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Showing results for: "daily market news"

Equity Market Soars After U.S. Government Shutdown Averted

The dollar index held steady, while U.S. treasuries maintained robust levels when the threat of a U.S. government shutdown was averted. Global equity markets surged on the heels of reassuring news: the threat of a U.S. government shutdown was averted, instilling confidence across the board. Although tempered after breaching the $106 threshold, …

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How To Identify Market Trends For Trend Trading Strategies

The trend trading strategy is a popular strategy employed by many traders seeking to capitalise on sustained price movements in the financial markets. By learning how to identify market trends and adhering to these trends, traders aim to ride the wave of momentum and potentially generate profitable trades. In this article, we …

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Equity Market Slides Ahead Of NFP Release

Renewed fears about the banking crisis have caused investors to turn risk-off even as gold hits a new high While investors are still digesting the recent rate hike by both the Fed and the ECB, the equity markets continue to slide with the renewed banking turmoil. Several regional banks in the US …

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Gold Price Gains on Risk Aversion, Fed’s Bostic Remarks

Fundamental Analysis * Shining Bright: Gold prices continue to hold strong, supported by increased geopolitical tensions concerning Iran and Israel. As reported by The Times, Prime Minister Benjamin Netanyahu of Israel has stated that “his country will take all necessary measures to protect itself.”. The comments from PM Netanyahu came after his …

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EUR/USD Steady Amid Renewed Selling Pressure On Greenback

Fundamental Analysis * Euro’s Steadfast: The Euro has slightly recovered and edge higher against the dollar as investors consolidated gains after Federal Reserve officials repeated the interest rate-cutting cycle is on hold pending new economic data, while the monetary easing outlook for other major central banks remained unchanged. On top of that, …

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Pound Sterling Decline Amid Weak UK Employment Data

Fundamental Analysis * Sterling Stumble: The British Pound has resumed its downward trend against the dollar, following lackluster UK employment data. This has fueled speculation that the Bank of England could initiate rate cuts sooner than expected, leading to a decline in the value of the GBP.The number of claimants for unemployment …

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USD/CAD Extend Gains Amid Upbeat U.S Data

Fundamental Analysis * Diving Loonie: The Canadian Loonie continue to lose ground against the dollar as US Dollar has resumed its upward trend, propelled by retail consumption data surpassing expectations which affirming the robust momentum of the US economy. The US Census Bureau revealed that March’s Retail Sales grew by 0.7% growth …

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Aussie Recovers, Mideast Risks May Limit Upside

Fundamental Analysis * Geopolitical Perils: AUD/USD sees a slight rebound from a two-month low reached on Friday, driven by profit taking among sellers while market focus on attention on escalating geopolitical tensions in the Middle East. Iran retaliated against Israel late Saturday with explosive drones and missiles following a suspected Israeli attack …

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Yen Fell Amid U.S Inflation Data, Spark Intervention Fears

Fundamental Analysis * • Intervention Imminent?: The Japanese Yen has reached a 34-year low against the dollar, a level not witnessed since 1990, following robust U.S. inflation data that boosted the greenback. In March, the Consumer Price Index (CPI) experienced a 0.4 percent monthly surge, exceeding the anticipated 0.3 percent increase as …

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Euro Held Steady Following Dollar Weakness, Eye On ECB

Fundamental Analysis * Euro Rides High: EUR/USD remains steady and post modest gains against the dollar as the current weakness in greenback currently offering some support to the major pair due to market cautiousness while investors currently eyeing on the ECB. The greenback fluctuated following a slowdown in services growth followed by …

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Oil Price Plunged As Middle East Tension Subsided

Fundamental Analysis * Peace Talk Breakthrough?: Oil prices fell by 1% due to easing tensions in the Middle East. Israel withdrew more troops from southern Gaza and committed to new discussions for a potential ceasefire in the ongoing six-month conflict. Both Israel and Hamas sent delegations to Egypt for fresh ceasefire talks …

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Yen Rebounds On BoJ’s Potential Intervention

Fundamental Analysis * Yen On the Edge: The Japanese Yen has slowly recovered its footing against the greenback following speculation of BoJ’s potential invention in the currency market. Earlier this week, Tatsuo Yamasaki, Japan’s former Vice Finance Minister for International Affairs, stated that Japan is prepared to intervene in the currency market …

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Oil Price Rose On Supply Concerns

Fundamental Analysis * Supply Fears: Oil prices continue to climb amid concerns over reduced supply, as major producers continued to enforce output cuts, coupled with signs of robust economic expansion in the United States, the world’s largest oil consumer. The oil price is boosted by Ukraine’s attacks on Russian refineries, disrupting fuel …

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Pound Remains Defensive Amid Slowing UK Inflation.

