In this chart I have presented a very risky scenario that can develop today and tomorrow probably considering the time frame of the chart. It is very risky as the trend is very bullish and this is going to be only a small correction compared to the bigger picture. I am not a big fun of selling XXXJP

An article published by China Finance magazine on Saturday quoted the People's Bank of China Governor Yi Gang as saying that the central bank won't employ larges-scale monetary loosening like the West and instead focus on the consumer price stability and exchange rates to help the economy recover. K

The Bank of England’s (BOE) study of the impact of negative interest rates to support the economy from the coronavirus pandemic-induced downturn revealed ‘encouraging’ evidence, said policymaker Silvana Tenreyro in a Sunday Telegraph interview published late Saturday. Key quotes “The evidence has be

Photo: FM Digital asset exchange Bibox is the latest cryptocurrency exchange to hop on the DeFi bandwagon, having listed two decentralized finance tokens to reaffirm what it calls a commitment to the expanding new economy. Today, Bibox announced listing of Meme (MEME), which is touted as an experi

Crude Oil Stocks Change in the US was +2 million barrels in the week ending September 4th, the weekly report published by the US Energy Information Administration (EIA) revealed on Thursday. Analysts estimate was for a draw of 1.3 million barrels. Market reaction Crude oil's reaction to this report

GBP/NZD is over 1% lower on Thursday after more negative Brexit news. The price is heading towards some key technical levels on the downside. Fundamental backdrop The UK government have announced they could be breaking international law if they change the treaty but the UK want Nothern Ireland in t

Portugal's foreign trade deficit narrowed in July, amid declines in both exports and imports, figures from Statistics Portugal showed on Wednesday. The trade deficit fell to EUR 716 million in July from EUR 1.86 billion in the same month last year. In June, the deficit was EUR 836 million. Exports

U.K. stocks were subdued on Wednesday as traders turned their attention to Thursday's Jackson Hole meeting, during which Fed Chair Jerome Powell is expected to give details on the Federal Reserve's framework review. The benchmark FTSE 100 was down 2 points at 6,035 after losing 1.1 percent in the pr

Photo: Finance Magnates Fintech payment services company FXPress Payment Services Limited announced this Tuesday that it has entered into an agreement to acquire Avila House Limited, subject to regulatory approval. Avila House is a licensed Small Electronic Money Institutional. Under the agreement

NZD/USD prints four-day losing streak with the latest one defying bounce off 0.6571. Local virus transmission in New Zealand, strong US dollar weighed on the pair off-late. Market sentiment remains heavy amid uncertainty over US stimulus, Sino-American tussle and coronavirus woes. RBNZ is expected t

Photo: Finance Magnates The National Futures Association (NFA), the self-regulatory organisation for the U.S. derivatives industry, recently announced that it has ordered Gautam Prakash, formerly of Monsoon Capital LLC, to not reapply for membership for seven years. In particular, the US regulator

US DOLLAR INDEX The dollar index fell to new two-year low (93.32) on Wednesday, signaling that brief consolidation is over and bears re-take full control. Dollar's steep fall broke below major Fibo support at 94.12 (61.8% of 88.14/103.80) this week and also penetrated the top of thick monthly cloud

EUR/USD and EUR/GBP upside bias Broad dollar weakness has been supporting the EURUSD rise lately. The EURUSD can be known as the ‘anti-euro’ index due to its strong EUR component of the Dollar Index. As a result, they have a strong negative correlation. When the Dollar Index falls the EURUSD rises a