Analytics and Forex Market News: Cautious Trading on Wednesday

Analytics and Forex Market News: Cautious Trading on Wednesday

Stock markets traded slightly lower during the EU session on Wednesday, following yesterday's decline, as it looks like the recent rally might be running out of steam.


 Analytics and Forex Market News: Cautious Trading on Wednesday

Stock markets traded slightly lower during the EU session on Wednesday, following yesterday's decline, as it looks like the recent rally might be running out of steam.

At the same time, US yields have picked up some upward momentum, helping the USD recover some of its recent losses. As a result, the USDJPY pair returned toward the critical 130 level.

EU finally agrees on an oil embargo

Representatives from the EU have achieved an agreement on the sixth package of sanctions against Russia. By the end of the year, they agreed to block 90% of the country's oil imports. According to Charles Michel, president of the European Council, the action would instantly affect 75% of Russian oil imports.

Individual asset freezes and travel bans are also part of the sanctions, as is the exclusion of Sberbank, Russia's largest bank, from the SWIFT system. Finally, leaders decided to grant Ukraine a 9 billion EUR tranche of aid to help the country's economy recover from the war.

Meanwhile. the WTI oil benchmark touched the 120 USD level amid headlines suggesting that OPEC members are considering exempting Russia from their oil output agreement.

Later today, the US ISM manufacturing survey for May is due, predicted to tick lower from 55.4 to 54.5. However, the prices paid subindex, aka the inflation gauge, will likely continue trending higher. At the same time, the JOLTS job openings will be released.

Additionally, the Bank of Canada will deliver a 50bps rate hike, bringing the primary rate to 1.5%. That move could impact the USDCAD pair, most likely to the downside.

Furthermore, several FOMC and ECB speakers will be hitting the wires, likely causing some market volatility. Last but not least, the Fed's beige book is on the agenda, along with US total vehicle sales.

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Analytics and Forex Market News: Cautious Trading on Wednesday

Stock markets traded slightly lower during the EU session on Wednesday, following yesterday's decline, as it looks like the recent rally might be running out of steam.


Allforexrating

Stock markets traded slightly lower during the EU session on Wednesday, following yesterday's decline, as it looks like the recent rally might be running out of steam.

At the same time, US yields have picked up some upward momentum, helping the USD recover some of its recent losses. As a result, the USDJPY pair returned toward the critical 130 level.

EU finally agrees on an oil embargo

Representatives from the EU have achieved an agreement on the sixth package of sanctions against Russia. By the end of the year, they agreed to block 90% of the country's oil imports. According to Charles Michel, president of the European Council, the action would instantly affect 75% of Russian oil imports.

Individual asset freezes and travel bans are also part of the sanctions, as is the exclusion of Sberbank, Russia's largest bank, from the SWIFT system. Finally, leaders decided to grant Ukraine a 9 billion EUR tranche of aid to help the country's economy recover from the war.

Meanwhile. the WTI oil benchmark touched the 120 USD level amid headlines suggesting that OPEC members are considering exempting Russia from their oil output agreement.

Later today, the US ISM manufacturing survey for May is due, predicted to tick lower from 55.4 to 54.5. However, the prices paid subindex, aka the inflation gauge, will likely continue trending higher. At the same time, the JOLTS job openings will be released.

Additionally, the Bank of Canada will deliver a 50bps rate hike, bringing the primary rate to 1.5%. That move could impact the USDCAD pair, most likely to the downside.

Furthermore, several FOMC and ECB speakers will be hitting the wires, likely causing some market volatility. Last but not least, the Fed's beige book is on the agenda, along with US total vehicle sales.

# Forex Broker Year Status For Against Type Regulation Leverage Account Advisors
1 Allforexrating JustMarkets 2012 36% 4% ECN/STP FSA, CySEC, FSCA, FSC 1:3000* 1 Yes
2 Allforexrating Hantec Markets 1990 35% 6% ECN/STP ASIC, FCA, FSA-Japan, FSC, JSC 1:2000* 100 Yes
3 Allforexrating Valetax 2023 35% 1% ECN/STD FSC 1:2000* 10 Yes
4 Allforexrating KCM Trade 2016 32% 3% ECN/STD FSC 1:400* 100 Yes
5 Allforexrating Plotio Global 1983 31% 2% STP HKGX, ASIC, SCB 1:300* 200 Yes
6 Allforexrating FISG 2011 30% 1% ECN/STD FSA, CySEC, ASIC 1:500 0.01 Yes
7 Allforexrating ATFX 2017 25% 3% Broker/NDD FCA, CySEC, FSCA 1:400* 100 Yes
8 Allforexrating Octa 2011 20% 3% ECN/STD Regulation: CySEC, MISA, FSCA and FSC 1:1000* 5 Yes
9 Allforexrating Youhodler 2018 20% 2% Exchange EU (Swiss) licensed Up to 1:500 100 Yes
10 Allforexrating Uniglobe markets 2015 20% 3% ECN/STP Yes Up to 1:500 100 Yes
11 Allforexrating IEXS 2023 20% 6% ECN/STP ASIC, FCA Up to 1:500 100 Yes
12 Allforexrating TradeEU 2023 18% 4% CFDs CySEC 1:300* 100 Yes
13 Allforexrating RoboForex 2009 16% 4% ECN/STD FSC, Number 000138/333 1:2000* 10 Yes
14 Allforexrating Axiory 2011 15% 5% Broker, NDD IFSC, FSC, FCA (UK) 1:777* 10 Yes
15 Allforexrating FBS 2009 13% 4% ECN/STD IFSC, CySEC, ASIC, FSCA 1:3000* 100 Yes


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