EUR USD: Dollar Regains Footing after Black Monday Crash Traders DNA Forex thought leadership resources, education and market n Black monday, Forex, Dollar

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In a recent interview with Reuters, Head of Venezuela oil Ramirez said he wants OPEC to cut production by introducing a series of price bands starting at $70 per barrel. The proposals he said would be formally presented for discussion at a meeting of “technical experts” which OPEC is convening on October 21. This has potentially put Venezuela and https://1investing.in/ its close allies within OPEC, including Algeria, Nigeria and Iran, on a collision course with Al-Naimi and his Gulf Arab clique who still appear determined to maintain their current strategy. Also support the Forex pair late in the month was speculative buying tied to the possibility the Bank of England would raise interest rates before the Fed.

Ultimately, I think that you will probably have to trade this market off of the short-term charts, or perhaps even sit on the sidelines as the market has to figure itself out. Silver markets initially tried to rally during the course of the week, but then turned back around to form a bit of a negative candle. The $18 level below could be supportive though, so let’s see whether or not there is a supportive candle that we consider going long. If we do break down below the $18 level, at that point time I feel that the market will probably reach down to the $16 level. Ultimately, I prefer to go long if I have a signal to do so, but I have to wait for it to happen. Because of this, we will be looking for supportive candles in order to start buying as the longer-term trend in this pair is most certainly bullish.

FOREX-Currency markets turn “risk on”; Aussie crosses $0.8 for first time in 3 years

Some foreign banks and private banks were said to have bought dollars, likely for foreign portfolio investors who may have pulled out funds from Indian financial markets, dealers said. Purchases of the dollar on behalf of importers also weighed on the Indian currency, dealers said. The EUR/USD pair gapped lower at the open on Monday, but then turned back around to fill that gap.

Fears of global recession due to the pandemic dragged local equities to their lowest level in three years, which also weighed on the rupee, dealers said. In volatile trade, the Nifty 50 index closed 2.5% lower and the Sensex down 2.6%. This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.

The Fed is likely to pass on a June rate hike, but a July rate hike is still a possibility. If the Fed statement hints that a July hike is off the table then gold should rise further. The initial catalysts behind the rally were the weaker-than-expected U.S. Non-Farm Payrolls report on June 3 and dovish commentary from Fed Chair Janet Yellen early last week, which dimmed hopes for an imminent rise in U.S. interest rates. If the trends of rising prices continue, the profit margins could be hit since the corporate India is not in a position to pass on the rising raw material cost to the consumers even among the industrialized goods.

Credit Suisse Sees Franc Eventually Hitting Parity With Euro

Guar however persisted with the downward trend as Fundamentals remained weak. The one thing that you can count on in this market is probably going to be volatility. Given enough time, the markets will eventually make a steady decision, but in the meantime we have our levels and we are paying attention to in order to place longer-term trades.

With that, the market should then head to the $40 level, and with that we feel that the market will continue to have bearish pressure. However, if we managed to break above the $50 level, we could be buyers and hanging on for longer-term moves. In the meantime, we think it’s best to leave this to the realm of short-term trading. The EUR/JPY pair fell significantly during the course of the week, testing the 135 level. That area offered plenty of support, and we bounced in order to form a bit of a weekly hammer.

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With this, it is only a matter of time before we break down and continue selling off towards the $2.50 level. As far as buying is concerned, we have no interest in doing so because we feel the market will break down to lower levels given enough time. The downtrend has been strong for ages now, and with that there’s no point in fighting it. We crashed into the $50 handle, and we recognize that the $48 level below is massively supportive.

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FOREX-Dollar holds before Powell speaks, Swiss franc falls to five-month low

However, we do not have anything on this chart that suggests that you should start buying right now. With that being the case, I am patient, but I do recognize that sooner or later we should get a nice buying opportunity. The EUR/GBP pair initially trying to pull back a little bit during the course of the week, but then broke above the 0.85 handle. Because of this, the market looks as if it is ready to continue going higher, as the British pound continues to get absolutely pummeled over the longer term due to the vote to leave the European Union. With this, I think we will continue to go higher, but more than likely it’s going to be easier to deal with on short-term charts rather than long. The EUR/CHF crash of 2015 was one of the unforgettable events in the history of foreign exchange trading.

Huge shift in liquidity risks to the buy-sideas the twin forces of financial regulation and QE have played out.Severe reduction in sell-side balance sheet and banks’ liquidity provision. The market could have been functional if circuit breakers had existed at every level. Also worth noting that Other financial institutions has now overtaken other banks to become the second largest client segment after reporting dealers, and continues to drive growth in volumes.

London once again dominating the FX market, with volumes in London approaching 60% of global daily volumes. The lower average trade size reflecting the increased flows via e-trading channels, where higher volumes are generally accompanied by lower average trade sizes. Drop in the average daily value of FX trades settled through their platform in October 2014 compared to the record set in September, which is in-line with similar drops seen in Thomson Reuters and Hotspot volumes . Above is an example of a trade tile showing both bilateral and cleared prices via Nasdaq clearing, with the cleared pricing in blue) showing narrower spreads, due to lower CVA and capital charges.

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SNB Kept Up Currency Buying Amid Persistent Pressure on Franc

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The NZD/USD pair initially rose during the course of the week but found enough resistance above to turn things back around and fall the way back down to the 0.70 level. This of course was due to the volatility in the markets after the United Kingdom voted to leave the European Union. However, we did bounce hard and ended up forming a relatively positive looking candle considering what’s gone on. If we can break above the top of the range for the week, the longer-term buyers should return. While this isn’t quite a shooting star, it does suggest that there is a lot of resistance above.

Base Metals remained largely range bound last week but did witness some volatility backed by the FED decision. Oil and Natural Gas prices continued to remain lower pressured further by supply concerns. FOMC raised interest rates for the first time in almost a decade shifting from its lose monetary policy stance to a gradual and calculated tightening of the support as it sees the US economy recover going ahead.

• Silver markets went back and forth during the course of the week, but eventually ended up with a neutral candle.
• Natural Gas soared at the end of the week to trade at 2.894 reversing losses after a smaller inventory than expected.
• Agri markets overall, witnessed moderate volatility amid limited participation ahead of the weekend.
• This is not intended as a signal, by any means, but a piece I wanted to show and will continue to publish charts like these in…
• Data on Friday showed U.S. nonfarm payrolls rose 211,000 last month, and the unemployment rate held at a 7-1/2-year low of 5.0 percent.

The USD/JPY pair went back and forth during the course of the week, as we continue to meander around the 120 handle. Because of this, we feel the market is still going to go sideways in the short-term, and the fact that the Federal Reserve did not raise interest rates during the week of course doesn’t help the situation either. With this, we are simply sitting on the sidelines of this market but do recognize that eventually we believe the buyers Vertical vs. Horizontal Growth Strategies for Mobile Startup : Eastern Peak — Technology Consulting & Development Company will take over and send this pair to the 125 handle. December Comex High Grade Copper futures are trading higher, shortly before the cash market opening. There was an early session sell-off to 2.3625, which confirmed the downtrend, however, buyers stopped the move slightly above a key 50% level, triggering a strong short-covering rally. Any pullback at this point in time should offer value, as the market looks set to go much higher.

Remember, that is more than 40% of this contract, and with that being the case, it makes sense that we continue to go much higher. In fact, the USD/JPY pair broke out to the upside as well, and that of course suggests that this pair should go higher also as it is the third most important part of this contract as well. Ultimately, this should work against commodities as well as other currencies, so we believe that the US dollar is King again.