China’s manufacturing and services activity slows unexpectedly in October
China’s manufacturing purchasing managers’ index fell to 49.2% in October from 50.1 in September and below 50.0 forecast, while the activity in the services sector slowed more, as services PMI collapsed to 48.7 from 50.6 previous month and…
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Oil loses traction on China’s Covid measures; weak economic data
WTI oil starts week in red, dropping 2.1% in early Monday’s trading, as sentiment was soured by weak China’s manufacturing data and widening Covid restrictions, threatening of slower demand from the world’s second largest economy and…
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Dollar keeps firm tone on renewed hopes that Fed will remain aggressive on monetary policy
The dollar extends rally into third straight day Monday, advancing around 0.4% in Asia / early Europe on Monday.
The greenback received fresh support from renewed hopes that the Fed will remain on aggressive mode on November policy meeting…
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Gold price eases on revived expectations that Fed will keep its strong hawkish stance
Spot gold price was down around 1.5% by early US trading on Friday, pressured by stronger dollar on growing expectations that the Fed will deliver another 75 basis point hike in the policy meeting next week.
Optimism on further policy…
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USDJPY gains traction as BOJ sticks to ultra-loose monetary policy
The jumped vs yen on Friday after BoJ left its ultra-loose monetary policy unchanged, retracing 38.2% of post-intervention pullback from 32-year high at 151.94, which found footstep at 145.10 on Thursday.
Doji morning star reversal pattern…
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Cable eases after falling daily cloud capped rally
Cable is holding in red in early Friday trading, following a double rejection under the base of falling daily cloud.
Thursday’s bearish close and fresh extension lower warn that recent bulls, inspired by political news after Rishi Sunak…
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Euro eases on overbought condition but bias to remain bullish above parity
The Euro pulls back from new six-week high, as traders collected profits from a steep six-day rally, after the action was repeatedly capped by falling 100DMA and daily cloud top, while overbought daily studies contributed to the decision.…
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US economic growth gains speed in Q3, sidelines recession fears
US economic growth accelerated in the third quarter, cooling concerns that the economy was sliding into recession, following two straight quarterly contractions.
The US GDP rebounded by 2.6% in the third quarter, following a 0.6% drop in…
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ECB likely to raise interest rate by 75 basis points and start talks about winding down huge debt
The European Central Bank will likely raise interest rate by 0.75% in its policy meeting today, to remain on aggressive track in tightening monetary policy to fight historically high inflation.
The ECB is going to double the deposit rate…
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German consumer sentiment rises slightly but optimism is so far very limited
German Gfk Institute consumer sentiment index rose to -41.9 into November from -42.8 in October and in line with expectations.
The data spark optimism that German consumer morale would slightly recover in November after holding at record…
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