Author: FX
The Euro (EUR) is under mild downward pressure; it is likely to edge lower but is unlikely to break the major support at 1.0770. In the longer run, downward momentum has not improved much, but there is a chance for EUR to drop to 1.0770 before stabilisation can be expected, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Chance for EUR to drop to 1.0770 24-HOUR VIEW: “After EUR fell sharply two days ago, we indicated yesterday that ‘there is potential for EUR to decline further.’ However, we pointed out that ‘it remains to be seen…
Gold prices have been on a tear these days thanks to all that market uncertainty. Is it high time for a correction soon? Better keep your eyes on these potential support zones in case the precious metal goes for a dip! Gold (XAU/USD) 4-hour Chart by TradingView Safe-haven flows seem to be in full swing these days, as investors remain wary of geopolitical tensions in the Middle East, lackluster stimulus announcements from China, and U.S. election uncertainty. With that, it’s no surprise that gold has been setting one record high after another, busting past the $2,700 area and onto the…
LONDON (Reuters) – Lloyds Banking Group (LON:) reported third quarter profits that exceeded expectations on Wednesday, and reaffirmed its performance guidance for 2024, citing increasing financial confidence among its customers. Britain’s biggest mortgage lender reported statutory pretax profit for the July-September period of 1.8 billion pounds ($2.34 billion), narrowly down from 1.9 billion pounds a year ago but above the average analyst forecast of 1.6 billion pounds. ($1 = 0.7696 pounds) Source link
The Euro Area is about to drop the first results of its October business surveys! Word around is that the markets expect slightly better numbers from the region compared to the previous month. Our Event Guide for the Eurozone October PMIs points out that we could see upticks in France and Germany’s manufacturing and services sectors, which may boost the euro against its major counterparts. 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!…
We’ve got a fresh round of eurozone PMI readings comin’ right up, giving an early glimpse into the region’s performance this month. Here’s what I’m looking out for on EUR/AUD and EUR/CHF in case the numbers look grim. 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
France, Germany, and the Euro Area are printing their October PMIs this week! What are the markets expecting and how may the releases affect the euro’s intraweek trends? We have the points you need if you’re trading the releases! 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
There were no major data releases, which left the major assets exposed to current market themes and increasing concerns about the U.S. economy. How did your closely watched assets trade in the last trading sessions? Let’s discuss them below: Headlines: ECB member Olli Rehn said disinflaiton in the Euro Area is “well on track,” but that the growth outlook has weakened and could increase disinflationary pressures ECB member Robert Holzmann noted that “the deflationary process was much faster than we had thought,” adding that subsequent rate cuts will follow “not too far” into the future ECB member Mario Centeno called…
1300 GMT / 0900 US Eastern time: Federal Reserve Board Governor Michelle Bowman gives opening remarks on second day of the Eighth Annual Fintech Conference hosted by the Federal Reserve Bank of Philadelphia1600 GMT / 1200 US Eastern time: Federal Reserve Bank of Richmond President Thomas Barkin speaks on “Recognizing the Impact of Community Colleges” before the 2024 Virginia Education and Workforce Conference, in Richmond, Vaps. The ‘Beige Book’ will be published at 1800 GMT / 1400 US Eastern time. From the ForexLive glossary:The Beige Book is a report published by the Federal Reserve (Fed) eight times a year, that…
McDonald’s stock shrinks as much as 10% after E. coli outbreak. The bacteria has caused one death and ten hospitalizations in Colorado and Nebraska. Burger chain is working with CDC and other government agencies to find source of outbreak. The popular Quarter Pounder sandwich is believed to be the culprit. McDonald’s (MCD) stock plunged as much as 10% afterhours on Tuesday when the Centers for Disease Control (CDC) said that the burger chain had caused an outbreak of E. coli in the middle of the country. MCD stock dove from above $314 to the $280s but then recovered close to…
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