fundamental-en Archives - UNFXB

Category: fundamental-en

Trading Schedule Time Table May 2024

We’ve included the file below to see the schedule.

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Trading Schedule Time Table March 2024

Trading Schedule Time Table March 2024

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Trading Schedule Time Table January 2024

Trading Schedule Time Table January 2024

We’ve included the file below to see the schedule. We’ll make sure to let you know about any possible changes in this trading schedule. If you have any questions feel free to contact us: accounts@unfxb.com

We’ve included the file below to see the schedule. We’ll make sure to let you know about any possible changes in this trading schedule.

If you have any questions feel free to contact us: accounts@unfxb.com

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Trading Schedule Time Table December -2023 & January 2024

We’ve included the file below to see the schedule. We’ll make sure to let you know about any possible changes in this trading schedule.

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Trading Schedule for November.

Trading Schedule for November.

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Trading Schedule Time Table – September 2023

Trading Schedule Time Table October -2023 Download the PDF. file below to see the schedule.
We will inform you about any possible changes in this trading schedule. If you have any questions feel free to contact us:
accounts@unfxb.com

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Trading Schedule Time

Trading Schedule Time Table August-2023
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We will inform you about any possible changes in this trading schedule.
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Asia-Pacific markets fall as investors grow concerned following Fitch’s downgrade of the U.S. credit rating.

Asia-Pacific markets fall as investors grow concerned following Fitch’s downgrade of the U.S. credit rating.

Fitch issued a statement downgrading the credit rating of the United States of America from AAA to AA+, and Fitch said that the downgrade of the credit rating of the United States came as a result of the high and increasing burden of the US government public debt, which led to the decline of Japanese stocks to their lowest daily level this year with a slight rise in gold and oil prices.

The euro (EUR) is keeping its erratic performance unchanged so far this week and is marginally falling against the US dollar (USD), spurring EUR/USD to hover around the 1.0980 area after the opening bell on the old continent on Wednesday.

The absence of relevant data in the Eurozone should leave all attention to the US calendar, as the publication of the ADP employment change is expected to be at the center of the debate. In addition, the MBA will release its weekly report on mortgage applications for the past week on July 28.

Following the US Dollar Index (DXY), the dollar has managed to keep the strong recovery in place since mid-July and is still looking to consolidate the recent breakout at 102.00 – which was helped by rising US yields and loss of some risk appeal – a galaxy linked.

During this week, the attention of market participants will be drawn toward the releases of important economic data in both the United States and Europe. These issuances are expected to challenge the recently affirmed data-driven approach adopted by both the Federal Reserve and the European Central Bank (ECB) in their decisions on interest rates.

The EUR/USD pair holds gains near 1.1000 at the start of the European session on Wednesday. The pair finds support from broadly weaker US dollars, as investors remain cautious amid the downgrade of US debt and ahead of key jobs data in the US.

The GBP/USD pair is trading below 1.2800, remaining on the defensive for the third consecutive day this Wednesday. The modest weakness of the US dollar has become a major factor weighing on major currencies. The downtrend seems to be limited ahead of the Bank of England’s decision on Thursday. US ADP coming.

WTI is struggling to maintain the bullish momentum intact after a four-day uptrend that hit the highest level since April 17 early Wednesday. The energy index remains marginalized, falling recently, around USD$81.80-85 heading to the European session as risk aversion grapples with talks about declining energy supplies.

The USD/CAD pair is gaining momentum and rising above the 1.3300 barrier heading to the early European session on Wednesday. The main pair is on track for its sixth weekly close above 1.3200.

 The USD/JPY pair slides to 142.80 as it rebounded from the intraday low heading to Wednesday’s European session. In doing so, the yen pair reverses from three-week highs while pressuring the 61.8% Fibonacci retracement level in October 2022 to January 2023.

The price of gold is holding on to moderate gains as it rebounded from three-week lows. However, the current situation of the metal remains elusive to attract XAU/USD buyers as it remains below the key support level.

Bitcoin fell to $28.6K on Tuesday, hitting its lowest since June 21 amid market concerns about the Curve Finance breakout and a potential drop in liquidity on the AAVE platform. The first cryptocurrency saw impressive bullish momentum, touching $30.0K early Wednesday morning. Although we don’t see the rapid downturn scenario being achieved, for Bitcoin now, the 50-day moving average plays the role of resistance. The chances of a rapid decline will increase sharply with Wednesday’s close below $29.2K.

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RBA leaves rates on hold, US Dollar stabilizes on July 4th

The Reserve Bank of Australia (RBA) went against the market expectation and left its policy rate unchanged following the July policy meeting. Meanwhile, the US Dollar holds its ground early Tuesday after having weakened against its rivals following the disappointing ISM Manufacturing PMI survey on Monday. There won’t be any high-impact data releases and trading action is likely to stay subdued with US stock and bond markets remaining closed in observance of the Independence Day holiday.

