Review Brokers
No Result
View All Result
Friday, September 29, 2023
  • Login
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
No Result
View All Result
Review Brokers
No Result
View All Result

Steady after a rocky start

Admin by Admin
September 6, 2022
in Forex/CFDs/Cryptos News
0
MarketNews
0
SHARES
0
VIEWS

(Craig Erlam – MarketPulse)

It’s been a mixed start to trade on Tuesday, similar to what we saw in Asia overnight, and as we await the return of the US after the long bank holiday weekend.

Europe in particular was rattled on Monday by the Gazprom announcement that came after the close on Friday in relation to Nord Stream 1. The latest move in the apparent weaponisation of energy supplies has once more created huge uncertainty ahead of the winter. Conveniently the announcement came hours after the G7 agreed to a Russian price cap and as Europe was boasting about being ahead of schedule on filling gas stores.

RBA signals more hikes ahead

The Reserve Bank of Australia raised the cash target rate by 50 basis points to 2.35% on Tuesday, in line with expectations, as it continues to aggressively push back against soaring inflation. The central bank reiterated that it is not on a pre-set path but will continue hiking interest rates with markets of the belief that there’s still plenty more to come including another 50bps next month and 25 at each of the following three.

Of course, forecasting even that far ahead has become far more challenging in such an uncertain global environment but it’s clear that central banks around the world still have a massive job on their hands and the coming months will be tough. That said, the RBA is of the belief that inflation will peak later this year before returning to 3% in 2024.

PBOC desperate to support CNY

The PBOC once again set a stronger yuan fix today as it continues to push back against its decline. Controlling the decline in the yuan has clearly become a huge priority, with the 2% cut in the FX reserve requirement ratio intended to support that initiative. Rather than stop a decline in the yuan, these efforts may simply slow it with a move above 7 against the dollar looking like a matter of when rather than if, given the relentless rally in the greenback.

Hit the ground running

Liz Truss will be sworn in as Prime Minister today and will have to hit the ground running as the UK prepares for a brutal winter. Reports claim the new PM intends to freeze energy bills this winter at a cost of up to £130 billion, a move that would certainly fall into the bold category. The question is what impact it will have on inflation and gas demand. This will be a core part of what will need to be a much greater package to shield the economy from the grim forecasts we’ve seen in recent weeks.

Brent steadies after OPEC+ boost

Brent crude is a little lower today after seeing decent gains at the start of the week following the OPEC+ output announcement. The decision to reverse the 100,000 barrel per day increase in September was more symbolic than fundamentally significant, in that it doesn’t really change the dynamics in the market but it will make traders think twice about driving prices lower in the way they have recently.

The disturbing global economic outlook combined with the prospects for a nuclear deal between the US and Iran created a bearish case for oil prices, something that hasn’t been the case for much of the year. But the cartel has sought to quash that quickly by not just signalling a willingness to cut output but also leaving the door open to emergency meetings in order to address market volatility. In other words, if the market tries to drive the price much lower again, or the fundamentals change, the group will cut again and it won’t wait until 5 October.

As far as Brent is concerned, that may have reinforced support around $90, with the group clearly favouring a price closer to $100. It will be interesting to see if the market tries to test the group’s resolve again or if this initial warning shot will prove enough.

Recovering but for how long?

Gold is enjoying a bit more of a recovery today, this time aided by a pullback in the US dollar. The greenback has been a strong headwind for the yellow metal and, along with rising yields, has driven it back towards $1,680 where it has once again run into firm support. While some may be encouraged by the rebound we’ve seen, I wonder how much appetite there’ll actually be for a significant and sustainable rebound.

We’re seeing it face its first test now around $1,730 which until recently was a key area of support. If it overcomes this, further resistance could be found around $1,750-1,760 which would be a big test. A move above here could inspire some optimism but in this environment, that will be easier said than done.

Struggling for rally momentum

Bitcoin pushed briefly back above $20,000 today but is struggling to build on that. Broadly speaking, it’s trading in a range between $19,500 and $20,500 as it has for a little over a week now but rallies do appear to be increasingly struggling which may be a slightly bearish signal. A break of $19,500 would confirm that although with trading currently so choppy, it’s tough to read too heavily into today’s moves so far. The broader market environment also remains quite risk averse which could work against cryptos.

Why oil gains remain limited despite OPEC output cut? [Video]

(Ipek Ozkardeskaya – Swissquote Bank Ltd)

The European natural gas futures jumped 30% yesterday, the euro fell further against a broadly stronger US dollar, and crude oil climbed above the $90pb mark, as OPEC decided to cut production by 100’000 barrels per day, to the August levels, as they wanted to ‘stabilize’ oil prices after the longest price decline since the beginning of the pandemic.

For now, the barrel of US crude couldn’t clear the $90 resistance, as the US-Iran nuclear deal is still a possibility to boost supply, and no one really knows what could happen in the complex politics of the oil market. Also, the recession worries weigh on the demand outlook.

In the UK, Liz Truss won the PM race. Cable first fell to a fresh low, on the back of a broadly stronger US dollar, but the pair rebounded.

The Reserve Bank of Australia (RBA) raised its policy rate by 50bp as expected today. China boosted stimulus.

The US is back from Labor Day holiday. US futures are in the positive, but winds could rapidly change direction.

