30 billion per month. Additionally, so-called dot plots have indicated that officials expect to raise the federal funds rate at least three times over the next year. Additionally, COVID19 anxiety capped gains in the NZD/USD pair.

    Investors remain concerned about the possibility of a recession due to the rapid spread of the Omicron coronavirus variant. Alternatively, a fatal blow to US President Joe Biden’s massive $1.75 trillion in social spending and the climate bill could stave off any upside moves in the market. Conversely, this warrants some caution before confirming that the NZD/USD pair has bottomed in the near term and positioning for any further upside.

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  38. xtreamforex Member

    XAU/USD hangs at 100DMA ahead of US data

    Gold prices have remained steady so far in Asian trading on Wednesday, hovering around the daily moving average (DMA). The shiny metal lacks a clear direction, in the absence of a new catalyst, as attention now turns to US CB consumer confidence data for more impetus. Persistent concerns about the rise of Omicron covid variants in Europe, Australia and the UK continue to emerge amid a diminishing market situation over the holidays. Technically, gold prices remain confined between the major DMAs, with the 14-day Relative Strength Index (RSI) still hovering at 50.00, showing the acumen of gold traders.

    Gold (XAU/USD) remains slightly offered around $1,790, up for the second day in a row during Wednesday’s Asian session. Even so, the metal has not kept up with other risk barometers, such as Antipodeans and WTI, in depicting the mood at risk. The reason could be related to the cautious market sentiment ahead of the US data series as well as the bearish chart trend.

    The refusal by global policymakers of lockdown measures ahead of the Christmas holidays, despite the latest spread of the covid variant in South Africa, known as Omicron, seems to have boosted sentiment. . US President Joe Biden’s expectations for the completion of the “Build Back Better (BBB)” plan and vaccine/treatment optimism are also positive for gold.

    Although Texas reported its first Omicron-related death in the United States, President Joe Biden curtailed any nationwide embargo, as previously revealed, while promoting vaccination faster. Similarly, cautious optimism emanates from the Pacific countries and the United Kingdom. In addition, news that the US Food and Drug Administration (FDA) will allow a duo of drugs Pfizer and Merck to treat Covid19 earlier this week, according to Bloomberg sources, also added to the increase mood at risk.

    In addition, “President Biden said Tuesday that he believes there is still room to achieve his Better Build Back program, despite Senator Joe Manchin’s opposition to the spending bill social and climate goals,” said The Hill. In contrast, inflation expectations rose in the United States, as measured by the 10-year breakeven inflation point according to data from the Federal Reserve of St. Louis (FRED), ahead of key US data from this week challenges gold buyers. In addition, the struggles between China-US and the US-Russia add to the downward trend in gold prices.

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  39. xtreamforex Member

    XAU/USD hits $1,814 hurdle as Omicron weighs profits

    Gold (XAU/USD) shows slight gains around $1,810 on a dismal Monday morning. The yellow metal welcomed the weakening of the US dollar, as well as low Treasury yields to produce the latest gains around monthly highs, flashed on Dec. 17.

    That gives The US Dollar Index (DXY) fell 0.08% to 96.10 as 10-year US Treasury yields fell 1.1 basis points (bps) to 1.482%, falling back to highs the most in two weeks reached a day before. In contrast, S&P 500 Futures are up 0.11% on the day to around 4,720 by press time. Mixed concerns about the COVID19 variant in South Africa, specifically Omicron, join with cautious optimism surrounding US President Joe Biden’s Build Back to Better (BBB) ​​plan, which promotes boost the recent risk-on mood. According to a Mastercard report, China’s industrial profits and an update from the US show an uptick in US retail sales data. However, the lack of key data/events joining the holiday mood in New Zealand, Australia, Canada and the UK seems to be holding back market movements. It should be noted that the Dallas Fed manufacturing index for December, expected at 13.2 versus 11.8 previously, could offer intermediate moves in a sluggish session expected.

    A sharp rise beyond the 200DMA gives gold buyers hope of overcoming the two-month horizontal barrier around $181,416 despite the holiday mood. After that, the double tops marked in July and September around $1,834 will return to the chart before $1,850 can challenge the bulls planning a break above the November highs. is $1,877. Meanwhile, the ascending support line from August around $1,778 is added to bearish filters below the 200DMA level of $1,797.

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  40. xtreamforex Member

    USD/CAD consolidates losses around weekly lows below 1.2800 as oil eases from monthly high

    USD/CAD is struggling to regain the 1.2800 level while healing yesterday during Tuesday’s Asian session. The loonies seem to be watching the end of the risk-on mood as well as the decline in the price of Canada’s main export, WTI crude, to challenge the one-week drop from yearly highs.

    A question of previous optimism regarding the South African variant of covid, namely Omicron, as well as the lack of major updates, could be responsible for the recent disruption due to the weakening of the US dollar. Even so, the market holiday vibe joins the light news feed to challenge the pair’s momentum.

    USD/CAD is struggling to regain the 1.2800 level while healing yesterday during Tuesday’s Asian session. The loonies seem to be watching the end of the risk-on mood as well as the decline in the price of Canada’s main export, WTI crude, to challenge the one-week drop from yearly highs. A question of previous optimism regarding the South African variant of covid, namely Omicron, as well as the lack of major updates, could be responsible for the recent disruption due to the weakening of the US dollar. Even so, the market holiday vibe joins the light news feed to challenge the pair’s momentum.

    It should be noted that an increase in virus cases and fears of falling oil prices could challenge USD/CAD sellers in the absence of a major catalyst. Even so, data from US housing and Richmond Fed Manufacturing will come ahead of the American Petroleum Institute’s weekly prints of industry inventories to guide USD/CAD volatility in the short term.

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