Monday, November 30, 2020

Strong Chinese PMI Numbers

Market movers today There are no significant market movers today, so COVID-19 developments and restrictions together with Brexit negotiations are in focus. On Brexit,...

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OPEC+ Facing Hard Choices

Crude oil futures were trading lower Monday morning as market participants closely watched OPEC members and their allies as they began a two-day meeting...

The US Dollar Finally Succumbed To All The Pressure This Morning

Markets The US dollar finally succumbed to all the pressure this morning. The trade-weighted greenback changes hands below 91.73/91.75 support. The former is the...

Gold Prices Could Bounce Higher In The Short Term

The precious metal continued to move lower following a brief pause for two sessions. However, as prices make a new low, there is a...

WTI Crude Oil Settles Back Near $45.50

Oil prices pared losses to close on a bullish note on Friday. This put price action back near Wednesday’s highs close to the $45.50...

GBP/USD Gives Back Gains, Falling To 1.3300 Technical Support

The British pound sterling gave back some of the gains on Friday, to close on a bearish note. This move saw price action falling...

Euro Resumes Gains Following Trend Line Support

The euro currency closed on the higher side on Friday, following a flat close on Thursday. The gains come as the rising trendline sees...

Fed: A clear shift in language – ING

James Knightley, chief international economist at ING, noted that the big change in the accompanying statement is the dropping of the description of the...

EUR/USD remains firm around 1.1300 post-US data

EUR/USD eases a tad from tops near 1.1320. US Philly Fed index dropped to 0.3 in June. EMU Consumer Confidence coming up next in the docket. The...

Goldman Sachs’s CFO Scherr: Germany is in the “early days of a slowdown”

In a CNBC interview held in Frankfurt on Thursday, Goldman Sachs Chief Financial Officer (CFO) Stephen Scherr expressed his concerns on the German eco

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Regulation

BoE Preview: Sword of Damocles – Rabobank

Analysts at Rabobank offered their take on the upcoming Bank of England (BoE) meeting and expect the central bank to leave the policy rate...

Elliott Wave View: Gold Extends Higher

Gold (XAUUSD) shows a higher high sequence from 6.5.2020 low favoring further upside. Up from 6.5.2020 low, the precious metal extended higher in wave...

Forex Today: Trade tensions keep markets jittery and yen topples 110 vs the greenback again

Forex today was once again trading around the trade war noise and subsequent risk appetite on the street. It was pretty volatile across the financial...

NY Fed's GDP Nowcast for second quarter rises to 2.2%

In its latest Nowcasting Report, the Federal Reserve Bank of New York said the Nowcast rose to 2.2% for the second quarter of 2019 from...

Winners from the US-China trade war – Wells Fargo

Analysts at Wells Fargo, studied the impact of US tariffs on Chinese imports. They concluded that winners vary by industry, but the key benefactors...

Crude Oil Surges On Hopes Of Trump Intervention

Crude oil had its best day in history yesterday as traders hoped that Saudi Arabia will reduce production. The biggest gain came from the West Texas Intermediate (WTI), which rose by 23%. Brent rose by...

Market News

Markets: Key events in the week ahead – Deutsche Bank

Deutsche Bank analysts suggest that it’s a very quiet day for data today with only the April Bank of France industry sentiment reading due. Key...

Euro And Yen Smile As Wall Street Bloodbath Accelerates

Global stocks fall apart amid growing fears of a virus-induced recession Yen and euro shine amid the mayhem, dollar and commodity currencies get hammered...

USD/INR technical analysis: 4H 100MA, 23.6% Fibo. limit immediate upside

Unless breaking 4H 100MA and 23.6% Fibonacci retracement of May-July downpour, USD/INR pullback remains less significant.

Risk-On Finds Its Groove Again

Notes/Observations US Senate reached a bipartisan agreement on virus stimulus plan Coronavirus and fiscal stimulus-related headlines remain in focus Asia: China PBOC said to...

Indonesia Core Inflation (YoY) registered at 3.12% above expectations (3.04%) in March

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Eco Data 4/3/20

The post Eco Data 4/3/20 appeared first on Action Forex.

WTI Crude Oil Gives Back The Gains, But Holds Steady

WTI crude oil prices are down over 28% on the day again. This comes just after the commodity marked a strong rebound following last week’s...

Australia employment rose 11.47 in July, participation rate jumped

Australia employment rose 114.7k to 12.46m in July, better than expectation of 40k. It’s also a positive for full-time job to rise 43.5k to 8.55m....

UK opposition leaders: PM Johnson open to use anti-democratic means to force through no-deal

Confirming the latest comments from UK opposition politicians about their willingness to stop a no-deal Brexit, "The leaders of the opposition parties

Crude Oil Look For 52.30

Pivot (invalidation): 51.10 Our preference Long positions above 51.10 with targets at 52.00 & 52.30 in extension. Alternative scenario Below 51.10 look for further downside...

WTI’s Perfect Bearish Storm Approaching Key Support Near 25.00

Even in a lifetime oil bear’s wildest dreams, it would be impossible to conceive of a more perfect storm for oil prices falling precipitously: Crude...

NZIER: RBNZ should keep rates on hold this week

At the Reserve Bank of New Zealand (RBNZ) cash rate meeting this week, the New Zealand Institute of Economic Research (NZIER) 'Shadow Board' recommends that the central...

Little Progress for Canadian Retail Sales in 2019

Retail sales unchanged in December – capping a soft year in 2019 E-commerce sales (not all of which are counted in the retail sales total)...