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The dollar edged higher against the other major currencies on Tuesday, even as comments by a Federal Reserve official on Monday sparked fresh uncertainty over the timing of future U.S. rate hikes.The dollar came under pressure after Fed Governor Lael Brainard warned against raising interest rates too quickly.In a speech on Monday, Brainard says economic progress continues in the U.S., but the Fed would be wise to continue keeping policy loose.The comments came after Boston Fed President Eric Ros…
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Support and Resistance
The concepts of support and resistance are two of the most important concepts that a trader needs to understand. They are often regarded as a subject that is complex by those who are just learning to trade. This webinar will attempt to clarify the complexity surrounding these concepts by focusing on the basics of what traders need to know. You'll learn that these terms are used by traders to refer to price levels on charts that tend to act as barriers from preventing the price of an asset from g…
FX Consolidation Resolved In Favor Of Weaker U.S. Dollar
The robust US jobs report at the end of last week had arrested the down draft seen the previous week in response to the disappointing Q2 GDP report. The mostly sideways movement has given way to a broader pullback today. The greenback is heavier against all the major and most emerging market currencies today.There does not appear to be a fundamental driver, which does not mean that the dollar's losses cannot be extended.The US economic calendar is light with …
In An Otherwise Uneventful FX Market, GBP Slips To 4
In an otherwise uneventful foreign exchange market,sterling's slide for its fifth consecutive session is the highlight. It was pushed below $1.30 for the first time since July 12. Initial resistance for the North American session is seen near $1.3020, while the $1.2960 area corresponds to a minor retracement objective.Sterling has been sold-off since the middle of last week.Today's data may have simply provided a little more ammo for what the market was already doing. .There were three reports t…