Orbex - Forex Trading Library

Despite inflation coming down below 4.0% last month, the BOC is expected to deliver another rate hike when it meets later today. Both headline and core inflation have continued to fall, even with a 5-month pause. But the blip up in prices…
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GBPUSD breaks higher The pound advanced after resilient UK wage growth put pressure on the Bank of England to tighten policy. A new high above 1.2850 suggests a bullish continuation after a near four-week long consolidation. Such an…
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The consensus among economists is that inflation in the US fell dramatically last month. But that might not be enough to convince the Fed to desist from a rate hike later this month. The forecast also sees core inflation remaining high. The…
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USDJPY breaks support The yen bounces across the board over concerns of a potential BoJ intervention amid an oversold market. The pair cut through the round number of 142.00 which sat at the confluence of the 30-day SMA and a…
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As the BOE keeps hiking rates, it could be running out of room to keep tightening. Inflation still more than quadruples the target rate despite hiking for over a year. Now the worry is that the tightening can push the UK into a recession.…
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EURUSD tests recent peak The US dollar plunged after job growth slowed in June. The pair previously found support over 1.0840 at the base of a bullish momentum back in mid-June, which coincided with the 30-day SMA. The directional bias…
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USDCAD consolidates ahead of BoC hike The Canadian dollar pulled back as the market underpriced the possibility of a rate hike. However, recent economic data have left the door open for the BoC to lift interest rates at the upcoming…
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Earlier this week, China announced export curbs on two key metals used in the chip and solar industries. The direct impact on foreign exchange markets wasn't immediately evident, but typically trade and geopolitical issues tend to be…
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NZDUSD breaks lower The US dollar jumped after a strong ADP employment reading. A rally above the previous swing high of 0.6200 has prompted some sellers to trim their exposure and eased the pressure on the kiwi. 0.6220 is the key…
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Economists are more optimistic about how many jobs were created in the US last month. But, that might be an over-correction from consistently underestimating the resilience of the labor market this year. But, there are other factors that…
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