Wednesday briefing: From DXY, Gold to Latest FX Headlines; Nov 02, 2022
US Dollar Index Overview
U.S. dollar rises as Fed likely doing another big hike; sterling sinks
The dollar gained across the board on Monday, regaining some of the luster it lost earlier in the month, bolstered by expectations of another supersized rate increase at this week’s Federal Reserve monetary policy meeting.
Tuesday Briefing: From DXY, Gold to latest FX Headlines; Nov 01, 2022
US Dollar Index Overview
Mohicans markets：11.02-European perspective
On Wednesday (November 2), Beijing time, in the morning of Asian market, spot gold fluctuated in a narrow range. At present, the trading volume is around 1650.63 US dollars/ounce. This trading day will usher in "small non farm" - the US ADP employment data and the US Federal Reserve interest rate resolution.
Mohicans markets：MHM Today News
On Tuesday (November 1), the dollar index fell below 111, closing 0.036% lower at 111.56, as the market expected the Federal Reserve to indicate that the pace of interest rate increase would slow down from December. The euro rose 0.7% against the US dollar and broke through 0.99, but the US stock market missed this threshold and gave up all its gains. The British pound rose nearly 100 points against the US dollar at one time, but failed to reach the 1.15 mark in intraday decline.
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Plus500 Ltd, a retail Forex and CFD broker, said today that it would launch a fresh share repurchase program worth up to $602 million.
NZD/USD leads the bulls as US dollar, yields retreat ahead of Fed
Global markets turned surprisingly optimistic during early Tuesday as a pullback in the US Treasury yields joined chatters about a slower Fed rate hike from December. With this, the US dollar prints the first daily loss in four, which in turn adds strength to the rebound in prices of commodities and Antipodeans.
AUDUSD holds mild gains even as markets turn cautious ahead of key central bank meetings
Global markets appear dicey as traders await the all-important central bankers amid fears that the neutral rate is near. The risk profile appears somewhat blurred even as stock futures drop and the yields grind higher.
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Mohicans markets：11.01-MHM European Market
On Tuesday November 01, Beijing time, in the early afternoon of the Asian market, spot gold bottomed out and rebounded. Earlier, it gained support near the 1630 gate. At present, it is trading near 1641.56 dollars/ounce. Asian stock markets generally rose, which depressed the demand for safe haven purchases in the U.S. dollar.
Mohicans markets：MHM Today’s News
On Monday (October 31), the "mouthpiece of the Federal Reserve" issued another document, triggering hawkish expectations of interest rate increases. The dollar index rose back to 111, closing 0.822% higher at 111.6. However, the dollar index still fell 0.5% in October. EURUSD fell to below 0.99; Sterling fell more than 1% against the US dollar, falling below the two thresholds of 1.16 and 1.15; USD/JPY continued to rise close to 149.
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Effects of Quantitative Easing on Foreign Exchange Movements
Most currency trading is done by banks, either on their own behalf or on behalf of customers. They also trade with counterparties, which could be other financial institutions or non-financial organizations. 89 percent of currency trading occurs through the dollar, which is used as a vehicle currency. For example, if you want to go from the Malaysian ringgit to the South African rand, you must pass through the dollar.
Tempted To Buy The Dip On Tech Stocks? FOMC Will Reveal If It Is Time
Fed officials are planning towards another interest-rate rise of 0.75 percentage points at their coming meeting this week and are likely to debate then whether and how to signal plans to approve a smaller increase in coming meetings if inflation shows a sign of moderating.
OANDA Japan's USD/SEK Margin Requirements Have Changed
The Japanese branch of OANDA Corporation, OANDA Securities, will change the margin rates for the USD/SEK currency pair.
GemForex - weekly analysis
European Central Bank under enormous pressure ahead of Fed rates
Mentor In Forex Trading And The Advantages Of Using Them
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Mohicans markets：MHM-10.31 European Overview
In early Asian trading on Monday (October 31) Beijing time, spot gold fell slightly in shock, and the current trading volume is around 1642 US dollars/ounce. The US consumer spending growth in September released last week exceeded expectations, while the core inflation pressure is still high, basically locking in the Federal Reserve will continue to raise interest rates by 75 basis points this week.
Mohicans markets：MHM Today News
Last Friday, October 28, the US dollar index failed to recover from the 111 level, rising 0.09% slightly to 110.69, falling for two weeks in a row. After the Bank of Japan's resolution was announced, the yen fell more than 1% in the session, and the dollar broke through 147 against the yen. The pound fell first and then rose against the US dollar to close above 1.1610, up 0.4% during the day.
Forex Trading In 2022, Is It Still Worth To Do Or Not?
Forex tradingis trading or foreign exchange transactions or foreign exchange to a number of destination countries with business and tourism interests, and getting profits. So it's not surprising that many people want to do forex trading because it promises a lot of profit.