Author: FX
Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Trend in GBP/USD remains bullish”The manufacturing print disappointed with a relatively deep contractionary print of 45.1 while services climbed just above the expansion threshold, printing 50.2.””The trend in GBP/USD remains bullish, with consolidation just below Wednesday’s multi-year high. The RSI is just below 60, leaving ample room for further near-term gains. Near-term support is expected below 1.33.” Source link
RiverNorthPhotographyAdvance Auto Parts (NYSE:AAP) soared in early trading on Thursday after topping revenue and EPS estimates with its Q1 earnings report. During the quarter, Advance Auto Parts (NYSE:AAP) also successfully completed its store footprint optimization within an Source link
Prior 48.4Services PMI 47.2 vs 49.5 expected Prior 49.0 Composite PMI 48.6 vs 50.4 expected Prior 50.1 Key findings:HCOB Flash Germany Composite PMI Output Index at 5-month low. HCOB Flash Germany Services PMI Business Activity Index at 30-month low. HCOB Flash Germany Manufacturing PMI Output Index at 3-month low. HCOB Flash Germany Manufacturing PMI at 33-month high.Comment:Commenting on the flash PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: “These numbers paint a mixed picture – there are both positives and negatives here. On the bright side, manufacturing is doing better, as output has been…
The MTF PCCI-as a Filter MT4 Indicator, is designed to help traders spot the most important market signals, helping them make more informed decisions. It does this by using a Multi-Time Frame (MTF) approach and the Percentage Price Channel Index (PCCI) to smooth out market noise. By analyzing price action across different time frames, this indicator highlights potential trends while filtering out unreliable data. Traders can use it to find clearer entry and exit points, which is crucial in today’s fast-moving markets. How the MTF PCCI-as a Filter MT4 Indicator Works The MTF PCCI-as a Filter MT4 Indicato,r combines the…
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $61.60 per barrel, up from Wednesday’s close at $61.23.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $64.23 price posted on Wednesday, and trading at $64.56. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered…
Vietnam says more tariff negotiations with US needed Source link
The euro has been sliding against the British pound since mid-April, but EUR/GBP may be nearing a key inflection point that could spark a longer-term bounce. We’re zooming into the 4-hour chart to see if the tides are about to turn! EUR/GBP 4-hour Forex Chart by TradingView Sterling got a boost earlier this week from hotter-than-expected UK inflation, but the rally quickly faded. Some traders locked in profits, while others likely focused on Bank of England (BOE) officials downplaying the staying power of high prices. At the same time, the euro is holding up as a go-to alternative when the…
Gold’s longer-term uptrend is looking pretty steady, but the precious metal is hitting a ceiling at a new downtrend channel forming. Will it retreat again? Take a look at these near-term inflection points I’m watching on the 4-hour time frame: Gold (XAU/USD) 4-hour Forex Chart by TradingView Gold bounced off its long-term rising trend line support earlier this month while markets remain wary of global trade tensions and geopolitical risks. However, price has been forming lower highs and lower lows since mid-April, suggesting weakening upside momentum. XAU/USD is hovering at the top of a descending channel formation around R1 ($3,312.91)…
U.K. inflation surprised to the upside in April, with consumer prices rising at their fastest annual pace since March 2024, driven by higher energy bills and water rates. The headline CPI figure of 3.5% came in above economists’ expectations, who had predicted a rise to 3.3% for the month. The largest upward contributions to the monthly change came from housing and household services, transport, and recreation and culture. This was partially offset by a downward contribution from clothing and footwear. Key Takeaways: Headline CPI rose to 3.5% year-on-year in April, up from 2.6% in March Core inflation (excluding food, energy, alcohol…
U.S. House Rules Committee approves Trump’s tax-cut billSets stage for full House floor vote on the bill This article was written by Eamonn Sheridan at www.forexlive.com. Source link