Author: FX
Gold rallied in Asia and has held its gains since in quiet holiday trading. It’s up $53 to $4147 and looking to climb for the first week in five.The gain today came in a burst in Asia and topped out at $4194 before chopping sideways.Gold 10 minutesGold has struggled since topping at $5418 just before the outset of the Iran war. The event caused reserve drawdowns and a sovereign buyer’s strike as the spike in oil prices caused currency volatility. Even as the war has ended, that’s been slow to unwind, in part because of the on-again/off-again fighting and the…
ING analysts Warren Patterson and Ewa Manthey say LME Aluminium fell towards $3,000/t as markets unwound the geopolitical risk premium from earlier Middle East tensions. An update from Emirates Global Aluminium showed 7% of pots at Al Taweelah restarted, reinforcing expectations that Gulf supply disruptions are temporary and that lost production will gradually return, easing availability concerns.EGA restart eases supply fears”LME aluminium came under renewed pressure yesterday, with the three-month price falling towards $3,000/t as the market continued to unwind the geopolitical risk premium built up during the Middle East conflict.””Sentiment was weighed down by an update from Emirates Global…
FUNDAMENTAL OVERVIEWUSD:The US dollar has weakened across the board yesterday following the US NFP report. The data wasn’t bad, but it was enough to trigger a slightly dovish repricing in interest rate expectations. The chances for a July hike dropped to 17% vs 30% before the NFP release, and the probabilities for a move in September stand now around 50%. As mentioned previously, given the Fed’s focus on inflation, the US CPI will likely be more important. For now, the US dollar will likely stay under pressure until the US CPI release due on July 14th.JPY:On the JPY side, the…
Japan’s largest union group Rengo confirms that the final tally of the annual labour talk results showed that Japanese firms have agreed to raise pay by 5.01% on average this year. This figure is of course watered down from the 5.26% according to preliminary estimates, as is typically the case.That now makes it three years in a row that Japan’s wage hikes have topped the 5% mark. The figure above follows up from the 5.25% increase in the previous year and then the 5.10% figure in the year before.Overall, this continues to support a stronger growth trend and bolsters the…
Prior 49.3Final Composite PMI 49.3 vs 49.4 prelimPrior 49.7Key findings:Activity falls to greatest extent for nearly three and a half years New orders decrease for fourth month in a row Input cost inflation eases to its lowest since MarchComment:Tim Moore, Economics Director at S&P Global Market Intelligence, said: “June data confirmed a clear loss of momentum for the UK economy during the second quarter of 2026, following a positive start to the year. The latest survey indicated a decline in service sector activity for the second month running and, although only modest, the rate of decline was the steepest since…
Services PMI 49.4 vs 48.9 prelimPrior 47.7Composite PMI 50.0 vs 49.5 prelimPrior 48.5Both the services and composite prints are 3-month highs respectively, reflecting a modest recovery in business activity in the euro area to wrap up Q2 2026. New business volume may have fallen for a fourth successive month, but at least the contraction was marginal and the joint-slowest seen over this period (matching March).Alongside some stabilisation in the manufacturing sector, it signals that the wider Eurozone economy has stabilised after two months of falling output.S&P Global notes that:”Helping to lift the eurozone economy out of its downturn were sharper…
Prior 48.1Final Composite PMI 49.5 vs 48.0 prelimPrior 48.8Key findings:Business activity falls for third month running, but cost pressures ease substantiallyJune sees further, albeit slightly slower, drop in business activity Input price inflation retreats to seven-month low Employment falls at weakest rate in current sequence of job losses Comment:Phil Smith, Economics Associate Director at S&P Global Market Intelligence: “The service sector continues to suffer from the generally more challenging economic backdrop seen since the start of the Middle East war, with demand under pressure from lower market confidence, higher prices and tighter financial conditions. The pace of contraction in services…
Services PMI 54.2 vs 50.9 expectedPrior 50.1More to come.. This article was written by Justin Low at investinglive.com. Source link
The Volume Indicator MT4 helps traders measure market activity by showing how much volume is present behind each price bar. While MetaTrader 4 doesn’t display centralized forex volume, it provides tick volume, which reflects the number of price changes during a candle. In many trading situations, this information offers valuable insight into market interest and momentum. Used alongside price action, support and resistance, and trend analysis, it can help traders avoid low-quality setups and identify stronger trading opportunities.Let’s look at how this indicator works, where it performs well, and how traders can use it in real market conditions.What Is the…
Asian stock markets reflect strong demand on Friday, as traders reconsidering hawkish Federal Reserve (Fed) bets and lower oil prices due to easing geopolitical woes have lifted demand for risk-sensitive assets.At press time, Nikkei 225 is up 1% to near 69,500, Shanghai jumps 0.45% at around 4,050, Hang Seng climbs 1% to near 23,280, and KOSPI soars over 5.8% at around 8,090.According to the CME FedWatch tool, the odds of the Fed delivering at least one interest rate hike in the September policy meeting have diminished to 53.2% from almost 64% seen on WednesdayTraders reprice Fed interest rate expectations after…