Markets now look ahead to nonfarm payrolls expected to be strong against the backdrop of the ADP numbers and the uptick in manufacturing employment. Copper Rebound Chances Fade on Weak Demand and Rising SupplyCopper prices look doomed to continue languishing over the near term. A depressed economic outlook is likely to weigh on prices even on a protracted US Dollar pullback. By DotBig broker Peter Nurse – The U.S. dollar edged lower in early European trading Friday as sterling and the euro stabilized near one-week highs, helped by intervention by the… And that has seen the yuan weaken to 7.2 against the US dollar, a level not seen since 2008. It was an incredible week in financial markets, which is something we seem to be saying every week lately.

By Lisa Pauline Mattackal and Medha Singh – A new NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-million-dollar lifeline for… The combination of the UK’s mini-budget and general flight to the US dollar has sent the pound broadly lower and GBP/USD to a new record low. BoE is attempting to soothe investor nerves after they were spooked by last week’s mini budget. Trading journals are crucial for implementing your trading strategies effectively. Learn how to start one and what you should be tracking with it in this guide. If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.

Gold Sits Near Three

By Ambar Warrick– Most Asian currencies crept lower on Monday as concerns over worsening global economic growth kept the dollar close to a 20-year peak, while… By Caroline Valetkevitch and Alun John NEW YORK/LONDON – Sterling jumped against the dollar on Monday after Britain reversed a plan to cut the highest rate of income… The Thai stock market has finished lower in seven straight sessions, sinking almost 90 points or 5.6 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,560-point plateau although it may finally stop the bleeding on Tuesday. Indian shares look set to open on a positive note Tuesday, though oil price movements, the direction of rupee and caution ahead of a holiday on Wednesday might induce some volatility as the session progresses. Asian shares climbed on Tuesday amid hopes for a dovish pivot from the U.S.

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  • 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…
  • 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, .
  • This leaves traders nervous to buy the dip in Gold as it moves to its lowest level since April 2020.

Shares rose sharply on Tuesday, building on gains from the previous session after the government made a dramatic U-turn on one of the tax cuts that contributed to extreme bond market turmoil last week. Trade 9,500+ global markets including 80+ forex pairs, thousands of shares, popular cryptocurrencies and more. 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. 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.

Chinas Tencent Is Quietly Surrounding Us Tech Giants With Trojan Horse Investments

MOSCOW – Russia’s top business lobby called on Friday for the central bank to build up its reserves of the Chinese yuan in a bid to stabilise the rouble, which is… By Peter Nurse – The U.S. dollar edged higher in early European trading Monday, while sterling also gained after the U.K. Experience award-winning Forex news platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 1 pt on indices. 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.

Unemployment data from Spain and producer prices from the euro area are due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, the National Institute of Statistics is scheduled to issue Romania’s producer prices for August. European shares rose sharply on Tuesday to extend gains from the previous session as weak U.S. manufacturing and construction data released overnight raised hopes for slower Federal Reserve tightening. DotBig LTD Shorting the pound is a strategy that makes profit if the price of the British pound falls. To short the pound, you want to enter the trade as close to resistance level as possible. As for economic data, it arrived with downward revisions to durable goods, but that did little to slow up the pace of flow into the greenback in North American trade. US June factory orders +0.7% vs +0.7% expected and US weekly initial jobless claims 218K vs 220K expected.