FOREX NEWS & BLOG

EURUSD Forecast & Predictions for 2024, 2025–2026, and Beyond

EURUSD Forecast & Predictions for 2024, 2025–2026, and Beyond

October 3, 2024 3:04 pm |

The EURUSD is one of the major and most traded currency pairs in the Forex market. Traders analyze its future price not only for trading purposes but also to gauge the economic conditions of the EU and the US, along with the global market sentiment. Since the pair is widely traded, predicting its exchange rate from a long-term investment perspective can be challenging. The EURUSD exchange rate movement is influenced by interest rate differentials, inflation, unemployment rates, trade, and capital flows. At the same time, much of the pricing is related to unforeseen event risks and market sentiment changes. With… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
Marex Prime Services Taps Ex-IG Prime Exec for Dubai Push

Marex Prime Services Taps Ex-IG Prime Exec for Dubai Push

October 3, 2024 2:53 pm |

Marex Prime
Services, a division of financial services platform Marex, announced today (Thursday)
its expansion into Dubai, marking another step in the company’s Middle East
growth strategy.

Marex Ramps Up Middle East
Operations, Names Najjar to Lead Dubai Team

Moreover, the
firm has appointed Mazen Najjar, a veteran with over 12 years of experience in
financial services and prime brokerage sales across the MENA region, to
spearhead its institutional sales efforts. Najjar joins Marex after a six-year
tenure at IG Prime, where he was driving growth through product launches and
developing partnerships with B2B clients.

In his new
role, Najjar will be tasked with developing and implementing Marex Prime
Services’ regional sales strategy, with a focus on providing localized support
and tailored prime brokerage solutions to a diverse client base including
banks, hedge funds, investment managers, and family offices.

“This
strategic move strengthens our current operations and better positions us to
meet the evolving needs of our clients in the region,” Shahab Hashemi, CEO
(MENA) at Marex, commented. “Incorporating prime services to our offering
allows us to deliver more tailored and localized solutions to hedge funds,
family offices and other institutional clients.”

The
establishment of a dedicated presence in Dubai complements Marex’s existing
operations in the Middle East region and is expected to strengthen the firm’s
position in the competitive prime brokerage market.

Just
yesterday (Wednesday), Marex Group announced its agreement to acquire Aarna
Capital Limited for Middle East clearing business. Based in Abu Dhabi, Aarna
Capital provides clearing, execution and risk management solutions.

“This
is an exciting time for our prime services team, and I’m looking forward to
building on Marex’s achievements and delivering tailored prime brokerage
solutions to our clients,” Najjar himself expressed enthusiasm about his new
role.

Exec Moves

Marex has
recently made several other key executive changes. In June, the company
announced Liz Barrett as the new Group Head of HR, starting June 24, 2023.
Barrett, who brings over twenty years of experience in financial services, has
a robust background in global business operations, organizational change, and
culture initiatives. She succeeds Karen Neffar, who has left the company to
explore new opportunities.

Additionally,
in March, Marex enhanced its Group Board by appointing John Pietrowicz.
Previously serving as the Chief Financial Officer at CME Group, Pietrowicz’s
extensive background in financial markets and regulatory frameworks adds
significant value to Marex. The company noted that his deep expertise in
corporate finance, accounting, and mergers and acquisitions will help Marex
effectively manage the intricate aspects of market dynamics and compliance
demands.

This article was written by Damian Chmiel at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
USD/JPY Price Forecast 3rd October 2024

USD/JPY Price Forecast 3rd October 2024

October 3, 2024 2:45 pm |

Strategy: CCI Flashback The CCI Flashback is a trend-following strategy. This straightforward approach utilizes moving averages and has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than […]

Feed from Forexmt4indicators.com

MoneyMaker FX EA Trading Robot

read more
Kickstart the FX trading day for Oct 3 with technical look at the EURUSD, USDJPY & GBPUSD

Kickstart the FX trading day for Oct 3 with technical look at the EURUSD, USDJPY & GBPUSD

October 3, 2024 2:39 pm |

As the US session gets started the EURUSD and USDJPY are consolidating the recent moves (lower for the EURUSD and higher for the USDJPY). The GBPUSD is sharply lower after BOE’s Bailey signalled the central bank may be more aggressive with easing. In the kickstart video, I take a look at each of those currency pairs from a technical perspective.

