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FMO Traders
DXY Buyers made a break for it early last week following a period of consolidation. Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength. Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar. Should...
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Brexit turmoil has helped condemn Britain’s economy to its first quarterly slump in more than six years, official figures reveal today. Output fell by 0.2 per cent between April and June, leaving the country “teetering on the edge of recession”, shocked City economists said. The fall in GDP was far worse than forecast and sent...
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DXY The Federal Reserve cut rates by 25 basis points and the move higher following the decision looked like exhaustion. After temporarily breaking the May swing highs, sellers came in force as price produced a fake out. Phase 2 on the daily is now in full swing. Wait for this to complete before another potential...
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The FTSE 100 has tumbled at the open, falling by 1.6 per cent, after US President Donald Trump vowed to impose a 10 per cent tariff on $300billion of Chinese imports from September. Meanwhile in company news, Royal Bank of Scotland has unveiled a bumper £1.7billion payout for shareholders, delivering a surprise windfall for the...
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The FMO team were also asked to comment for leading Spanish website Bolsamania. Después de más de diez años, la Reserva Federal (Fed) ha cambiado su política monetaria y ha bajado los tipos de interés. El banco central estadounidense ha reducido las tasas en un 0,25%, hasta la horquilla del 2%-2,25%, algo que no sucedía desde diciembre de...
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The US central bank duly delivered its first interest rate cut in a decade but two members of the policy-making committee were not in agreement with the decision. US markets fell off a cliff yesterday following the Federal Reserve’s first rate cut in a decade but UK investors are in more sanguine mood. Ahead of...
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AUDUSD Seasonal weakness set in from the start of the week as price broke the previous daily low and fell back in the weekly channel. Continue to look for intraday sell set ups this week. Daily traders wait for Phase 2 which is more likely to happen after another push by sellers this week.  ...
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The European Central Bank left its key interest rates unchanged, sending the euro plunging FTSE 100 down 8 points European Central Bank makes no change to its key interest rates US markets open lower The European Central Bank has all but confirmed it will cut its ratess next month, prompting a sell-off of the euro....
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GBPUSD Price fell and bounced back up again for the fourth time off the lower daily trendline. Commercials increased their long positions again and Spec shorts are quite high also. There is clear run now till the end of the month in terms of central bank meetings (FED and BOE) so I favour a further...
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The Footsie has spent most of the afternoon hovering around the 7,500 level, nursing a loss that has much to do with sterling’s recovery. Rajan Naik, a director of Financial Markets Online, said that “sterling is rejoicing” after an amendment was passed in the House of Commons designed to further complicate any attempt to prorogue...
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