Forex News

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European stock futures lower

European stock futures lower; weak German factory orders add to economic woe Investing.com – European stock markets are expected to open lower Wednesday, as weak German factory orders and rising oil prices added to global growth concerns.  At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.2% lower, CAC 40 futures in France dropped 0.3% and the FTSE 100 futures contract in the U.K. fell 0.3%.  German factory orders slumped in July Data released Wednesday showed that German factory orders fell 11.7% in July, slumping after the prior month’s 7.0% gain.  June’s hefty jump was helped by sharp gains in the aerospace sector, and excluding Read more…

By pipsmarket, ago

Control your Emotions

The importance of day trading emotional control cannot be overstated. Imagine you’ve just taken a trade ahead of Non-Farm Payrolls (NFP) with the expectation that if the reported number is higher than forecasts, you will see the price of EUR/USD increase quickly, enabling you to make a hefty short-term profit. NFP comes, and just as you had hoped, the number beats forecasts. But for some reason, price goes down! You think back to all the analysis you had done, all the reasons that EUR/USD should be going up – and the more you think, the further price falls. As you see the red stacking up on your Read more…

By pipsmarket, ago

Ready to Conquer

This article will teach traders about why discipline and patience is important in trading. It will provide tips on how traders can achieve the levels of discipline and patience they need, why traders should use a stop loss in Forex trading, and much more! Countless traders enter the Forex market every day, but many of them fail. Some traders focus too much time on creating the perfect trading strategy, which leaves them with little energy to develop proper discipline. This approach is a recipe for failure, as it is far more important to have a trading plan you can execute, rather than one that is Read more…

By pipsmarket, ago

Patience and Discipline

This article will teach traders about why discipline and patience is important in trading. It will provide tips on how traders can achieve the levels of discipline and patience they need, why traders should use a stop loss in Forex trading, and much more! Countless traders enter the Forex market every day, but many of them fail. Some traders focus too much time on creating the perfect trading strategy, which leaves them with little energy to develop proper discipline. This approach is a recipe for failure, as it is far more important to have a trading plan you can execute, rather than one that is Read more…

By pipsmarket, ago

Australia’s Central Bank Set to Stand Pat at Lowe’s Last Meeting

Australian Economy Defies Rate Hikes as Exports Drive Growth Business activity in the UK is losing ground, as is the case in Europe and China, although the final reading for August saw the services PMI rise to 49.5 from the first estimate of 48.7. According to today’s PMI, the services sector moved from growth to contraction in August, falling to 49.5. At the end of last week, the PMI for the manufacturing sector fell to 43.0. Apart from April and May 2020, the index was only lower between October 2008 and February 2009. This dynamic clearly shows the harshness of Read more…

By pipsmarket, ago

Part of China’s economic miracle was a mirage. Reality check is next

STOCKS Reuters-Logo ANALYSIS-Part of China’s economic miracle was a mirage. Reality check is next BEIJING, Sept 4 (Reuters) – Chinese President Xi Jinping’s first major reform plans a decade ago were also his boldest, envisaging a transition to a Western-style free market economy driven by services and consumption by 2020. The 60-point agenda was meant to fix an obsolete growth model better suited to less developed countries – however, most of those reforms have gone nowhere leaving the economy largely reliant on older policies that have only added to China’s massive debt pile and industrial overcapacity. The failure to restructure the world’s second-largest economy Read more…

By pipsmarket, ago

US dollar steady as traders bet Fed done with rates

Dollar eases as traders bet Fed is done with rate rises SINGAPORE : The dollar drifted in cautious trading on Monday as investors weighed U.S. jobs data that showed some signs of cooling, boosting expectations that the Federal Reserve was likely at the end of its monetary tightening cycle. Against a basket of currencies, the dollar inched 0.048 per cent lower to 104.18 but remained close to the two-month peak of 104.44 it touched on Aug. 25. The index gained 1.7 per cent in August, snapping its two-month losing streak. With U.S. markets closed on Monday, liquidity is likely to Read more…

By pipsmarket, ago

USD Doller

The Fed likely won’t raise rates this month — but November is another matter Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. But the Fed hasn’t ruled out additional rate increases, and that could still happen unless inflation slows further. Financial markets see more than a 90% chance that Fed officials will vote for a pause at their policy meeting on September 19-20, according to the CME FedWatch tool, but investors’ bets of another pause in Read more…

By pipsmarket, ago
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gold

Markets slipped into the pre-NFP consolidation mode on early Friday, following a turnaround on Thursday. That said, the US Dollar fades the previous day’s recovery from the key moving average amid mixed bias about the Fed while sentiment remains cautiously optimistic due to China stimulus measures. Gold price edges higher but hesitates in benefiting from China’s multiple steps to infuse market liquidity and defend the Yuan. Further, Crude oil refreshes a three-week high as China news joins geopolitical and natural challenges to the energy supplies. Elsewhere, major currency pairs remain sidelined but AUDUSD drops the most among the G10 pairs Read more…

By pipsmarket, ago