The strongest to the weakest of the major currenciesThe JPY is the strongest and the USD is the weakest at the US session begins. The USD has been hit after gains yesterday did not get follow-through price action:The EURUSD Fell below its 200-day MA intraday yesterday...
ForexLive European FX news wrap: Dollar falls amid better risk appetite, PBOC cuts RRR
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 3.7 bps to 4.105%Gold up 0.2% to $2,033.14WTI crude down 0.4% to $74.05Bitcoin up 2.5% to $40,154It was an active session in Europe today with...
US MBA mortgage applications w.e. 19 January +3.7% vs +10.4% 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,...
German economy to take a further knock on China struggles – Bundesbank
The central bank adds that while that is a tough scenario for the economy, an outright decoupling from China would be much worse for Germany in any instance.According to its simulations, real German GDP would be 0.7% lower in the first year of any economic crisis in...
UK January CBI trends total orders -30 vs -23 expected
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Dollar falls further in European trading
The dollar is failing to find much comfort amid lower yields and more positive risk sentiment on the session thus far. While both factors are not stretching out too much for now, the greenback is still finding itself offered against the rest of the major currencies....
Cable extends gains as UK PMI reaffirms economic resilience
GBP/USD was already up to around 1.2730 but is now pulling higher to 1.2750 levels after the UK PMI data here. The beat on both the services and manufacturing prints in the UK reaffirms that the economy is keeping more resilient in recent months and that's good news...
UK January flash services PMI 53.8 vs 53.2 expected
Prior 53.4Manufacturing PMI 47.3 vs 46.7 expectedPrior 46.2Composite PMI 52.5 vs 52.2 expectedPrior 52.1The pound is getting a slight lift on this report here as it reaffirms a continued bounce in UK economic activity, particularly in services, to start the year. The...
Why is the U.S. market still resilient?
Over the past few years, many predictions have been made about the imminent collapse of the market and the U.S. economy as a whole, but the reality has been far more optimistic.Were all the problems solved, or were there none at all?Let's just say that the risks...
Eurozone January flash services PMI 48.4 vs 49.0 expected
Prior 48.8Manufacturing PMI 46.6 vs 44.8 expectedPrior 44.4Composite PMI 47.9 vs 48.0 expectedPrior 47.6The overall Eurozone readings are not as bad, even if it does reaffirm the sentiment from the French and German reports earlier. The downturn in the euro area...
Lower yields add to the drag in the dollar so far today
In turn, that is weighing further on the dollar as USD/JPY falls to a low of 147.45 and is contesting key technical support in the form of its 100-day moving average (red line) again now:USD/JPY daily chartThe softer French and German PMI data may have something to do...
Market Recap: China bourses move higher amid stimulus hopes; JGB yields spike
Economic Indicators & Central Banks: Expectations the FOMC is done hiking rates continued to support Wall Street even if aggressive rate cut bets have been trimmed, while earnings were mixed. Yields remain mostly higher, but off their peaks after the decent 2-year...
Germany January flash manufacturing PMI 45.4 vs 43.7 expected
Prior 43.3Services PMI 47.6 vs 49.5 expectedPrior 49.3Composite PMI 47.1 vs 47.8 expectedPrior 47.4Similar to the French report, there is a beat on the manufacturing index but the services index came in worse than estimated. At the balance, it leads to a further...
France January flash services PMI 45.0 vs 46.0 expected
Prior 45.7Manufacturing PMI 43.2 vs 42.5 expectedPrior 42.1Composite PMI 44.2 vs 45.2 expectedPrior 44.8That's a 4-month low in France's services sector activity and it reaffirms a continued contraction in the economy to start the new year. Even though the...
European equities on more positive footing to start the day
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Dollar slips to start the session as risk sentiment picks up
The greenback is losing some ground ahead of the European market open as risk sentiment is on the up while bond yields are also sitting lower today. USD/JPY is down 0.4% to 147.75 at the lows for the day, though still holding just above its 100-day moving average of...
The Hang Seng index rallies going into the close as China announces RRR cut
Hang Seng index daily chartHong Kong's main stock index is now up over 3% on the day and rallying into the closing stages, after the Chinese central bank announced the first RRR cut of the year here. It is a bigger one this time around as well as the reduction is 50...
PBOC to cut reserve requirement ratio from 5 February
It will be a hefty reduction this time around, as the Chinese central bank announces a 50 bps cut to the reserve requirement ratio (RRR). The weighted rate before the cut was 7.40%. In effect, this will release ¥1 trillion in the economy.For some context, China went...
PBOC governor Pan says will use various policy tools to keep liquidity reasonably ample
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,...
FX option expiries for 24 January 10am New York cut
There are a couple of large ones to take note of for the day, as highlighted in bold.The first being for EUR/USD at the 1.0900 mark. That runs alongside the 200-hour moving average at the moment. And that should help to put a lid on price action for today, before the...