Bank of England Governor Andrew Bailey (Andrew Bailey) said at a Treasury Select Committee hearing on the 7th that the interest rate hike policy is close to the peak, and BoE’s Monetary Policy Committee will make another decision on September 21.  

August Service ISM Surged, Heating up Concerns Over Inflation  The Institute for Supply Management released the ISM services index for August, which showed a recovery in business activity. The index unexpectedly rose to 54.5 from market expectations of 52.5, up from 52.7 in July and reaching a six-month peak. From the analysis of the service […]

Focus on XAU/USD today.  Fundamentally, yesterday the United States released ISM data on the service industry, just like the market outlook shared on Monday. The Fed is currently looking for data support. Consumption is one of the three economic carriages in the United States. The good performance of the ISM service industry PMI will greatly […]

As part of our commitment to providing our clients with the best reliability and service, there will be server upgrade & maintenance this weekend. Trading sessions this weekend are as follows: Date Trading sessions (GMT+3) Trade status 2023/9/2 (Sat.) 08:00-23:59 08:00 Late Open 2023/9/3 (Sun.) 00:00-23:59 Normal Friendly Reminder • The features of MetaTrader software […]

Watch out for ECB Lagarde’s words At last, the euro has shrugged off bad economic news and inflation has come under control. It might be the time for ECB to reconsider its tightening monetary policy . Investors will focus on whether the European Central Bank will pause interest rate hikes in September as expected. (Inflation […]

With easing policy, Yen sets to depreciate Japan announced the latest July core CPI annual rate excluding fresh foods rose 3.1% year-over-year, slightly down from 3.3% in the previous month. The figure matched with the Bank of Japan’s expectation. The slowdown is linked to lower energy prices, especially data from the Tokyo region showing a […]

Focus on AUD/JPY. Fundamentally speaking, Japan’s inflation has not declined, which increases the probability of the Bank of Japan’s future tightening policy. After a long-term depreciation, the yen has space for a short-term rebound. AUD/JPY has less room for arbitrage than USD/JPY. With strong USD, please watch out for AUD/JPY bear. Technically speaking, the AUD/JPY […]

Is a US Recession in 2023 Likely? Let’s turn the clock back to the end of last year. At that time, most investors and economists predicted that the US economy would inevitably suffer a recession in 2023 because of the environment of high interest rates. But today, at the end of July, the Federal Reserve […]

If you have read our article “Basic Types of Charts in Technical Analysis”, now it’s time to unlock the secret with technical analysis indicators. Let’s dive in! Moving Averages: Moving averages calculate the average price of a currency pair or any other asset over a specific period, such as 10 days or 50 days, to […]

Technical analysis in forex trading is like solving a puzzle using historical price data. It helps us understand the past and make predictions about the future. What is Technical Analysis? By studying these puzzle pieces—patterns, trends, support and resistance, and using indicators—we can make predictions about future price movements. But remember, technical analysis is not […]