…and overall dollar selling The AUDUSD is racing higher encouraged by the overall dollars selling after Fed chair Powell’s Jackson Hole speech and overall risk on sentiment help by rising stock prices. The NASDAQ index is currently at 148 points or 1%. The Dow industrial average is up 231 points or 0.65% and the S&P is up
Month: August 2021
Consolidation or a short pause? 10-year Treasury yields nearly touched 1.36% just before Powell’s speech but they’re down to 1.32%, highlighting that the bond market is less worried about a September taper. I think the market discussion will shift away from a Nov/Dec/Jan timing on tapering decision to more of a focus on the pace.
Physical gold demand in India was subdued this week as jewellers held off purchases, hoping for a dip in prices, but top consumer China saw a slight uptick in activity. Dealers in India were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75 per cent import and 3
“One more good jobs report will be sufficient to be able to start tapering,” the US Federal Reserve (Fed) Governor Christopher Waller said in Yahoo Finance interview, adding that “we would like to start tapering early this fall.” Read: Federal Reserve Chair Powell: Make me a rate hawk, but not yet Further comments “We don’t look
Trading Forex Without Indicators – Live Forex trading Best Forex Scalping Strategy + SURPRISE 🔴 In this video we are going to learn trading without indicators, this is one of my favorite strategies ever. The Forex no indicator strategy relies on the support and resistance trading strategy and the fundamental analysis. This strategy allows the
Hello traders! Glad to see you here! In this video, I will show you how to enter the market. I am going through some charts real time, so we get to experience the different market occurences. Make sure to let me know if you need more info, as this video is just an outline of
The Fibonacci number sequence is a mathematical phenomenon discovered centuries ago that traders use to analyse financial market movements. This video covers the significance of Fibonacci numbers and ratios in history, nature and finance. Topics include: – Examples of Fibonacci extensions in forex trading – How to identify trends – How to use different extensions
Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium didn’t disappoint. He did what the markets expected, affirming the openness for beginning tapering this year, without indicating the need for an imminent start. Just as Philadelphia Fed President Patrick Harker described, Powell laid out where the center of the FOMC is in terms of
Gains of 0.30% to 0.60% for the major indices The European major indices are ending the session higher after earlier declines. The indices have been dried higher by solid gains in the US after Fed Powell’s Jackson Hole speech. The provisional closes are showing: German DAX, +0.3%. The index was down -0.3% at session lows France’s CAC +0.2%. It was down -0.32%
Natural gas up another 4.5% today A tight US storage report yesterday sent natural gas prices into overdrive, spiking 6% yesterday and another 4.5% today. Prices at Henry Hub are at $4.37 per MMBtu, which was a pipedream a year ago when they were at $1.80. For the Fed, this adds a complication to the
The government’s Gold Monetisation Scheme (GMS) allows you to deposit your idle gold with a Reserve Bank of India (RBI) designated bank and earn interest on the same. This works similar to a bank fixed deposit. Depending on the tenure of the GMS one opts for, one can earn up to 2.5% interest per annum.
GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765,
Japanese yen has been rather stable over the past weeks despite volatility in other major currencies. It’s resilient performance over the past few days despite heightened FOMC tapering talks is no accident. We summarize three major drivers of this. Funding Currency Firms on Risk Aversion A key theme of USD’s strength over the past weeks
The Ethereum (ETH) network is currently the dominant layer-one protocol in terms of smart contract deployment and active users, but the race to become the ‘world’s computer’ is far from settled because competing protocols are gaining traction by offering solutions to high transaction costs and slow confirmation times, the biggest problems facing the network. One
S&P has its best day in more than a month The major US stock indices all closed higher. Both the S&P and NASDAQ closed at record levels The S&P closed at a record level for the 52nd time this year Every sector of the S&P closed higher except healthcare and utilities The NASDAQ closed at record level
Forex news for North American trading on August 27, 2021. The forex markets (and other markets for that matter) have been tending to go from key event to key event. This week, it was the keynote address from Fed Chair Powell at the Jackson Hole virtual summit. For good order sake, that summit was schedule
LONDON: Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend. Brent crude futures were $1.22, or 1.7 per cent, higher at
Cleveland Fed President Loretta Mester told Bloomberg TV on Friday the Fed has basically met the criteria for tapering asset purchases. However, she further noted that the only real risk is if the Delta variant causes a bigger pullback in demand than expected, per Reuters. Additional takeaways “Fed should use the September meeting to layout
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