FOREX NEWS & BLOG

Major European shares close marginally higher

Major European shares close marginally higher

December 18, 2024 6:01 pm |

The major European indices are closing the day marginally higher. The gains were led by the France’s CAC, Spain’s Ibex and Italy’s FTSE MIB.

The final numbers show:

  • German DAX, +0.07%
  • France’s CAC +0.26%
  • UK’s FTSE 100 +0.05%
  • Spain’s Ibex +0.26%
  • Italy’s FTSE MIB +0.25%

As London/European traders had for the exits, and the Fed rate decision is forthcoming, the major US indices are also marginally higher on the day:

  • Dow industrial average +0.37%
  • S&P index +0.21%
  • NASDAQ index +0.19%
  • Russell 2000+0.24%

A rising the Dow industrial average today would be the first after nine straight days of declines (largest string since 1978).

Looking at the US debt market, yields are mixed:

  • 2-year 4.234%, -0.7 basis points
  • 5-year yield 4.255%, +0.7 basis points
  • 10 year yield 4.402%, +1.8 point basis points
  • 30 year yield 4.600%, +2.1 basis points

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

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AUDUSD sellers are pushing to new lows after a support floor is broken. What next?

AUDUSD sellers are pushing to new lows after a support floor is broken. What next?

December 18, 2024 5:55 pm |

Earlier today in the Asian session the low of a swing area floor going back to the end of 2023 was broken at the 0.6334. That break, turned buyers to sellers and the price has continued that fall in the US session today.

The swing area starting at 0.6334 up to 0.6363 is now close risk. Staying below keeps the sellers in firm control. Move above and there will likely be more upside probing on the failed break. The 100 hour MA at 0.63538 is another level to get above that sits within the swing area from the daily chart.

On the downside, the next target area comes between 0.62698 and 0.6284. That too is a swing area on the daily chart going back to 2022 and end of 2023. Moving below that level is needed to increase the bearish bias even more and have traders looking ultimately toward the 2022 lows at 0.61738.

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

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“More Returning Investors Signal the Maturity of the Industry”: eToro’s Daniel Moczulski

“More Returning Investors Signal the Maturity of the Industry”: eToro’s Daniel Moczulski

December 18, 2024 5:50 pm |

“This one seems to be a lot of returning
investors. So, we are not seeing the new accounts that we may have
seen in the past. But I think that is an indication of the maturity of the
asset in that it’s not something now that people are coming too fresh,” Daniel Moczulski, eToro’s Managing Director for the UK, commented concerning the crypto bull market.

Cryptocurrencies, led by Bitcoin, have recorded impressive performance since early November. This has resulted in heightened
activities among companies providing digital asset services.

Speaking to Yam Yehoshua, Finance Magnates’ Editor-in-Chief during the Finance Magnates London Summit (FMLS:24), Moczulski highlighted that the wave of returning digital asset investors signaled the maturity of the digital asset space.

Post-US Election

Post-US elections, interest in crypto investments also
skyrocketed, with eToro experiencing a high influx of activity. “Since the US elections, it has exploded in ways that it did before. So, the appetite
for buying and holding crypto this week is very different from four weeks ago,” he
said.

Moczulski also observed that there is a heightened
appetite for crypto assets, reflecting how seasoned participants are reigniting
their interest in digital assets. This influx has kept eToro, a platform
reportedly boasting 38 million users globally, busier than ever.

UK’s Demand for Crypto

The UK market stands out for its enthusiasm for
cryptocurrency. Moczulski highlighted how the demand for crypto
investments in the region consistently outpaces that of other European countries.

“What is clear is the UK has a real appetite for
crypto. I also managed the German office. But the UK really does reflect the
price of crypto, you can see. There’s more demand for holding it than I’ve seen
in other European countries.”

Reflecting on eToro’s collaboration with Twitter,
Moczulski underscored the synergy between the two platforms. Twitter’s role as
a go-to source for breaking financial news aligns seamlessly with eToro’s
vision of social trading, he said.

Predictions for 2025

When asked about future trends, Moczulski predicted
that crypto and artificial intelligence will remain dominant narratives. He
hinted at potential market shifts driven by policy changes. However, he admitted that the broader story remains one of continuity rather than radical change.

For brokers, staying relevant will hinge on
understanding evolving investor preferences. The key is constantly
understanding what people want to trade, Moczulski said, emphasizing the
importance of transforming emerging interest into actionable investment
opportunities.

“So I think having a constant finger on the pulse
of what people want to invest in, what people are talking about, what they want
to trade, and being able to convert that to that kind of latent demand
into actually kind of used demand on your platform, where people can engage
with that particular asset.”

