This leaves traders nervous to buy the dip in Gold as it moves to its lowest level since April 2020. The combination of the UK’s mini-budget and 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. Build your confidence and knowledge with a wealth of educational tools and online resources. Take control of your trading with powerful trading platforms and resources designed to give you an edge. Choose from standard, commissions, or DMA to get the right pricing model to fit your trading style and strategy. Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 1 pt on indices.

Shorting the pound is a strategy that makes profit if the price of the British pound falls. DotBig.com To short the pound, you want to enter the trade as close to resistance level as possible.

Market Outlook

A depressed economic outlook is likely to weigh on prices even on a protracted US Dollar pullback. By Laila Bassam, Timour Azhari and Tom Perry BEIRUT – Lebanon plans to slash its official exchange rate, replacing the 1,507 per dollar rate adopted 25 years ago with a… By Rae Wee SINGAPORE – Sterling climbed higher on Monday after British finance minister Kwasi Kwarteng said the government would reverse a plan to scrap the UK’s highest… The Thai stock market has finished lower in six straight sessions, slipping almost 55 points or 3.6 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,590-point plateau and it may take further damage on Monday. Markets will be waiting on pin and needles this week to see which central bank may be the next to intervene.

The UK government decided to abandon its plan to scrap the 45 percent tax rate, which was announced just 10 days before, after coming under severe criticism for such a relaxation for the high earners at the time of rising living costs. German stocks fell sharply on Monday and Eurozone bond yields rose as last week’s red-hot inflation data stoked expectations of aggressive interest rate hikes by the European Central Bank. And that has seen the yuan weaken to 7.2 against the US dollar, a level not seen since 2008. Keep abreast of market opportunities in the FX markets with insights, actionable trade ideas and support. Stay informed with real-time market insights, actionable trade ideas and professional guidance. Trade 9,500+ global markets including 80+ forex pairs, thousands of shares, popular cryptocurrencies and more.

No Relief Yet For Thai Stock Market

This website is free for you to use but we may receive commission from the companies we feature on this site. By John Revill ZURICH -The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign Forex news currency in market interventions in the second quarter of 2022,… By Peter Nurse Investing.com – The U.S. dollar edged higher in early European trading Monday, while sterling also gained after the U.K.

• MOSCOW – Russia’s top business lobby called on Friday for the central bank to build up its reserves of the Chinese yuan in a bid to stabilise the rouble, which is…
• European stocks may open lower on Monday as higher-than-expected U.S. inflation data and sharp moves in the price of oil added to worries about slowing global growth.
• As with all such advisory services, past results are never a guarantee of future results.
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• GBP/USD is holding gains above 1.1200, off weekly highs in early Europe.

By Harry Robertson LONDON -Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK’s frenzied… By Darya Korsunskaya MOSCOW – Russia estimates the new cut-off price for its budget rule that diverts excess oil revenues into its wealth fund at $62-$63 per barrel and… By Sinéad Carew and Alun John NEW YORK/LONDON – After tumbling earlier, sterling https://www.forbes.com/advisor/investing/what-is-forex-trading/ rallied against the dollar on Wednesday following the Bank of England’s purchase… SHANGHAI – China’s yuan is unlikely to continue depreciating rapidly, the state-owned Securities Times said in a front-page commentary on Thursday, as currencies… By Gertrude Chavez-Dreyfuss NEW YORK – Sterling rose sharply in volatile trading on Thursday, rallying from record lows hit on Monday, after the Bank of England…