Kathy Lien
BK Asset Management
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
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EUR/USD extends slide toward 1.1000 on broad USD strength
EUR/USD stays under bearish pressure and trades at a fresh multi-week low below 1.1050 on Thursday. The upbeat ISM Services PMI data for September boosts the US Dollar, while rising bets for an ECB rate cut in October undermine the Euro.
GBP/USD tests multi-week lows near 1.3100 after Bailey's dovish remarks
GBP/USD loses more than 1% and trades at around 1.3100, pressured by dovish comments from BoE Governor Andrew Bailey, who said that the central bank could become 'more activist' on rate cuts if inflation eases. On the other hand, the USD benefits from strong PMI data.
Gold struggles to gain traction, trades below $2,650
Gold oscillates in a tight range below $2,650 after bets fade that the Fed will continue slashing interest rates aggressively. Although XAU/USD finds support from increasing geopolitical risks, the broad USD strength doesn't allow the pair to stage a rebound.
XRP takes a hit as traders digest SEC appeal in Ripple lawsuit
XRP extended its losing streak on Thursday. The asset slipped to $0.5208 as traders digested the recent developments in the SEC lawsuit. The US financial regulator’s decision to file an appeal on Thursday of the Ripple lawsuit has invited criticism from Ripple executives and XRP holders.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.