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US Dollar Index rose to 2-day highs near 94.20 ahead of data

• DXY starts the week on a positive note above 94.00. • US 10-year yields cling to gains around 1.60% on Monday. • Industrial Production, NAHB Index, Fedspeak come up next. The US Dollar Index (DXY), which gauges the greenback vs. a bundle of its main competitors, begins Monday’s session on a positive footing around …

Oil: No justification for $100 – OCBC

WTI and Brent are over $82/bbl and 84/bbl, respectively. How much higher can oil go? Howie Lee, Economist at OCBC Bank, remains highly sceptical about $100 oil. Pre-shale days are far away “Many are looking at oil’s price chart and pointing out the lack of notable resistance levels from here to $100 for their $100-oil …

USD/CNH faces further retracement near term – UOB

According to FX Strategists at UOB Group, losses in USD/CNH could accelerate on a break below 6.4240. Key Quotes 24-hour view: “We highlighted yesterday that the weakness in USD could ‘retest the 6.4240 level before stabilization can be expected’. However, USD traded between 6.4273 and 6.4391 before closing at 6.4350 (+0.10%). The quiet price actions …

USD/CAD to slow down its decline in the week ahead – ING

CAD’s rally continued this week, with USD/CAD breaking decisively below 1.24. Economists at ING believe USD/CAD downside potential should be more contained in the week ahead. Inflation set to confirm the need for tapering “We think that a headline rate around 4.0% should allow markets to further reinforce their view around the prospect of the …

Is the Stock Market Crash of 2020 Over?

The strong and sharp sell-off in stock markets triggered by the coronavirus pandemic in February / March 2020 is unlikely to end soon, regardless of relief rallies and stimulus packages. Technical and fundamental analyses suggest that the bear market in stocks is likely to continue until markets have dropped by 50% from their all-time high …

Do I Pay Tax on Forex Trading in the UK?

Is Forex trading tax-free in the UK? At the time of this writing, spread betting profits are generally not taxable in the UK. Profits from trading CFDs however, are taxable. However, there may be exceptions to these rules, as outlined below. There is a ‘grey area’ within the complex topic of this question. In the …

Forex Trading During a World Crisis

There are times when markets are really wild and crazy. Some will tell you these are the times to stand aside. Yet there is a way to trade these markets profitably – you just have to change your thinking and understand what is going on.   Normal, Crisis, or “Normal Crisis”? Human beings have two …

How to Use the Weekly Time Frame in Forex Trading

One of the main reasons why most Forex traders lose money is a failure to trade based upon longer-term, higher time frames such as the weekly time frame. This article explains why and how to use the weekly time frame in your Forex trading, and outlines both rules and actual historical performances of a few …

How Much Money Do I Need to Start Trading Forex?

Although some Forex brokers will let you start trading with as little as $1, you will need to deposit at least $12 with a broker offering nano lots or $120 with a broker offering micro lots in order to day trade safely. The amount of money you need to start will depend upon your broker’s: …

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