2024.08.08 2024.08.08 Order Book: Concept, Operating Principle, and Depth of Market (DoM) Oleg Tkachenkohttps://www.litefinance.org/blog/authors/oleg-tkachenko/ The price of an asset is shaped by supply and demand, and traders make their decisions based on their ratio. A list of buy and sell orders for a specific security or currency arranged according to a price level is known as the order book,…
The BOC shared that the economy is seeing a cooling labour market. Will July’s employment numbers support the central bank’s dovish estimates?
Once again, the European session is going to be empty on the data front and the focus will be on the American session when we will get the latest US jobless claims figures. We will also hear from Fed’s Barkin late in the day and the market will likely be attentive to comments regarding the recent volatility and economic…
Gold prices rose in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 21,438.26 Pakistani Rupees (PKR) per gram, up compared with the PKR 21,337.62 it cost on Wednesday. The price for Gold increased to PKR 250,040.20 per tola from PKR 248,877.80 per tola a day earlier. Unit measure Gold Price in PKR…
2024.08.07 2024.08.07 US Dollar May Gain Traction amid Market Turmoil. Forecast as of 07.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The US dollar has used the current market volatility to its advantage. Market panic has eased, and the EURUSD pair is at risk of falling below 1.09 due to an absence of recession in the US and investors overestimating the extent of the…
EUR/NZD seems to be done with its climb, as the pair is forming a reversal pattern on its 4-hour time frame. Are we about to see confirmation soon? EUR/NZD 4-hour Forex Chart by TradingView After a couple of failed attempts to bust through the resistance at the 1.8500 major psychological handle, EUR/NZD is now testing the neckline support around…
Reserve Bank of Australia Governor Bullock more to come Vigilant to inflation risks, will not hesitate to hike if needed. Repeats, board judged current rates still meet its inflation mandate. Don’t expect to be back in 2–3% target range until end of 2025. Investment in renewable energy in regions should bring significant economic benefits. Renewables needed to mitigate the…
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1460, as against the previous day’s fix of 7.1386 and 7.1821 Reuters estimates.
2024.08.07 2024.08.07 Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 07.08.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Highlights and key points BTCUSD: correction is expected to develop. Consider long positions from the current level with Take Profit at 57883.91….
The Canadian dollar (CAD) strengthened against the U.S. dollar (USD), and reached a two-week high as market volatility eased. With the turmoil fueled by the deleveraging of yen-funded trades and uncertainty around U.S. interest rate cuts now calming, market participants are regaining confidence in the CAD. However, the Bank of Canada remains cautious about the nation’s economic future, citing…
