Currencies of countries that are major exporters of raw materials or commodities can be impacted by news forex trading news, as this affects the prices of the main commodities that they produce. Prices of commodities that affect DotBig broker these currencies can be influenced by issues affecting supply and demand. Our news and analysis section is updated daily with articles on the forex, share, treasury, commodity and index markets, written by our market analysts.
The US economy has added 239k fresh jobs in the labor market, which will support the Fed to keep up the pace of hiking rates further. Moving on, copper prices are likely to grind lower amid broad economic fears and an anticipated increase in the US dollar. However, today’s US ISM Services PMI for October, forecasted to ease to 55.5 in October compared to 56.7 in previous readings, will precede Friday’s jobs report to direct short-term moves. Powell reiterated that it was very premature to even be thinking about pausing rate hikes and said that he was expecting December’s dot plot to show a higher terminal rate than September’s projection.
Pboc Sets Usd
The dollar staged a solid comeback in tandem with the Treasury yields, weighing heavily on the bright metal. Traders now await the BoE rate hike announcements, which are likely to underscore the Fed-BoE policy contrast, adding to the ongoing dollar strength while exacerbating the pain in XAU/USD. The next of relevance for the bullion remains Friday’s US Nonfarm Payrolls release for further hints on the Fed’s next rate hike move. Forex, or the foreign exchange market, is the market where international currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. The forex market is the largest and most liquid market in the world, with average daily trading volumes in the trillions of dollars. Knowing how to predict direction is important for anyone who wants to trade in the forex market.
The FX Leaders news feed is a great way to stay on top of the evolving global marketplace. A manual alternative is to monitor upcoming tradeable events using our economic calendar. This feature can be found on our Next Generation platform and highlights events such as unemployment reports, GDP, CPI and PPI figures, as well as trade reports and sentiment surveys. These events can all have an effect on market sentiment and cause major price swings within the financial markets. https://www.dukascopy.com/swiss/english/forex/trading/ Stock trading based on news releases is a strategy used by many long-term investors, as well as short-term traders. If a company has strong balance sheets, cash flows and earnings reports consistently, then a trader may decide to buy and hold the sharefor a longer period of time. News related to market sentiment can also influence currency trading, particularly those considered to be safe havens, including the commodity gold, as well as major currencies USD, JPY and CHF.
Bloomberg Daybreak Europe
RBA Governor Philip Lowe continued with a 25 bps rate hike structure, keeping in mind, economic prospects should remain firmer along with the agenda of bringing price stability. The majority of the market participants are expecting that the BOE will push interest rates by 75 basis points as the inflation rate has recaptured the double-digit figure. The global financial markets are interconnected and depend greatly on the financial and macroeconomic statistics. Currency rates — the basic instruments Forex of the foreign exchange market — are affected by the by major financial news, fundamental statistical reports and important geopolitical events. But nothing compares to seeing the actual effects of the news on the Forex market. However, if a company releases a report with considerably lower financials than expected, this can cause a rally for traders to short the stock as its value is decreasing. Traders can perform company analysis before deciding whether to invest in a stock.
- That said, the quote’s latest pullback remains elusive unless breaking the 50-DMA support of $85.80.
- Gold price (XAU/USD) is displaying back-and-forth moves in a mild range below $1,640.00 in the Tokyo session.
- Furthermore, the strong points of the US ADP Employment Change for October, to 239K versus 195K expected and a revised down prior figures of 192K, also propelled the quote.
- The China stock market has tracked higher in two straight sessions, advancing almost 110 points or 3.7 percent along the way.
- There is also a bearish wick on the daily chart that would be expected to be filled in.
- As expected, the Fed decided to raise its policy rate by 75 basis points to the range of 3.75-4% following its November policy meeting.
There is also the risk of carrying positions for a longer period of time. If the news release requires a few days or weeks to materialise, https://totalheadline.com/dotbig-review-what-you-need-to-know/ your trading positions may be open over several days. This brings overnight risk and may require you to pay additional holding costs.