Forex News

Our Morningstar equity research reports are updated regularly with new information about company fundamentals. These are available for a wide range of shares on our platform and can also indicate whether they are considered to be overvalued, fairly valued or undervalued within the stock market. This information may help traders DotBig broker to make a decision on whether to enter a position or not. A report released by the Labor Department on Wednesday showed a modest decrease in U.S. import prices in the month of October. The Labor Department said import prices edged down by 0.2 percent in October after tumbling by a revised 1.1 percent in September.

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Apart from this, an intraday bounce in crude oil prices underpins the commodity-linked Loonie and also contributes to the offered tone surrounding the USDCAD pair. That said, concerns about lower fuel consumption in China – amid rising COVID-19 cases – could act as a headwind for the black liquid. This could help limit losses for the USDCAD pair ahead of the latest consumer inflation figures from Canada and the US monthly Retail Sales data, due later during the early North American session. A manual alternative is to monitor upcoming tradeable events using our economic calendar.

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This, in turn, warrants some caution before placing aggressive bullish bets around the NZDUSD pair and positioning for any further gains. Traders now look forward to the US monthly Retail Sales data for a fresh impetus later during the early North American session. Adding to this, geopolitical developments might produce short-term trading opportunities around the NZDUSD pair. The shared currency’s relative underperformance comes on Forex the back of reports that the missile that hit Poland may have been fired by Ukraine forces at an incoming Russian missile. This, along with fresh US Dollar selling, boosts the Euro and assists the EURGBP cross to regain positive traction. The British Pound, on the other hand, draws support from hotter-than-expected UK consumer inflation figures, which adds to pressure on the Bank of England to continue raising borrowing costs.

  • After witnessing a risk-on mood the previous day, traders experience a downbeat mood on the floor during early Wednesday.
  • This points to indecision over the next leg of a directional move and constitutes the formation of a rectangle.
  • Therefore, you will need to make quick judgements on how to trade the announcement.
  • As discussed, our online trading platform, Next Generation, releases regular news and analysis articles for all financial markets.

Sales were up in five out of seven subsectors, representing 70.2% of wholesale trade, while sales were higher in three of the ten provinces. Nov Canadian wholesale trade increased by 0.1% in September from August on the higher sales in the personal and household goods subsector, and in particular pharmaceutical products, Statistics Canada said on Tuesday. The national average selling price edged up 0.65% to C$644,643 ($486,340) DotBig overview in October from C$640,479 in September, but was down 9.9% on the year. CREA’s home price index fell 1.2% on the month and was down 0.8% annually. Risk catalysts may entertain traders, mostly the bears, ahead of the US Retail Sales, speech from ECB’s Lagarde. US/EU data, G20 updates enabled the previous run-up ahead of the key updates. US Dollar bounces off three-month low as Russian missiles killed two in Poland.

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On the other hand, the US 10-year Treasury yields keep the previous day’s losses around a one-month low whereas the two-year Bond coupons also print a three-day downtrend. That said, both the Treasury yields are depressed around 3.77% and 4.33% by the press time. Looking forward, headlines for the Coronavirus and Poland are likely to gain major attention but the US Retail Sales for October, expected 1.0% versus 0.0% prior, will be more important for clear directions. It should be noted that the divergence between the Fed and the People’s Bank of China keeps the USDCNH bears hopeful. On the same line, Russian-made missiles killed two people in the European nation bordering Ukraine and amplified geopolitical fears due to its status as a member of the North Atlantic Treaty Organization .

That said, worries about a deeper economic downturn act as a headwind for the Sterling and support prospects for a further intraday appreciating move for the EURGBP cross. Investors, however, might refrain from placing aggressive bets and prefer to move to the sidelines ahead of the BoE’s Monetary Policy Report Hearings later this Wednesday. This, in turn, warrants some caution for bullish traders and positioning for an extension of the recent rally from the 200-day EMA. Indeed, the dollar resumes the downside after the bout of risk aversion that lifted the index continues to dwindle on Wednesday. „It’s very difficult to have financial stability without price stability,“ European Central Bank Vice President Luis de Guindos said on Wednesday, as reported by Reuters. „We still have some way to go with rate hikes, specific level that interest rates may have to reach to be consistent with this objective is uncertain.“

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