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On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar. On the USD/JPY charts the event resulted in a sharp move below the 129.00 level and a
During the US Federal Reserve rate hike and the following press conference, the GBP/USD was highly volatile in the 1.2450/1.2550 range. As the head of the Federal Reserve stated that the Fed is not considering a 0.75% rate hike, the GBP/USD started to move upwards. Economic Calendar On Thursday, at 11:00 GMT, the Bank of England is scheduled to hike interest rates.
Throughout the week, the EUR/USD has been trading in a hundred base point range between a support zone at 1.0472/1.0491 and resistance at 1.0572/1.0593. The sideways trading was explained by the markets expecting the Federal Reserve Rate Hike on Wednesday at 18:00 GMT. As the rate hike occurred, the EUR/USD reacted with a 37 point move upwards, which hit the resistance
On Wednesday, the comments made at the Federal Reserve press conference by the Chairman Jerome Powell caused a drop of the US Dollar's value. On gold price charts it resulted in a move above a resistance zone at 1,872.00/1,878.00 up to the 1,890.00 level. If the price for gold continues to recover, it might encounter resistance in the 1,900.00 mark and
On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar. On the USD/JPY charts the event resulted in a sharp move below the 129.00 level and a
On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar.
During the US Federal Reserve rate hike and the following press conference, the GBP/USD was highly volatile in the 1.2450/1.2550 range. As the head of the Federal Reserve stated that the Fed is not considering a 0.75% rate hike, the GBP/USD started to move upwards. The surge was expected to test the resistance of the 1.2590/1.2615 zone. This range had acted
Throughout the week, the EUR/USD has been trading in a hundred base point range between a support zone at 1.0472/1.0491 and resistance at 1.0572/1.0593. The sideways trading was explained by the markets expecting the Federal Reserve Rate Hike on Wednesday at 18:00 GMT. As the rate hike occurred, the EUR/USD reacted with a 37 point move upwards, which hit
On May 4, the US Federal Reserve released its Federal Open Market Committee Statement and hiked the Federal Funds Rate from 0.50% up to 1.00%. The rate hike was expected by the markets, as the members of the central bank had revealed their plans for May. Meanwhile, the markets looked at the FOMC Statement for clues about the future policy
On Wednesday, Airbus announced that the company would delay its new A321XLR jet release into 2024.
During April, the asking price for Dukascoin went down from the 1.6000 mark to the 1.4300 level. On April 21, the price found enough support in the 1.4300 level to start a recovery. By May 4, the price was back at 1.6000 Meanwhile, the bid price remained in the 1.4000/1.5000 range during the first half of the month. On April 16,
On Wednesday, at 18:00 GMT, the US Federal Reserve was set to hike interest rates. Market consensus forecasts signalled a 0.50% rate hike.
On Wednesday, crude oil prices surged, as the European Union proposed a ban of Russian oil imports.
This week, it was revealed that factory activity in Canada had decreased due to capacity constraints.
During the first half of the week's trading, global markets were preparing for the incoming US Federal Reserve Rate hike by moving to safe-haven assets.
This week, EU antitrust regulators announced that they would fine Apple for restricting access to the company's NFC chip technology.
On Monday, Alphabet urged second-highest EU court to dismiss a 1.49 billion Euro antitrust fine.
The Bank of Japan announced on Monday that inflation in Japan would remain persistent due to increases in fuel and food prices.
Reuters revealed this week that despite surging demand US natural gas production growth had slowed down due to lack of pipeline infrastructure.
Reuters revealed on Friday that the Chinese Purchasing Managers Index is set to reveal a steep decline in production activity in China.
All attention during the week will be on the US Federal Reserve Rate Hike on Wednesday at 18:00 GMT. The central bank rate is forecast by the markets to be increased by 0.50%. However, a larger or smaller than expected increase could shock the markets by impacting the US Dollar's value. In addition, at 18:30 GMT, the Federal Reserve will
Data for the first quarter of 2022 revealed that the French GDP had remained unchanged. The markets expected a GDP growth of 0.3%.
On Monday, the USD/CAD currency pair recovered to the April high level at 1.2880. Meanwhile, the pair has revealed a support zone near 1.2720. If the pair surges above the 1.2880 mark, the currency rate could encounter resistance in the 1.2900 level and the weekly R1 simple pivot point at 1.2927. On the other hand, a bounce off from the April high
Since Thursday, the GBP/JPY currency pair has been trading between the support zone at 162.25/162.60 and resistance at 163.95/164.25. A move below the 162.25/162.60 zone would have no technical support as low as the weekly S1 simple pivot point at 160.10. Meanwhile, take into account that round exchange rate levels could slow down a decline. On the other hand, a surge above