Online Trading Academy Team
Online Trading Academy
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Summary
With most trading instruments, you are usually buying or selling one security at a time. With Forex, you are actually trading two at a time! In this lesson we look at the mechanics behind spot Forex trading and also explain the various trading sessions that take place around the clock.
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EUR/USD falls amid Sino-American tensions ahead of Non-Farm Payrolls
EUR/USD is trading around 1.1850, down amid a risk-off mood stemming from President Trump's move against China's TikTok and WeChat. Tension is mounting ahead of the highly uncertain Non-Farm Payrolls.
USD/JPY clings to modest gains above mid-105.00s, focus remains on NFP
USD/JPY gains some positive traction on Friday and moves way from weekly lows. A goodish pickup in the USD demand seemed to be the only factor lending support. A combination of negative factors might cap the upside ahead of the US jobs report.
GBP/USD retreats amid doubts about the furlough scheme, dollar strength
GBP/USD is struggling around 1.31 as UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever. The dollar is gaining ground amid geopolitical tensions ahead of the Non-Farm Payrolls.
Gold consolidates near record highs, flat-lined around $2060 area ahead of NFP
Concerns about escalating US-China tensions pushed gold to fresh record highs on Friday. A goodish pickup in the USD prompted some profit-taking amid overbought conditions.
WTI drops 1% to $41.50 ahead of US NFP, rigs data
WTI (futures on Nymex) is on a steady decline so far this Friday, undermined by reduced demand for higher-yielding assets amid the renewed US-China tensions induced risk-aversion.