Fundamental Analysis * Dismal mood: The Pound Sterling has fell against the dollar and its peer as the major pair remains at risk due to slowing UK inflation and negative market sentiment. On U.S front, several Federal Reserve officials discussed the monetary policy outlook on Tuesday. Loretta Mester, President of the Cleveland …

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AUD/USD Plunged Amid Dovish RBA

Fundamental Analysis * RBA Bombshell: The Aussie dollar have plunged against the dollar after the Reserve Bank of Australia (RBA) have delivered a dovish statement in its meeting minutes. The Reserve Bank of Australia (RBA) released the minutes from its March monetary policy meeting, revealing that the board did not entertain the …

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Loonie Rises On Bright Economic Outlook

Fundamental Analysis * Loonie Comeback: The Canadian Dollar has surged against the dollar and other currency pairs as recent positive data release from Canada renewed confidence in Canada’s economic future, dampening expectations of immediate interest rate cuts by the Bank of Canada. In January, the Canadian Gross Domestic Product (GDP) saw growth …

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Gold Price Near Record High Following Economic Uncertainty

Fundamental Analysis * Golden Resistance: The price of the yellow metal continues to exhibit strength as the market continues to seek safe haven amidst mounting economic worries and the potential for interest rate cut. One major driver behind gold’s rapid rise is the ongoing accumulation of physical gold by central banks globally. …

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Euro Fell On Strong Dollar, Dovish ECB Outlook

Fundamental Analysis * Dipping Euro: The Euro has slipped against the greenback from its weekly high following a buoyant USD supported by positive data and dovish signals from ECB. The US Census Bureau reported that Durable Goods Orders in February increased by 1.4% compared to the previous month, surpassing expectations of 1.1% …

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Oil Price Rose On Tighter Supply Bets, Gaza Ceasefire Doubt

Fundamental Analysis * Gaza Ceasefire on Thin Ice: The price of crude oil has climbed, fueled by increasing expectations of reduced global crude supplies as well as geopolitical tension. Reports suggest that Russia plans to decrease oil output while Ukraine persists in targeting the country’s refineries. On Gaza front, the United Nations …

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Kiwi Plummeted Amid Bleak Economic Prospects In New Zealand

Fundamental Analysis * Grim Economic Future: The New Zealand Kiwi has fell against its peers due to the country’s sluggish economic growth. Recent statistics revealed that the New Zealand economy entered a technical recession during the last quarter of 2024. Contrary to economists’ expectations of a 0.1% increase, the New Zealand Gross …

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Swiss Franc Plunges Following SNB Surprise Rate Cut

Fundamental Analysis * SNB Surprise: The Swiss Franc experienced a sharp decline against the dollar and its peers after the Swiss National Bank’s (SNB) decision to cut interest rates by 25 basis points (bps) to 1.50% in its March meeting held on Thursday. The SNB decided to lower interest rates in response …

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Aussie Dollar Soars After Strong Jobs Data, Post-FOMC

Fundamental Analysis * Flying Aussie: The AUD/USD pair rise for the second consecutive day, receiving an extra boost after the optimistic Australian jobs report. Notably, the Australian Employment Change exceeded even the most optimistic predictions, further supported by the weakening US Dollar following the FOMC meeting. In February, Australia’s unemployment rate decreased …

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Yen Plunges On BOJ Dovish Talk, Expect More Weakness

Fundamental Analysis * Yen Turbulence: The Japanese yen continue to experience depreciation against other currencies as the central bank’s reaffirmation of a dovish near-term outlook largely eclipsed any positive impact despite with BoJ interest rate hike. On Tuesday, the Bank of Japan raised interest rates by 0.1%, marking its first increase in …

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Oil Extends Rally Amid Tight Supply Concern

Fundamental Analysis * Supply Squeeze: Oil prices extend its rally towards 4.5 month high as energy markets show growing concern over the ongoing decline in crude oil supplies expected to persist in the near future. Despite countries outside of the Organization of the Petroleum Exporting Countries (OPEC), notably the US, are pumping …

