Business activity index 53.3 versus 54.5 priorEmployment 50.2 versus 51.1 priorNew orders 53.0 versus 52.4 priorPrices paid 57.3 versus 57.0 priorSupplier deliveries 49.6 versus 47.6 priorInventories 52.9 versus 49.8 priorBacklog of orders 43.7 versus 50.6 priorNew...
OPEC+ agrees to delay October oil output increase – report
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,...
Three reasons why the ISM services index has become an unreliable indicator
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,...
US August final S&P Global Services PMI Aug 55.7 vs 55.2 prelim
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,...
Broader US indices bouncing to the upside
The market is transitioning today with the NASDAQ index rising while the Dow industrial average falls. The S&P is also higher but less so versus the Nasdaq.Nine minutes into the open,: Dow industrial average -142.87 points or -0.35% at 40832.11S&P index up...
Canada August S&P Global Services PMI Aug 47.8 vs 47.3 prior
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,...
USDCHF bounces back higher in an down/up start to the NA session, but buyer have more work
The price of the USDCHF moved lower after the weaker than expected ADP employment report, but found support near a target at 0.84315. The initial jobless claims and the productivity/unit labor costs data reversed the price back to the upside. Although off the lows,...
US stocks set for a flat open as we count down to non-farm payrolls
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,...
Kickstart the FX trading day for Sept 5 w/a technical look at EURUSD, USDJPY and GBPUSD
In the Kickstart video for September 5, I take a look at the three major currency pairs from a technical perspective - the EURUSD, USDJPY and GBPUSD. The dump of data this morning gave a mixed picture with the ADP employment change coming in below 100K the first time...
Gold climbs $25 in a fresh challenge to all-time highs
gold dailyGold is shining again today, up $25 to $2519 in a quick recovery after a three-day decline that ended Tuesday.It's an impressive bounce that runs counter to recent seasonal weakness in Sept/Oct. There is a sense that China is behind the buying, particularly...
US Q2 unit labor costs +0.4% vs +0.8% expected
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,...
US initial jobless claims 227K vs 230K estimate
Prior week 231K revised to 232Kprior week continuing claims 1.868Minitial jobless claims 227K versus 230K estimate4-week moving average of initial jobless claims 230K vs 231.75K last weekContinuing claims 1.838M versus 1.865M estimate4-week moving average of...
Canada Q2 labour productivity -0.2% vs -0.3% prior
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,...
USD moves lower after the ADP report
The USD has moved lower after the weaker than expected ADP employment report. Later today we get Unit labor costs revised for Q2, Initial claims and the employment component of the ISM non-manufacturing index. All come before the US jobs report tomorrow. The ADP is...
ADP August employment +99K vs +145K expected
This is the lowest reading since January 2021, albeit barely.Prior was +122K (revised to +111K)Annual pay growth for job-stayers 4.8% vs 4.8% priorJob-changers' pay gains 7.3% vs 7.2% priorService-providing sector added 72K jobs, goods-producing sector up...
ForexLive European FX news wrap: Awaiting more key data from the US
Headlines:Markets:EUR and GBP lead, USD and CAD lag on the dayEuropean equities mixed; S&P 500 futures up 0.1%US 10-year yields flat at 3.768%Gold up 0.9% to $2,516.01WTI crude up 0.5% to $69.53Bitcoin down 2.2% to $56,740It was a modestly quiet session and...
ECB seen cutting rates next week and then again in December – poll
The poll shows that 64 of 77 economists (~85%) predict the ECB will cut rates by 25 bps at next week's meeting and then again in December. Four other respondents expect just one 25 bps rate cut for the remainder of the year while eight are seeing three rate cuts in...
Nasdaq Technical Analysis – All eyes on the US NFP
Fundamental OverviewThis week the growth fears came back as the we got a couple of soft US data. Most of the weakness can be attributed to the ISM Manufacturing PMI which disappointed as it missed expectations, and the new orders index dropped further into...
Dollar keeps lightly changed with eyes on key US data later
The changes among major dollar pairs are roughly 0.1% or less at the moment. And that exemplifies the more tentative mood that is gripping traders in European morning trade. USD/JPY was again the more volatile pair, dipping to a low of 143.05 before bouncing back to...
S&P 500 Technical Analysis – Growth fears back on the menu
Fundamental OverviewThis week the growth fears came back as the we got a couple of soft US data. Most of the weakness can be attributed to the ISM Manufacturing PMI which disappointed as it missed expectations, and the new orders index dropped further into...