A crypto platform has been built using technology familiar to forex traders, potentially injecting new capital into the market. The CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC. Get the latest news and insights straight from FXTM’s in-house market analysts. Our team explain the price movements of the global markets, giving you the in-depth https://www.dukascopy.com/swiss/english/forex/trading/ knowledge you need to place your next trade with confidence. ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage. Every journey starts with a single step and this is true of trend reversals as well. An economic announcement is rarely enough to quickly change a medium-term trend, but how the market reacts to surprises can give the first clue that sentiment is starting to shift.
By Yoruk Bahceli – Central banks are starting to slow aggressive rate rises but are far from done even as recession looms, leaving investors alert to risks that prolonged tightening could hurt Forex the economy more than necessary. Stocks fell on Monday as investors weighed positive GDP data against worries that rising COVID cases in China might disrupt consumption and manufacturing.
How to read news for trading
On the supply side, news that suggests a lower supply can push up prices, while news that suggests higher supply can depress prices, which can then impact related currencies. News that could reflect changes in supply may cover political tensions, wars, terrorism, weather, economic sanctions, labour relations and more. Speculation and pricing related to demand is mainly influenced by many of the same major news releases noted above, plus commodity inventory reports and outlooks.
- Financial ratios such as price/earnings along with dividend yields can also indicate whether a stock is a healthy investment right now.
- These currencies are often referred to as resource currencies.
- Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice.
- Many short-term traders base their decisions solely on technical analysis and price charts, regardless of which markets they are trading.
- Free market economies, sometimes shortened to just market economies, describe nations whose financial systems are largely regulated by freely moving market forces of supply and demand.
It may be more opportune to wait to open new positions after news events have taken place, and then see if the reason for the trade is still valid. By Marc Frank and Nelson Acosta HAVANA – Crisis-hit Cuba on Monday forecast economic growth of 3% for 2023 and reported 2% in 2022, half of what it had previously predicted and down 8% from the pre-pandemic level. The dollar index https://www.share-talk.com/universal-broker-dotbig-cryptocurrency-trading-opportunities/ on Friday rose by +0.05% on support from higher T-note yields. Also, mostly lower stocks Friday boosted liquidity demand for the dollar. Our goal is to provide traders with all the information and tools they need to trade successfully. Our team of professional traders has been testing Forex brokers for over 12 years and has helped millions of traders find the right broker.
Another false hope for the reversal in Bitcoin?
The broker’s partnership with Paxos will enable U.S.-based investors to spot-trade cryptocurrencies on Paxos’ itBit exchange through Oanda’s mobile platform. JP Morgan has extended its lead as top foreign exchange options dealer in the rankings for US mutual funds in the second quarter of the year. The winter is coming, and risky markets expect a rally to come with it. DotBig Web – Most big banks and investment managers expect the cryptocurrency market to pick up in 2023 after a brutal year that saw bitcoin sink around 75% from its all-time high in November last year. By Stella Qiu SYDNEY – Asian shares dipped on Monday while the dollar drifted higher at the start of a hectic week, as markets awaited a flurry of rate decisions from the U.S.
Bloomberg Markets The Close Romaine Bostick breaks down the day’s top stories and trading action leading into the close. The US dollar has found some stability following hawkish comments from Fed members, which has seen a double top pattern form on EUR/USD’s daily https://www.share-talk.com/universal-broker-dotbig-cryptocurrency-trading-opportunities/ chart. USD/CAD made a large move higher today, though it doesn’t seem like it was based on fundamentals. If Core PCE continues to fall over the coming months, the Fed may end up hiking rates less than it expects, or even cutting rates before the end of next year.
