A staff member holds dollar bills at Hana Bank’s anti-counterfeiting center in Jung-gu, Seoul. (Yoon Chang-bin/The Korea Herald) South Korea’s foreign exchange market will move to round-the-clock won-dollar trading from July, marking a major step in efforts to improve market accessibility. Seoul authorities approved revisions to the code of conduct for the onshore forex market…
EUR/CHF attempted for recovery last week but failed after rejection by 55 D EMA (now at 0.9159). As downside is contained above 0.9094 temporary low, initial bias stays neutral this week first. Outlook is unchanged that rebound from 0.8979 should have completed at 0.9264. Break of 0.9094 will bring deeper fall back to retest 0.8979…
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EUR/AUD stayed in sideway taring between 1.6108/6381 last week and outlook is unchanged. Initial bias remains neutral this week first. Rise from 1.6108 is seen as the third leg of the corrective pattern from 1.6125. . Above 1.6381 will bring stronger rebound to 55 D EMA (now at 1.6411) and above. Nevertheless, firm break of…
Speculators pursuing WTI Crude Oil last week certainly got help via optimistic talk about the potential of a resolution being achieved regarding the Iranian war. Prices in WTI Crude Oil went lower from the start of last week, then saw a reversal higher Tuesday, but a return to selling as the week concluded. Prices across…
Things have not grown calmer in the broad Forex market. The EUR/USD saw its low for the week on Thursday around the 1.15860 ratio and then produced a high near 1.16860 on Friday. Forex including the EUR/USD have seen fast dynamic reversals in the past three months. The Iranian situation is certainly the chief instigator…
Why was Far East focused online broker fined a whopping $60 million by Chinese regulators, sending parent company UP Fintech’s stock tumbling? What senior management changes have taken place at Australia based CFDs broker Eightcap – including a new CEO, and the departure of another longtime senior executive? How is Kraken pricing trader evaluations at…
The British pound has been very noisy during the trading week as we continue to see a lot of back-and-forth action. Ultimately, the market continues to see the 1.3550 level above as a major barrier, but I do think it is probably only a matter of time before we at least test that area. If…
An employee arranges U.S. dollar bills and 50,000 won notes at a branch of Hana Bank in central Seoul, April 3. Yonhap Korea’s move to make the won-dollar foreign exchange market a virtually 24-hour trading schedule starting in July is raising concerns that it could leave the won more vulnerable to overnight swings when trading…
FX Council General Meeting Revises Seoul FX Market Code of Conduct Won-Dollar Trading Allowed on All Days Except Weekends and January 1 Starting from July 6, the trading hours for the won-dollar foreign exchange market via brokerages will shift to a 24-hour non-stop system. The current trading window, which runs from 9 a.m. to 2…