Author: FX
Both of the Caixin PMIs outperformed official PMIs. The two are different surveys. China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global.The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China’s private sector.Another difference between the two surveys is their methodology. The…
The Blahtech Candle Timer MT5 Indicator eliminates this guesswork. It’s a user-friendly tool that seamlessly integrates with the MetaTrader 5 platform, providing a real-time countdown to the closing of the current candle. This seemingly simple functionality can have a profound impact on your trading strategy. Understanding Candle Formation in MT5 Before diving deeper into the Blahtech Candle Timer, let’s revisit the fundamentals of candle formation in MT5. Price charts in MT5, like most trading platforms, utilize candlesticks to visually represent price movement over a specific timeframe. These timeframes can range from seconds to months, offering traders a flexible way to…
The Awesome Oscillator, conceived by Bill Williams, serves as a momentum indicator that tracks the interaction between market momentum and price movements across various timeframes. Its primary function is to identify potential reversals or continuations by examining the relationship between its oscillations and price action. On the other hand, the Waddah Attar Explosion indicator, devised by T. Henning Murrey, adds a layer of depth by analyzing trading volumes. This supplementary analysis provides insights into the strength and sustainability of price trends, offering traders a more comprehensive view of market dynamics. When integrated, these indicators form a robust framework for traders…
Australian Gross Domestic Product is expected to post a modest 1% yearly advance. The Reserve Bank of Australia will monitor GDP figures before the September meeting. Australian Dollar likely to extend its decline with the expected tepid figures. Australia will release Gross Domestic Product (GDP) figures on Wednesday. The Australian Bureau of Statistics (ABS) is expected to report that the economy grew 0.3% in the second quarter (Q2) of the year and 1% in the twelve months to June. Annual growth in the first quarter printed at 1.1%. Should the expected 1% be confirmed, it will be the lowest pace…
monsitj/iStock via Getty Images Gold futures edged lower for the second straight session on Tuesday but still remain close to record highs reached on August 29. The U.S. dollar index climbed 0.2% to a two-week high, making gold more expensive for other currency holders, with traders turning their focus to Friday’s U.S. payrolls report along with ISM surveys, JOLTS job openings and the ADP employment report due later this week. “If the U.S. jobs report is significantly weaker, speculation about a U.S. recession and faster rate cuts will resurface, further supporting gold,” Commerzbank said, according to Reuters. Front-month Comex gold…
Analysts at Bank of America Global Research have cut GDP forecasts:for 2024 China to 4.8%, from 5.0% previouslyfor 2024 global GDP to 3.1% from 3.2% previouslyThe China call is a brave one. China’s official GDP target is ‘around’ 5%. China tends to hit its forecasts, whatever it takes 😉 This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Mexican Peso on backfoot as Congress votes on controversial judicial reform. Morena’s supermajority is expected to pass the bill to the Senate, where they don’t have the majority. Mexico’s Unemployment Rate rises in July, reflecting economic weakness. The Mexican Peso prints minumal losses for the second straight day against the Greenback, yet it has recovered some ground. The USD/MXN fell from around 19.98 after the release of the US Institute for Supply Management (ISM) Manufacturing PMI report. The USD/MXN trades at 19.79 and gains some 0.05% at the time of writing. Political turmoil in Mexico weighs on the Mexican currency…
nopparit/iStock via Getty Images Keros Therapeutics (NASDAQ:KROS) traded higher on Tuesday after announcing that it has closed screening in its Phase 2 TROPOS trial for its lung disorder therapy cibotercept (KER-012). The global placebo-controlled trial is designed to evaluate cibotercept with background therapy for pulmonary arterial hypertension (PAH), a disease area served by United Therapeutics (UTHR), Johnson & Johnson (JNJ), and Merck (MRK). With screening for TROPOS closed, Keros (KROS) said it plans to complete enrollments by the end of September. The company is eyeing a topline data readout in Q2 2025, which, according to its CEO Jasbir Seehra, indicates…
Nvidia shares are currently trading down $-9.02 or -7.56% at $110.37. That is right at its 100 day moving average at $110.36. The low price did reach $109.40 below that moving average. BearishThe current decline is on pace for its worst trading day since April 19, 2024 when the price fell -10%. The price is down three of the last four trading days. The high price last week on August 26 (just before earnings) reached $131.26. That equates to decline of 16% from that high.As Nvidia goes so does the NASDAQ index and other Magnificent 7 stocks: Meta–1.39% Apple -2.26%…
The Mexican Peso trades slightly lower in its key pairs but remains in a firm downtrend overall. The passage of constitutional reforms as they are debated might provide volatility for MXN going forward. USD/MXN pauses within an uptrend inside a rising channel. The Mexican Peso (MXN) trades lower in its key pairs on Tuesday as a mood of calm pervades markets although proposed reforms to the Mexican constiution currently being debated in the Mexican congress are weighing on the currency as experts fear they will harm inward investment if passed into law. Just-released Mexican Jobless data showed an uptick in the number off…