Forex Trading For Beginners 2021

Risk Sentiment Flip-Flops, Canadian Dollar Shrugs Retail Sales Dec 21 21, 13:47 GMT Risk sentiment continues to flip-flop in pre-holiday markets. Major European indexes and US futures are trading slightly higher. Swiss Franc, Yen and Dollar are all trading generally lower, while Kiwi and Aussie are trading higher with Sterling. Canadian Dollar appears to be getting little support from better than expected retail sales data. Technically, gold appears to be supported by 4 hour 55 EMA and recovers. It has yet recaptured 1800 handle yet. For now, further rise is in favor as long as 1781.99 minor support holds. Break of 1814.06 will target 1877.05 resistance. However, below 1781.99 will bring retest of 1752.32 support instead. In Europe, at the time of writing, FTSE is up 0.99%. DAX is up 1.14%. CAC is up 1.06%. Germany 10-year yield is up 0.0462 at -0.320. Earlier in Asia, Nikkei rose 2.08%. Hong Kong HSI rose 1.0%. China Shanghai SSE rose 0.88%. Singapore Strait Times rose 0.39%. J...

Dollar Stands Tall after A Week of Central Bank Surprises Dec 18 21, 12:06 GMT It was a very volatile week full of central bank surprises. Fed indicated that there would be as many as three rate hikes next year. BoE surprised by raising the Bank Rate. Even ECB turned out to be less dovish as expected. But in the end, if was the late selloff in the stock markets that finalized that over tone. We would like to point out that in the background, there were still some worries over the fast spread of Omicron. Risk of return to tougher restrictions, prolonged supply bottlenecks and more persistent high inflation are realistically there. At the same time, major central banks are clearly turning more hawkish on inflation. Hence, the stock markets were indeed rather resilient in this context. Friday’s selloff was probably more because of “quadruple witching”. But we’ll have to see how it goes in January. In the currency markets, Dollar ended as the strongest one, followed by Sterling and Y...

Dollar Recovers on Surprisingly Low Jobless Claims Dec 09 21, 14:11 GMT Dollar rebounds mildly entering into US session, as supported by surprisingly good jobless claims report. Risk-on rallies in the stock markets also losing some momentum, helps lift Yen mildly. As for the week so far, Aussie remains the best performer, followed by other commodity currencies. Swiss Franc and Yen are the worst ones. There’s still enough time to change the picture before weekly close tomorrow. Technically, it could be about time Gold completes the consolidation pattern from 1761.76 temporary low, after touching 4 hour 55 EMA. Break of 1716.76 will resume the decline form 1877.05 to 1721.46 support next. Such development, if happens, could be accompanied by a near term comeback in Dollar. In Europe, at the time of writing, FTSE is down -0.36%. DAX is down -0.39%. CAC is down -0.31%. Germany 10-year yield is down -0.042 at -0.353. Earlier in Asia, Nikkei dropped -0.47%. Hong Kong HSI rose 1.08%. C...

RBA Stayed Put, Cautiously Optimistic Over Domestic Economy Dec 07 21, 11:20 GMT The RBA left the cash rate unchanged at 0.1% and the asset purchase program at AUD 4B/week. Policymakers maintained a cautiously optimistic outlook over economic recovery despite Omicron uncertainty. Again, policymakers reiterated that the next meeting (February) would be the time to discuss the pace of QE purchases. The central bank remained cautiously optimistic over domestic economic developments. As noted in the statement, household consumption was “rebounding strongly” and the outlook for business investment “has improved”. Concerning the new variant Omicron, the central bank suggested that it was “a new source of uncertainty, but it is not expected to derail the recovery“. Policymakers also acknowledged the strong inflation. Yet, they did not appear very concerned about it. According to the statement, “while inflation has picked up, it remains low in underlying terms. Inflation pressures are also...