Forex Trading For Beginners 2021

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context o...

ISM services PMI index for November prior month 66.7 new orders 69.7 versus 64.0 estimate. Last month 69.7 employment index 56.5 versus 52.2 estimate. Last month 51.6 prices paid 82.3 versus 80.9 estimate. Last month 82.9 business activity 74.6 versus 69.8 in October supplier deliveries 75.7 versus 75.7 last month backlog of orders 65.9 versus 67.3 last month new export orders of 57.9 versus 62.3 last month imports 50.5 versus 53.3 last month inventory sentiment 36.4 versus 37.3 last month Some highlights: The index is the highest reading since the inception of the index in 2008.  The 12-month average is 62.1 percent, which reflects strong and sustained demand in the services sector.  The November reading indicates the services sector grew for the 18th consecutive month after two months of contraction and 122 months of growth before that. Anthony Nieves, chair of the ISM services business survey committee said: Economic activity in the servi...

Preliminary estimate came in at 56.5. Services index comes in at 58.0 up from 57.0 in the flash estimate Markit PMI composite 57.2 versus 56.5 preliminary Services index 58.0 vs 57.0 preliminary Chris Williamson, the chief business economist at IHS Markit says: "US business activity continued to grow at a solid rate in November, adding to signs that the pace of economic growth is accelerating in the fourth quarter after the Delta-wave induced slowdown of the third quarter. While growth is not matching the surge seen earlier in the year when the economy reopened, the fourth quarter expansion should be well above the economy's long-run trend to mark a solid end to the year. "Growth is lopsided, however, being led by the service sector as manufacturing remains heavily constricted by supply shortages and, in some cases, labor supply issues. These constraints are also increasingly affecting service providers, as evidenced by the service sector reporting a near record bui...

U.S. Treasury currency report The U.S. Treasury currency report is out saying that: no major trading partners manipulated exchange rates to prevent balance of payment adjustments, or gain unfair advantage in trade under 1988 law Vietnam Taiwan, continue to meet all three manipulation criteria for enhanced engagement under 2015 law U.S. Treasury reached agreement with Vietnam in July to address concerns Switzerland no longer meets all three criteria for enhanced analysi China's failure to publish foreign exchange intervention data lack of transparency make it an outlier among major economies treasury has raised concerns about China's practices with Chinese counterparts closely monitoring China's data and policies, concerned about persistent very large and persistent bilateral trade surplus trade surplus threshold shifted to $15 billion goods and services surplus from $20 billion goods surplus Meanwhile, the SNB it is out saying that the  it takes ...

Canadian jobs data for November 2021: Prior was +31.2K Unemployment rate 6.0% vs 6.6% expected Participation rate 65.3% vs 65.3 prior Full time jobs +79.9K vs +36.4K prior Part time jobs +73.8K vs -5.2K prior Average hourly wages +3.0% y/y vs +2.1% prior This is a sensational report. USD/CAD has immediately fallen to 1.2775 from 1.2817 but mixed in with that is the impact of the US non-farm payrolls report. The unemployment rate is the lowest since February 2020 and overall jobs are now 186K above pre-pandemic levels. The Bank of Canada meeting next week will be an interesting one. Without omicron, this would mean signals about a faster pace of rate hikes but the BOC will have to weigh that against virus developments. Invest in yourself. See our forex education hub. December 04, 2021 at 01:30AM Adam Button https://ift.tt/3DlvXJJ

US and Canada jobs reports to be announced at 8:30 AM ET It's Unemployment (unenjoyment?) day in both the US and Canada. Traders are locked and loaded and all carbed/proteined/caffeined up for the fireworks.    The comments for Feds Powell this week may have taken some of the wind out of a weaker report. The Fed Chair (and other Fed officials) are now focused on putting the brakes on inflation via a faster taper (likely announced at the December meeting) and also tightening earlier than expectations in 2022.  The caveat remains the new omicron virus but the chatter from Fed officials is more in terms of a new variant is more a risk to tighter labor (higher inflation) vs slower growth (lower inflation).  The main concerns on inflation are supply chain, lower participation.    ADP released on Wednesday showed an increase of 534K. The ISM manufacturing came in near expectations at 61.1 vs 60.8 last month. The employment component...

Forex news from the European trading session - 3 December 2021 Headlines: Markets: CHF leads, AUD lags on the day European equities mildly higher; S&P 500 futures flat US 10-year yields down 1.8 bps to 1.431% Gold up 0.2% to $1,772.34 WTI up 2.8% to $68.34 Bitcoin up 0.1% to $56,969 It was a quiet session for the most part as major currencies didn't do all too much except a noticeable drop for both the aussie and kiwi, owing more to a technical decline more than anything else. The dollar held largely steady with EUR/USD keeping around 1.1290-00 levels for the most part while USD/JPY inched a little higher from 113.20 to 113.40 during the session. The overall risk mood remains more tentative as US futures recovered from an early dip in Asia amid omicron fears in the US to keep around flat levels throughout. European indices also showed little poise while Treasury yields were seen meandering as investors are waiting with bated breath on the US non-farm payrolls lat...

