GDP, employment, and inflation data this week just made the BoE’s job a whole lot harder. That’s potential bad news for GBP/USD, which rode high on a hawkish BoE at the turn of this year. We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable https://www.ig.com/en/forex/what-is-forex-and-how-does-it-work traders. We’re also a community of traders that support each other on our daily trading journey. The US earnings season kicks off in earnest this week with several major US banks reporting. Analysts are forecasting overall revenues at the banks to fall around 10% with a 26% drop in investment banking fees.
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- This is a good option to buy if you actually have a view on whether the number will be stronger or weaker than the market’s consensus forecast.
- Keep in mind, when the EUR/USD rate falls, the U.S. dollar is going upward, and vice versa.
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If you’re gutsy enough to trade a euro pair during this top-tier event, better check out this break-and-retest setup on EUR/NZD. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Due to a migration of services, access to your personal client area is temporarily disabled. Speaking of the dollar, it has appreciated against most G10 currencies since the start of 2022. US inflation is expected to have hit another 40-year high in March.
Bitcoin price is positioned at a level that is likely to result in a quick run-up to key levels. On-chain metrics are hinting at a massive bullish outlook from a long-term perspective. Get access to our expert weekly market analyses and discover how your currency has been tracking with our tools. The next US earnings season is just round the corner, with Wall Street banks kicking things off in the week ahead. The Reserve Bank of New Zealand is widely expected to raise its official cash rate by yet another 25 basis points next week, having already raised by 75 basis points since October. Still, EUR traders are ready to react to what the ECB says about its plans to battle record-high inflation. The widely watched US 10-year Treasury yield has hit new cycle highs above 2.83% this morning.
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It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary. This means a major correction in the current uptrend in yields is not expected any time soon. Even European bonds have cratered with yields breaking key levels recently ahead of the ECB meeting on Thursday. The major German government bond hit its highest yield since 2015 yesterday with the 10-year at 0.78%. This was still negative as of early March which shows the seismic recent moves in bond markets. The DailyFX app features all the best parts of DailyFX.com, natively designed for your iOS device. That means you can read technical analysis and real-time commentary from our top analysts, stay close to the markets with live currency quotes, and see what’s ahead with our global economic calendar – wherever you are.
This chart shows activity after the same release as the one shown in Figure 2 to show how difficult trading news releases can be. On Nov. 4, 2005, the market had expected a payroll increase of 120,000 jobs, but instead the U.S. economy gained only 56,000 jobs. The disappointment led to an approximately 60-pip sell-off in the dollar against the euro in the first 25 minutes after the release. CedarFX offers access to a wide range of tradable DotBig broker securities, including stocks, futures, major and exotic forex pairs, cryptocurrencies and more. Though CedarFX could introduce a few additional educational resources, the broker remains a unique option for traders invested in giving back. We saw this week how the euro was dragged lower by a dovish European Central Bank, which appeared to be needing more time before it wants to join other central banks in raising interest rates.