Read Forex Trading Analysis: EUR/USD, USD/CAD, AUD/USD, USD/TRY

Post Views: 346

Related posts:

MarketNewsReserve Bank of New Zealand Preview: Hitting the repeat button despite hard-landing fears FXStreetUSD overextends – XAUUSD Analysis BitcoinThree reasons why Bitcoin price could witness a big short squeeze MarketNewsPound cuts oversold against the dollar but must fight economic headwinds FXStreetNZD/USD in a recovery mood [Video] bitcoinMusk has clipped the wings of Bitcoin FXStreetForex Technical Outlook: Gold (XAUUSD), EURUSD, NZDUSD, USDCHF FXStreetForecast: Oil – Gold
Tags: European natural gas futuresForex/CFDs/Cryptos NewsPBOC desperate to support CNYRBA signals more hikes aheadStruggling for rally momentum
30 USD No Deposit Bonus 30 USD No Deposit Bonus 30 USD No Deposit Bonus
Previous Post

USDCAD Outlook: Ascending channel favours bullish traders ahead of BoC on Wednesday

Next Post

Forex Trading Analysis: EUR/USD, USD/CAD, AUD/USD, USD/TRY

Admin

Admin

Related Posts

ForexNews
Forex/CFDs/Cryptos News

Economic Headwinds in Europe: Exploring the Lower Trading Figures

July 25, 2023
EUR-USD
Forex/CFDs/Cryptos News

EUR/USD Forecast: Turbulent Times Ahead for the Euro

July 17, 2023
FXcurrencies
Forex/CFDs/Cryptos News

Mastering Murrey Math Lines for Trading USD/JPY and USD/CAD

April 19, 2023
oil
Forex/CFDs/Cryptos News

Navigating the Turbulent Waters of Commodity Markets: Higher Prices and Weaker Margins

April 19, 2023
oil
Forex/CFDs/Cryptos News

Energy Prices Spark Inflation Surge in the US: Expert Analysis

April 17, 2023
Gold
Forex/CFDs/Cryptos News

Gold Forecast: Will it Reach $2040 Again and What are the Risks Involved?

September 11, 2023
Load More
Next Post
FXcurrencies

Forex Trading Analysis: EUR/USD, USD/CAD, AUD/USD, USD/TRY

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
PrimeXBT

PrimeXBT | Step2earn Contest (06.06.22)

May 31, 2022
FBS

FBS | $100 Quick Start Bonus

February 21, 2023
PrimeXBT

PrimeXBT | TradinatoR Contest (27.06.22)

June 6, 2022
xtrade

XTrade | Xmas Season Bonus (26.12.21)

May 24, 2022
CMC Markets

What Is Bitcoin?

52
forexknowledge

What is Forex?

32
Tiomarkets

MT4 vs MT5: What trading platform to choose?

31
CMC Markets

What Is Ethereum?

29
JustMarkets-Grab a Risk-Free $30 Welcome Bonus in Forex Trading

JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading

September 25, 2023
Boost Your Profits with OctaFX 50% Bonus Offer

Boost Your Profits with OctaFX 50% Bonus Offer

September 25, 2023
XM Group - How to Claim $30 Forex Welcome Bonus

XM Group – How to Claim $30 Forex Welcome Bonus

September 24, 2023
RoboForex How to Claim $30 as a Forex Welcome Bonus

RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus

September 22, 2023

Advertisement

exness

fbs

XM



octafx

icmarkets

XM

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies

Connect to ReviewBrokers

facebook twitter telegram
liveinternet liveinternet
Review Brokers

ReviewBrokers Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact us:
– Skype: fxvnpro
– Email:

admin@reviewbrokers.com

reviewbrokers.net@gmail.com

Payment methods:
– Webmoney
– Perfect Money
– Paypal
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Categories

  • Affiliate Program (63)
  • Best Promotions (42)
  • Broker Listing (7)
  • Education (95)
  • Expert Advisors (2)
  • Forex Demo Contest (38)
  • Forex Deposit Bonus (239)
  • Forex Live Contest (53)
  • Forex No Deposit Bonus (28)
  • Forex Rebate (Cashback) (64)
  • Forex Trading Indicators (26)
  • Forex Trading Strategies (15)
  • Forex/CFDs/Cryptos News (963)
  • Other Promotions (51)
  • Promotional Content (14)

Disclaimer

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in the Financial Market such as CFDs, Forex, Binary Options, Indices, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. ReviewBrokers is not responsible for any information on the website.

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies
  • Top Forex Brokers with No Deposit Bonuses
  • FBS Global Roadshow: Nurturing Global Trading Communities Worldwide
  • What is a No Deposit Forex Bonus and How to Get It
  • Maximize Profits with Free Forex Trading Bots
  • How to Start Making Money with Forex Trading for Beginners
  • Trading Forex with No Deposit Bonus
  • Orbit Global FX | August Month Offer For Traders

Risk warning

Please be aware of your investment into trading markets which is high risk and not suitable for everyone.

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

No Result
View All Result
  • Home
    • Binary Options Brokers
    • Forex Advertising
    • Best Brokers 2022
    • Economic Calendar
    • Contact Us
  • Expert Advisors
    • Expert Advisors Price
  • Forex Brokers
  • Education
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Affiliate Program
    • Forex Deposit Bonus
    • Forex Live Contest
    • Other Promotions

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/reviewbrokers.net/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111