GBP/JPY can have tremendous moves during the Asian session, but it's hard for traders located outside the Asian zone to keep up and profit from it. Nevertheless, it keeps moving with its typical volatility around the clock.
In turn, the EUR/USD and the GBP/USD offer nice technical set-ups right at the start of the Frankfurt and London markets which often sets the tone for the rest of the day. These pairs very often display continuation moves, the so-called 'second-legs', during the morning session in New York when both sessions, the European and the American, overlap and many US Dollar related economical news are published.
The reason why we see big moves at the London open is because London is the world's capital of Forex trading, and when those big traders start throwing their weight around, the market responds with volatility. Also U.K. economic indicators are often released at that time of the day, contributing to the overall climate of high volume and volatility. Read More
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Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades slightly near 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold fluctuates in narrow range below $2,320
After retreating to the $2,310 area early Wednesday, Gold regained its traction and rose toward $2,320. Hawkish tone of Fed policymakers help the US Treasury bond yields edge higher and make it difficult for XAU/USD to gather bullish momentum.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.
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