EURUSD: The EURUSD fell sharply this week. Yesterday the price consolidated and then closed lower. Today the market moved down toward a downside target 1.10258 and found support buyers. In the text from this Kickstart video from yesterday, I wrote:

ON the downside, getting below 1.10539 – and staying below that level – would have traders looking toward 1.10258, and then the other lows from September which bottomed near 1.1000.

The low price today reached 1.10242 just below that level and has bounced. On the topside the 38.2% retracement of the move up from the August 1 lower comes in at 1.10463 and that is holding resistance.

USDJPY: The USDJPY moved sharply higher yesterday and tested the high price from last week at 146.465 near the close of the day. In the video yesterday and the text to the video, I outlined the level as a target saying:

On the top side the 61.8% retracement of the move down from the August high at 145.639 is the next target. Get above that level and opens the door toward the high price from last week at 146.51.

The actual high from last week was at 146.465. The high price stalled in that area at the close.

Today, the price action has been up and down after initially moving higher to a swing area target between 147.20 and 147.338

This article was written by Greg Michalowski at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
Yen Soars After New LDP Leader Elected. Forecast as of 30.09.2024

Yen Soars After New LDP Leader Elected. Forecast as of 30.09.2024

October 3, 2024 2:07 pm |

The new Prime Minister of Japan holds hawkish views, which will allow the Bank of Japan to continue normalizing monetary policy and contribute to the downtrend on the USDJPY pair. Let’s discuss this topic and make a trading plan. Highlights and key points Hawk Shigeru Ishida has become the new LDP leader. The Bank of Japan is in no hurry to increase the overnight rate. Extraordinary parliamentary elections may slow down the yen. Traders may open short trades at 146.1 or initiate long positions after the US labor market data release. Weekly fundamental forecast for Japanese yen The market was… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
NAGA’s Unified Website Delivers Integrated Trading, Investing, and Crypto Tools

NAGA’s Unified Website Delivers Integrated Trading, Investing, and Crypto Tools

October 3, 2024 1:51 pm |

NAGA has introduced a new website that combines trading,
investing, cryptocurrencies, and payments into a single platform called the ‘Everything Money’ hub.

By consolidating its main services, NAGA allows users to
manage their finances more easily in one place. The redesigned site aims to
provide a balance between extensive information and a user-friendly experience.
It is designed to cater to both experienced traders and newcomers.

Social Trading Connects NAGA Users

A feature of NAGA’s platform is its Social Trading
capabilities. This aspect has led to the nickname “the Facebook of investing.”
Users can follow Lead Traders, interact with them, and automatically copy their
trades in real time.

This adopts a more connected experience. Collaborative
tools are integrated throughout the platform, enabling users to share insights,
discuss strategies, and learn from each other.

NAGA also offers a modern approach to education. Users can
access video snippets in addition to traditional resources like e-books and
webinars. This allows traders to learn at their own pace and improve their
skills effectively.

Recently, the company launched its “Everything
Trading” app within Telegram, enabling users to trade directly through the
messaging platform. This feature aims to make trading more accessible in
everyday conversations. NAGA has also partnered with football club Borussia
Dortmund, enhancing its presence in the fintech industry.

Completing Merger with CAPEX

Meanwhile, NAGA
Group has completed its merger with Key Way Group, the parent company of
CAPEX.com, after receiving necessary regulatory approvals within six weeks.
This merger aims to enhance NAGA’s global presence and drive cost efficiency.

With approximately 1.5 million users in over 100 countries, NAGA Group
plans to integrate CAPEX.com’s user base into its ecosystem, offering a range
of features through the NAGA SuperApp. The group expects annual cost savings of
up to EUR 9 million by streamlining operations and leveraging technology, as
reported by Finance Magnates.

This article was written by Tareq Sikder at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
The USD is the strongest and the GBP is the weakest as the NA session begins

The USD is the strongest and the GBP is the weakest as the NA session begins

October 3, 2024 1:48 pm |

As the North American session begins the USD is the strongest and the GBP is the weakest.