Financial Industry Evolution

Reflecting on events like the FMLS:24, Moczulski signaled that the industry has grown in its sophistication. Once perceived as
speculative, the market now leans toward a more mature financial focus.

“Clearly, it’s a great summit, and clearly, it’s an opportunity for the market really to reflect the sophistication and the maturity of where we’ve been. This is very different than how it was 15 years ago. I think we’re getting more sophisticated. I think the market is turning more financial than, perhaps initially, it might have been a bit more gambling focused,” he said.

Moczulski values the human connection fostered by
in-person industry events. While eToro’s operations are largely digital, he concluded by acknowledging the importance of engaging with peers face-to-face.

This article was written by Jared Kirui at www.financemagnates.com.

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EURUSD sellers pushes to the downside ahead of the FOMC rate decision

EURUSD sellers pushes to the downside ahead of the FOMC rate decision

December 18, 2024 5:40 pm |

The EURUSD is moving to a new low on the day and in the process is moving away from the 200 hour MA and the 100 bar MA on the 4 hour chart. Those MAs come in at 1.0514 and 1.0522 respectively.

Into the FOMC rate decision and moving above that area is needed to increas the bullish bias. If so, the next topside target would come in at the 38.2% of the November trading range at 1.05628. Move above that ans the 200 bar MA on the 4-hour chart comes in at 1.05825, followed by the high swing area between 1.05926 and 1.06.097.

That would be the steps for a more bullish move in the EURUSD (a lower USD).

On the downside – which is the dominant bias – the low of the up and down swing area comes in at 1.0448 to 1.0461. Move below that area would target the swing low from November 26 at 1.0424. Below that the 1.0405 is the 50% of the range in the EURUSD since the 2022 low. Move below that, and the low from 2024 comes in at 1.0332.

Technical Analysis: EUR/USD

  • Resistance Levels:

    • 200-Hour Moving Average (MA): 1.0514.
    • 100-Bar MA on the 4-Hour Chart: 1.0522.
      • A move above this range is required to increase the bullish bias.
    • Next Targets Above:
      • 38.2% Retracement of November Range: 1.05628.
      • 200-Bar MA on 4-Hour Chart: 1.05825.
      • Key Swing Area: 1.05926 – 1.06097.
        • A move through these levels would confirm a stronger bullish reversal.

  • Support Levels:

    • Swing Area Low: 1.0448 – 1.0461.
      • A break below would increase bearish momentum.
    • November 26 Swing Low: 1.0424.
    • 50% Retracement of 2022 Low Range: 1.0405.
    • 2024 Year Low: 1.0332.
      • Further downside targets emerge if these levels are broken.

  • Market Bias:

    • The dominant bias remains bearish, with the pair trading below both the 200-hour and 100-bar MAs.
    • Bulls need to reclaim 1.0514 – 1.0522 to shift momentum, with further gains contingent on breaking higher resistance levels.
    • Sellers maintain control as long as the price remains below these key moving averages and swing levels.

  • Key Focus:

    • Watch for a break above 1.0514 – 1.0522 for potential bullish developments.
    • Monitor support at 1.0448 – 1.0461 and below for further bearish confirmation.

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

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EIA weekly US oil inventories -934K vs -1635K expected

EIA weekly US oil inventories -934K vs -1635K expected

December 18, 2024 5:34 pm |

  • Gasoline +2348K vs +2060K exp
  • Distillates -3180K vs +661K exp
  • Refinery utilization -0.6% vs -0.2% exp

Private oil data released late yesterday:

  • Crude -4700K
  • Gasoline +2400K
  • Distillates +700K

Ahead of the data, WTI crude oil was up 82-cents to $70.90, having erased all of the decline on Tuesday.

This article was written by Adam Button at www.forexlive.com.

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CySEC Puts All Compliance Tools in One Digital Hub with New Website

CySEC Puts All Compliance Tools in One Digital Hub with New Website

December 18, 2024 5:17 pm |

The Cyprus Securities and Exchange Commission (CySEC) unveiled
a new website designed to improve the experience of regulated firms, investors, and the public.

According to the regulator, the updated platform is a
significant step towards increasing accessibility, transparency, and user
convenience for all those interacting with the regulator. The new website showcases a new design that is reportedly adaptable to smart devices. Users will notice a streamlined interface with intuitive navigation tools that enhance the site’s overall usability.

Upgraded Search Tool

One of the features is an upgraded search tool that enables
users to locate information on regulated firms, past and present, quickly. It also includes a centralized hub, which reportedly
serves as a one-stop resource for regulated entities and other stakeholders.
This hub enables users to access important registries and portal systems to submit information directly to CySEC.

