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LITEFINANCE Add Four New Trading Instruments Available for Trading Platform.

Dear Clients,

The BOOM500, BOOM1000, CRASH500, and CRASH1000 synthetic indices can now be traded with LiteFinance. The instruments are available for clients from Ghana, Nigeria, Tanzania, Kenya, and Uganda.

These trading instruments will be available when you open a new ECN MT5 account only.

LITEFINANCE Add Four New Trading Instruments Available for Trading Platform. - LiteFinance Dear Clients, The BOOM500, BOOM1000, CRASH500, and CRASH1000 synthetic indices can now be traded with LiteFinance. The instruments are available for clients from Ghana, Nigeria, Tanzania, Kenya, and Uganda. These trading instruments will be available when you open a new ECN MT5 account only. What ar...

EUR/USD stays in tight range with US inflation in focus

EUR/USD edges slightly lower but holds the key support level of 1.0900 in Tuesday’s European session. The major currency pair trades broadly sideways as investors appear to be sidelined ahead of the United States (US) Producer Price Index (PPI) data, which will be published at 12:30 GMT.

The producer inflation data will indicate how much the prices of goods and services were changed by owners at factory gates. Generally, prices of final goods are influenced by input prices and consumer demand.

Economists expect that the monthly headline PPI barely rose last month. The core PPI, which excludes volatile food and energy prices, is expected to grow at a slower pace of 0.2% compared with the 0.4% increase seen in June. Annual headline and core PPI are estimated to have decelerated by three-tenths to 2.3% and 2.7%, respectively.

EUR/USD stays in tight range with US inflation in focus - LiteFinance EUR/USD edges slightly lower but holds the key support level of 1.0900 in Tuesday’s European session. The major currency pair trades broadly sideways as investors appear to be sidelined ahead of the United States (US) Producer Price Index (PPI) data, which will be published at 12:30 GMT. The produ...

Forex Today: Gold closes in on record-high, eyes on US producer inflation data

While major currency pairs spent the first day of the week fluctuating in tight ranges, Gold gathered bullish momentum and climbed above $2,470. The trading action turns subdued early Tuesday as investors await the July Producer Price Index (PPI) data from the US. During the European session, Germany’s ZEW Institute will release August Economic Sentiment data for Germany and the Euro area.

Forex Today: Gold closes in on record-high, eyes on US producer inflation data - LiteFinance While major currency pairs spent the first day of the week fluctuating in tight ranges, Gold gathered bullish momentum and climbed above $2,470. The trading action turns subdued early Tuesday as investors await the July Producer Price Index (PPI) data from the US. During the European session, German...

Japanese Yen struggles as US Dollar remains steady ahead of PPI

The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Tuesday. The safe-haven flows might limit the downside for the Yen, which could be attributed to rising geopolitical tensions in the Middle East.

Japan’s parliament is scheduled to hold a special session on August 23 to discuss the Bank of Japan’s (BoJ) decision to raise interest rates last month. The session, organized by the lower house financial affairs committee, is expected to invite BoJ Governor Kazuo Ueda to attend, according to government sources cited by Reuters.

The USD/JPY pair receives support as the pressure on the US Dollar eases due to decreased expectations for a 50 basis point interest rate cut by the US Federal Reserve (Fed) in September. According to CME’s FedWatch Tool, the probability of 50 basis points (bps) cut in September has dropped to 50%, down from 85% last week. However, the rate markets continue to price in a 100% chance of at least a 25 bps cut at the upcoming meeting.

Japanese Yen struggles as US Dollar remains steady ahead of PPI - LiteFinance The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Tuesday. The safe-haven flows might limit the downside for the Yen, which could be attributed to rising geopolitical tensions in the Middle East. Japan’s parliament is scheduled to hold a special session on August 23 to discu...

EUR/JPY clings to gains near daily peak, above mid-161.00s amid weaker JPY

The EUR/JPY cross attracts some dip-buying following the previous day’s modest pullback from over a one-week top and sticks to its intraday gains through the early European session on Tuesday. Spot prices currently trade just above the mid-161.00s, up nearly 0.50% for the day, and draw support from the offered tone surrounding the Japanese Yen (JPY).

Against the backdrop of the recent dovish remarks by Bank of Japan (BoJ) Deputy Governor Shinichi Uchida, a positive tone around the equity markets is seen undermining demand for the safe-haven JPY. In fact, Uchida said last week that the central bank won’t hike rates when markets are unstable. Furthermore, a former BoJ board member Makoto Sakurai predicted a rate hike only by March 2025 citing the recent market turmoil and the low likelihood of a rapid economic recovery.

