Forex Market News and Analysis

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Wed, 25 Sep 2024 06:30:04 GMT

EssilorLuxottica partners with Meta

The smart glasses producer EssilorLuxottica has extended the firm's partnership with Meta Platforms. The two companies have entered a long-term contract that is aimed at the creation of new smart eyewear.

Wed, 25 Sep 2024 03:30:04 GMT

Ursa Major receives major order

The rocket motor producer Ursa Major has received a $12.5 million contract from the Pentagon. The contract is set to allow the firm to build new production and testing facilities.

Tue, 24 Sep 2024 21:30:05 GMT

Indonesian trade beats expectations

Data for August has revealed that Indonesian trade surplus reached a three-month-high level in August. The data passed market expectations.

Tue, 24 Sep 2024 18:30:09 GMT

J&J renews the cancer related trial

Johnson & Johnson has managed to convince an Oregon judge to overturn the verdict that mandated the firm to pay out $260 million to 62,000 consumer claims that the firm's products were contaminated with asbestos.

Tue, 24 Sep 2024 17:54:40 GMT

USD/CHF remains above support range

As it was forecast in August, the USD/CHF currency pair has reached the support of the 0.8330/0.8435 range. Meanwhile, the rate remains in the channel down pattern. The big question now is which one of the two fails, the support zone or the descending channel. A move below 0.8330/0.8435 would result in the rate reaching levels not seen since the

Tue, 24 Sep 2024 17:36:45 GMT

GBP/JPY faces 200-day SMA

At the start of September, the GBP/JPY currency pair encountered resistance in the 200-day simple moving average and declined below the support of the 190.00 mark. By the middle of the month, the rate found support at 183.70/184.40 and started a recovery. This week, the pair was back above the support of the 190.00 and was expected to soon

Tue, 24 Sep 2024 16:46:47 GMT

Visa stock drops due to lawsuit

The stock price of Visa has plummeted 4.25% at the start of September 24 US trading. The drop was caused by the announcement that the US Department of Justice that it is set to sue the company for allegedly monopolizing the US debit-card market. The upcoming lawsuit is set to extend the stock decline, if it drags on or the

Tue, 24 Sep 2024 16:37:08 GMT

CB Consumer Confidence causes minor move

The publication of the US Consumer Board Consumer Confidence index has caused a minor market reaction, despite the survey results showing a bleak picture. The survey results were forecast to show a positive future outlook with a reading of 103.9. However, actual survey results showed a reading of 98.7. The US Dollar index reacted to the news by declining just 28

Tue, 24 Sep 2024 15:30:05 GMT

Amazon forces workers back info office

The retail giant Amazon has mandated its office workers to work five days in a week at the office, starting from 2025. Namely, the firm is getting rid of remote work.

Tue, 24 Sep 2024 12:30:15 GMT

UAW sues Stellantis

The US United Auto Workers union has filed charges against the United States car brand owner Stellantis. UAW claims that the firm has been ignoring the agreement between the union and the firm that was made in autumn of 2023.

Tue, 24 Sep 2024 09:30:05 GMT

Scania sticks to Northvolt

Despite issues at the Swedish producer of truck batteries Northvolt, Scania has revealed that it will stick to the supplier and postpone the previously planned increased production of battery-electric trucks.

Tue, 24 Sep 2024 06:55:05 GMT

Intel receives $3 billion from US government

The US Presidential Administration has granted Intel Corporation $3 billion for the development of a Secure Enclave for microelectronics. In general, the term covers a wide array of weapon system components.

Tue, 24 Sep 2024 03:30:09 GMT

VR and AR headset demand grows

The research firm IDC has revealed that it expects the demand for virtual and artificial reality headsets to grow from 6.7 million per year to 22.9 million in 2028.

Mon, 23 Sep 2024 21:30:04 GMT

Ryanair expects less Boeing planes

The CEO of Ryanair Michael O'Leary has stated that the ongoing Boeing strike might decrease the number of new received aeroplanes in the next summer from 25 down to 20.

Mon, 23 Sep 2024 19:08:55 GMT

Gold books another new high level

The price for gold has managed to break the 2,600.00 level's resistance. By late Monday's trading, the commodity price had reached the 2,635.00 level. In the meantime, it was spotted that the 2,620.00 level was providing support. Economic Calendar Analysis On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at 14:00 GMT.

Mon, 23 Sep 2024 18:56:14 GMT

USD/JPY breaks large scale pattern

The support of the 141.70/142.00 range was enough to eventually cause a surge that broke the 143.45/143.80 zone and reached the 144.50 level. The 144.50 has held and caused another decline of the pair, as the USD/JPY looks for support. Economic Calendar On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at

Mon, 23 Sep 2024 18:37:17 GMT

GBP/USD confirms support zone

Despite the decline that was caused by the UK PMI release, the rate has found support in the 1.3250 level and the 100-hour simple moving average. The event was followed by a recovery of the rate and eventually the booking of a new high level near 1.3350. In the meantime, a channel up pattern has been spotted that has been

Mon, 23 Sep 2024 18:30:04 GMT

Chinese new home prices decline

In August, new home prices in China have declined at the fastest pace in nine years. The data indicates that stimulus measures failed to create a recovery of the real estate sector.

Mon, 23 Sep 2024 18:27:28 GMT

EUR/USD is still below 1.1200

Despite the publication of the European PMIs and sharp decline, the EUR/USD currency pair remains near the 1.1150 mark. In general, the rate still respects the resistance of 1.1200 and the support range near 1.1080. Economic Calendar Analysis On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at 14:00 GMT. On Thursday,

Mon, 23 Sep 2024 18:10:15 GMT

Gold books new high

The price for gold has managed to break the 2,600.00 level's resistance. By late Monday's trading, the commodity price had reached the 2,635.00 level. In the meantime, it was spotted that the 2,620.00 level was providing support. The ongoing surge is set to face more resistance from the 2,650.00 level, as round levels have always impacted the metal during its

Mon, 23 Sep 2024 17:41:08 GMT

USD/JPY encounters resistance at 144.50

The support of the 141.70/142.00 range was enough to eventually cause a surge that broke the 143.45/143.80 zone and reached the 144.50 level. The 144.50 has held and caused another decline of the pair, as the USD/JPY looks for support. An extension of the short term decline could look for support in the 100-hour simple moving average and the 143.00

Mon, 23 Sep 2024 17:21:36 GMT

GBP/USD reaches 1.3350

Despite the decline that was caused by the UK PMI release, the rate has found support in the 1.3250 level and the 100-hour simple moving average. The event was followed by a recovery of the rate and eventually the booking of a new high level near 1.3350. In the meantime, a channel up pattern has been spotted that has been

Mon, 23 Sep 2024 17:01:26 GMT

EUR/USD remains near 1.1100

Despite the publication of the European PMIs and sharp decline, the EUR/USD currency pair remains near the 1.1150 mark. In general, the rate still respects the resistance of 1.1200 and the support range near 1.1080. A recovery of the Euro against the US Dollar might be slowed down by the weekly simple pivot point at 1.1140 and the 100-hour simple

Mon, 23 Sep 2024 16:36:27 GMT

Euro reacts to bad PMIs

During the morning hours of Monday, S&P Global published one by one the results of the Manufacturing and Services sector Purchasing Managers Indices for European Union countries. In general, the survey results are worse than the markets expected. The gradual data releases caused a 76 point or -0.68% decline of the Euro against the US Dollar. French Flash Manufacturing PMI

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