UK PMI Manufacturing dropped further from 48.4 to 45.8 in October, a 29-month low. PMI Services dropped from 50.0 to 47.5, a 21-month low. PMI Composite dropped from 49.1 to 47.2, a 21-month low. Chris Read more…
Eurozone PMI Manufacturing dropped from 48.4 to 46.6 in October, a 29-month low. PMI Services dropped from 48.8 to 48.2, a 20-month low. PMI Composite dropped from 48.1 to 47.1, a 23-month low. Chris Williamson, Read more…
EURUSD stretched its upside movement towards the descending trend line and the 50-day simple moving average (SMA) near 0.9900 but is quickly returning those gains. The MACD is holding above its trigger and zero lines Read more…
Gold stretched Friday’s upleg to an intra-day high of 1,670 before turning negative again below 1,660 on Monday. In terms of market trend, the precious metal seems to be forming a bullish double bottom pattern around 1,614, Read more…
Markets finished last week in volatile fashion after a drop on USDJPY on speculation of BOJ intervention, which also had an impact on other markets. This JPY volatility has resumed today with another back and Read more…
The Dax 40 bounces back as traders take profits ahead of another rate hike by the ECB. Sentiment has improved a bit after the bulls managed to push past 12670, prompting the opposite side to Read more…
The yen surged after Japan intervened for the second time in a month. A fall below 146.70 forced some buyers to bail out but has barely dented the bullish bias. The overall rally had accelerated Read more…
The US dollar softened after Treasury Secretary Yellen said inflation was not entrenched. After receding from the previous high at 1.1500, the pound found support at the base (1.1100) of the current rebound. This is Read more…
Gold price started a decent increase from the $1,620 zone against the US Dollar. The price gained strength and was able to clear the $1,640 resistance zone. The pair even climbed above the $1,650 level Read more…
Daily Pivots: (S1) 164.65; (P) 167.12; (R1) 169.25; More… Intraday bias in GBP/JPY remains neutral for the moment. Some consolidations could be seen but downside should be contained above 159.71 support to bring another rally. Read more…