Hottest Forex News

The Nasdaq 100 outperformed as the Dow Jones fell last week. A strong US jobs report is placing the market at odds with the Fed as officials try to downplay dovish expectations. Now, the US Dollar,…

Review of the main events of the Forex economic calendar for the next trading week (08.08.2022 – 14.08.2022)

The dollar ended the first week of August in the positive territory against its main competitors in the foreign exchange market. The reason for optimism and new hopes of buyers of the dollar was the publication last Friday of a very positive monthly report of the US Department of Labor with data for July. According to this report, unemployment fell to a new pre-pandemic level of 3.5%, and the number of non-farm payrolls in the US economy grew by 528,000 (against the… Read full author’s opinion and review in blog of #LiteFinance

Amid a quiet Eurozone economic calendar, traders will focus on evolving ECB rate hike odds.

US equity markets are on the back foot after the latest blowout NFP report with Wednesday’s US inflation release set to be the next market driver.

The update to the US Consumer Price Index (CPI) may sway USD/CAD as the Federal Reserve struggles to reduce inflation

<p>China trade data for July 2022 was released on Sunday:</p><p class=”western” align=”left”>
This
snapshot is from the ForexLive economic data calendar, <a href=”https://www.forexlive.com/EconomicCalendar”>access
it here</a>.</p><p>China’s economy continued to recover from lockdowns earlier in the year through July, the best growth in exports will be welcome. Less welcome of course is the miss on imports, this will be read as a sign that domestic demand in the country continues to lag. Consumers in China are wary of the imploding property sector being crushed by heavy loads of debt, a repayment strike from homebuyers not seeing promised homes delivered by developers, and widespread contagion. Government economic support is helping cushion the blows, but not entirely. </p><p>China has thrown in the towel of hitting its GDP growth target this year:</p><p class=”text-align-start vertical-align-baseline”>From July:</p><ul><li><a href=”https://www.forexlive.com/news/chinese-premier-li-keqiang-signaled-flexibility-on-the-economic-growth-rate-20220720/” target=”_blank” class=”article-link”>Chinese Premier Li Keqiang signaled flexibility on the economic growth rate</a></li></ul><p class=”text-align-start vertical-align-baseline”>And then:</p><ul><li><a href=”https://www.forexlive.com/news/chinas-politburo-all-but-acknowledged-its-given-up-on-hitting-the-growth-target-this-year-20220729/” target=”_blank” class=”article-link”>China’s Politburo all but acknowledged its given up on hitting the growth target this year</a></li></ul><p>The latest:</p><ul><li><a href=”https://www.forexlive.com/news/chinese-premier-li-keqiang-has-signalled-a-higher-tolerance-for-inflation-this-year-20220804/” target=”_blank”>Chinese Premier Li Keqiang … “we can live with a growth rate that is slightly higher or lower than the target”</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.

<p>BTCUSD had a nice rally above 3% yesterday but volume is not strong and bitcoin can easily test the 20k mark or close to it. We aim for a short position with a ‘take profit’ target that is in line with testing an important VWAP, and is much higher than that 20 thousand dollar key prioce point. In fact, we aim to take profit and exit the trade even above 21k, at $21421</p><p>Still, in crypto trading, this is above 7.5% move, and at a leverage of 5 to 1, this is almost a 40% return on the capital committed on the trade. Remember that we are not suggested or telling you to trade, nor is this a signal service. It is an opinion and through that persepctive, we also show a view of the current technical analysis for bitcoin. In this case, on the daily timeframe. In other words, our trade idea is a means to show you a certain technical analysis. Trade at your own risk.</p><p>In this specific technical analysis for the crypto king, VWAP has been changed to make Anchored VWAP. It ties calculations to a price bar that the trader has chosen. It is like the traditional VWAP in that it uses a weighted average of the price and the number of trades. It can also find the areas of support and resistance on the chart, just like VWAP. In this case, we anchor the VWAP from the pivot point and the low of the recent period, which is 17567, the low of 18th of June.</p><p>BTCUSD had made 4 pushes up since that low, creating what some algos and pro traders would view as ascending wedge. A rising wedge pattern is a bearish chart pattern that shows a break down is coming soon, in probability that is higher than 50%. That is a a suffient chance when taking into consideration that the profit target here is 1.5 times the risk (the distance from the entry to the stop loss).</p><p>Who knows, maybe this bitcoin price forecast is partially affected by a bias becuase <a href=”https://www.forexlive.com/Cryptocurrency/every-us-crypto-exchange-and-binance-is-being-investigated-by-the-sec-20220805/”>every U.S. Crypto Exchange (and Binance) is being investigated by the SEC</a>.</p><p>Trade bitcoin or any other crypto at your own risk only. Visit our <a href=”https://www.forexlive.com/technical-analysis”>technical analysis</a> for other persepctives on a variety of assets.</p>

This article was written by ForexLive at www.forexlive.com.

<p>The US jobs report on Friday helped to initially move the dollar higher, stocks lower and yields higher. However, by the close, the dollar had come off high levels, stocks took back declines. Yields did stay elevated. </p><p>What about the expectations going forward?</p><p>What might the Fed officials reaction be to 528K new jobs?</p><p>What are the technicals saying for the major currencies vs the USD?</p><p>Where do the major US stock indices sit and what are their charts saying?</p><p>In this weekend video, I discuss the jobs report, my feelings on what response Fed officials may have, and what the charts are saying for currencies and the major US indices. </p><p>Prepare for the week ahead. </p>

This article was written by Greg Michalowski at www.forexlive.com.

Gold’s recent rally stalls as the latest NFP report tempers recession fears for now.

<p>U.S. Federal Reserve Governor Michelle Bowman spoke on Saturday at a Kansas Bankers Association event in Colorado. </p><p>Key takeaway comment:</p><ul><li>”I supported the FOMC’s decision last week to raise the federal funds rate another 75 basis points. My view is that similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful, and lasting way.”</li></ul><p>Bowman says she is seeing few, if any, signs of peak inflation and that she supports further rate hikes until a major decline is seen. Until then 75bp hikes are possible. </p><p>More:</p><ul><li>supply issues will continue to drive inflation</li><li>there are significant inflation risks for food, fuel, & housing in 2023</li><li>I want unequivocal inflation cooling before modifying my outlook</li><li>inflation is much too high</li><li>inflation is putting a strain on households, excessive inflation is a bigger threat to the labour market</li><li>says she sees a possibility of FOMC steps slowing or even halting growth in jobs</li><li>a pickup in H2 GDP, and then modest growth next year, is the base case</li><li>labour market is tight, but there are signs easing</li></ul><p>Michelle Bowman is a member of the Fed’s Board of Governors and is thus a voter at the Federal Open Market Committee (FOMC). </p>

This article was written by Eamonn Sheridan at www.forexlive.com.