Author: FX

Here’s the story on the PMIs so far today:UK July flash services PMI 51.5 vs 53.0 expectedEurozone July flash services PMI 51.1 vs 51.5 expectedGermany July flash manufacturing PMI 38.8 vs 41.0 expectedFrance July flash services PMI 47.4 vs 48.4 expectedJapan Jibun preliminary July PMIs: Manufacturing 49.4 (prior 49.8) Services 53.9 (54.0)Australia preliminary PMI: Manufacturing 49.6 (prior 48.2) & Services 48.0 (prior 50.3)The European numbers are poor and that has weighed on the euro and pound so far today. I spoke last week about the opportunity to sell the euro and it’s because the economy is weakening and the ECB…

Share: USD/CAD holds range around 1.32 in quiet trade. Economists at Scotiabank analyze the pair’s outlook. Short-term patterns underscore firm USD resistance around 1.3225 Minor gains for the CAD on the session so far reinforce – at least in the short run – resistance in the low 1.32 zone but extend the recent pattern of flat, sideways range trading around the figure area a little longer.  Short-term patterns underscore firm USD resistance around 1.3225 and the daily and weekly DMI oscillators continue to trend negatively for the USD, which helps account for USD/CAD’s inability to rally significantly. It…

Forex traders always harp about maintaining discipline and always following the trading plan. But while having discipline is a very important trait for a trader, we also have to be wary that if we’re too stuck in our ways, we’ll end up imposing our ideas on what the market should do instead of reacting to what is actually happening. All you really gotta do is question the market. Really, it’s that easy. Why you ask? Well, asking questions enables you to look at different perspectives of the market that you initially may not be aware of. Keep that in mind when you ask questions.…

Gold Price (XAU/USD) Analysis, Price, and ChartRisk events start today with US PMIs.Retail traders remain heavily long of gold. Recommended by Nick Cawley Download Your Brand New Q3 Gold Forecast A week packed full of high-importance economic releases, central bank meetings, and mega tech stock earnings, starts today with the release of the latest S&P Global PMIs at 14:45 UK time. While expectations for the US releases are little changed from last month, if they are anything like today’s Euro and UK sentiment numbers then they may be set to disappoint the market. German, UK, and Euro manufacturing, services, and…

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© Reuters. By Matt McKnight BICKLETON, Washington (Reuters) -A fast-growing wildfire forced residents to evacuate a rural stretch of southern Washington state’s Klickitat County on Saturday after it burned more than 30,000 acres in less than 24 hours. The Newell Road Wildfire has already destroyed several structures in the area and is threatening homes, farms, crops and livestock, solar and wind farms and a pipeline, county emergency officials said. The fire was also moving toward the Yakama Indian Reservation, Allen Lebovitz, a spokesperson for the state’s Department of Natural Resources, said in an interview in Bickleton, a community of about…

The three main central bank policy decisions to watch this week will be the Fed (Wednesday), ECB (Thursday), and BOJ (Friday). So, what are markets expecting and is there any room for surprises to follow?Fed funds futures are showing a near 100% pricing for a 25 bps rate hike as seen hereMoney markets are also pricing in a near 100% pricing (99.8%) for the ECB to raise rates by 25 bpsAfter Ueda tempered with market expectations, the view now is that the BOJ isn’t going to tweak policySo, among all of that, what is the propensity for each central bank…

I’m seeing a steady climb on EUR/JPY! Could this pair use a correction before the flash PMIs are printed, though? Looking at the top-tier market catalysts on deck suggests that the global PMI readings might set the tone for risk-taking for the week ahead. EUR/JPY 15-min Forex Chart by TV Number crunchers are predicting slight improvements in the manufacturing and services sectors of Germany and France, so we might see an uptick for the shared currency in that case. Stronger than expected figures might even be enough to boost risk appetite early in the week, dragging the lower-yielding yen down.…

Share: USD/CNH bulls prod 200-SMA during two-day winning streak, clings to mild gains of late. Looming bull cross on MACD, sustained trading past short-term support line favors Chinese Yuan sellers. Three-week-old descending resistance line adds to the upside filters. USD/CNH struggles to defend buyers around 7.1980 heading into Monday’s European session, jostling with the 200-SMA of late. In doing so, the offshore Chinese Yuan (CNH) justifies the looming bull cross on the MACD indicator by staying beyond a fortnight-old rising support line. It’s worth noting that the 38.2% Fibonacci retracement of June 02-30 upside, near 7.2020, will act…

NZD/USD, AUD/NZD, EUR/NZD – Outlook:NZD remains within its well-established range.Tentative signs at best that AUD/USD is attempting to form a higher base.EUR/NZD needs to break above 1.81 is needed for the upward pressure to resume. Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast Those looking for directional plays in the New Zealand dollar against some of its peers may have to wait a little longer, at least until there are signs of divergence in monetary policy outlooks.Converging monetary policy outlooks have left currency pairs to the ebb and flow of data, which tends to be at best…