The RBA announced early Tuesday that it held the Official Cash Rate (OCR) unchanged at 4.10%. The latest Reuters poll showed there was a near split among economists, with 16 of 31 forecasting another 25 bps rate hike to 4.35%. In its policy statement, the RBA reiterated that “some further tightening of the monetary policy may be required” and explained that any tightening will depend on how the economy and inflation evolve. With the initial reaction, AUD/USD lost nearly 50 pips and dropped below 0.6650 before staging a rebound. At the time of press, the pair was trading flat on the day near 0.6670.

The economic activity in the US manufacturing sector continued to contract at an accelerating pace in June, the ISM Manufacturing PMI survey revealed on Monday. The headline ISM Manufacturing PMI fell to 46 from 46.9 in May and came in weaker than the market expectation of 47.2. Further details of the publication revealed that the Employment Index fell to 48.1 and the inflation component, Prices Paid Index, dropped to 41.8 from 44.2. The US Dollar Index erased its daily gains after this data and went into a consolidation phase near 103.00.

EUR/USD failed to make a decisive move in either direction on Monday. Early Tuesday, the pair continues to fluctuate in a tight channel at around 1.0900.

GBP/USD extends its sideways grind near 1.2700 for the second straight day on Tuesday.

Crude oil prices edged higher on Monday after Saudi Arabia said that it will extend the voluntary oil output cut of one million barrels per day by one more month to include August. After rising toward $72, the barrel of West Texas Intermediate retreated toward $70 area with the disappointing US ISM PMI report reviving concerns over the demand outlook.

USD/CAD holds steady above 1.3200 on Tuesday. Later in the day, the Bank of Canada will release the Business Outlook Survey for the second quarter.

USD/JPY moves up and down in a narrow channel below 145.00 on Tuesday. Japanese Finance Minister Shunichi Suzuki said earlier in the day that he is “keeping in close contact with the US at the vice-ministerial level on FX.” Similarly, “We are exchanging views with and communicating with authorities in other countries including our ally the United States not only on currencies, financial markets but various other issues,” Japan’s top currency diplomat Masato Kanda told reporters.

Gold staged a rebound amid retreating US yields on Monday and closed the day modestly higher. XAU/USD stays in positive territory above $1,920 early Tuesday.

Bitcoin gathered bullish momentum and climbed to $31,000 area before staging a technical correction early Tuesday. Ethereum rose above $1,900 on Monday and seems to have stabilized there in the European morning.

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US Dollar finds a foothold, eyes on PMI surveys

Following Friday’s uninspiring performance, the US Dollar (USD) holds its ground against its rivals early Monday. Ahead of the ISM Manufacturing PMI report for June, The US Dollar Index clings to small daily gains above 103.00. The European economic docket will feature revisions to HCOB Manufacturing PMIs. Markets will also keep a close eye on comments from central bank officials. It’s worth noting that stock and bond markets in the US will close early on Monday and remain closed on Tuesday in observance of the Independence Day holiday.

Annual inflation in the US, as measured by the change in Personal Consumption Expenditures (PCE) Price Index, fell to 3.8% in May from 4.3% in April, the US Bureau of Economic Analysis reported on Friday. In the same period, the Core PCE Price Index edged slightly lower to 4.6% from 4.7%. The initial reaction to soft inflation readings caused the USD to lose some strength ahead of the weekend.

During the Asian trading hours on Monday, June Caixin Manufacturing PMI in China came in at 50.5, down from 50.9 in May but better than analysts’ forecast of 50.2. The Shanghai Composite Index remains on track to post a daily gain of more than 1% and Hong Kong’s Hang Seng Index is up 2% on the day. Nevertheless, US stock index futures trade flat in the European morning.

Following Friday’s rebound, EUR/USD closed the week virtually unchanged. The pair stays under modest bearish pressure early Monday and trades below 1.0900.

GBP/USD gained nearly 100 pips on Friday and ended the week near 1.2700. With the USD staying resilient on Monday, the pair fluctuates slightly below that level.

USD/JPY staged a downward correction on Friday but regained its traction at the beginning of the week. As of writing, the pair was trading in positive territory near 144.80. “Japanese companies expect consumer prices to rise an average 2.6% a year from now, lower than their 2.8% projections three months ago,” the Bank of Japan’s (BoJ) noted in its quarterly Tankan survey. Meanwhile, the headline Tankan Large Manufacturing Index improved to 5.0 in Q2 from 1.0 and surpassed analysts’ forecast of 3.0.

Australian Trade Minister Don Farrell said early Monday that they will be announcing new measures to improve trade relations with China soon. AUD/USD edged higher in the Asian session but reversed its direction in the European morning. AUD/USD was last seen losing more than 0.3% on the day below 0.6650. On Tuesday, the Reserve Bank of Australia announce its interest rate decision.

Gold snapped a four-day losing streak on Friday and erased a large portion of its weekly losses. XAU/USD stays calm above $1,910 early Monday.

Bitcoin struggled to find direction over the weekend and extended its sideways grind above $30,500 early Monday. Ethereum gathered bullish momentum and reached its strongest level since May above $1,950.

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