Emerging market updates

Emerging market updates

  • USD/ZAR has been trading near the crossover of 100-day and 200-day SMAs. Today, traders need to pay attention to the State of the Nation (Sona) address where President Ramaphosa is expected to make comments on the future of Eskom. Will the support package be delivered to the South African electricity public utility? Let’s find out at 18:00 MT time. If the rand is supported, bears will push USD/ZAR below the 14.2761 level. The next support will lie at 14.14. If the ZAR weakens, the pair will rise back above the 50-day SMA. Bulls need to push the pair above the 14.47-14.53 levels to restore the uptrend.    

    • The Turkish lira was hurt by the news that the US considers three sanctions packages. Today, the Turkish president Tayyip Erdogan said that if Washington imposes sanctions, the countermeasures come immediately. On H4, USD/TRY tested the 5.81 level on his comments. Further uncertainties may push the pair above this level to the resistance at 5.84. Bears will keep the 5.7198 and 5.6975 levels in focus. As far as they are broken, the next support will be placed at 5.6606.

    • The Singapore dollar has been strengthening since the beginning of the Asian trading session. USD/SGD has fallen below the 100-day SMA. At the moment, it is testing the support at 1.3560. After the break, bears will target the 1.3533-1.3520 levels. Break below this zone will pull the pair lower to the 1.3469 level. From the upside, there is a resistance at 1.3650 (200-day SMA). Next resistance levels are placed at 1.3688 and 1.3719.

    Similar

    How to trade the JPY?
    How to trade the JPY?

    Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

    USD and GBP Traders Await Big Moves
    USD and GBP Traders Await Big Moves

    The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.

    What to Trade on August 29 - September 2?
    What to Trade on August 29 - September 2?

    Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

    Latest news

    Market Crash Incoming?
    Market Crash Incoming?

    This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

    What Currency Will Overperform?
    What Currency Will Overperform?

    S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

    Deposit with your local payment systems

    Feel the Team Spirit

    Data collection notice

    FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

    Callback

    A manager will call you shortly.

    Change number

    Your request is accepted.

    A manager will call you shortly.

    Next callback request for this phone number
    will be available in

    If you have an urgent issue please contact us via
    Live chat

    Internal error. Please try again later

    Don’t waste your time – keep track of how NFP affects the US dollar and profit!

    Beginner Forex book

    Beginner Forex book will guide you through the world of trading.

    Beginner Forex book

    The most important things to start trading
    Enter your e-mail, and we will send you a free Beginner Forex book

    Thank you!

    We've emailed a special link to your e-mail.
    Click the link to confirm your address and get Beginner Forex book for free.

    You are using an older version of your browser.

    Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

    Safari Chrome Firefox Opera