In an interview with the Guardian, BOE Bailey held out the prospect of the Bank becoming a “bit more aggressive” in cutting interest rates provided the news on inflation continued to be good. Bailey also talked to the risk in the Middle East for an oil price shock. Some of the highlights:

  • The Bank of England is monitoring the Middle East crisis amid fears of an oil price shock.

  • Bailey is watching developments “extremely closely”.

  • There are limits to what can be done to prevent oil price rises if the conflict escalates.

  • Geopolitical concerns are very serious.

  • The economy has proved more resilient than expected.

  • The Bank may become “a bit more aggressive” in cutting interest rates if inflation continues to improve.

  • Inflation currently stands at 2.2%, just above the 2% target.

  • The government is right to focus on encouraging capital investment.

  • The UK faces structural issues including an ageing population, increased defence spending, and climate change.

  • Bailey defends the Bank’s response to the pandemic and global supply-chain bottlenecks.

  • He rejects criticism that the Bank left stimulus in place for too long.

The GBPUSD has tumbled lower from a high of 1.3270 to a new low in the current hourly bar at 1.3090. The range of 180 pips is much higher than the 98 pip range average over the last month of trading in the pair. Technically, the price has moved below the 38.2% retracement of the move up from the August low at 1.31396 (a close intraday risk level). Earlier in the day, the price tumbled below the 200-bar moving average of the 4-hour chart at 1.31937. The last time the price traded below that moving average was back on August 15 so breaking below was a significant shift in the technical bias.

Guiseppi Dellamotta commented that the positioning of the GBP – which was tilted strongly to the upside – certainly helped contribute contribute to the decline. You can see the liquidation in the price action (all those longs getting squeezed). The comments from the central banker were the catalyst as clearly the buyers turned to sellers.

In other economic news, Swiss PPI came in weaker -0.3% versus -0.1% expected.

Services PMI data add of the EU and UK were released with mixed results:

  • Spanish Services PMI: Actual 57.0, Forecast 54.0, Previous 54.6 – BEAT forecast
  • Italian Services PMI: Actual 50.5, Forecast 51.2, Previous 51.4 – MISSED forecast
  • French Final Services PMI: Actual 49.6, Forecast 48.3, Previous 48.3 – BEAT forecast
  • German Final Services PMI: Actual 50.6, Forecast 50.6, Previous 50.6 – MET forecast
  • Eurozone Final Services PMI: Actual 51.4, Forecast 50.5, Previous 50.5 – BEAT forecast
  • UK Final Services PMI: Actual 52.4, Forecast 52.8, Previous 52.8 – MISSED forecast

Germany is on holiday. China remains on their Golden Week holiday.

On the economic calendar today:

  • 8:30 AM ET Unemployment Claims: Forecast 222K, Previous 218K
  • 9:45 AM ET Final Services S&P Global PMI: Forecast 55.4, Previous 55.4
  • 10 AM ET ISM Services PMI: Forecast 51.7, Previous 51.5
  • 10 AM ET Factory Orders m/m: Forecast 0.1%, Previous 5.0%

A snapshot of the other markets as the North American session begins shows:

  • Crude oil is trading up $1.38 and $71.54. At this time yesterday, the price was at $72.07
  • Gold is trading down -$9.56 or -0.36% at $2648.57. At this time yesterday, the price was $2651.04.
  • Silver is trading down -$0.29 or -0.95% at $31.52. At this time yesterday, the price is at $31.44
  • Bitcoin is trading lower than this time yesterday at $60,518. At this time yesterday, the price was at $61,185
  • Ethereum is trading lower than this time yesterday at $2341.07. At this time yesterday, the price was at $2456

In the premarket, the snapshot of the major indices trading marginally lower:

  • Dow Industrial Average futures are implying a decline of-$76.25 points. Yesterday, the index gained 39.55 points or 0.09% at 42196.52
  • S&P futures are implying a loss of -6.81 points. Yesterday, the index rose 0.79 points or 0.01% at 5709.54
  • Nasdaq futures are implying a loss of -32.08 points. Yesterday, the index rose 14.76 points or 0.08% at 17925.12

Yesterday, the small-cap Russell 2000 fell -2.02 points or -0.09% at 2195.00

European stock indices are trading mixed:

  • German DAX, -0.46%
  • France CAC, -0.64%
  • UK FTSE 100, +0.30%
  • Spain’s Ibex, +0.23%
  • Italy’s FTSE MIB, -0.62% (delayed by 10 minutes)

Shares in the Japan rebounded higher after yesterday’s declines. Hong Kong Hang Seng fell the first time after six straight days of gains: China is closed for the Golden Week.

