Author: FX
S&P Global Services PMI continued to decline in December. US Dollar Index stays in negative territory below 104.50. S&P Global Services PMI declined to 44.4 in December’s flash estimate from 46.2 in November. This print fell short of the market expectation of 46.8. Regarding the price pressure in the service sector, “inflationary pressures in the service sector cooled notably in December, as input costs rose at the softest pace since October 2020,” said S&P Global. “Despite some material and labor costs rising, reports of lower wholesale and fuel prices eased pressure on cost burdens.” Further details of the publication revealed…
AUDUSD has good support and resistance in playThe AUDUSD is lower on the day now after rising in the early Asian session. The high price for the day fell short of the swing area between 0.6738 0.67437 (see red numbered circles and lower yellow area on the chart above). The high price could only reach 0.67353 before rotating back to the downside.The price it just moved down to retest the low price from yesterday at 0.6676. The low price 0.66745. Just below those levels since the 100 day moving average currently at 0.6669. The low price from December 7 (and…
Swiss franc weakens amid higher European bond yields. US Dollar firm on the back of risk aversion. USD/CHF up on Friday, but still down for the week. The USD/CHF is rising for the second day in a row. It hit a four-day high at 0.9318 and the pulled back following the US S&P Global PMI that came in below expectations. Still, the Dollar continues to receive support from risk aversion. USD/CHF off highs, still up The USD/CHF pulled back to 0.9290 after the economic report but it is still up for the day supported by a stronger US Dollar across…
S&P Global Manufacturing PMI continued to edge lower in early December. US Dollar Index declined below 104.50 with the initial reaction. The economic activity in the US manufacturing sector continued to contract at an accelerating pace in early December with S&P Global Manufacturing PMI dropping to 46.2 from 47.7 in November. This reading came in worse than the market expectation of 47.7. “Manufacturers registered one of the sharpest declines in new orders since the 2008-9 financial crisis during December, as customer spending waned,” S&P Global said in its publication. “The further acceleration in the pace of contraction in new business…
EUR/USD surged to its strongest level in over six months at 1.0737 on Thursday. Nonetheless, economists at MUFG Bank expect the pair to struggle to see more gains from here. Scope for further notable gains in EUR/GBP “The worsening risk sentiment means EUR/USD is unlikely to shoot further higher from here. Gains for the Euro versus the higher-beta G10 currencies seems more likely. That would be consistent with market conditions turning more volatile which could be the key consequence of some of these central bank meetings this week.” “Following the more cautious message on future rate hikes by the BoE…
imaginima Oneok (NYSE:OKE) on Friday was upgraded to an Overweight investment rating from Equal Weight and Williams (NYSE:WMB) was downgraded to Equal Weight from Overweight by analysts at Wells Fargo Securities. The rating changes were part of the bank’s adjustments of its 2023 outlook for master limited partnerships ((MLPs)) in oil and natural gas processing, storage and distribution – known as the midstream part of the energy industry. “We’re positive on midstream heading in 2023 as we believe the sector’s solid underlying fundamentals, reasonable valuations and improved free cash flow should support outperformance on a relative basis,” Michael Blum, analyst…
From its September low around 0.9410, EUR/CHF has recovered some ground. In view of the safe haven dynamic of the Franc, the growth risks in the Eurozone complicates the outlook for the pair, economists at Rabobank report. Hawkish tone of the ECB initially provided further support for EUR/CHF “The hawkish tone of the ECB initially provided further support for EUR/CHF. However, the ECB’s policy is essentially aimed at curbing an inflation rate which is to a large extent being led by higher energy and food prices. Tighter financial conditions combined with the risk that energy prices may rise again next…
3/3 © Reuters. People wait in line at a coronavirus disease (COVID-19) test centre in Xinyang, China, this still image obtained from social media video released December 15, 2022. Video obtained by REUTERS 2/3 By Kevin Yao and Albee Zhang BEIJING (Reuters) -President Xi Jinping and his senior officials pledged to shore up China’s battered economy next year as the deaths of two veteran state journalists highlighted the worsening spread of COVID-19 in the capital Beijing. Xi and his leaders ended their two-day Central Economic Work Conference with a call, via state media, to step up policy adjustments and strengthen…
– Reviewed by James Stanley, Nov. 24, 2021Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Greed can very easily turn good trades into bad ones and bad trades into worse trades. This article provides a number of tips to control greed and how to stop it interfering with your trading success.What is greed in trading and how does it impact trader success?Greed can be described as an intense desire for something and often manifests…
Challenges are expected in forex trading, but have any of these become big enough to turn into major obstacles for you? Here are some of the typical barriers to profitability and how you can overcome them. 1. Insufficient capital One of the first barriers to trading for many is the lack of financial capital to put in a live account. While some have a good amount of savings and a steady stream of income, this does not always guarantee enough capital for trading. After all, you should only trade money that you can afford to lose while at the same…