Germany’s November PMI data indicates a modest improvement in its economic situation, albeit still within recessionary bounds. Manufacturing PMI rose from 40.8 to 42.3, marking a six-month high, and Services PMI increased from 48.2 to Read more…
Recent PMI data for France underscores a deepening economic downturn. Manufacturing PMI dropped to a 42-month low, down from 42.8 to 42.6 in October, while Services PMI exhibited a negligible rise from 45.2 to 45.3. Read more…
The gold (XAU) price dropped by 0.43% on Wednesday after higher-than-expected Michigan Consumer Sentiment Index figures. Possible effects for traders A technical rise of the U.S. Dollar Index (DXY) and the proximity of a 2,000 Read more…
The Japanese yen (JPY) lost 0.76% on Wednesday as the U.S. Dollar Index (DXY) corrected upwards following a better-than-expected Consumer Sentiment report and a smaller-than-expected increase in Jobless Claims numbers. Possible effects for traders USDJPY Read more…
AUDUSD faces strong battle near 200-day SMA MACD and RSI suggest bullish bias AUDUSD could not find enough buyers to expand Tuesday’s bull run above the three-month high of 0.6590, closing with some losses on Read more…
Markets The US 2-yr yield tested the post-CPI high (4.94%) yesterday following the release of first weekly jobless claims (209k from 233k vs 227k expected) and next an upward revision to short term (1yr: 4.5% Read more…
OPEC decided to delay this weekend’s meeting to next week because talks between Saudi and African members apparently ran into trouble. Saudi likely sensed in this week’s poor price action – ‘buy the fact that Read more…
Market movers today Today will be the most exciting day of the week on the macro front. On the global front we get preliminary Euro zone PMIs for November. We look for a rise in Read more…
Daily Pivots: (S1) 1.0854; (P) 1.0888; (R1) 1.0924; More… EUR/USD is staying in consolidation below 1.0964 and intraday bias remains neutral first. Further rally is in favor as long as 1.0823 support holds. Sustained break Read more…
Daily Pivots: (S1) 148.46; (P) 149.10; (R1) 150.19; More… USD/JPY retreated after hitting 55 4H EMA (now at 149.62) holds. Intraday bias is turned neutral first, and further decline is expected. Break of 147.14 will Read more…