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The Chinese government has approved a 2024 budget with a 3% deficit of GDP, which is set to be lower than the 3.8% of 2023. Reuters has reported that the government intends to issue special bonds to finance the fiscal budget.
The USD/JPY appears to be still waiting for the Bank of Japan to initiate a move, as the central bank is set to announces its future policy. Meanwhile, the rate started to surge, as it moved above 142.50. However, it could be short sellers closing their positions and taking profit before the fundamental event. From a technical perspective, the surge
The GBP/USD declined on Friday and the move extended on Monday. It has been observed that resistance is found in the 1.2700 mark. Support is provided by the weekly simple pivot point at 1.2656, the 1.2650 level and the 100-hour simple moving average close below these levels. An extension of the ongoing decline could look for support in the 200-hour
The EUR/USD rate has declined below the 1.0900 mark, where it appears to have found support in the combination of the weekly simple pivot point, 100-hour simple moving average and the 1.0880/1.0888 range. A potential recovery of the Euro against the US Dollar is set to face the resistance of the 50-hour simple moving average near 1,0940. Higher above, note
General Motors has announced another lay off of employees. This time the company intends to let go 1,300 workers in Michigan.
A recent Reuters poll has revealed that 20% of surveyed economists expect an end to Bank of Japan's easy monetary policy already in January.
Due to the expectations of Federal Reserve rate cuts, crude oil prices have booked a week of gains not observed for two months.
Dear Dukascopy clients, note that the requirements for equity are bound to change during the weekend. Please, adjust your positions accordingly to avoid unexpected margin calls. Maximum available leverage for the weekends and other market closure days is set to 1:30 (1:60 for accounts with maximum leverage of 1:200). The purpose of this policy is to mitigate risks caused by potential
Since the Fed move, the metal's price remains near 2,040.00. We have marked the resistance and support ranges of the ongoing consolidation at 2,046.80/2,047.80 and 2,027.70/2,030.00. Meanwhile, on Friday already 55% of open positions were short. Moreover, pending orders in the 1000-point range around the current price were 100% to sell.Economic Calendar Analysis During the week before Christmas, there will be a
In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan. In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate that
On Thursday, at 12:00 GMT, the United Kingdom's central bank announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%. In the meantime, the Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact. However,
The rate was surging after finding support in the 1.0880/1.0888 range, as the management of the European Central Bank added fuel to the fire. Despite keeping the Euro rate unchanged, the central bank President Christine Lagarde made comments on how the policy should be strict and tight, which pushed the Euro even higher. After the events, the surge continued until the
Since the Fed move, the metal's price remains near 2,040.00. We have marked the resistance and support ranges of the ongoing consolidation at 2,046.80/2,047.80 and 2,027.70/2,030.00. A move above 2,047.80 is set to immediately face the 2,050.00 mark. If the price for gold moves even higher, note the marked levels. They have acted as resistance during the early December booking
The US White House has decided upon subjecting US drug makers to inflation penalties that would subject to fines pharmaceutical companies whose prices increase higher than official inflation.
In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan. In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate
On Thursday, at 12:00 GMT, the United Kingdom's central bank announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%. In the meantime, the Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact.
The rate was surging after finding support in the 1.0880/1.0888 range, as the management of the European Central Bank added fuel to the fire. Despite keeping the Euro rate unchanged, the central bank President Christine Lagarde made comments on how the policy should be strict and tight, which pushed the Euro even higher. After the events, the surge continued
The Warren Buffet fund Berkshire Hathaway has bought up Occidental petroleum shares worth nearly $588.7 million.
The maker of Photoshop Adobe has announced this week that due to regulatory issues over the company's subscriptions it expects a decline in quarterly revenues.
Reuters has reported that the ongoing changes in the government positions of Japan could change the way the central bank of the country views its ultra-easy policy. A different government might allow to change the long standing monetary course.
On Thursday, at 13:15 GMT, as it was expected by market analysts, the European Central Bank has kept its base interest rate at 4.50%. In general, the ECB has continued to follow the example of the US Federal Reserve. The initial rate announcement did not cause a notable market reaction. However, the follow up press conference by the President and
Reuters has reported that a Chinese chip designer Brite Semiconductors has managed to avoid US chip crackdown by being part-owned by the country's top sanctioned firm and backed by US financing. The company has been offering six chip designs to the People's Liberation Army.
As it was expected by market analysts, the European Central Bank has kept its base interest rate at 4.50%. In general, the ECB has continued to follow the example of the US Federal Reserve.
It has been revealed by in-depth analysis of the recent Consumer Price Index data that high rental costs have been the main driver for stubborn inflation.