The GBPUSD has moved lower in trading today. The early catalyst was getting below its 100 hour moving average (blue line in the chart below). The price then moved down and below a swing area between 1.2386 and 1.2397. The 200 hour moving average is also near that area...
US equities are looking lifeless to start the week
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
ECB’s Lagarde: No clear evidence that underlying inflation has peaked
Price pressures remain strongUnderlying inflationary pressures remain highWages pressures have strengthened furtherDecisions will continue to be based on incoming dataOur rate hikes are being transmitted forcefully to financing conditionsFull effects of our monetary...
EURUSD falls helped by weaker ISM services data today
The EURUSD is moving to a new session low in early US trading. The pair is being helped by weaker ISM services data today (and perhaps better jobs on Friday in the US - although it was mixed). Technicals are bearish below a swing area between 1.0690 and 1.0704. Stay...
Saudis are fed up with OPEC members not meeting oil output goals – report
The Saudis are fed up with OPEC members not meeting output goals, according to a Bloomberg report. The Saudi Energy Minister reportedly told Al Arabiya also seeking more transparency from Russia.Those comments might be seen as a warning that if quotas and pledges...
ISM services survey highlights Monday’s US economic calendar
The new week kicked off with a bang as OPEC+ delivered cuts through 2024 and Saudi Arabia pledged to lower production by 1m bpd in July, and maybe longer. WTI crude touched $75 only to fade back to nearly unchanged. It's up $1.82 to $73.55 now and it will be an...
The USD is the strongest and the GBP is the weakest as a North American session begins
The strongest to the weakest of the major currenciesThe USD is the strongest and the GBP is the weakest as the new trading week begins. The move to the upside comes after stronger US job gains on Friday, but with a higher unemployment rate as well. Over the weekend...
ForexLive European FX news wrap: Dollar firms slightly, oil holds early gains
Headlines:Markets:USD leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures flatUS 10-year yields up 6.1 bps to 3.754%Gold down 0.3% to $1,941.37WTI crude up 2.4% to $73.44Bitcoin down 1.4% to $26,793It was a decently slow session for the most part,...
There are signs of de-dollarisation unfolding – JP Morgan
The firm argues that while overall dollar usage is still holding within historical estimates, the usage was more "bifurcated under the hood". While the dollar's share of traded currency volumes is just a little off record highs, at 88%, there are other evident signs...
Dollar keeps in a good spot so far today
Higher Treasury yields continue to play its part in underpinning the dollar today, as we continue from where we left off on Friday last week. The only difference is that equities aren't as enthusiastic but the technical picture for stocks is looking optimistic (see...
Spheroid Universe Coin to be Listed on MEXC Exchange
Spheroid Universe, a futuristic Metaverse that augments the real world in every part of the Earth, is announcing that their token, SPH, will officially be listed on MEXC today, on June 5th. Founded in 2018, MEXC (also known as MEXC Global) is a rapidly-growing...
FBS Broker Supports iFX Expo Asia 2023, Contributing to the Global Business Connection
FBS, a renowned international brokerage company, is proud to announce its sponsorship for the upcoming iFX Expo Asia 2023, scheduled for June 20-22 in Bangkok, Thailand. As part of its engagement in the major B2B event, the global fintech organization, FBS, aims to...
Eurozone April PPI -3.2% vs -3.1% m/m expected
Prior -1.6%; revised to -1.3%PPI +1.0% vs +1.4% y/y expectedPrior +5.9%; revised to +5.5%Looking at the details, the large chunk of the decline on the month comes from energy (-10.1%) with a fall also observed in intermediate goods (-0.6%). That is offset by price...
UK May final services PMI 55.2 vs 55.1 prelim
Prior 55.9Composite PMI 54.0 vs 53.9 prelimPrior 54.9Little change to the initial estimates as UK services activity continues to keep more robust in May. A strong rise in output and new work is helping to underpin the expansion. S&P Global notes that:"Service...
Eurozone June Sentix investor confidence -17.0 vs -15.1 expected
Prior -13.1Euro area investor morale darkens, dragged down by negative expectations for Germany. This won't do much to quell recession fears, especially when Europe's largest economy is showing notable softness as its manufacturing sector slumps heavily.MoneyMaker FX...
Pink Moon Studios Reveals ‘KMON: World of Kogaea’ Pioneering a New Era in Web3 Gaming
Pink Moon Studios, a leading innovator in the Web3 gaming industry, is thrilled to announce the launch of their latest sensation, "KMON: World of Kogaea." This immersive 3D open-world game, available initially to Kryptomon NFT holders, underscores Pink Moon Studios'...
Gold runs into another test of key support to start the week
Gold (XAU/USD) daily chartA stronger dollar and higher yields have sent gold bugs reeling since the end of last week and the pressure is continuing today. The drop today now sees price run into yet another test of the 100-day moving average (red line), where we did...
DPAT Raises Private Funding To Enhance Web3.0 Ecosystem
DPAT, the first Web3 crowdsourcing platform designed to connect investors with real estate and infrastructure opportunities in major African cities, has announced the launch of its highly anticipated updated roadmap and revamped website.Positioning itself as a bridge...
SNB total sight deposits w.e. 2 June CHF 519.0 bn vs CHF 516.7 bn prior
> SNB total sight deposits w.e. 2 June CHF 519.0 bn vs CHF 516.7 bn prior Latest data released by the SNB - 5 June 2023 <!--> Justin Low Monday, 05/06/2023 | 08:00 GMT-0 05/06/2023 | 08:00 GMT-0 --> <!--> Domestic sight deposits CHF 504.5 bn vs CHF...
Eurozone May final services PMI 55.1 vs 55.9 prelim
> Eurozone May final services PMI 55.1 vs 55.9 prelim Latest data released by HCOB - 5 June 2023 <!--> Justin Low Monday, 05/06/2023 | 08:00 GMT-0 05/06/2023 | 08:00 GMT-0 --> <!--> Prior 56.2Composite PMI 52.8 vs 53.3 prelimPrior 54.1 ADVERTISEMENT...