US new home salesThe week picks up today on the economic calendar and the earnings calendar.The main highlight comes at 9:45 am ET as the global PMIs continue to roll out with the US manufacturing and services surveys. The consensus on both is 52.0.Then at 10 am ET,...
ForexLive European FX news wrap: Euro does the rise and fall on PMI beats, pound gains
Headlines:Markets:GBP leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields up 2.9 bps to 4.651%Gold down 1.0% to $2,302.06WTI crude down 0.7% to $80.65Bitcoin down 0.7% to $66,088A couple of PMI beats got things moving in...
BOE’s Pill: The timing for a rate cut is still some way off
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,...
BOE’s Pill says seeing signs of a downward shift in inflation persistency
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,...
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Major currencies revert back to unchanged levels on the day
Well, that's quite a bummer in European morning trade. There was a bit of life after the PMI data earlier but things have quickly settled back down. Dollar pairs are sitting within 10 pips of one another, showing very little change on the day.That speaks to the lack...
Euro gives it all back as PMI pop fades
It was a quick one at that, as EUR/USD backs away from the earlier high of 1.0695 to fall to 1.0655 on the day. The data doesn't change the ECB's plan for a move in June but it is perhaps a first step in keeping their options open after that. For now at least, traders...
Speed Meets Precision: IC Markets’ New TVC Showcases Lightning-Fast Trading Capabilities
In the competitive world of car racing, every second counts. This is the exciting backdrop of IC Markets’ latest television commercial. The ad parallels the racetrack's precision and speed with the ultra-fast execution of trades, a hallmark of IC Markets’ platform.The...
Japanese government maintains view that economy is in moderate recovery
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,...
BOE’s Haskel: High inflation to remain unless labour market weakens
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,...
UK April flash services PMI 54.9 vs 53.0 expected
Prior 53.1Manufacturing PMI 48.7 vs 50.4 expectedPrior 50.3Composite PMI 54.0 vs 52.6 expectedPrior 52.8Similar to the Eurozone, it is a tale of two PMIs with the services reading coming in stronger while the manufacturing reading being weaker. At the balance, that's...
USDCAD Technical Analysis – We are near key resistance levels
USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate...
Yen Alert: Suzuki Stresses Trilateral Support Ahead of Golden Week
Japanese Yen (USD/JPY) AnalysisUeda, Suzuki address parliament on rates and the state of the yenUSD/JPY respects 155.00 but the playbook suggests possible breachShort yen positioning adds to risks of a sharp reversalMajor event risk: US GDP, PCE, BoJ meetingElevate...
European PMIs Paint Mixed Picture, ECB advise a June Cut is Certain
The German DAX recorded its highest monthly increase as investors continue to predict a weaker EU monetary policy. JP Morgan again advised stocks are overcrowded and may see a stronger downward correction. However, economists advise this is only possible if...
Eurozone April flash services PMI 52.9 vs 51.8 expected
Prior 51.5Manufacturing PMI 45.6 vs 46.6 expectedPrior 46.1Composite PMI 51.4 vs 50.7 expectedPrior 50.3The services print is a 11-month high while the manufacturing print is a 4-month low. But at the balance, the Eurozone economy is seen expanding at its quickest...
Euro nudges higher as ECB gets some room to work with
This was the sort of recovery nobody saw coming for the euro area. A major rebound in services activity is dragging the region out of the mud, with the French economy stabilising in April while the German economy expanded for the first time in ten months. The euro has...
Germany April flash manufacturing PMI 42.2 vs 42.8 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,...
ECB’s de Guindos: Barring any surprises, June rate cut is a ‘fait accompli’
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,...
France April flash services PMI 50.5 vs 48.9 expected
Prior 47.8Manufacturing PMI 44.9 vs 46.9 expectedPrior 46.2Composite PMI 49.9 vs 48.8 expectedPrior 48.3The French economy nears stabilisation in April but it is a tale of two halves for the most part. While the services sector has returned to growth, the...
European equities stick with a more positive mood to start the day
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,...