USD/CAD made a large move higher today, though it doesn’t seem like it was based on fundamentals.
On the flip side, CAD fared the worst, changing by -0.57%. Today’s NFP report is the main event for traders, and the consensus forecasts is for headline job growth to soften to 200k , and the unemployment rate remain at 3.7%. Although this may be a light week for economic data, there are plenty of events taking place that could cause the markets to be volatile. The Dollar put itself into a position for a potential critical breakdown that could redefine its medium to long-term trend from the productive bullish climb of 2022 into a progressive retreat from multi-decade highs. USDJPY is perhaps the most extreme cross to reference amid the reversal risk considering that its brief rally above 150 a few months back … Dailyfxupdate.com- Our goal is to provide traders with all the information and tools they need to trade successfully. Our team of professional traders has been testing Forex brokers for over 12 years and has helped millions of traders find the right broker.
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- Over the past hour, USDZAR stands out as the biggest mover in the forex asset class on a percentage basis, dropping -5 pips (-0.3%).
- The RBA used the last meeting of the year to hike interest rates by another 25bp – its eighth hike in as many meetings.
- By Ambar Warrick Investing.com– Most Asian currencies slipped on Tuesday as renewed fears of rising U.S. interest rates largely offset optimism over easing COVID-19 restrictions…
- Based on the limited figures we have access to, there’s some evidence that the labor market has deteriorated over the last month…
Excess FX volatility, disorderly moves can hut the economy. Investing.com – The last day of the week could prove to be a decisive one for EUR/USD, whose strong rise over the last few days will be put to an important test this Friday…. By Yasin Ebrahim Investing.com – The dollar’s joyride on the back of the strong November jobs report Friday ran out of steam, but the bears aren’t likely to squeeze the greenback… By Ambar Warrick Investing.com — Most Asian currencies rose sharply on Monday as more Chinese cities relaxed some anti-COVID measures, while improving risk appetite and…
GBP/USD: What’s with all that?
FTSE 100 of the London Stock Exchange shed close to half a percent amidst fears that the recent data releases from the U.S. could derail the Fed’s stated intentions to moderate the interest rate increases. EUR/JPY Breaks Horizontal Resistance, Eyeing Triangle BreakoutThe pair is at an interesting point at present with price action giving mixed signals. Price is being squeezed with the apex of the triangle approaching, a breakout is imminent. The author and FXStreet are not registered https://forexreviewdaily.com/icmarkets/ investment advisors and nothing in this article is intended to be investment advice. Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 14th in terms of percentage change since yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. Volatility for nzdusd has been contracting over the past two weeks relative to volatility over the past month.
It crossed its 20, 50, 100 and 200 day moving averages. Below is a list of currency pairs that crossed key https://forexreviewdaily.com/ moving average levels over the past day. Over the past two weeks, the strongest trend has been on AUDNZD.
Market News
By Peter Nurse Investing.com – The U.S. dollar weakened in early European trade Monday and the Chinese yuan soared to its highest level since mid-September as relaxation of some of… LONDON – Banks in countries such as Ukraine and Turkey face a "very high" risk from restrictions on capital flows, weak international reserves and a high level of… By Ambar Warrick Investing.com– Most Asian currencies slipped on https://forexreviewdaily.com/ Tuesday as renewed fears of rising U.S. interest rates largely offset optimism over easing COVID-19 restrictions… Canadian shares are likely to open on a cautious note on Tuesday, tracking mixed commodities, and weak European markets. The Aussie dollar rose 0.46% to $0.6729, clawing back some of Monday’s 1.4% fall as the RBA said it was not on a preset course to tighten policy but inflation was still high.
Alternatively, on a 90 day basis, the strongest trend appears on USDTRY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURNZD. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs. Price action traders will also want to note that a base appears to be forming on USDCHF, AUDUSD, USDSEK, EURJPY, EURNOK and GBPNZD. Price bases often precede increases in volatility and a clear trend. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. LONDON, Dec 6 – The U.S. dollar index edged lower on Tuesday but stuck close to levels reached this week in the wake of strong services data in the United States which fuelled expectations for higher interest rates than recently forecast.
Hu Xijin offers more hints that China will open up
By Karen Brettell NEW YORK – The U.S. dollar dipped to 16-week lows against a basket of major currencies on Thursday after data showed that U.S. consumer spending… By Fergal Smith TORONTO – The Canadian dollar weakened against its U.S. counterpart on Thursday as investors reduced bets on another oversized interest rate hike by the… By Fergal Forex brokers Smith TORONTO – The Canadian dollar weakened against its U.S. counterpart on Friday as domestic jobs data caused few surprises, while a stronger-than-expected… By John McCrank NEW YORK – The dollar gained against the yen, the euro and the pound on Monday after data showed that U.S. services industry activity unexpectedly picked…
CRYPTOCURRENCIES
The CAC-40 followed Asian and European peers to trade in the negative zone amidst data showing strong economic activity in the U.S. that threatened to jeopardize the Fed’s commitment to moderate interest rate increases. Reflecting a decrease in the value of exports and an increase in the value of imports, the Commerce Department released a report on Tuesday showing the U.S. trade deficit widened in the month of October. The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia raised rates for the eighth time in as many months. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For more https://forexreviewdaily.com/ beyond what is offered on CFDTrading, check out Forex Factory, FX Empire, and ForexLive. For the latest stories on specific currency pairs, try the articles below. Lastly, instruments ZARJPY, AUDJPY, CADJPY, USDHKD and GBPNZD are close to their 200 day moving average.
By Joice Alves LONDON – The U.S. dollar index edged lower on Tuesday but stuck close to levels reached this week in the ic market broker wake of strong services data in the United States… Keep track of the latest currency market moves as they develop.
ECB’s Herodotou: There will be more rate hikes but we are very near neutral rate
Investing.com – The EUR/USD pair hardly reacted to the positive European inflation surprise. The preliminary Eurozone CPI for November came in at 10%, down from 10.4% expected, and… Investing.com – Yesterday was a busy day for the EUR/USD, with gains in the morning, in the face of half-hearted European inflation figures, then with a correction in the… Mr. Yohannan, who is based in Axi’s Sydney https://www.forextime.com/education/forex-trading-for-beginners global headquarters, joined the company in 2016 after serving as CEO of OANDA Asia Pacific. He had also previously worked at Citi, where he was Managing Director, eBusiness. Automotive replacement parts retailer AutoZone, Inc. reported Tuesday that net income for the first quarter decreased to $539.32 million or $27.45 per share from $555.24 million or $25.69 per share in the year-ago quarter.
Fed Fears Weaken Sentiment At FTSE-100
Relative to other instruments in the forex asset class, nzdjpy ranked 10th the previous day in terms of percentage price change. The pairs that made the biggest moves, on a percentage basis, over the past day were NZDCAD, AUDCAD, and NZDCHF. Note that AUDCHF, ZARJPY, NZDJPY, GBPCHF and EURAUD made especially large and surprising moves over the past day. The Riksbank meets on Thursday and the decision to raise by 75bps or 100bps could have implications for the next direction in EUR/SEK. Chances are that Powell and gang stick to the plan and only hike 50bps. However, that’s not to say that they can’t increase rates later if they deem it necessary.
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. Ahead of the December central bank’s meeting, European Central Bank policymaker Gabriel Makhlouf said that a 50 bps rate hike is the minimum necessary, adding that he would not rule out a 75 bps hike. The ECB and the US Federal Reserve will announce their decisions on December 15 and 14, respectively, and policymakers will enter their blackout period next Thursday. For those who pay attention to moving averages, ZARJPY may be of particular interest.
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