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Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

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Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

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PE ratios: What they tell you (and what they don’t)

What is a P/E Ratio? The Price-to-Earnings (P/E) ratio is a indicative valuation metric that measures a company's current share price relative to its earnings per share (EPS).  It is relatively simple calculation and is simply worked out through dividing the current share price by the Earnings per share. There are two common variations of...

August 25, 2023
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AUDUSD Reacts in Anticipation of Fed Chair Powell’s Talk

In yesterday’s session, the AUDUSD pair experienced a decline of nearly 1%, erasing the gains it had achieved over the past few days. This retracement arrives as the USD displays signs of renewed strength ahead of an upcoming speech by Fed Chair Jerome Powell. Market participants are eagerly awaiting Powell's remarks for to see if he drops any hi...

August 25, 2023
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FX Analysis – USD rallies as markets turn risk-off ahead of Jackson Hole

USD was higher on Thursday, with The Dollar Index bouncing back strongly from Wednesdays decline, breaking through the resistance level of 103.60 to touch on the weekly highs at the big 104 level and hitting overbought levels on the daily RSI. Market risk-off, rising yields and a lower than forecast jobless claims figure giving the USD a boost as g...

August 25, 2023
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FX analysis – USD drops, Gold pops on soft data, falling yields

A raging US equity market fuelled by soft data, a drop in treasury yields and blowout earnings from NVDA (which saw its stock price hit an all-time high) saw risk-on trading through Wednesdays session. USD was choppy on Wednesday with an initial rally in DXY, which saw it briefly pierce the major resistance at 103.60, dramatically reversing cour...

August 24, 2023
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USDJPY – Will the BoJ Intervene?

In 2022, it was believed that the Bank of Japan (BoJ) intervened three times, in September when the USDJPY was at 145.80, and in October and November when the USDJPY was at the 151.50 and 146.50 price levels respectively. For each of the 3 interventions, the USDJPY reversed strongly by more than 500pips. With the recent steady climb in the USDJP...

August 23, 2023
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EURUSD tests near term support

After reaching the high of 1.1250, last tested in 2022, the EURUSD has been trading steadily lower and currently sits along the 1.0850 support level, formed by the 61.8% Fibonacci retracement level and the previous swing low from early July. Looking at the technical aspects, the Ichimoku cloud indicates continued bearish pressures, with the top ...

August 23, 2023
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FX analysis – Euro lower ahead of PMIs – AUD, JPY and Gold stumble higher

USD was mostly firmer in Tuesday’s session as a mixed equity markets saw some slight risk-off conditions. Also support USD was rates markets shifting hawkishly (September meeting now pricing a 16% chance of a hike) ahead of Jackson Hole and Fed Chair Powell speaking on Friday. Fed member Barkin spoke but added little new, as he noted consumer spe...

August 23, 2023
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Asian Open FX Analysis – EUR, JPY, AUD, USD

Despite runaway US treasury yields which saw 10-year yields hit their highest level since 2007, the USD was flat in Monday’s session as it seems improved risk sentiment and a technically overbought Dollar Index (DXY)held it in check. DXY traded within a tight range with a low of 103.13 and a high of 103.50, where it was again rejected at the majo...

August 22, 2023
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Navigating the Curve: Backwardation and Contango in Futures Markets

Backwardation and contango are terms used in the context of futures markets to describe the relationship between the prices of futures contracts with different expiration dates for a specific underlying asset, such as commodities, currencies, or financial instruments. In this article, we aim to explain these terms within the context of futures cont...

August 21, 2023
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Upcoming Nvidia earnings: Has the AI hype cooled?

Nvidia has been the star of the US markets since the AI hype kicked off late 2022. The trillion-dollar chip manufacturer’s shares have almost tripled in 2023 alone, with the price increasing every month so far this year. In May, Nvidia surprised the markets by posting earnings and revenue figures well above analysts’ expectations. This se...

August 21, 2023
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Look before you leap …FIVE reasons why a low PE Ratio may be a reason NOT to jump in

What is a PE Ratio, and Why is It of Interest to Investors? The Price-to-Earnings (P/E) ratio is a metric that measures a company's current share price relative to its earnings per share (EPS). It's a relatively simple calculation, worked out by dividing the current share price by the Earnings per Share. Traditionally, it has been used as a p...

August 20, 2023
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FX Analysis – CNH strengthens on intervention talk – JPY breaks losing streak – Gold breaks key support

FX WRAP USD was choppy with the US Dollar Index ending the session flat in range bound trade. Unemployment claims dropped to 239k from 250k the prior week which was in line with consensus and having little effect on the USD, though Philly Fed Manufacturing figures did have a big beat coming in at +12.0 vs an expected -9.8, which was the highest ...

August 18, 2023
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Market responses to actual versus consensus numbers in data releases

As traders and investors one of the important facts you need to get to grips with is the difference between Consensus (sometimes termed “expected”) and actual data. Variations in these can have a profound impact on asset prices and so are often part of your decision-making.   In financial markets, the "consensus" refers to the average or m...

August 16, 2023
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Bid-Ask Spread explained: What Traders Need to Know

The bid-ask spread is the difference between the highest price a buyer is willing to pay for an asset (the bid) and the lowest price a seller is willing to accept to sell it (the ask or offer).  This spread is a fundamental element of market liquidity and represents the transaction cost that traders need to consider when entering and exiting po...

August 14, 2023
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Aussie dollar has room to fall if the current support level fails.

The AUD/USD pair has had a tough month, falling relatively consistently since mid-July. This decline can be attributed to several factors, most notably the strengthening of the USD driven by the Federal Reserve's firm commitment to ‘higher for longer’ rates, aimed at taming inflation to meet target levels. Another contributing factor to the ...

August 14, 2023
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