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Yen Slips On BoJ’s Continued Loose Policy Expectation

Fundamental Analysis * BoJ’s Ultra-Loose Policy Hopes Soar: The Japanese Yen continue to weaken against the greenback amid anticipations that the Bank of Japan (BoJ) will maintain its expansionary policy stance during the upcoming meeting on Tuesday. Currently, numerous underlying factors support the possibility of the BoJ moving away from negative interest …

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WTI Surges On Inventory Dips And Geopolitical Woes

Fundamental Analysis * Fueling Momentum: The price of crude oil has soared as supply concerns intensified and rising geopolitical risk that threaten to underwhelm supply. The US Energy Information Administration (EIA) revealed that crude oil stockpiles fell by 1.5 million barrels in the prior week, a figure below the anticipated 1.34-million-barrel rise …

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USD/JPY Drops On BoJ’s Negative Rate Exit Speculation

Fundamental Analysis * Firm Rate Hike Bets: USD/JPY continue to extend its losing streak amid increasing expectation that the BoJ will shift away from its expansionary interest rate stance in the March monetary policy meeting. BoJ officials have suggested a prolonged period of favorable wage trends, aiming to maintain inflation consistently above …

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Gold Soars As U.S Jobs Data Boost Early Rate Cut Bets

Fundamental Analysis * Rate Cut Anticipation Imminent: The gold price has skyrocketed to a record high as U.S jobs data fueled expectation that the Fed could initiate interest rate cuts soon. Friday’s data revealed that the U.S. economy added 275,000 jobs last month, surpassing economists’ expectations of 160,000 new jobs. Despite the …

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Trade Of The Day: Pound Surges Post-Fed, BoE Rate Cuts Expected

Fundamental Analysis * Post-Fed Rate Cut Hopes: The Pound Sterling has exhibited strength against the US Dollar, driven by investor optimism regarding potential interest rate cuts by the Bank of England (BoE) after rate cut by the Federal Reserve (Fed). Market consensus anticipates rate adjustments during the upcoming June and August policy …

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Navigating Trading Losses With Our Easter Promotion

Are trading setbacks leaving you feeling discouraged and uncertain about the future of your investments? It’s time to turn those losses into opportunities with PU Prime’s exclusive Easter promotion. Discover how you can navigate trading losses and rejuvenate your portfolio with our special offers and strategies. Key Takeaways * Turn trading setbacks …

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Trade Of The Day: Euro Soars On Upbeat Data And Powell’s Remarks

 Fundamental Analysis Eurozone Booms: Powell Sparks Buzz: The EUR/USD climbs to five-week high after the release of Eurozone Retail Sales data showed shoppers continued spending liberally in January and Fed’s Powell affirms hopeful inflation outlook. On the data front, Eurozone Retail Sales experienced a milder-than-expected decline of 1.0% at the beginning of …

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Trade Of The Day: Loonie Weakens Ahead of BoC Rate Decision

Fundamental Analysis BoC Buzz: USD/CAD surges to a three-month high following a gloomy market sentiment while market participants waiting for Bank of Canada’s interest rate call which will be announced on Wednesday. The Bank of Canada is anticipated to maintain the current interest rate at 5% for the fifth consecutive time. As …

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Trade Of The Day: Oil Price Fell On Weak Demand Concerns

Fundamental Analysis Warm Winter Chill: Crude oil price saw a modest decline on Monday with anticipated prolonged voluntary output reductions by the OPEC+ coalition through mid-year being offset by challenges in demand. Despite OPEC+ announcement to extend cuts, the ending of mild winter in the Northern Hemisphere which could reduce demand counteracts …

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Trade Of The Day: US Manufacturing PMI Miss, Gold Soars

Fundamental Analysis:  Rate Cut Hopes Reignited: Gold price soared over $2060 after US ISM Manufacturing Purchasing Manager Index (PMI), which fell below expectations. This has reignited optimism among market participants regarding the possibility of the Federal Reserve (Fed) implementing rate cuts sooner rather than later. The U.S Manufacturing PMI declined to 47.8 …

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Trade Of The Day: Is EUR/USD Finally Escaping Consolidation?

