What are the Six Main Currencies for Forex Trading?


The foreign exchange (forex) market is a vast and highly liquid arena where trillions of dollars are traded daily among countless participants worldwide. To navigate this market effectively, it is crucial to familiarize oneself with the most commonly traded currencies. In this article, we will delve into the characteristics and traits of six major currencies […]

Japanese Authorities Vigilant of Japanese Yen Volatility

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The Bank of Japan (BoJ) plans to maintain its ultra-loose monetary policy as Governor Ueda reaffirms the need for accommodative measures until sustainable inflation of 2% is achieved. Expectations are that price pressures will decrease significantly by the middle of next year. This stance aligns with the central bank’s commitment to continue large-scale monetary easing […]

DAX and USD/JPY Show Mixed Outlook Amid Global Economic Concerns

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DAX Index Faces Headwinds on China’s Growth Worries and German Inflation Data The DAX index has experienced a downward trend for the past three consecutive days and six out of the last seven sessions. Alongside other European equities, the DAX is being affected by mounting concerns regarding the economic recovery in China and increasing fears […]

Federal Reserve Meeting Minutes Reveal Split Views on Interest Rate Hikes

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The recently released meeting minutes of the Federal Reserve showcased a division among officials regarding the necessity of further interest rate increases. While some members advocated for additional hikes, others suggested a gradual reduction, according to Economies.com. In the previous month, the Federal Reserve had raised interest rates by 25 basis points. However, the minutes […]

Gold Price (XAU/USD) Slips Below $1,960 as US Dollar Gains Strength

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During the Asian session, the price of gold (XAU/USD) faced downward pressure and fell below the $1,960.00 level. This decline was driven by the US Dollar Index (DXY), which is aiming to reach a 10-week high of 104.00. The strength of the USD Index is primarily due to ongoing uncertainty surrounding US debt-ceiling negotiations between […]

Canadian Dollar Weakening Despite Strong Crude Oil Prices: USD/CAD Price Forecast

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Fundamental Background of the Canadian Dollar The Canadian dollar’s performance is closely tied to the ongoing negotiations regarding the US debt ceiling, which has resulted in increased support for the US dollar (USD). Additionally, the recent rally in crude oil prices has somewhat limited the upside potential for USD/CAD bulls before the start of the […]

Dollar Retreats from Five-Week Highs as Investors Secure Profits

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Dollar Retreats in European Trade: Breaking Five-Week High Streak In European trade, the dollar experienced a decline, breaking its three-session streak of reaching five-week highs, as investors engaged in active profit-taking. The focus now shifts to crucial remarks from Federal Reserve officials, particularly Fed Chair Jerome Powell, and upcoming US data that will provide insights […]

U.S. Dollar Retreats Despite Rising Treasury Yields, Prompting Gold Rally

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The U.S. dollar, represented by the DXY index, experienced a decline on Monday after a strong rally the previous week. This came despite the rise in U.S. Treasury yields across various time frames. By early afternoon in New York, the dollar gauge was down 0.23% at 102.46, stepping back from its five-week high reached overnight. […]