BioNTech CEO, Ugur Sahin, remarks It is a question of when we will need it We have the ability to adapt COVID-19 vaccine relatively quickly Not clear if vaccinated people have sufficient protection from new variant We anticipate people will be protected from severe disease Confident that vaccinated people and those with booster shot will have sufficient protection against severe disease The suggestion seems to be that we will shift towards a world where the normal becomes "have you gotten your yearly COVID-19 shot yet?". But the takeaway here is that there is insufficient information to conclude that the omicron variant is more severe and that even if it is, vaccine makers can quickly get out something to fight that in a few months. Invest in yourself. See our forex education hub. December 03, 2021 at 10:43PM https://ift.tt/3lRN3cz

This according to sources by EnergyIntel There are no recommendations from the joint ministerial monitoring committee meeting (JMMC) according to an EnergyIntel report (citing sources).  The expectations are up in the air and range from: Keeping existing oil production plans in place (+400K BPD increase per month) Lowering the oil production plan (say 200K increase per month) Go back to no production increases for now at least as omicron works its way out The price of crude oil is trading around  $65.80 Invest in yourself. See our forex education hub. December 03, 2021 at 01:13AM Greg Michalowski https://ift.tt/3Ejq5C2

Wi fund government until February 18 An agreement has been reached on a US a stopgap measure to avert a government shutdown. The agreement will fallen government until February 18. This is according to House Appropriations Committee chairwoman Invest in yourself. See our forex education hub. December 03, 2021 at 01:09AM https://ift.tt/3xUvlda

Forex news from the European trading session - 2 December 2021 Headlines: Markets: GBP leads, AUD lags on the day European equities lower; S&P 500 futures up 0.1% US 10-year yields down 1.5 bps to 1.419% Gold down 0.2% to $1,779.50 WTI down 0.5% to $65.22 Bitcoin down 1.0% to $56,446 It was a quiet session for the most part as risk sentiment kept calmer early on but as we get in the final half-hour, we are starting to see the jitters and nerves creep back in. European equities had a poor start, having to play catch up to Wall Street losses yesterday but the downdraft extended as risk appetite struggled during the session. S&P 500 futures traded up by 0.5% only to be up by 0.1% now while Nasdaq futures turn negative and we're even seeing Treasury yields pare most of its advance from earlier, with 10-year yields even tracking lower now ahead of US trading. In FX, things were more mixed as the dollar traded little changed mostly early on with USD/JPY trading up ...

US futures track lower, oil turns negative on the day It looks like the familiar theme this week is starting to rear its head again as we might be heading towards another test of nerves in US trading later. S&P 500 futures are now up just 0.2% while Nasdaq futures are down 0.2%, with European indices also slipping to fresh lows on the day now. The latter is seeing losses stack up around 1.5% to 1.8% in playing catch up to Wall Street's decline yesterday. Meanwhile, 10-year Treasury yields are also tracking lower to be down 1.5 bps to 1.419% after having been as high as around 1.45% earlier in the day. Elsewhere, oil is also down 0.6% on the day now to fresh lows as price closes in on the $65 mark. While that may owe to OPEC+ headlines earlier, the shakiness in risk sentiment certainly isn't helping as we look towards the session ahead. Invest in yourself. See our forex education hub. December 03, 2021 at 12:47AM Justin Low https://ift.tt/3DgmROk

Latest data released by Challenger, Gray, and Christmas Inc Invest in yourself. See our forex education hub. US-based employers cut 14,875 jobs in November, down 34.8% from the 22,822 job cuts announced in October. This was the lowest monthly total in terms of job cuts since May 1993 - where there were 14,086 cuts announced. The November total this year is down 77% from the same month last year and throughout the year so far, employers have announced plans to cut 302,918 jobs from their payrolls, down 86% from the 2,227,725 jobs eliminated through the same period last year. Challenger notes that: With the Omicron variant emerging and the unknowns that come with its spread, coupled with the ongoing difficulty hiring and retaining workers, it's no surprise job cuts are at record lows. Employers are spread thin, planning best- and worst-case scenarios in terms of COVID, while also contending with staff shortages and high demand. December 03, 2021 at 12:29AM Justin Low ...