EUR/JPY clings to gains near daily peak, above mid-161.00s amid weaker JPY - LiteFinance The EUR/JPY cross attracts some dip-buying following the previous day’s modest pullback from over a one-week top and sticks to its intraday gains through the early European session on Tuesday. Spot prices currently trade just above the mid-161.00s, up nearly 0.50% for the day, and draw support fro...

EUR/USD trades modestly flat above 1.0900 ahead of German ZEW data

EUR/USD trades flat above 1.0900 in the European session on Tuesday. The pair treads water amid a broad US Dollar consolidation. Traders take a breather ahead of the German ZEW data, US Producer Price Index release and Fedspeak.

Further north, EUR/USD is expected to challenge the August high of 1.1008 (August 5) before reaching the December 2023 top of 1.1139 (December 28).
https://litefinancenig.com/eur-usd-trades-modestly-flat-above-1-0900-ahead-of-german-zew-data/

Alibaba Stock Price Faces Headwinds Ahead of Earnings

China slowdown weighs on Alibaba

​Alibaba reports earnings on 15 August. It is expected to see earnings per share rise to $2.12 from $1.41 in the previous quarter, while revenue is forecast to rise to $34.71 billion, from $30.92 billion in the final quarter of FY 2024.

​China’s economic growth has been sluggish, with GDP rising just 4.7% in the quarter ending in June, down from 5.3% in the previous quarter. This slowdown is due to a downturn in the real estate market and a slow recovery from COVID-19 lockdowns that ended over a year ago. Moreover, consumer spending and domestic consumption remain weak, with retail sales falling to an 18-month low due to deflation.
https://litefinancenig.com/alibaba-stock-price-faces-headwinds-ahead-of-earnings/

Retail Client Sentiment: Gold, Oil, AUD in Focus as Risk Appetite Stabilises

Risk Appetite Attempts a Recovery

On Monday we witness a very different start to the trading week than we did last week. It would appear that the short-lived panic has subsided to more reasonable levels, with the volatility Index (VIX) declining from 65 to just over 20, ahead of the New York open. The Aussie dollar is often viewed as a risk asset in the FX space due to its positive correlation with the S&P 500 and has recovered to some degree in recent trading sessions.

Oil, often viewed as a barometer for the global economy, continues its counter-trend move after a sustained sell-off. Lastly, gold attempted to get back to its all-time high. The precious metal has a reputation for rising in times of geopolitical uncertainty but also tends to benefit as central banks look to unwind years of tight monetary policy. This is because gold is a non-yielding asset and becomes relatively more attractive when interest rates are on the way down.
https://litefinancenig.com/retail-client-sentiment-gold-oil-aud-in-focus-as-risk-appetite-stabilises/

Nasdaq 100, Dow and Dax Continue to Rebound​​​​​​​

Nasdaq 100 looks for more gains

​The index finished up on the week, having rallied back above 18,000 as well as holding above the 200-day SMA.​For the moment the buyers remain in control, having lifted the index from its lows. Further gains target 19,000 and then the late July high at 19,500. A close back below 18,000 might signal that a new leg lower has begun.

Nasdaq 100, Dow and Dax Continue to Rebound​​​​​​​ - LiteFinance Nasdaq 100 looks for more gains ​The index finished up on the week, having rallied back above 18,000 as well as holding above the 200-day SMA.​For the moment the buyers remain in control, having lifted the index from its lows. Further gains target 19,000 and then the late July high at 19,500. A ...

Trend Trading with Moving Averages

Identifying a Fresh Trend

There often is a period of uncertainty in the moments that follow soon after a bottoming or topping pattern, where price starts to trade in the opposite direction. This can cause much confusion in the mind of traders because it’s not yet clear if this is the start of a new trend or price taking a breather before continuing in the direction of the previous trend. This is where moving averages can provide some assistance.

For a in-depth exploration of moving averages in general and how to calculate them, read our article, ‘Moving Average (MA) Explained for Traders’
https://litefinancenig.com/trend-trading-with-moving-averages/

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Nigeria Lucky Ticket Draw with monthly prizes launched
Dear Client.
We are happy to announce the start of a new competition, Lucky Ticket Draw, for traders from Nigeria.
The competition runs from 1 March to 3 June 2024. Five money prizes will be raffled on the first work day every contest month:
$500 will be raffled at 12:00, 13:00, 14:00, and 15:00;
$1,000 will be raffled at 16:00.
*Lagos time, GMT +1.

Nigeria Lucky Ticket Draw with monthly prizes launched - LiteFinance Dear Client. We are happy to announce the start of a new competition, Lucky Ticket Draw, for traders from Nigeria. The competition runs from 1 March to 3 June 2024. Five money prizes will be raffled on the first work day every contest month: $500 will be raffled at 12:00, 13:00, 14:00, and 15:00; $1...