By Harry Robertson LONDON -Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK’s frenzied… By Darya Korsunskaya MOSCOW – Russia estimates the new cut-off price for its budget rule that diverts excess oil revenues into its wealth fund at $62-$63 per barrel and… By Sinéad Carew and Alun John Forex news NEW YORK/LONDON – After tumbling earlier, sterling rallied against the dollar on Wednesday following the Bank of England’s purchase… KUALA LUMPUR – The weakening Malaysian ringgit, which is at its lowest since 1998, was not a reflection of the state of the nation’s economy, its central bank governor… Recession fears are causing both GBP/USD and EUR/USD to move lower.
- At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss consumer price data for September.
- Choose from standard, commissions, or DMA to get the right pricing model to fit your trading style and strategy.
- A depressed economic outlook is likely to weigh on prices even on a protracted US Dollar pullback.
- In this week’s edition, we discuss the pound’s extreme volatility amid the BoE’s intervention and government’s questionable policy response to soaring cost of living crisis in the UK.
After the BOJ and the BOE intervened in the markets, traders are asking “Who’s next? Markets will be waiting on pin and needles this week to see which central bank may be the next to intervene. The antipodean central banks will kick off the new month with their policy decisions, but the latest jobs report out of the US could steal the limelight amid the never-ending anticipation of when the Fed will reach peak hawkishness. Bitcoin DotBig company price seems to be consolidating and forecasts a tiny rally as it approaches the lower limit of the ongoing range tightening. This development could see altcoins, including Ethereum and Ripple, trigger a quick run-up as well. Forex today was a better place for the commodity complex following a risk on session in Asia where Shanghai shares were up 2.7 pct making for the biggest gain since May 2016 and the CSI300 gained 2.92 pct, .
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Forex.Academy is a free news and research website, offering educational information to those who are interested in Forex trading. Forex Academy is among the trading communities’ largest online sources for news, reviews, and analysis on currencies, cryptocurrencies, commodities, metals, and indices. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. The Australian dollar firmed against its most major counterparts in the Asian session on Monday, as oil prices rose and investors awaited the Reserve Bank of Australia’s monetary policy decision to be released on Tuesday. Asian stocks retreated on Monday as inflation and interest-rate worries lingered, and oil prices spiked on speculation over OPEC+ cutting production substantially this week. Price Action Support and Resistance While price action presents a somewhat objective framework for traders to work with, identifying workable zones of support and resistance requires a bit of subjectivity.
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