Author: fx-dealer

Current market overviewDespite the lack of clear directional movement, the pair’s behavior is not without significance. It suggests a period of consolidation, potentially setting the stage for a more pronounced trend in the future. For those with an adept understanding of technical analysis, this sideways pattern may serve as a precursor to a breakout, offering…

Glencore’s adjusted earnings forecastGlencore has revised its long-term full-year marketing EBIT forecast for the year, adjusting it to a range of .3 billion to .5 billion. This is an increase from the previous prediction of .2 billion to .2 billion. The adjustment follows Glencore’s completion of the Viterra agribusiness sale in July, which notably contributed…

Iron ore price decline and supply dynamicsRio Tinto’s management has highlighted that this strategic pivot not only aligns with global trends favoring sustainability and decarbonization but also positions the company to deliver long-term value for its shareholders. The focus on copper is expected to complement Rio Tinto’s existing operations and create new growth avenues, ensuring…

Break of 55 4H EMAUnderstanding the significance of these levels can aid in making informed decisions, influencing positions and risk management strategies. This correction phase is a critical juncture, offering both challenges and opportunities for traders navigating the forex market. Conversely, a break above the minor resistance at 0.8684 would indicate a shift back to…

Bank of Canada maintains overnight rateMoreover, the elevated core inflation suggests that some price pressures are becoming entrenched, making it more challenging to bring inflation back to the desired level. This persistent inflationary environment poses a dilemma for policymakers, as they strive to balance the need to support economic growth while ensuring price stability. The…

Trade balance insightsCapital Goods exports managed a modest increase of The most significant drop in exports was within the Industrial Supplies category, which fell by .7 billion, an 8.65% decline. This sharp decrease may reflect reduced global demand or adjustments in inventory strategies by international buyers. Conversely, other export categories experienced growth. Foods, Feeds, &…

Retail inventory trendsIn the context of the broader economic landscape, other factors such as consumer spending patterns, inflation rates, and international trade conditions are likely to exert a more substantial influence on market movements. The retail inventory figures, while integral to understanding sector-specific health, may not alone drive significant market shifts at this time. Investors…

Inflation stabilization in the euro areaWhile the ECB remains vigilant, it has expressed readiness to adapt its policies should economic conditions shift unexpectedly. Forex traders should remain attentive to any announcements or signals from the ECB that might hint at future policy adjustments. Such insights could provide valuable foresight into market movements, allowing traders to…

Currency market movementsPres. Trump took to Truth Social to deny rumors that he was “seeking” a summit with Xi. He is not, but might visit China at Xi’s invitation, which has been extended, highlighting the ongoing diplomatic engagements amidst trade negotiations. Unchanged vs JPY Up 0.05% vs GBP Up 0.12% vs CAD Up 0.14% vs…

Central bank policies and market expectationsThe upcoming US economic reports, including the Job Openings and Consumer Confidence Index, are expected to reflect the current economic climate influenced by trade dynamics. As both countries navigate these complex negotiations, the market remains attentive to any shifts that could impact the global economic landscape.US-China trade negotiations and economic…