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With not a lot of data on tap, traders could continue to trade the possibility of a Fed slowdown. All services and products accessible through the site /markets are provided by FXCM Markets LLC with registered address First Floor, First St. Vincent Banking Ltd Building James Street Kingstown St. Vincent and the Grenadines. FXCM Markets is not required to hold any financial services license or authorization in St Vincent and the Grenadines to offer its products and services. DotBig LTD Trade your opinion of the world’s largest markets with low spreads and enhanced execution. Trade popular currency pairs and CFDs with Enhanced Execution and no restrictions on stop and limit orders. The information on this website does not take into account the investment objectives, financial situation and needs of any particular person. The US Dollar moved higher across the board on Friday in what was otherwise a quiet session following the US Thanksgiving holiday.

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That said, China’s Industrial Profit dropped to -3.0% during the January to October period versus -2.3% marked for the January-September era. The sour tone of OBR forecasts has weighed on GBP in the spot market since the Autumn Statement and now the US Dollar is edging higher across the board in a risk-off start to the week. The downbeat data justifies the early-day comments from Reserve Bank of Australia Governor Philip Lowe and keep the AUD/JPY bears hopeful. Will be closely monitoring higher frequency data such as spending data, and the next CPI report to determine the move in February. EUR/USD bears have moved in on the risk of the Chinese Communist Party losing power as protesters angered by strict anti-virus measures called for Chi… The AUD/JPY pair has witnessed an intense sell-off by the market participants as households’ protests in China against Covid-19 restrictions imposed b… Amid these plays, the US stock futures drop nearly 0.70% while the US 10-year Treasury yields fall 3.7 basis points to 3.66% by the press time.

FCA bans former Barclays trader Carlo Palombo

The news should exert downside pressure on the WTI crude oil prices which dropped to $76.30 by the end of Friday’s trading session. Going forward, the preliminary United States Gross Forex Domestic Product data will be crucial for further guidance. This might keep reins in the US Dollar but won’t Fed chair Jerome Powell in his mission of achieving price stability.

These currencies tend to attract capital during times of turmoil and see outflows when the financial markets settle down. As with other asset classes, forex trading news can become particularly active before and following major economic events. However, there are significant differences between the type of news that sets apart currencies from other financial markets.

How to get started trading market news

Elsewhere, the talks among the members of the Group of Seven Nations and the European Union continue to drag on the Russian oil price cap. As per the latest updates, the $65 per barrel is the sticking point as discussions are likely to resume on Monday. Intensifying anti-locking protests have raised concerns about growth prospects in the Chinese economy. The country is already facing the risk of bleak demand and a vulnerable real estate sector.

  • Chatters over a slowdown in the current rate hike pace by the Federal Reserve have gone rooftop.
  • The economic data landed in negative territory at 0.2% vs. the consensus of 0.4% growth and the prior release of 0.6%.
  • Reserve Bank of New Zealand Karen Silk, Assistant Governor, expressed her view on the economic, inflation and monetary policy outlook in her sp…
  • Gold price (XAU/USD) drops for the first time in five days while printing mild losses at around $1,750 during early Monday.
  • The situation of unrest in China as households have been frustrated being at home following Covid-19 protocols for a tad longer period.

Also negative for the AUD/USD pair could be the downbeat China data publishing this weekend. China’s Industrial Profit dropped to -3.0% during the January to October period versus -2.3% marked for the January-September era. Additionally, the record high growth in the US Black Friday online shopping also acts as a negative barrier for the AUD/USD prices. Forex Moving on, the second-tier US data relating to employment may entertain the USD/CAD traders but major attention should be given to the aforementioned risk catalysts and the November month’s job report for the US and Canada. Individuals in China have come out on the roads after frustrating by the prolonged zero-Covid policy by the Chinese administration.

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