Author: FX
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…
The new rules will see policymakers no longer be allowed to invest in individual stocks or bonds but only in “broadly diversified” funds and will have to hold those investments for at least a year (previously a month). According to the ECB:”Under the enhanced rules, high-level ECB officials must limit their investments to publicly listed, broadly diversified collective investment schemes such as exchange-traded funds and mutual funds. A collective investment scheme is considered broadly diversified if it is not concentrated in a specific sector. Asset classes that are already held and that, following the amendments, do not fall into this…
The Swiss central bankers once again changed their intervention strategy. In the opinion of economists at Commerzbank, the situation in Switzerland will be of greater significance for the FX market. The Franc will become a currency that is more complex to value “Interventions in favour of the Franc would no longer be caused by CHF depreciation. There will only be interventions in favour of the Franc if the SNB considers it necessary from a monetary policy point of view.” “We now have to figure out whether the SNB’s monetary policy strategy is working out, in particular whether inflation develops as…
Reviewed by Nick Cawley on August 5, 2022In this series we will piece together the anatomy of a swing trade and discuss the tools along with the methodology used to construct a basic trade setup. While no one single strategy is perfect, these best practices can be utilized in conjunction with your own trading strategy to identify more favorable entry / exit points in trending market environments.Trendlines are the simplest and single most important (and largely underutilized) tool in your trading arsenal. Extending a line off key highs & lows in price is an objective way of assessing the gradient…