GBP/USD daily chartThe pound is finding comfort from the better-than-expected UK PMI data earlier here, with GBP/USD now rising up by 0.5% to 1.2550 levels. The thing to note about the rise today is that perhaps buyers are looking to be able to shake off key...
McDonald’s Looks to Double Chinese Presence Boosting the US30!
US30 The best performing index on Wednesday was the US30 which rose to its highest price since August but is not yet at its peak like the US100. Due to it not breaking previous resistance points and trading at an all-time high, investors may be more comfortable...
USDCAD Technical Analysis – We are at a key support
USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI...
UK November flash services PMI 50.5 vs 49.5 expected
Prior 49.5Manufacturing PMI 46.7 vs 45.0 expectedPrior 44.8Composite PMI 50.1 vs 48.7 expectedPrior 48.7UK business activity shows a marginal growth in November, the first in three months, as both services and manufacturing sector activity picked up on the month....
Eurozone November flash services PMI 48.2 vs 48.1 expected
Prior 47.8Manufacturing PMI 43.8 vs 43.4 expectedPrior 43.1Composite PMI 47.1 vs 46.9 expectedPrior 46.5There are improvements across all sectors but the euro area economy continues to contract in November, albeit at a slower pace. That being said, employment...
Euro gets a slight bump higher on the day on German economic hope
That is at least what the PMI data is suggesting, with HCOB noting that Q4 performance by the German economy is expected to reflect a 0.7% decline as opposed to the previously estimated 0.9% decline instead. That is seeing EUR/USD get a slight lift from 1.0905 to...
Germany November flash manufacturing PMI 42.3 vs 41.2 expected
Prior 40.8Services PMI 48.7 vs 48.5 expectedPrior 48.2Composite PMI 47.1 vs 46.5 expectedPrior 45.9The euro is nudging higher as the German economy shows signs of improving prospects in November. The manufacturing recession is not worsening much more and there are...
France November flash services PMI 45.3 vs 45.6 expected
Prior 45.2Manufacturing PMI 42.6 vs 43.1 expectedPrior 42.8Composite PMI 44.5 vs 45.0 expectedPrior 44.6The French economy continues to stutter in November, with overall business activity contracting at a rather similar pace to the month before. The manufacturing...
European stocks see light changes at the open today
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France November business confidence 97 vs 98 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,...
ECB’s Nagel: It is too early to talk about rate cuts
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UK household energy bills set to rise as Ofgem raises price cap for next year
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GBPUSD Technical Analysis – Watch what happens around this key level
USDThe Fed left interest rates unchanged as expected with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations...
FX option expiries for 23 November 10am New York cut
There are a couple of large ones to take note of, as highlighted in bold.The first ones being for EUR/USD at 1.0895-00 and those could help to keep price action more limited and sticky in and around the figure level. That should prevent any pullback in price from...
Goldman Sachs raises UK real GDP growth forecast for 2024 to 0.7% from 0.6% previously
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,...
PMI data the highlight of the European agenda today
After slight gains in the day before, the dollar is losing some ground again today ahead of European morning trade. It's just some light pushing and pulling as we get into the festive period, with the Thanksgiving holiday set to overshadow markets until next week.The...
Thanksgiving holiday to dull the market mood in the day ahead
And with Treasuries out especially, that's not going to give too much for traders to work with in the sessions to come. US stocks ended the day higher yesterday but we could get more tepid trading on Friday as highlighted here yesterday. But keep in mind that the...
Inflation cools as central banks shift focus to rate cuts
From a JP Morgan Private Bank note from Wednesday, a couple of snippets, in summary, on inflation and the Federal Reserve. One of the biggest surprises this year has been how much inflation has cooled alongside that economic resilience. While inflation isn’t back to...
ForexLive Asia-Pacific FX news wrap: USD a little softer
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Severe pneumonia outbreak in China overwhelms hospitals in two cities
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,...