Barchart is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve our web experience, and encourage users to Contact Us for feedback and accommodation requests. The combination of the UK’s mini-budget and https://nerdbot.com/2022/04/27/dotbig-ltd-review-first-impression-of-the-european-forex-broker/ general flight to the US dollar has sent the pound broadly lower and GBP/USD to a new record low. In this week’s edition, we are getting technical on the Nasdaq, WTI, gold and USD/CNH. Get expert reaction to latest market news and seize potential opportunities.
This analysis is known in the world of brokers under the name of fundamental analysisbecause it is based on the economic fundamentals behind the mechanism of the exchange rate. SINGAPORE/LONDON – Sterling rose on Monday after Britain reversed a plan to cut the highest rate of income tax, while the yen weakened past 145 per dollar, near the level where Japanese authorities intervened last month. The foreign exchange, or Forex, is a decentralized marketplace for the trading of the world’s currencies.
Bloomberg The Open
One of the great advantages of trading currencies is that the forex market is open 24 hours a day, five days a week (from Sunday, 5 p.m. until Friday, 4 p.m. ET). Since markets move because of news, economic data is often the most important catalyst for short-term movements.
- This is particularly true in the currency market, which responds not only to U.S. economic numbers, but also to news from around the world.
- Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making.
- The important economic events cause changes in the demand and supply ratio on the foreign exchange market.
- Gordon Scott has been an active investor and technical analyst of securities, futures, forex, and penny stocks for 20+ years.
- Opinions expressed herein are those of the authors and not necessarily those of OANDA or any of its affiliates, officers or directors.
Keep on top of volatility with instant updates on forex, commodities and indices. Forex The Canadian dollar continues to show sharp volatility this week.
Forex Friday: It Is All About The Pound
A double no-touch option gives the holder a specified payout as long as the price of the underlying asset remains in a specified range until expiration. The most common way to trade forex on news is to look for a period of consolidation ahead of a big number and trade the breakout on the back of the number. Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial dotbig contacts services industry in the Forex market. The mighty dollar marched to fresh multi-decade highs this morning as more hawkish Fed speakers and rising Treasury yields injected bulls with fresh inspiration. In case we couldn’t get through, we will try again at the same time the next day. The UK Chancellor Kwasi Kwarteng unveiled the biggest range of tax cuts in 50 years, including a reduction of the highest rate of income tax from 45% to 40%.
Either one of the levels must be breached prior to expiration in order for the option to become profitable and for the buyer to receive the payout. If neither barrier level is breached prior to expiration, the option expires worthless. A double one-touch option is the perfect option to trade for news releases because it is a pure non-directional breakout play. As long as the barrier level is breached—even if the price reverses course later—the payout is made. Indian shares fell sharply on Monday, tracking weak global cues as investors fretted about the impact of high inflation and aggressive policy tightening on global growth. A weakening rupee, rallying oil prices and disappointing manufacturing data closer home also dented sentiment.