In the short-term at least it might be best not to play for further falls much below the recent daily-chart low. Now that we have the Boris Johnson speech enigma out of the way, the pound can find some form of more basic reaction to economic data once again.
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October 2, The dollar index which measures the greenback against a basket of major currencies finished higher for the fourth consecutive day. DXY settled at a three-week high of October 1, Major U. Dollar Rallies on Upbeat U. September 28, The dollar index which measures the dollar strength against a basket of currencies rose to a two-week high of The dollar rally started when the Federal Reserve raised interest rates by 25 basis point on Wednesday.
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O'Neil Book Investing Neely 16 PDF. Master the Market with Confidence, Discipline Mark Douglas Book. Antonopoulos Book. Sign-In Create an Account. Forex for Beginners For Beginners. Tokyo's main index falls on the day - Session high 24, See Adam's comments here. Then yesterday, on Tuesday, Jerome Powell spoke at the North American Business Economics forum in Boston and echoed his earlier comments post the rate statement.
See here and here. The Federal reserve is now on path to keep hiking rates until the data indicates otherwise. Now, the market has been focusing on wage numbers above the jobs numbers, so the release figures need to factor in that market preference. A good jobs number and a bad wages number is not the good data that is needed to keep momentum going. A good release is across both jobs and wages. The expectations are pretty good and the USD is likely to remain bid into Friday. Some entry ideas for option 1 above are here outlined below on the 1 hr chart with the daily pivot and EMA on the 1 hr chart providing an excellent potential location for longs.
Other entries are available too folks, but this is just to get the ball rolling for you ;-. Italy's Conte is to meet with key ministers over budget at GMT Italian prime minister Giuseppe Conte schedules another budget discussion The latest news is that Italy will still go ahead with a 2. So far, that is helping to soothe euro bulls and that will help give Italian bonds a lift at the start of trading later no doubt.
However, the issue here is that the target is something for two to three years down the road. They could be angling at trying to win over the EU with such a proposal but next year things may well be very much different to what the proposal here sets out to be. For some context, the previous government had initially sought for a budget deficit of 0.
Look where we are now. Italian prime minister Giuseppe Conte schedules another budget discussion However, the issue here is that the target is something for two to three years down the road. Lega party source adds more credence to earlier Italy budget reports According to a Lega party source cited by Reuters.
It's very much repeating the earlier reports by Corriere and Republicca. Looks like it's going to be a good start to the day for Italian bonds later on. According to a Lega party source cited by Reuters - Budget deficit target planned for 2.
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Lessons for traders courtesy of Amazon's Jeff Bezos https: Jeff Bezos is the richest person in the world. Italy reported to lower deficit target to 2. Italian bond investors be like According to a report by Repubblica - Lower deficit aims are probably not the only change to the current plan ForexLive That adds further backing to the story by Corriere earlier. Although London is still the key financial hub in Europe now, things may change post-Brexit as Frankfurt looks to compete for that status.
Are buyers jumping the gun on the latest Italian budget news? The thing about a report like that and the reaction seen here is that it tells you a lot about market positioning.
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