Author: FX
US ISM SERVICES KEY POINTS: Recommended by Zain Vawda Introduction to Forex News Trading US ISM services PMI remained robust in November, topping estimates coming in at 52.7 in November 2023 from 51.8 in October. Activity in the services sector has now expanded for the 11th consecutive month following todays print. The services sector had a slight uptick in growth in November, attributed to the increase in business activity and slight employment growth.Source: ISMAt the same time, new orders remained strong (55.5, the same as in the previous month) and inventories rebounded (55.4 vs 49.5) while price pressures slowed slightly…
© Reuters. (Reuters) – Trucking company XPO Inc won a bid to buy 28 service centers of bankrupt Yellow (OTC:) Corp for $870 million in a closely watched auction of the nearly 100-year-old firm’s assets. XPO shares were down 3.8% in morning trade amid weakness in broader markets. Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy protection in August after blaming the International Brotherhood of Teamsters union for its demise. The company was one of the nation’s largest so-called less-than-truckload carriers in the U.S. and owned about 12,000 trucks and 35,000 trailers and its customers included Walmart (NYSE:)…
Headlines:Markets:JPY leads, AUD lags on the dayEuropean equities mixed; S&P 500 futures down 0.4%US 10-year yields down 6 bps to 4.226%Gold down 0.3% to $2,024.61WTI crude flat at $73.07Bitcoin down 0.6% to $41,7979It was a session mostly swayed by risk flows, as bond yields retreated while equities remain on the softer side after a stuttering start to the new week yesterday. European yields might have been somewhat affected after ECB hawk, Isabel Schnabel, pretty much confirmed a stop to rate hikes. However, it isn’t anything that markets don’t already know if you are to look at the ECB pricing to…
Article by IG Chief Market Analyst Chris BeauchampDow Jones, Nasdaq, Hang Seng – Analysis and ChartsDow consolidates after surgeLast week saw the index surge to its highest level since January 2022.A 12% gain in the space of a month does arguably leave the index looking vulnerable in the short-term, though for the moment there is little sign of any pullback. A close back below 35,700 might indicate some fresh short-term weakness was developing.Additional gains cannot be ruled out, and the next level to watch is 36,560, and then to the record high at 36,954.Dow Jones Daily ChartTrading is all about…
Assa Abloy acquires Leone Fence in Canada Source link
December has been a GOOD month for bitcoin (BTC/USD), which hit monthly highs of $42K after starting the month just under the $38K mark. If you’ve just tuned back to the crypto space, you should know that a combo of interest rate cut bets, anti-USD sentiment, and anticipation of bitcoin ETFs getting approved have pumped BTC/USD up the charts in the last couple of weeks. The pair got extra extra attention this week after it hit new 2023 highs at $42K. Heck, those are levels not seen since April 2022! This Article Is For Premium Members Only Become…
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It was a busy day in Asia on Tuesday with a couple of inflation data releases leading. South Korea was first, with its November CPI. South Korean data does not often get a mention in the wrap but today’s release showed the m/m headline CPI with its sharpest drop, -0.6% m/m, since October 2020. The core rate recorded its slowest y/y rise since March 2022.For Japan we then had Tokyo area inflation for November. All three inflation indicators for the month remained well above the Bank of Japan’s 2% target but they all dropped from the October reading and all…
Share: AUD/USD loses traction near 0.6575 following the Reserve Bank of Australia (RBA) monetary policy meeting. The RBA decided to hold the rate unchanged at 4.35%, as widely expected. The market has priced in 97% odds that the Fed will keep the rate unchanged at a range of 5.25% to 5.50% in the next meeting. Investors will monitor the US ISM Services PMI, due later on Tuesday. The AUD/USD pair loses ground below the 0.6600 psychological round mark during the Asian trading hours on Tuesday. The pair faces some selling pressure after the Reserve Bank of Australia’s (RBA)…
FORECAST – GOLD, EUR/USD, NASDAQ 100Gold prices retreat after failing to sustain Monday’s brief bullish breakoutThe Nasdaq 100 also loses ground, dragged lower by the rebound in U.S. Treasury yieldsEUR/USD slides but finds support around its 200-day simple moving average Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Flies as US Yields Spring Back to Life, Setups on USD/JPY, AUD/USDGold prices soared early Monday during the Asian session, hitting a fresh record just shy of $2,150. However, this bullish explosion swiftly transformed…