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Summary

As with any new skill, there are pitfalls to avoid on the road to mastery. In this session we address some of the common mistakes Forex traders make and offer suggestions to bypass these expensive learning lessons.

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Editors’ Picks

EUR/USD stays in red below 1.0850 after weak German and EU PMI data

EUR/USD stays in red below 1.0850 after weak German and EU PMI data

EUR/USD stays on the back foot and trades in negative territory below 1.0850. Preliminary July PMI data from Germany and the Eurozone came in below analysts' estimates, making it difficult for the Euro to find demand. Focus now shifts to US PMI report.

EUR/USD News

GBP/USD remains pressured below 1.2900, UK/ US PMIs eyed

GBP/USD remains pressured below 1.2900, UK/ US PMIs eyed

GBP/USD remains under pressure below 1.2900 early Wednesday. Broad risk-aversion offsets the USD/JPY decline-driven US Dollar weakness, rendering negative for the pair. The focus now shifts to the UK and US S&P Global PMI readings. 

GBP/USD News

Gold stays hopeful above $2,400, as US PMI data loom

Gold stays hopeful above $2,400, as US PMI data loom

Gold price is looking to build on the previous rebound above $2,400 in Asian trading on Wednesday, despite a buoyant tone seen around the US Dollar and the US Treasury bond yields. Gold traders now look forward to the global preliminary business PMI data for fresh trading impetus.  

Gold News

PEPE price poised for a rally after retesting trendline support

PEPE price poised for a rally after retesting trendline support

PEPE price broke out of a descending channel pattern, surging by 12%, but is experiencing a corrective pullback, trading 2.3% lower at $0.0000121 as of Wednesday. 

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Canada Interest Rate Decision Preview: Bank of Canada eyes another rate cut on easing inflation expectation

Canada Interest Rate Decision Preview: Bank of Canada eyes another rate cut on easing inflation expectation

The Canadian central bank is seen cutting rates for the second consecutive meeting and the decision will be announced at 13:45 GMT. Governor Tiff Macklem’s press conference will follow at 14:30 GMT.

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