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The ECB's consumer expectations survey shows mixed economic signals with slight improvements in unemployment expectations but unchanged growth forecasts. The euro faces pressure from a strong USD, while the GBP shows resilience, contributing to the strength of GBP/USD and the decline of EUR/GBP.
Gold prices are buoyed by weak U.S. economic data, reduced Fed rate hike expectations, and ongoing geopolitical tensions. The precious metal is set for its third consecutive quarterly gain, with upcoming U.S. inflation data being closely monitored.
The dollar's recent strength was tempered by last Friday's Personal Consumption Expenditures (PCE) reading, which aligned with market expectations. The mixed results of recent U.S. economic indicators have cast uncertainty over the Federal Reserve's upcoming monetary policy moves, although part of the market remains optimistic about an October rate cut.
Market Review | July 1, 2024
Market Review | July 1, 2024
The Japanese Yen has reached a historic low, despite government intervention efforts. This has strengthened the US Dollar Index. USD/JPY hit a multi-decade high, driven by the Yen's weakness. Despite the overbought RSI, traders eye support levels at the 55-day (156.53) and 100-day (153.81) SMAs before challenging new highs.
As global attention focuses on the televised debates of the two major parties in the United States, France is also gearing up for its highly anticipated National Assembly elections this weekend amid the turmoil surrounding the upcoming presidential election. President Macron's decision to call for these emergency elections following his party's defeat in the European Parliament elections earlier this month has sparked market chaos. Investors fear that the new government could exacerbate the coun
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming July holidays.
Candlestick patterns, also known as Japanese candlestick charts, are a widely used technical analysis tool for describing the price movements of securities, derivatives, or Forex. From the beginning of my trading journey until now, I have learned about approximately 40 types of candlestick patterns.
As investors seek stability and diversification in their portfolios, especially in uncertain economic periods, gold stands out as one of the best options. How many types of gold exist? Before diving into golden investments, it's crucial to grasp the various forms that gold can take.
Mitrade is an award-winning broker that was founded in Melbourne, a major city in Australia, by a team of fintech and financial trading industry veterans. Mitrade is regulated by multiple governmental bodies, and the broker says its goal is to make trading more “simplified” and “user-friendly.”
In an honorable moment, STARTRADER has received 4 prestigious awards at the ProFX Awards ceremony held on 31 May 2024, Queen Elizabeth 2 Hotel in Dubai, UAE.
The US ISM Manufacturing PMI came in at 48.7 for May, below the forecast of 49.8 and the previous reading of 49.2. The main reasons for this stagnant reading are ongoing weak demand, which affects supplier orders, inventories, capital investments, and employment. In May, ADP Nonfarm Employment Change have increased 152,000 jobs, which was below the forecast of 173,000 and down from the previous month's 188,000. The US ISM Non-Manufacturing PMI for May exceeded expectations, registering 53.8...
Investors are eagerly anticipating today’s U.S. Personal Consumption Expenditures (PCE) data for further insights into the dollar’s trajectory.
XAU/USD is expected to decrease as U.S. Continuing Jobless Claims hit their highest since late 2021, with 1.84 million people still receiving benefits. Despite a drop in new claims to 233k, focus shifts to core PCE data, predicted to fall to 2.6%. The RSI indicates strong selling pressure. Gold's support is at $2300, with potential drops to $2277. A rise to $2350 targets resistance at $2387 and $2400.
Market Review | June 28, 2024
Market Review | June 28, 2024
Brent crude futures prices fell slightly during the Asian trading session, affected by an increase in U.S. crude oil inventories; the rise in U.S. Strategic Petroleum Reserve (SPR) stocks does not affect commercial statistics. At the same time, fighting near the Khartoum refinery in Sudan has affected crude oil exports, and a fire at the Dangote refinery in Nigeria has been controlled and a new unit has been launched. The global tanker fleet faces a risk of supply shortage. The agricultural comp
The Japanese Yen plummeted to its weakest level since 1986 at 160.87 against the greenback, the currency pair has lost more than 12% this year
Investing in the stock market can be a rewarding venture, but it comes with its own set of complexities and learning curves. For beginners, the terms "long" and "short" might seem confusing at first. However, understanding these concepts is crucial for anyone looking to buy and sell stock effectively. This guide will walk you through the essentials of long and short stock positions, providing clarity and confidence in your trading journey.