Author: FX
EUR/USD struggles to gain ground around 1.1035 in Friday’s early Asian session. The US Services PMI came in better than expected in September. The cautious mood and rising bets of another ECB rate cut weigh on the Euro. The EUR/USD pair remains on the defensive near 1.1035 amid the stronger Greenback during the early Asian session on Friday. The cautious mood in the markets ahead of the key US economic data weighs on the major pair. All eyes will be on the release of US employment data, which is due later on Friday.The upbeat US Services Purchasing Managers Index (PMI)…
US official believe Israel’s retaliation will be measured enough to avoid triggering new rounds of escalationOne official said Israel wants to send a strong signal to Iran while hoping to put a lid on the conflictNo final decisions had been made by IsraelWashington did not expect to participate in strikesThere is growing concern among US allies that Washington is struggling to influence the Israeli government led by NetanyahuOne European diplomat said Israel has been asked to stop short of an attack on Iran’s oil or nuclear infrastructure but there was no guarantee they would complyThis, to me, is a pretty…
Mexican Peso snaps two days of gains and falls on Israel/Iran hostilities. Banxico’s September poll revised USD/MXN exchange rate expectations upward, while inflation projections were lowered. Traders await September’s Nonfarm Payrolls data, with strong results likely boosting the Greenback and further impacting the Peso. The Mexican Peso registers losses in early trading against the Greenback on Thursday amid increasing geopolitical risks as President Joe Biden is discussing with Israel how to attack Iranian oil facilities. Data from Mexico witnessed an increase in Foreign Exchange Reserves, according to the Bank of Mexico (Banxico). The USD/MXN trades at 19.53, gaining over 0.60%.…
By Julie Zhu, Amy-Jo Crowley and Hadeel Al Sayegh HONG KONG/LONDON (Reuters) – Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO), three sources with knowledge of the matter said, pushing ahead with preparations as it awaits UK regulatory approval. The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources said, during which an IPO-bound company fields large investors’ questions and tests their investment appetite. The sources declined to be identified as they were not authorised to speak to the media. A spokesperson…
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Strategy: CCI Flashback The CCI Flashback is a trend-following strategy. This straightforward approach utilizes moving averages and has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the CCI Flashback strategy has identified a trading opportunity on the USD/JPY pair within the H4 timeframe. I’ve shared a trade setup image for your…
GBP/USD outlook: Cable falls to three week low on dovish steer in rate outlook Cable remains firmly in red and accelerated lower on Thursday morning, falling over 1% for the session. Sterling came under increased pressure from dovish comments from BoE Governor Bailey, who said the central bank could be more aggressive on rate cuts, adding to expectations for 25 basis points cut at the November 7 policy meeting. Read more… GBP/USD Forecast: Sellers ignore oversold conditions after BoE Governor Bailey remarks GBP/USD came under heavy bearish pressure and slumped toward 1.3100 in the European morning on Thursday, touching its…
Services PMI 51.4 vs 50.5 expected and 52.9 prior. Composite PMI 49.6 vs 48.9 expected and 51.0 prior.Key findings:HCOB Eurozone Composite PMI Output Index at 49.6 (Aug: 51.0). 7-month low. HCOB Eurozone Services PMI Business Activity Index at 51.4 (Aug: 52.9). 7-month low. First month since December 2023 that contraction is seen in all big-three eurozone economies.Comment:Commenting on the PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: “At first glance, the services sector in the eurozone seems to be holding up fairly well. It’s still growing, and the slowdown is not too steep just…
Gold price trades with a negative bias for the second straight day amid a stronger USD. Reduced bets for a 50 bps Fed rate cut in November lifted the USD to a multi-week high. Geopolitical risks continue to act as a tailwind for the XAU/USD ahead of the US data. Gold price (XAU/USD) attracts fresh sellers following the overnight bounce from the $2,641 area and remains on the defensive heading into the European session on Thursday. The US Dollar (USD) prolongs its goodish recovery move from the lowest level since July 2023 and advances to a three-week high amid diminishing…
The markets are pricing in weaker labor market prospects in September, but the ADP report just beat market estimates. How will that affect the U.S. dollar’s potential reaction to Friday’s NFP report? We have the points you need to know if you’re trading the event! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link