Fundamental Analysis German Data Disappoints, Economic Weakness: The EUR/USD lost its upward momentum following a mix of lackluster German Retail Sales and Consumer Price Index (CPI) report that fell short of expectations. January’s German YoY Retail Sales of -1.4% were slightly better than the forecast of -1.5%, reflecting a modest improvement from …

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Should I Trade Forex During The Christmas Season

The festive season isn’t just about jingle bells and merry-making; it’s also a time when the financial markets like the forex market introduce unique market dynamics that demand careful navigation from traders. As Christmas approaches, understanding the nuances of forex trading during Christmas is crucial for capitalising on potential trading opportunities while …

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How Do Contrarian Traders Use A Contrarian Trading Strategy

In the dynamic world of financial markets, a contrarian trading strategy could provide an intriguing approach for traders and investors. Contrarian traders challenge the prevailing market sentiment and seek trading opportunities when others are pessimistic or overly optimistic. By going against the crowd, these savvy investors aim to profit from market reversals. …

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Intensifying Middle East Conflict Bolsters Gold Price

Escalating tensions in the Middle East ahead of the U.S. The President’s visit to Israel cast a shadow. Gold and oil prices rallied amid stalled ceasefire efforts in Gaza. Escalating tensions in the Middle East cast a shadow as the anticipated visit of the U.S. President to Israel looms on Wednesday. Against …

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Dollar Softens As Middle East Tension Eases

U.S. President Joe Biden’s upcoming visit to Israel signals a show of support, bolstering market confidence. Amid escalating Middle East tensions, Western allies have intensified diplomatic efforts. U.S. President Joe Biden’s upcoming visit to Israel signals a show of support, bolstering market confidence. Equities surged, reflecting improved risk appetite, while traditional safe-havens …

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How Is The Israel-Hamas War Affecting Oil And Gold Prices

What Is The Israel-Hamas War About? The Gaza-Israel conflict, commonly referred to as the Israeli-Palestinian conflict, is a protracted dispute between Israel and the Palestinian organisation Hamas. The conflict has gone on tumultuously for decades, but Hamas decided to launch an unprecedented attack against Israel on 7 October by deploying armed troops …

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Dollar Mutes Ahead Of Nonfarm Payroll

Before the release of Nonfarm Payroll, U.S. equity markets exhibited a subdued stance, mirrored by the sideways movement in the dollar index and gold prices. U.S. equity markets exhibited a subdued stance, mirrored by the sideways movement in both the dollar index and gold prices, all eyes turned toward the eagerly anticipated …

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Understanding What Is Swing Trading For Beginners

The Swing trading strategy is a popular trading method that aims to capture short- to medium-term price movements in the financial markets. Some of the reasons why traders choose to use swing trading strategies include the capability of generating more frequent profits from shorter-term price fluctuations within a broader market trend, and …

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Understand The Pros And Cons Of CFD Trading

CFDs Are Great For Speculating On Price Movements But There Are Risks CFD trading allows you to speculate on the price movements of various financial instruments, such as stocks, indices, commodities, and currencies, with the added benefit of leverage. However, CFD, which is the short form of Contract For Differences, also carries …

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Yen Strengthens With Possible BoJ Policy Tweak

BoJ Governor Ueda suggests that by year-end, sufficient data will be available to evaluate the sustainability of wage growth and inflation in Japan. Bank of Japan (BoJ) Governor Ueda’s hawkish statements over the weekend have contributed to the strength of the Japanese Yen during the Asian morning session. Ueda mentioned that the …

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Can Position Trading Be A Long-Term Investment Strategy?

Position trading is a popular investment strategy that allows traders to take advantage of long-term market trends. By holding positions for extended periods, position traders aim to capitalize on significant price movements and maximize their investment returns. Unlike short-term trading or day trading, which focus on quick profits from short-lived price fluctuations, …

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Aussie Dollar Gains Ahead Of RBA Rate Decision

The disappointed PMI reading indicates a lack of optimism in the manufacturing sector Investors await the RBA’s interest rate decision, expecting a 25 bps rate hike. Despite Australia’s CPI dropping to 5.6%, it remains distant from the 2% target. Meanwhile, the Purchasing Managers’ Index (PMI) readings in both the United States and …

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What Is A Breakout Trading Strategy

Breakout trading strategy has gained significant popularity among traders seeking to capitalize on powerful price movements in financial markets. By identifying key breakout points, traders can ride the wave of momentum and potentially increase their chances of success. In this comprehensive guide, we will explore the ins and outs of a breakout …

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Powell Signals Higher Rates

On the first day of Jerome Powell’s two-day testimony before the House, the Federal Reserve Chair delivered a semi-annual monetary policy report. The equity markets and the dollar both experienced declines as Powell took a hawkish stance, stating that the central bank would need to raise interest rates further to curtail U.S. …

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US Federal Reserve Signals June Hike Skip

Focus has shifted from the US debt ceiling back to macro data and the Fed’s benchmark interest rate The dollar experienced its largest daily decline in almost a month as U.S. manufacturing data and statements from Federal Reserve officials reinforced expectations of a potential interest rate hike delay. Meanwhile, the euro rebounded …

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Is The Fed Skipping The June Rate Hike?

