Author: FX
And that is pared back from around the middle of next year before this. So, what changed? I detailed some thoughts earlier in my post about GBP/USD:”For one, there are a couple of things to be mindful of with the UK headlines today. With regards to the PMI data, the economy looks to be in better shape than feared in Q4 and that will give the BOE more breathing room on rates. Besides that, the data also highlights more stubborn inflation pressures and that will see the central bank stick with a more hawkish rhetoric for as long as they…
Euro AnalysisGerman manufacturing and services sectors register meagre surprise to the upsideEUR/USD rises but pulls back to levels observed ahead of the releaseFew catalysts this week point to potentially lower volatility as markets speculate on 2024 rate cutting cycleThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryGerman manufacturing PMI preliminary data beat the consensus view of 41.2, coming in at 42,3 to mark a partial recovery in what has been a steady contraction thus far. The services sector also outperformed against expectations, coming in at…
Share: UK Manufacturing PMI rose to 46.7 in November, above expectations of 45.0. Services PMI in the UK jumped to 50.5 in November, a big beat. GBP/USD rallied hard on strong UK business PMIs but quickly pared back gains. The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rose to 46.7 in November versus the 45.0 expected and, 44.8 – October’s final print. more to come … Source link
AUD/USD ANALYSIS & TALKING POINTSAustralian PMI’s concerning but encouraging news from China and a weaker USD keep the AUD elevated.Thanksgiving Day sees no additional high impact data scheduled for today.AUD/USD faces key resistance at 200-day MA.Elevate your trading skills and gain a competitive edge. Get your hands on the AUSTRALIAN DOLLAR Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar kicked off the morning with some disappointing PMI data (see economic calendar below). Both Judo Bank manufacturing…
Nikada Japan (NKY:IND) market closed. China (SHCOMP) +0.53%. Mainland stocks also tracked gains on Wall Street overnight as US stocks staged a broad rally heading into the Thanksgiving holiday. Hong Kong (HSI) +0.33%. India (SENSEX) -0.01%. Australia (AS51) -0.62%. Australian preliminary PMI for November: Manufacturing 47.7 (prior 48.2). The Judo Bank Australia Services PMI dropped to 46.3 in November 2023, from 47.9 in the previous month. In the U.S. on Wednesday, all three major indexes ended higher amid easing Treasury yields ahead of the Thanksgiving Holiday. Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD). More on the markets Source link
© Reuters. The euro experienced a notable increase during Thursday’s Asian trading hours, as it crossed the significant threshold of 1.0900, settling at around 1.0905, representing a 0.16% rise. Despite a quiet trading environment in U.S. financial markets due to Thanksgiving celebrations, anticipation is building for the upcoming release of Eurozone PMI data and the European Central Bank’s (ECB) meeting minutes. Technical analysis indicates that the pair is gaining momentum, supported by its position above key Exponential Moving Averages (EMAs) and a Relative Strength Index (RSI) that signals bullish market sentiment. These indicators suggest sustained interest from buyers in the…
USD/JPY looks ready to turn lower after retesting a broken technical support area. Are we looking at a break-and-retest setup in the making? Let’s take a closer look at USD/JPY’s 4-hour time frame: USD/JPY 4-Hour Forex Chart by TradingView First, remember that directional biases and volatility conditions in trading are typically driven by fundamentals. If you lack a fundamental-based price outlook for USD/JPY, it’s time to do some digging by checking out the forex calendar and stay updated on daily fundamental news! When you’re convinced that the U.S. dollar can keep losing pips against the Japanese yen, then you may…
Reserve Bank of Australia Governor Bullock spoke Wednesday evening Australian time:RBA Governor Bullock: Inflation is broad-based, trimmed mean remains too highNational Australia Bank expects another RBA rate hike, at the February 2024 meeting. NAB assess Bullock’s remarks yesterday:The Governor explained that “the remaining inflation challenge we are dealing with is increasingly homegrown and demand driven” and “a more substantial monetary policy tightening is the right response to inflation that results from aggregate demand exceeding the economy’s potential to meet that demand”. In the Q&A, Bullock said she expects a new Statement on the Conduct of Monetary Policy (SCMP) may be…
Share: The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1212 as compared to the previous day’s fix of 7.1254 and 7.1512 estimates. Source link
In the world of forex trading, precision and strategy are the keys to success. Traders are always on the lookout for tools and indicators that can help them make informed decisions and minimize risks. One such indispensable tool is the Last High Low Stop Loss MT4 Indicator. In this article, we will delve into the intricacies of this indicator, exploring its features, benefits, and how traders can effectively use it to enhance their trading strategies. Understanding the Last High Low Stop Loss MT4 Indicator Before we dive into the details, let’s grasp the basic concept of the Last High Low…