China Data Falls, Dollar Recovers and Other Majors are Affected
The short-term downward pressure faced by the Chinese currency does not point to further depreciation space in light of China's economic recovery pace, experts said.
Rollover Notification in June
Please refer to the table below, for the rollover date of our futures on the trading system during June,
Asia FX inches higher on bets of Fed pause, debt ceiling progress
Most Asian currencies advanced on Thursday, while the dollar inched lower tracking comments from Federal Reserve officials touting a potential pause in the rate hike cycle in June.
June 1, 2023-MHM European Perspective
On Thursday (June 1), spot gold narrowly oscillated during the Asian session, and is currently trading near $1961.77 per ounce.
June 1, 2023 - Fundamental Reminder
On Wednesday, after the release of the Chicago PMI data, which was significantly weaker than expected, spot gold pulled up briefly on the $1,970 mark, then gave back some of its gains due to stronger U.S. employment data to close up 0.18% at $1,962.67 per ounce.
Forex Trading 101: The Ultimate Guide to Backtesting Forex Strategies
The process of developing a strategy for forex trading is similar to painting a canvas. Similar to an artist who sketches out their vision, traders begin by sketching out their strategies and refine them over time. Backtesting forex serves as the initial sketch of your trading canvas. Nonetheless, backtesting cannot guarantee future success. Essentially, it gives you a sense of how your strategies may work in action!
May 31, 2023-MHM European Perspective
On Wednesday (May 31), spot gold narrowly oscillating during the Asian session, and is currently trading near $1963.10 per ounce. U.S. bond yields continued to weaken to a new low of more than a week, providing support to gold prices, but supported by the market's expectations of the Federal Reserve rate hike in June, the dollar support to maintain the strength, so that the gold price gains are limited.
May 31, 2023 - Fundamental Reminder
On Tuesday, boosted by the dollar and U.S. bond yields fell, spot gold fell before rising, intra-day gains once expanded to 1%, above the $1960 mark, and finally closed up 0.82% at $1958.83 per ounce. Spot silver rebounded relatively weakly, eventually closing down 0.04% at $23.18 per ounce.
USD/INR PRICE NEWS: RUPEE BEARS APPROACH 82.80, INDIA GDP
USD/INR remains on the front foot for the third consecutive day even as it clings to mild gains around 82.70 amid early Wednesday in Europe. In doing so, the Indian Rupee (INR) pair not only justifies the US Dollar’s latest strength but also portrays the market’s cautious mood ahead of the Indian Gross Domestic Product (GDP) for the first quarter (Q1), as well as the US House voting on the debt-ceiling extension deal.
USDCLP Market View
Alternatively, the dollar index held above 104 pts on Tuesday, near its highest levels in ten weeks, supported by strong economic data from the United States that reinforced expectations of further policy tightening and the news of that a tentative debt ceiling agreement was reached over the weekend.
There is No Sustainable Strength in the USD at the Present Time - Commerzbank
Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 26,000 corporate client groups and just under 11 million private and small-business customers in Germany. As market expectations regarding US key rates have moved upwards, Commerzbank's economists examine the outlook for the USD and discuss what could have been.
Morning Briefing 31 May 2023: Gold Rises on Debt Ceiling Vote
US Consumer Confidence fell to 102.3 from an upwardly revised 103.7 in April 2023.
DAX 40 & DOW JONES: weekly analysis 29th May – 2nd June
The week ends with the stock exchanges strongly biased upwards, thanks to Nvidia’s quarterly earnings, which brought back optimism in the markets. Despite some negative events, such as Germany entering a recession or the contradictory macro data in the USA, the market is anticipating the end of the FED’s tightening cycle and therefore it is positioning itself in accordance with it.
Asian markets looking to open lower after mixed US session
Major US indices finished mixed in the US Tuesday session with AI-mania propping up the Nasdaq to a green finish while continuing debt ceiling jitters kept risk appetite muted for the broader market.
MHMarkets is bout to open in Mandalay, Myanmar in September!
Mandalay, May 28 - MHMarkets, the world's leading currency and CFDs broker, has successfully held a high-profile press conference in Mandalay, Myanmar, recently.
What is The Federal Reserve? How the Fed Controls USD Value
In a world where economies ebb and flow like tides, a powerful institution holds the keys to the kingdom of money. Nestled in the heart of the United States, the Federal Reserve looms as a force to be reckoned with, shaping the very fabric of the global financial landscape. But what exactly is the Federal Reserve, and how does it exert its influence over the value of the almighty U.S. dollar and the broader global economy? Let’s explore it in great depth!
YELLEN EXTENDS EARLIEST POTENTIAL US DEFAULT DATE TO JUNE 5
It was reported that the US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country's $31.4 trillion debt ceiling.
USD/JPY Drops Sharply Near 140.00 as USD Index Faces Sell-off ahead of US Employment Data
The USD/JPY pair has slipped vertically near 140.00 in the Asian session. The downside movement in this asset was supported by a heavy sell-off in the US Dollar Index (DXY). Investors have cut long positions in the USD pair.
Inflation in Tokyo Slows Down in May, Still Must Set Forex Exchange Rates
On Friday, Japan's Finance Minister, Shunichi Suzuki, said that the market should set currency exchange rates according to economic fundamentals. He made this statement after the Yen fell to its lowest level in six months against the dollar.
EUR/USD Turns Red Below 1.0800 As Dollar Gains Momentum
The Euro started a fresh decline from well above 1.0800 against the US Dollar. EUR/USD traded below 1.0800 and 1.0780 to move into a bearish zone.