Germany’s economy contracted -5% during 2020 according to the final GDP statistics published on Thursday morning. The contraction beat the news agency forecasts which predicted a metric of up to -5.7%. The negative reading is entirely due to the COVID-19 virus, and for context, Germany only chipped in with 0.6% GDP growth in 2019. The […]
Two high impact economic data affected the value of USD during the trading sessions of Wednesday 13. Inflation (CPI) came in at 1.4% annually due to a 0.4% rise month on month, an 8.4% gasoline cost rise for consumers was the main driver for the increase. The Federal budget balance beat the forecasts made by
US inflation rises as does the US government deficit, USD rises consequently Read More »
The US dollar fell versus most of its peers during the Tuesday, January 12 trading sessions. The dollar index (DXY) gave back most of the gains recorded so far during 2021 to end the day trading -0.39% down but up 0.21% year-to-date. In a negatively correlated trading pattern, cable (GBP/USD) traded up 0.91% as the
USD slips versus its peers, as GBP/USD approaches the two-year high printed last week Read More »
Forex trading can feel haphazard and chaotic at times. You can quickly eliminate these potential negative influences by exercising both self-control and trading control wherever and whenever you can. You can achieve this objective by applying a basic system of rules to your decisions. As individuals, we crave security, certainty, routine and control in many
Letting your profits run might be a flawed forex trading strategy Read More »
US equity indices fell from last week’s record highs, apparently due to investors finally beginning to question quoted firms’ fundamental valuations as analysts start to audit earnings during the approaching earnings’ season. The SPX 500 fell by -0.52% and the DJIA 30 only -0.29%. These are modest falls relative to the record-breaking streak all major
COVID-19 will continue to dominate the headlines over the next few weeks. Several countries have reverted to versions of the strict lockdowns they first implemented in March and April 2020. However, the US, UK and European nations are pinning their hopes on the success of mass vaccination to eradicate the virus from global society. The
Equity markets and USD appear primed to rise during the coming week Read More »
The primary US equity markets, the SPX 500, DJIA 30 and NASDAQ 100 all printed record highs during the first week’s trading of 2021. The reasons were various: the Biden-Harris inauguration approaching, the Senate run-off providing more certainty to the government and law-making process, and progress on vaccine development, although the vaccine rollouts worldwide still
The NASDAQ 100 rose by 2.35% during Thursday’s New York session, coming close to a record high and threatening to breach the 13,000 round number level for the first time in its history. The SPX 500 printed a record high, breaking through the 3,800 level-handle for the first time and trading 1.51% up at 3804.
US equity markets print record highs, taking the US dollar with them Read More »
When you initially discover forex trading charts, you’ll see candlesticks as the default setting on various timeframes. Candlesticks are classed as the gold standard of price display when you trade markets. When you trade FX, you need a method to illustrate what price is doing, has done and where it might be headed, and it
Consider using Heikin-Ashi bars if you’re struggling with standard candlesticks Read More »
UK stocks closed 3.47% up on Wednesday, January 6 after energy and banking stocks rose considerably due to the recent OPEC agreement restricted oil production and post-Brexit optimism for the banking sector. The Markit services figure rising to 49.4 for December also helped to support the bullish sentiment. Because of the FTSE 100 rise, GBP/USD
