Oil is off to a strong start to the week. It gapped 80-cents higher at the Asian open and has continued higher. It's up $1.91 to $71.40, which is the highest since October 25.The main driver is the OPEC+ decision to extend voluntary production curbs for an additional...
Election angst is the driver from here
It's election week.It doesn't get any bigger than this in US politics and polls show this will be a razor-tight race. At this time last week, Trump looked to have an edge but some polling numbers over the weekend upended that and highlighted the possibility that...
US dollar is lower to start the new week after Harris jump in poll
The influential Selzer poll out of Iowa showed a Harris lead over the weekend. That is not supposed to happen, and led to the USD moviing lower on the news. The US yields are lower. The US stocks are trading mixed (Dow modestly lower, S&P and Nasdaq modestly...
ForexLive European FX news wrap: Dollar stays lower on tighter US election race odds
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities lightly higher; S&P 500 futures flatUS 10-year yields down 9 bps to 4.29%Gold up 0.2% to $2,740.83WTI crude up 3.0% to $71.57Bitcoin down 0.5% to $68,855As we get the new week underway, the focus in...
Dollar stays pinned down alongside yields ahead of US trading
After a bit of a lackluster start to the session in Europe, we're starting to see things pick up again now nearing US trading. The dollar opened with a gap lower with focus on the US election tomorrow and is now starting to track back to the lows for the day. USD/JPY...
OPEC secretary general Al Ghais: We are very positive on demand
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,...
China are reportedly reviewing a bill to raise local government debt ceilings
The move here is to largely deal with "hidden debt" or what is intricately known as debt arising from local government financing vehicles (LGFV). These are off-balance sheet debt that are incurred by local governments to finance big projects and infrastructure. For...
Crude Oil Technical Analysis – Positive gap on OPEC+ production hike delay
Fundamental OverviewCrude oil opened the day with a positive gap today following the weekend news of OPEC+ delaying the December production hike. In the big picture, central bank easing generally leads the manufacturing cycle, so we can expect global growth to pick up...
Xlence Sets New Standard in Online Trading
With its recent launch, Xlence is quickly positioning itself as a promising option in the online trading world. This new platform emphasizes transparency, education, and accessibility, aiming to make trading a simpler and more empowering experience for users. In a...
Deribit and SignalPlus Launch $200,000 Winter Trading Competition
Deribit, the world’s premier Bitcoin and Ethereum options exchange, in partnership with SignalPlus, a leading options trading dashboard and analytics hub, is excited to unveil the second edition of the Winter Trading Competition 2024.This year's competition offers...
Eurozone November Sentix investor confidence -12.8 vs -12.5 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,...
FP Markets Secures Three Major Honours at the Inaugural Finance Magnates Annual Award Gala
Australian-founded broker FP Markets further cemented its position as a market leader, winning ‘Most Trusted Broker - Global’, ‘Broker of the Year - Asia’, and ‘Fastest Growing Broker - LATAM’ at the inaugural Finance Magnates Annual Award (FMAA) Gala. The event was...
Eurozone October final manufacturing PMI 46.0 vs 45.9 prelim
Prior 45.0The headline reading is a 5-month high with the output reading also improving to a 2-month high. A slight improvement in fortunes in Germany helped but the real carry is Spain, with manufacturing activity there seen at a 32-month high. That being said,...
Germany October final manufacturing PMI 43.0 vs 42.6 prelim
Final Manufacturing PMI 43.0 vs. 42.6 expected and 40.6 prior.Key findings:HCOB Germany Manufacturing PMI at 43.0 (Sep: 40.6). 3-month high. HCOB Germany Manufacturing PMI Output Index at 42.8 (Sep: 41.3). 2-month high. Deeper cuts to output prices signalled amid...
USD/JPY pullback stalls near key technical support again for now
USD/JPY daily chartThe dollar opened with a gap lower today before keeping lower since Asia trading. The needle hasn't really moved since we got to European morning trade, with market players waiting on potentially more developments in the polls later in US. In the...
France October final manufacturing PMI 44.5 vs 44.5 prelim
Prior 44.6No change to the initial estimate as the French manufacturing sector stays in contraction territory. New orders observed an accelerated pace of decline with employment conditions also starting to be hit harder. The latter will be a concern to watch if it...
Italy October manufacturing PMI 46.9 vs 48.6 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,...
Gold Technical Analysis – Some de-risking going into the US Election
Fundamental OverviewLast Thursday, gold got hit by some strong selling pressure following the US Jobless Claims and the US Core PCE report. The data keeps on showing that the US economy is doing pretty good, and we even saw some acceleration in activity in other data...
Spain October manufacturing PMI 54.5 vs 53.1 expected
Prior 53.0Spain continues to be the shining light for Europe and is a contrast to Germany. Looking at the details here, both production and new orders both rose sharply, which encouraged greater purchasing and recruitment activity amongst firms. HCOB notes that:"It...
Treasury yields checked back after change in US election odds since the weekend
With Japan markets closed earlier, Treasuries are finally now getting the day started and we're seeing yields marked down lower. That isn't a surprise given how the dollar reacted with the bond market arguably being the lead mover. 10-year yields are down some 7 bps...