Merlin Rothfeld
Online Trading Academy
Aside from being an accomplished musician, Corey Lane is also a very accomplished Trader! Corey joins Merlin to talk about his style of trading options, and how the market dictates his trading style. He shares with listeners some strategies that are working well in the current market environment, as well as showing some examples for viewers.
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Editors’ Picks
EUR/USD onsolidates around mid-1.1800s as traders keenly await FOMC Minutes
The EUR/USD pair struggles to capitalize on the previous day's goodish rebound from the 1.1800 neighborhood, or a one-and-a-half-week low, and consolidates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1800s, nearly unchanged for the day.
GBP/USD bounces off lows, retargets 1.3550
After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.
USD/JPY is looking for direction around 153.00 with key US data in focus
USD/JPY reversal from 153.70 has been contained above 152.70 on Tuesday. Major currencies are trading within narrow ranges amid thin trading volumes. Investors await the release of the US GDP and PCE Inflation figures to make decisions.
Editors’ Picks
NZD/USD slides toward 0.6000; RBNZ Breman's presser eyed
NZD/USD is meeting fresh supply and closes in on 0.6000 early Wednesday, in an initial reacton to the Reserve Bank of New Zealand's (RBNZ) expected interest rate on hold decision. The RBNZ kept the OCR unchanged at 2.25%. The focus is on Gowernor Breman's debut at press conference.
AUD/USD consolidates below 0.7100 as traders await FOMC Minutes
AUD/USD struggles to capitalize on the previous day's bounce from over a one-week low, trading under 0.7100 in Wednesday's Asian session. Traders await more cues about the US Fed's rate-cut path before placing fresh directional bets. Hence, the focus will be on the FOMC Minutes, due for release later today, which will drive the US Dollar and the currency pair. In the meantime, the RBA's hawkish stance and a generally positive risk tone might continue to cap the Aussie's downside amid hopes for additional stimulus from China.
Gold bounces back toward $4,900, looks to FOMC Minutes
Gold is attempting a bounce from the $4,850 level, having touched a one-week low on Tuesday. Signs of progress in US–Iran talks dented demand for the traditional safe-haven bullion, weighing on Gold in early trades. However, rising bets for more Fed rate cuts keep the US Dollar bulls on the defensive and act as a tailwind for the non-yielding yellow metal. Traders now seem reluctant ahead of the FOMC Minutes, which would offer cues about the Fed's rate-cut path and provide some meaningful impetus.
DeFi could lift crypto market from current bear phase: Bitwise
Bitwise Chief Investment Officer Matt Hougan hinted that the decentralized finance sector could lead the crypto market out of the current bear phase, citing Aave Labs’ latest community proposal as a potential signal of good things to come.
UK jobs market weakens, bolstering rate cut hopes
In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.
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