Over 70% of punters are now betting on a hike pause at the upcoming FOMC meeting The focus of attention is currently directed towards the U.S. Senate, where the passage of the debt limit is being closely observed. Concurrently, senators are engaged in debates concerning 11 amendments to the bill. The value …

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Biden-McCarthy Talks Productive

Both President Biden and the House Speaker claimed that yesterday’s meeting on the debt-limit bill has a productive outcome but both parties are yet to come to an agreement. Meanwhile, U.S. treasury secretary Janet Yellen, reiterated that the department will run out of cash in early June. The dollar index has strengthened …

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Understanding Indices Trading And How To Trade Them

Indices trading can provide several benefits to traders, which includes allowing diversification of trade, access to multiple major markets and cost effectiveness. Find out exactly what indices trading is and how to trade indices in this comprehensive guide.  What Are Indices Indices are key indicators in the financial markets, serving as a …

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Nasdaq Leads Wall Street Rally as US Tech Earnings Shine

The tech-heavy index is up over 2.7% on the day, with companies like Meta Platforms leading the rise Nasdaq led a Wall Street rally driven by robust earnings from US tech firms, despite concerns over US economic growth. Meta Platforms saw the biggest gains after forecasting quarterly revenue above estimates, citing AI’s …

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What You Need To Know About CFD Trading

Content: How Do CFDs WorkWhat Are The Advantages Of CFDs?What Are The Risks Of Trading CFDs?Calculating Profits And LossesWhat Are The Costs And Fees Incurred In CFD Trading?Leverage And MarginRegulation And Choosing A CFD ProviderCFD Trading Strategies To Consider After Selecting Your Best Broker How Do CFDs Work In the ever-evolving landscape …

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4 Benefits Of Using MT4 For Forex Traders

The MetaTrader 4 (MT4) trading platform is widely used by forex traders all over the world, due to its ample benefits. Here are reasons why Forex Traders should use MT4 as their trading platform. MT4 Provides Great And Extensive Tools The MT4 platform contains more than 30 native technical indicators that reveal …

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Geopolitical Headwinds Overshadow Crude Inventory Drop

On Wednesday evening, the EIA Crude Oil Inventories was released, with a draw of 5.4 million barrels – almost 5 million higher than the expected draw of 440,000 barrels. This puts current inventories at 435.4 million barrels, 4% below the 5-year average for this time of the year.  Normally, a larger-than-expected drop …

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Understanding The Basics Of Fundamental Analysis

When formulating a trading strategy, traders employ various tools that can be broadly classified into two types of analysis methods: technical analysis and fundamental analysis. Although there are differing opinions on each approach, there is no definitive answer as to which trading strategy is “superior.” Each analysis method has its own advantages, …

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How to Use PU Prime’s Resources to Become a Better Trader

While PU Prime puts a vast amount of resources at your disposal, the large amount of information available might be a little daunting to navigate for the beginner trader. Here, we break down the available resources, and how you can use them to make informed decisions about your trading. Educational Info No …

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The 5 Most Common Mistakes Made By Beginner Forex Traders

Most Forex Traders Who Are Just Starting Forex Trading Tend To Make Mistakes Becoming a forex trader and entering the world of forex trading can be an exciting endeavor. It’s a market brimming with potential and opportunities. However, for many beginner forex traders, the journey is often marked by a series of …

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How to efficiently managing risk

Any analyst or trading guide will tell you how important it is to manage your risk. However, how does one go about managing that risk? And what exactly do they mean by managing risk? Here is a step-by-step guide to one of the most important concepts in financial trading. 1. Determine Your …

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What is currency

Currency, or foreign exchange, often abbreviated as forex or simply FX, refers to the exchange of global currencies on a decentralised market place – also known as over the counter (OTC) currency exchange. The foreign exchange market is the largest and most liquid market in the world, with an average daily trading …

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