Commenting on the new design, Dr. George Theocharides, the Chairman of CySEC, said: “The redesigned website marks the first phase of our efforts to enhance the user experience and deliver an improved user-friendly navigation and functionality for supervised entities, investors, and the public in general.”

“A key driver was our determination to become a more
accessible and sustainable regulator. Future phases of upgrades are planned to
meet the evolving needs and expectations of CySEC’s website users”

The regulator mentioned that the enhanced
centralization of resources will make it easier for firms to comply with
regulatory requirements, improve efficiency, and reduce administrative
hurdles.

Special News Section

CySEC has also introduced a special news section on
the website. It includes press releases, media statements, videos, and event
updates designed to provide users with more transparency about the regulator’s
work.

Through this area, CySEC aims to keep stakeholders
informed about recent developments, ensuring a clear line of communication
between the regulator and the public.

Dr. Theocharides emphasized the regulator’s commitment to improving accessibility. He further noted that the website upgrades are ongoing, with future phases planned to meet users’ evolving needs.

This article was written by Jared Kirui at www.financemagnates.com.

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Major US stock indices open little changed

Major US stock indices open little changed

December 18, 2024 4:56 pm |

The major US stock indices are opening little changed on the day. Yesterday, the major indices all fell with the Dow industrial average falling for its ninth consecutive day – mainly on the declines from UnitedHealth and Nvidia over that period which saw their prices decline by over 20% and over 10% respectively.

A snapshot of the major indices currently shows (2 minutes into the open):

  • Dow industrial average up 66.82 points or 0.15% at 43516.72.
  • S&P index -3.3 points or -0.05% at 6047.31.
  • NASDAQ index -25.52 points or -0.13% at 20083.54

The small-cap Russell 2000 is up 11.89 points or 0.51% at 2345.97.

  • Nvidia, +2.74%
  • Microsoft, -1.33%
  • Amazon, -0.74%
  • Meta, unchanged
  • Alphabet, -0.64%
  • Apple, -0.49%
  • Tesla, -3.32%

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

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Semiconductor surge: Nvidia leads gains while Tesla tumbles

Semiconductor surge: Nvidia leads gains while Tesla tumbles

December 18, 2024 4:40 pm |

Today’s market snapshot reveals a mixed bag of performances across various sectors, with standout movements in semiconductors and automotive industries. Investors can leverage these developments to fine-tune their strategies.

📈 Semiconductor Surge

The semiconductor sector is showing notable strength today, led by Nvidia (NVDA) with a robust gain of 2.33%. This uptick underscores renewed investor confidence, possibly fueled by positive industry forecasts or advancements in technology driving demand.

  • Micron Technology (MU) also shines, posting a 1.29% increase, further indicating solid sector momentum.
  • Conversely, Broadcom (AVGO) dips by 1.12%, highlighting some volatility within the sector despite overall gains.

🚗 Automotive Concerns

In consumer cyclical, the automotive sector faces headwinds. Tesla (TSLA) notably slumps by 2.75%, potentially reflecting investor concerns about production challenges or market competition.

🌐 Communication Services Steady

Meanwhile, the communication services sector remains resilient. Google (GOOGL) shows a modest rise of 0.76%, signaling steady investor confidence amid tech market fluctuations.

  • Meta (META) also contributes positively with a 0.21% increase.

🏦 Mixed Financial Sector Dynamics

The financial sector presents a mixed picture. JPMorgan Chase (JPM) edges up by 0.14%, whereas American Express (AXP) sees a slight decline of 0.27%, reflecting varying investor sentiment across financial services.

📊 Overall Market Sentiment

The broader market snapshot highlights investor caution, with mixed performances across sectors signaling ongoing uncertainty. While semiconductors exhibit strong potential, continued vigilance is advisable.

💡 Strategic Recommendations

Given today’s insights, investors should consider capitalizing on the upward trends within the semiconductor sector while staying cautious of volatility in consumer cyclicals. Keeping a diversified portfolio and monitoring real-time market shifts can aid in navigating these dynamics.

Visit ForexLive.com for detailed market analyses and updates, empowering your trading and investment decisions.

This article was written by Itai Levitan at www.forexlive.com.

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T4Trade Makes Trading Accessible to Everyone, Everywhere

T4Trade Makes Trading Accessible to Everyone, Everywhere

December 18, 2024 4:39 pm |

As traders grow more financially literate, brokers must continue to innovate to remain relevant. T4Trade, a leading CFD brokerage firm, has successfully managed to meet the preferences of traders of all levels and remain top of mind.

