Author: FX
Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.3% on a yearly basis in October from 2.1% in September, the US Bureau of Economic Analysis (BEA) reported on Wednesday. Follow our live coverage of the US PCE inflation report and the market reaction. The core PCE Price Index, which excludes volatile food and energy prices, increased 2.8% in the same period, up from 2.7% in September and in line with analysts’ estimate. The core PCE Price Index rose 0.3% on a monthly basis, as anticipated. Market reaction to…
BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Wednesday he hoped a trade deal between the European Union and the South American Mercosur bloc would be signed by the end of this year, even as it faced opposition, mainly from France. “We will get it done,” Lula told an event hosted by industry group CNI in Brasilia, shrugging off French opposition and noting the deal was being negotiated directly with European Commission President Ursula von der Leyen. “Von der Leyen has the mandate to make this agreement, and I intend to sign it this year.” Mercosur…
As the global online trading landscape constantly evolves, with new trends emerging all the time, brokerages are having to rise to the challenge by delivering the best products and services to adapt to shifting trader preferences.One particular area that has experienced a notable surge in popularity is copy trading, capturing the excitement of retail traders worldwide due to the quick and easy way in which traders can replicate the strategies of top performers.With demand continuing to grow, the need for effective copy trading tools has also increased, meaning companies are adapting quickly, developing innovative solutions to help them stand out…
S$NEER continued to ease; last at 0.9% above model-implied mid. Looking back, SGD has been easing since Oct-2024 on trade-weighted terms even as MAS maintained policy status quo. Pair was last seen at 1.3431. Signs of some degree of bearish pullback in the near term “That said, SGD remains stronger vs. peers in the basket but it is just less strong today (vs. than for most of the year). Historically the positive correlation between the change in S$NEER and MAS core inflation shows that SGD strength can ease when core inflation eases materially. Monday’s release of CPI report saw both…
BingEx Limited press release (NASDAQ:FLX): Q3 GAAP EPS of -$0.03. Revenue of $164.6M (-3.31% Y/Y). The number of orders fulfilled for the nine months ended September 30, 2024, was 211.4 million, representing an increase of 7.1% year-over-year, with the fulfilled orders in the third quarter contributed 73.3 million. Source link
SHANGHAI (Reuters) – Volkswagen (ETR:) will exit its controversial plant in China’s Xinjiang region, after years of investor pressure to abandon its presence in the region, where rights groups have documented abuses including mass forced labour in detention camps. Volkswagen and its Chinese partner agreed to sell the asset to a Shanghai government-owned buyer, the German car maker said on Wednesday, confirming an earlier report by Reuters. The move will bring to an end years of mounting investor pressure to abandon VW’s presence in the region, where rights groups have documented abuses including mass forced labour in detention camps. Beijing…
The Reserve Bank of New Zealand (RBNZ) cut its Official Cash Rate (OCR) by 50 basis points from 4.75% to 4.25% in November, marking its second consecutive rate cut after October’s surprise move. In its statement, RBNZ noted that inflation has returned within its target band, with annual consumer price inflation falling to 2.2% in Q3 2024. The central bank particularly noted the sharp decline in tradables inflation to -1.6%, while emphasizing that non-tradables inflation still needs to decline further to sustainably meet their inflation target. Link to RBNZ’s November 2024 policy statement RBNZ members were concerned about continued weakness…
In Europe, we’ll only have to deal with a couple of light releases. The most notable is the German GfK consumer sentiment but even that isn’t really a market mover by any form.The main events today are all in US trading as we will be getting a flurry of economic data before the Thanksgiving holidays. Of note, we will get the Q3 GDP second estimate and PCE data, durable goods orders, weekly initial jobless claims, trade balance, and also the monthly PCE price index. That will definitely make for a more interesting end to the holiday-shortened week with month-end shenanigans…
Gold prices rose in Philippines on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 4,997.04 Philippine Pesos (PHP) per gram, up compared with the PHP 4,983.03 it cost on Tuesday. The price for Gold increased to PHP 58,284.54 per tola from PHP 58,121.11 per tola a day earlier. Unit measure Gold Price in PHP 1 Gram 4,997.04 10 Grams 49,970.44 Tola 58,284.54 Troy Ounce 155,425.50 FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straight forward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the Flip 55 strategy has identified a trading opportunity on the USD/CHF pair within the H4 timeframe. I’ve shared a trade setup image for…