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Hello fellow traders, In this technical article, we are going to present Elliott Wave charts of AUDJPY Forex pair . As our members know, the pair is showing a 3-wave pullback against the 96.23 low, taking the form of an Elliott Wave Zigzag structure.In the following sections, we will explain the Elliott Wave pattern and […]
The post AUDJPY Elliott Wave Update: Zigzag Formation in Progress appeared first on Action Forex.
NZDCAD: ⬇️ Sell NZDCAD broke support area Likely to fall to support level 0.7850 NZDCAD currency pair recently broke the support area between the support level 0.7950 and the support trendline of the wide weekly down channel from the start of July. The breakout of this support area accelerated the active short-term impulse wave 3 […]
The post NZDCAD Wave Analysis appeared first on Action Forex.
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
The previous close was 7.1210.
PBOC injected 119.9bn yuan via 7-day reverse repos at an unchanged rate of 1.40%.
This article was written by Eamonn Sheridan at investinglive.com.
Bank of Japan policymakers discussed the likelihood of a near-term rate hike at their October meeting, with most members leaning toward tightening if wage momentum and economic conditions stay supportive, according to a summary released Monday.
I put up a piece on the Summary earlier:
Reuters have a recap now, in summary:
Of the 13 policy opinions expressed by the nine-member board, eight called for a rate increase soon or outlined conditions that could justify one. Several members said the Bank must not “miss the timing” to raise its policy rate, while others said a move would depend on confirming that firms’ wage-setting momentum continues and that no major shocks hit the global economy or markets.
At the two-day meeting ending October 30, the BOJ kept its policy rate unchanged at 0.5%, though two members dissented in favour of a hike to 0.75%. Governor Kazuo Ueda said afterward he preferred to see “a bit more data” to confirm that companies will sustain pay increases despite the drag from higher U.S. tariffs.
The summary suggests the central bank is growing more confident about normalising policy but remains cautious about timing, with a focus on verifying wage resilience before taking the next step.
This article was written by Eamonn Sheridan at investinglive.com.
There are at least 8 votes from Senate Democratic caucus in favor of a negotiated deal to end shutdown
Reuters citing unnamed source. This is enough to end the shut down.
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The Senate is in recess until 8pm US Eastern time. It looks like there are now plenty enough votes to reopen the government. Not over ’til its over though I guess. I’ll keep tabs on this until the vote passes. Or not!
The bill will have to go to the House of course, and there is plenty of noise being made about how it’ll face opposition there. I suspect it’ll gt passed, there seems to be enough pressure on now.
This article was written by Eamonn Sheridan at investinglive.com.
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