© Reuters. The Nigerian Naira has continued to depreciate against major currencies, with the exchange rate for a dollar reaching N950 at the Lagos Parallel Market on Friday, September 15, 2023. The Naira also saw depreciation against the British Pound and the Euro, going from N1190/£1 to N1210/£1 and from N995/€1 to N1020/€1 respectively. This
Share: US oil took a small hit on Friday, but is rebounding firmly to hold $90/bbl. OPEC production cuts are squeezing crude prices into the ceiling. The next hurdle for buyers will be pushing crude into $100. West Texas Intermediary (WTI) US crude oil hesitated in Friday trading, dipping to $88.60 per barrel before
It was a fantastic week for our forex strategists as four out of four discussions played out favorably relative to our biases and expectations. Check out the recaps below to see how using fundamental analysis helped our efforts to anticipate price action, which can hopefully help you understand this part of the trading process better
The broader major indices closed sharply lower today led by the NASDAQ index which fell -1.56%. The S&P index fell -1.22%. The declines push the indices into the red for the trading week. The Dow industrial average fell -0.83%. For the trading week, Dow industrial average closed up 0.12% S&P index fell -0.16% NASDAQ index
© Reuters. The Central Bank of Kenya (CBK) has imposed a limit on the amount of U.S. dollars that money remittance firms can sell to customers each day, in an attempt to regulate the market amid declining forex reserves. The directive, which was implemented on Thursday, restricts these firms to transactions of a maximum of
Share: As US economic data strengthens the dollar, GBP/USD trades at 1.2397, slipping below its 200-day Moving Average. Odds for a November rate hike by the Fed stand at 32.45%, while bets on a BoE rate hike toward 6% are scaled back. With U.S. 10-year Treasury yields at 4.326% and a solid US
In the world of financial trading, having the right tools and indicators can make all the difference. One such powerful tool is the Keltner Channel with Signals MT4 Indicator. This indicator provides traders with valuable insights into market trends, helping them make informed decisions. In this article, we’ll delve into the details of the Keltner
Stocks are breathing a sigh of relief after an anxious few days of waiting, now that the major events are out of the way. Wall Street had one of its better days in weeks after a decent retail sales report and a “dovish” hike from the ECB. China’s economy picks up in August: Chinese industrial production
The EUR is ending the day as the strongest of the major currencies. The USD is also mostly higher with gains vs all the major currencies with the exception of the EUR. The JPY and the NZD were the weakest of the majors. The strongest to the weakest of the majors. The gains in the
AUD/USD ANALYSIS & TALKING POINTS Encouraging news from China back AUD. US data in focus later today. AUD/USD faces trendline resistance. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROP The Australian dollar is tentatively pushing higher this morning after being depressed for some time. Chinese economic data (see economic calendar