With an accommodating trading environment spanning web-based, desktop and mobile trading, as well as a powerful TradeCopier copy trading platform, the broker provides a wide assortment of trading options across devices.

Its asset range spans 500+ instruments and a diverse selection of CFDs on Forex, shares, indices, commodities, metals, and futures, allowing traders to conveniently build and diversify their portfolios.

Whether they prefer to trade from a web browser, the security of their personal PC or mobile phone, traders will enjoy the same outstanding experience.

Going the extra mile from ensuring maximum uptime, data security, and accessibility to financial opportunities, T4Trade provides a robust and versatile environment that fosters growth.

A match for every trading style

The entire T4Trade infrastructure is based on the industry-standard MT4 trading platform, which makes it suitable for all traders, regardless of their trading style.

Known for its reliability and user-friendly interface, the platform is compatible with any operating system, from Windows and MAC OS to Android.

With a vast array of indicators, from MACD to RSI, Fibonacci and beyond, the MT4 has everything traders need to analyse the markets, manage and adjust their positions according to shifting market trends, as well as execute orders in real time.

As regards execution, T4Trade takes pride in offering high execution speed and minimal slippage, meaning that all orders are processed without delay. This enables traders to execute any strategy with greater confidence.

Since it entered the fintech space in 2005, MetaTrader 4 has quickly become the go-to trading platform amongst traders of all levels of experience. Equipped with advanced features, the platform has all the functionalities required to navigate Forex trading.

The algorithmic trading capabilities and Expert Advisors (EAs) add to the platform’s appeal, making it an essential resource for professional traders and Strategy Providers.

A sleek WebTrader

T4Trade’s MT4 platform can be accessed from any web browser in a few clicks, without the requirement of a single download.

The functionality of the WebTrader supports a variety of trading possibilities, including one-click trading, whereby traders can open and close trades in a matter of sub-seconds.

The ability to set stop and entry limits, place direct orders, set and adjust limit and stop loss orders, alongside advanced charting capabilities and customised charts are also among the key advantages that T4Trade’s WebTrader gives traders.

In addition, the platform provides accessibility to real-time market data and enhanced security for secure transactions, contributing to the overall superior trading experience.

Sharing in the success of experts

Trading can be as exciting as it can be daunting, especially for beginners. T4Trade opens a world of opportunities for novice traders with its TradeCopier platform.

Enabling traders to replicate the strategies of top-performing traders at the click of a button, TradeCopier gives everyone a fair chance at trading. Fostering knowledge-sharing, TradeCopier is the ideal solution for both Strategy Followers and Strategy Providers.

Its flexible interfacing capabilities offer a unique blend of convenience, trade automation and advanced risk management that strategy followers look out for, and an intuitive system to backtest, optimise, and launch strategies that Strategy Providers need.

Promoting a transparent approach to copy trading, the platform’s leaderboard overtly features each strategy’s risk score, drawdown, P&L, and other key data to support traders’ decision-making. This allows for quick portfolio diversification and learning how to trade by copying the trades of experts.

Strategy Providers are not overlooked either. In addition to advanced tools allowing them to easily launch their strategies, TradeCopier offers them the opportunity to share their strategies with a growing community of Followers and generate new income streams.

The T4Trade edge

With a technology suite that meets every trader’s demands, from novices to the most sophisticated strategy developers, T4Trade stands out as a one-stop venue for Forex trading growth.

Promoting a user-centric design across all its trading platforms, the reputable broker provides traders with multiple perks, such as:

● Real-time data to assist them make informed decisions and spot trends with more precision

● Superior charting tools for easy chart customisation and technical analysis

● The ability to set “Push” notifications keeping traders on the pulse with the latest market news and trends

● Educational resources tailored for every stage of the trading journey. From webinars, videos on demand, and eBooks to market analysis, traders will find a vast array of resources needed to enhance their knowledge.

Available in multiple languages, T4Trade’s platforms and services are available to traders worldwide. Gaining traction within the trading community thanks to their comprehensive features and low-latency order execution, the brokers’ state-of-the-art platforms provide a secure environment where traders can thrive.

To explore T4Trade’s technology and familiarise yourself with its platforms’ advanced features, visit the website.

T4Trade, with registered address of F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, is a trade name of Tradeco Limited. The Group includes Damadah Holding Limited with registered address at 365, Agiou Andreou, Efstathiou Court, 2nd Floor, Flat 201, 3035 Limassol, Cyprus.

Tradeco Limited is authorised and regulated by the Seychelles Financial Services Authority with licence number SD029.

All trading involves risk. It is possible to lose all your capital. You should consider whether you can afford to take the high risk of losing your money.

This article was written by FM Contributors at www.financemagnates.com.

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