Kathy Lien
BK Asset Management
In this new video, I talk about the 5 priceless lessons traders can learn from fishing.
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.
Editors’ Picks
EUR/USD: Sellers will not leave it alone
EUR/USD resumed its widespread leg lower on Tuesday, rapidly setting aside Monday’s bullish price action and returning to the area below the 1.0500 support prior to key US data releases on Wednesday.
GBP/USD struggles to hold above 1.2600
GBP/USD loses its traction and trades below 1.2600 after rising above this level earlier in the day. Nevertheless, the pair's losses remain limited as the US Dollar struggles to find demand following mixed data releases. Markets await FOMC Minutes.
USD/JPY declines to near 153.00 as US Dollar surrenders gains and turns negative
The USD/JPY pair tumbles to near 153.00 in Tuesday’s North American session. The asset plummets as the US Dollar (USD) gives up its entire intraday gains and turns negative after a strong opening. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, falls to near 106.50 after a strong opening around 107.50.
Editors’ Picks
AUD/USD: Bears still dominate the sentiment
AUD/USD quickly reversed Monday’s auspicious start to the week on Tuesday, shifting its attention to the downside and printing new multi-week lows near 0.6430 ahead of the release of inflation data in Oz.
EUR/USD: Sellers will not leave it alone
EUR/USD resumed its widespread leg lower on Tuesday, rapidly setting aside Monday’s bullish price action and returning to the area below the 1.0500 support prior to key US data releases on Wednesday.
Gold under pressure below $2,630
Gold fluctuates above $2,600 on Tuesday after sliding almost three percent – a whopping $90 plus – on Monday due to rumors Israel and Hezbollah were on the verge of agreeing on a ceasefire. Whilst good news for Lebanon, this was not good news for Gold as it improved the outlook for geopolitical risk.
Bitcoin needs a further correction for sustained growth
After weeks of rapid growth, Bitcoin (BTC-USD) entered the maximum turbulence zone falling below $94,000. BTC is currently trading at $93,764 and continues to trend downward, having exited the ascending channel.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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