Forex news from the European trading session - 1 December 2021 Headlines: Markets: AUD leads, CHF lags on the day European equities higher; S&P 500 futures up 1.3% US 10-year yields up 3.7 bps to 1.478% Gold up 0.7% to $1,785.90 WTI up 4.5% to $69.18 Bitcoin up 0.2% to $57,250 It was a positive session for risk trades as the market brushed aside worries on the omicron variant, after having seen a more hawkish take by Fed chair Powell yesterday. Despite stocks suffering a drop on rate hike fears yesterday, Powell's nonchalant approach in viewing the omicron variant is perhaps helping to keep markets more sanguine today with equities bouncing back and bond yields climbing as well. European indices started off with modest gains before pushing up to around 1.2% to 1.8% while US futures gradually crept higher to stick around gains of over 1%. That is helping to see commodity currencies keep more buoyed even if gains were not stretching all too much against the dollar,...

Latest data from the Mortgage Bankers Association for the week ending 26 November 2021 Market index 604.2 vs 651.3 prior Purchase index 310.7 vs 295.7 prior Refinancing index 2,304.5 vs 2,706.2 prior 30-year mortgage rate 3.31% vs 3.24% prior A couple of things to note in the report, the first being that the steep fall in mortgage applications is largely driven by a decline in refinancing activity - which offset a decent rise in purchases on the week. That comes as we see a significant rise in the long-term mortgage rate to back above 3.30% - the highest since April. Despite the jarring headline, the jump in purchases is at least helping to cushion the blow a little as it does outline that there is demand among home buyers still. December 02, 2021 at 12:01AM Justin Low https://ift.tt/31mjgBo

The China securities regulator labels the report as being "not factual" This comes after an earlier report by Bloomberg, stating that China plans to ban the loophole that is exploited by tech firms for foreign IPOs. The loophole is one that is long used by Chinese tech firms as they seek going public in foreign stock markets through variable interest entities in order to raise capital. The report stated that China's ban was intended to address concerns over data security and may be finalised as soon as later this month. But for now though, Chinese authorities seem to be denying it but we'll see if there will be any more news in a few weeks' time. Invest in yourself. See our forex education hub. December 01, 2021 at 11:37PM Justin Low https://ift.tt/3lnrIHm

SNB Leaning on a spear can be a similar analogy to relying on the SNB to intervene in the EURCHF exchange rate. In January 2015 the SNB famously stepped back from defending the 1.2000 peg and the pair fell dramatically.However, despite this unreliable past the SNB still to regularly intervene in the EURCHF pair by buying euros and dollars to try and weaken the CHF. SNB's Maechler Last week SNB's Maechler repeated that the SNB can always intervene in the currency market, but is not focusing on a particular level of the franc. Maechler said . 'We are always prepared to intervene in foreign exchange markets if needed". However she said that "We don't have a specific exchange rate in our minds, neither in terms of level nor in terms of pairs". The recent strength in the CHF has been quite marked. The large trade surplus has been helping to drive it. Omicron fears The latest omicron fears have been weighing on the EURCHF pair as more flows have come int...

Danske expects the Fed to finish tapering in April now, as compared to June previously, in light of Powell's hawkish shift yesterday The firm is revising its Fed call after Powell's remarks, arguing that the Fed is expected to increase the pace of tapering from $15 billion per month to $25 billion per month so that the taper process can reach its conclusion in April. They had previously expected the Fed to finish tapering in June (as has most market participants to be fair). Adding that they have been noting that risks were skewed towards a faster tapering pace. As for rate hikes, they now expect three 25 bps rate hikes starting from June with the other two to come in September and December. But by ending QE in April, "the door is open" for the first rate hike to maybe come about in May. Thereafter, the firm sees four more rate hikes to follow in 2023. Invest in yourself. See our forex education hub. December 01, 2021 at 10:33PM Justin Low https://ift.tt/3...

US November consumer confidence data from the Conference Board Prior was 113.8 (revised to 111.6) Jobs plentiful 58.0 vs 54.8 prior Present situation 142.5 vs 145.5 prior Expectations 87.6 vs 89.0 prior This survey was from prior to omicron so I'd expect to see a drop next month. Invest in yourself. See our forex education hub. December 01, 2021 at 03:00AM Adam Button https://ift.tt/3d1L4gK

US dollar under pressure US 10-year yields are down 10 basis points today with the entire curve moving down. It reflects fear about the new covid variant after the comments from Moderna's CEO saying the vaccine might not be effective. The market is pricing out Fed rate hikes and it's particularly troublesome for USD/JPY. That pair is through the November lows and at the worst levels of the day and without much support below. What's interesting is that -- despite all the fear -- NZD and AUD are both about where they were when the omicron fears kicked off. Invest in yourself. See our forex education hub. December 01, 2021 at 02:51AM Adam Button https://ift.tt/3D6cVqQ