  • Japan’s Nikkei 225, +1.97%
  • China’s Shanghai Composite Index, on holiday for Golden week
  • Hong Kong’s Hang Seng index, -1.47%
  • Australia S&P/ASX index, +0.09%

Looking at the US debt market, yields are mixed to higher:

  • 2-year yield 3.662%, +2.5 basis points. At this time yesterday, the yield was at 3.616%
  • 5-year yield 3.578%, +2.7 basis points. At this time yesterday, the yield was at 3.527%
  • 10-year yield 3.807%, +2.2 basis points. At this time yesterday, the yield was at 3.760%
  • 30-year yield 4.148%, +1.8 basis points. At this time yesterday, the yield was at 4.108%

Looking at the treasury yield curve it is steady today:

  • The 2-10 year spread is at +14.6 basis points. At this time yesterday, the yield spread was +14.3 basis points.
  • The 2-30 year spread is at +48.9 basis points. At this time yesterday, the yield spread was +49.1 basis points.

In the European debt market, the 10 year yields are mostly higher:

This article was written by Greg Michalowski at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
US Dollar Showcases Old Tricks. Forecast as of 30.09.2024

US Dollar Showcases Old Tricks. Forecast as of 30.09.2024

October 3, 2024 1:43 pm |

Following a successful outcome in September, investors are keen to replicate a similar result in November. They are monitoring the comments of FOMC officials and statistics in order to ascertain the extent of the Fed rate cut. Let’s discuss this topic and make a trading plan for the EURUSD pair. Highlights and key points The PCE slowdown to 2.2% supports the Fed’s large cut. Fed centrists are concerned about the return of inflation. The S&P 500 and the ECB add to fluctuations in the EURUSD pair. The pair is inclined to trade in the range of 1.108-1.121. Weekly US dollar fundamental… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
OANDA Europe Reports £16.3 Million Turnover, Net Profit Drops to £127.8K

OANDA Europe Reports £16.3 Million Turnover, Net Profit Drops to £127.8K

October 3, 2024 1:29 pm |

OANDA Europe, the UK-based subsidiary of the OANDA brokerage
group, has released its financial results for the fiscal year ending 2023. The
company reported a turnover of £16.32 million, a slight decline from £16.85
million in the previous year.

“Despite lower market volatility in 2023, the Company
achieved similar financial performance to 2022 due to improvements in client
acquisition and retention,” the Companies House filing of the firm stated.

Financial Performance Overview

Net profit for the fiscal year was £127,831. This represents
a significant decrease compared to the prior year’s net profit of £558,492. The
profit before tax also fell from £704,581 in the previous year to £227,336.

Administrative expenses for OANDA Europe totaled £16,585,444
in fiscal year 2023. This figure reflects the company’s continuous operational
costs and represents a key component of its overall financial performance.

In light of these results, the company has expressed
confidence in its future operations: “The directors have confidence that the
Company has adequate resources to continue operations for the foreseeable
future and for a period of twelve months from the date when the financial
statements are authorized for issue.”

“Accordingly, the Company continues to adopt the going
concern basis in preparing the annual report and financial statements,” the
filing added.

OANDA Expands into UK Cryptocurrency Market

Earlier, US-based
forex broker OANDA launched OANDA Crypto, a new cryptocurrency trading
platform in the United Kingdom, as reported by Finance Magnates. The platform is
registered with the Financial Conduct Authority (FCA) and will provide various
cryptocurrency trading options for British investors.

This launch follows OANDA’s acquisition of a majority stake
in FCA-registered crypto firm Coinpass last year, allowing the company to enter
the expanding UK crypto market, which has seen increased interest.

OANDA Crypto
will enable trading in over 63 cryptocurrency pairs, including major digital
assets like Bitcoin, Ether, and Ripple. The company plans to add more tokens
and features throughout the year to meet the changing needs of crypto traders.

This article was written by Tareq Sikder at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more