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The country is already facing the risk of bleak demand and a vulnerable real estate sector. This has also impacted the Aussie dollar as Australia is a leading trading partner of China. Gold price (XAU/USD) drops for the first time in five days while printing mild losses at around $1,750 during early Monday. In doing so, the yellow metal bears the burden of the market’s sour https://www.forexlive.com/ sentiment, as well as the cautious mood ahead of important data and events scheduled for publishing during the week. The speech from Fed Chair, scheduled on Wednesday, will dictate the likely monetary policy action by the Fed in its December monetary policy meeting. Apart from that, United States Automatic Data Processing Employment data will be of significant importance.

We also provide fundamental analysis reports from Morningstar, as well as market commentaries and updates from Reuters news on our news and insights section of the platform. By following our news, this ensures that you are always up-to-date with the latest trends and changes within the financial markets, as well as general economic announcements. There is also the risk of carrying positions for a longer period of time. If the news release requires Forex a few days or weeks to materialise, your trading positions may be open over several days. This brings overnight risk and may require you to pay additional holding costs. Therefore, traders should ensure that they have sufficient funds in their account to cover these costs. From time to time, however, economic announcements are very different from what the broader market was expecting, and this can cause an opposite market reaction.

How to use news to trade stocks

With Trade Interceptor, you can simulate trades and backtest trading strategies using historical data. Trade Interceptor’s interface offers analysis and technical trading tools, including nearly 100 technical chart indicators. It also provides access to live, streaming price quotes and price charts, including the latest Bitcoin prices. App-based trading is now offered by most forex brokers even if you don’t have an account set up with their main platform. The daily volatility of forex markets presents attractive opportunities to capture profits. US markets are open for limited hours today, and investors are focussed on the World Cup and Black F…

forex news

Open interest in gold futures markets extended the downtrend for yet another session on Friday, this time shrinking by nearly 4K contracts according to preliminary readings from CME Group. In the same line, volume remained choppy and went down by around 49.2K contracts. Earlier on Monday, ECB Board member Knot reiterated that underlying inflation trends are worrisome, at the time when he hinted at the likelihood of potential negative economic growth in the last quarter. On the flip side, the intraday low, around the $1,746 area, now seems to protect the immediate downside ahead of the $1,736-$1,735 region. The next relevant support for Gold price is pegged near the $1,725 zone, or a nearly two-week low touched last Wednesday.

EUR/USD drops below 1.0400 as US Dollar rebounds

Therefore, you will need to make quick judgements on how to trade the announcement. Many short-term traders base their decisions solely on technical analysis and price charts, regardless of which markets they are trading. It’s common for traders to completely ignore fundamental factors and instead follow price trends, analyse support and resistance levels and weigh up various signals from technical indicators. “The OPEC+ meeting in December will take into account the condition and balance of Forex the market,” Iraq’s state news agency quoted Saadoun Mohsen, a senior official at the country’s state oil marketer , as saying on Saturday. Elsewhere, the talks among the members of the Group of Seven Nations and the European Union continue to drag on the Russian oil price cap. As per the latest updates, the $65 per barrel is the sticking point as discussions are likely to resume on Monday. Intensifying anti-locking protests have raised concerns about growth prospects in the Chinese economy.

  • It also provides access to live, streaming price quotes and price charts, including the latest Bitcoin prices.
  • News related to market sentiment can also influence currency trading, particularly those considered to be safe havens, including the commodity gold, as well as major currencies USD, JPY and CHF.
  • Gold price reverses an intraday dip to the $1,746 area and climbs to over a one-week high during the first half of the European session.
  • This, along with a big divergence in the monetary policy stance adopted by the Federal Reserve and the Bank of Japan, could help limit any further losses, at least for the time being.

The virus woes in China escalated and joined the protest against the government’s Zero-Covid policy to add to the market’s pessimism, which in turn exerted downside pressure on the Gold price. China’s https://pvplive.net/dotbig-forex-broker-review/ coronavirus concerns, cautious mood ahead of the key data, events weigh on Gold price. AUD/USD remains muted on a negative growth in Retail Sales as China’s Covid-inspired risks carry enough weight.

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