The dollar-yen is back at the level that decides everything. USD/JPY rebounded to around 158.30 on Friday, November 6, snapping a two-day losing streak after October's U.S. jobs report crushed forecasts — 165,000 jobs added against roughly 65,000 expected. The pair had touched an intraday low of 157.26 before the data; by the New York close it was trading near 158.50, up about 0.5% on the...
Most forex losses do not come from a bad chart reading. They come from a surprise. A trader opens a neat EUR/USD position at noon, and at 1:30 in the afternoon a US jobs report lands, the dollar jumps 80 pips in a minute, and the stop-loss is gone before the trader even sees the headline. The economic calendar exists so that never has to be a surprise again. It is a schedule of every government...
The US dollar kept sliding on Thursday as the Bank of England raised interest rates to 4.00% — its first hike since August 2023 — and the post-midterm dollar sell-off rolled into a second day. The dollar index fell toward 101.25, its lowest since September 30, while the euro, the pound and gold all pushed higher.
The Bank of England's decision, taken by an 8-to-1 vote, lifted its...
Gold reclaimed $4,000 — then pushed past $4,100. It rose 3.63% from Tuesday's close of $3,921.34 to $4,063.84, its first close above $4,000 since October 29, after a low of $3,914.40 and a high of $4,070.43. Friday's close had been $3,875.18, so the round trip — below $4,000, then back above it in a single session — is a sharp reversal. By the Asian session on November 5, gold...
Sterling goes into Thursday with the market almost fully convinced of the outcome — and that is precisely why the decision still matters. The Bank of England announces its next rate decision on Thursday, November 5, with Bank Rate currently at 3.75%. Markets and several large banks expect a rise of 25 basis points to 4%, which would be the first increase since 2023. GBP/USD traded near...
EUR/USD is trading around 1.1248 on Tuesday, up 0.51% on the day, as traders price a softer U.S. dollar while votes are still being counted in the U.S. midterm elections. The pair is probing the top of its recent range, with 1.1250 and 1.1255 in sight, but the move so far looks more like position adjustment than a decisive breakout.
Gold, meanwhile, is holding near $3,935 after a pullback from...
On US midterm election day, the foreign-exchange market did what it usually does when the outcome is both important and uncertain: very little, loudly. The US Dollar Index traded around 101.70, edging lower below the 102 mark, after touching its lowest level in a month near 101.40 during Monday's European session. The euro traded around 1.1193, gold hovered near $3,929–$3,940, and the yen...
Gold staged a sharp rebound from a one-year low on Monday — then gave part of it back on Tuesday as hot factory data reminded traders the Fed is not done yet
Gold's round trip this week is a textbook case of two forces pulling the same asset in opposite directions. On Monday, gold rose 1.82% to $3,945.88, its first higher close after three lower ones, rebounding from a one-year low near...
A strong factory print that could not save the dollar
The United States dollar pulled back on Monday, November 2, even though the day's main economic release beat expectations. The ISM Manufacturing PMI improved from 54.5 in September to 55.5 in October, against a forecast of 54.6 — a reading above 50 signals expansion, and a beat like that would normally support the currency. It did not,...
The range finally breaks — upward
The range this site's Forex guide mapped just hours ago has broken, and it broke upward. EUR/USD climbed to $1.1234 on Monday, November 2, up about 0.7 percent on the day, after spending the previous session coiled inside 1.1100 to 1.1220. The dollar eased about 0.5 percent against a basket of major currencies to 101.45, touching its lowest in a...
### Why gold trades differently from a currency pair
Gold quoted as XAU/USD — one troy ounce of gold priced in US dollars — is one of the most traded instruments in retail forex, but it does not behave like EUR/USD. A $1 move in gold is $1 per ounce, and a standard lot is 100 ounces, so a $1 move on one standard lot is $100. That single fact explains most beginner mistakes in gold:...
