Cable surges on disappointing US ADP data
Cable hit fresh five-week high on Wednesday after being initially boosted by better than expected UK Nov services PMI, while unexpected and strong drop in US private payrolls (ADP report) added to expectations of Fed December rate cut…
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US private payrolls fall sharply in November – ADP
The ADP employment report showed that US private payrolls unexpectedly fell by 32K in November, compared to upwardly revised 47K (from 42K) previous month and consensus for 5K rise.
The latest report added to growing concerns about labor…
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Euro zone services sector activity expanded further in November – PMI
Eurozone Composite Purchasing Managers' Index (PMI), which tracks performance of both, manufacturing and services sector, and indicates overall economic health, rose to 52.8 in November from 52.5 in October, marking its sixth monthly…
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EURUSD remains constructive but thick falling daily cloud weighs
The Euro keeps firm tone on Tuesday after near-term recovery spiked to two-week high (1.1652) but subsequent quick pullback pointed to strong upside rejection (daily candle with long upper shadow).
Recovery stalled just under the base of…
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Dollar continues to travel south on growing rate cut bets / weak economic data
The dollar index came under increased pressure on Monday and fell to two-week low, following renewed rise in bets for Fed rate cut in the last policy meeting this year, as markets await releases of key economic indicators from the US labor…
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Gold hits new multi-week high on Fed rate cut expectations / weaker dollar
Gold continues to trend higher and hit the highest in six weeks on Monday, supported by growing expectations for Fed rate cut in December.
Weak US economic data and recent dovish comments from Fed policymakers fuelled fresh rise in bets…
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BTCUSD – bears regain control after limited correction
BTCUSD fell sharply in early trading on Monday (around 6% until the mid-European session) retracing over 50% of 80514/93052 upleg and signaling that corrective phase from 8-month low (80514) might be over.
Larger bears regained control…
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Silver rises further after Friday’s strong rally and hits new record high
Silver moves deeper into uncharted territory and hit new record high ($57.84) in early Monday trading, in extension of Friday’s strong acceleration higher (up 5.6%, the biggest daily gain in nearly 8 months) which broke and close above…
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AUDNZD accelerates lower after RBNZ’s hawkish cut
The pair fell one full figure and hit the lowest in almost one month after the Reserve Bank of New Zealand cut rates by 25 basis points, as expected, but signaled pause that lifted kiwi dollar.
Fresh weakness extended below Nov 18 higher…
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Gold keeps firm tone after 1.6% advance on fresh dovish signals from Fed
Gold keeps firm tone and consolidates under new 1 ½- week high on Tuesday, following Monday’s 1.6% advance.
The latest dovish comment from Fed policymakers revived hopes of Fed rate cut in December that brightened the sentiment and…
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