Daily Pivots: (S1) 1.0789; (P) 1.0800; (R1) 1.0819;
Intraday bias in EUR/USD remains on the downside at this point. Current down trend should target 200% projection of 1.1172 to 1.0992 from 1.1095 at 1.0735 next. On the upside, above 1.0861 minor resistance will turn intraday bias neutral and bring
Mainland China markets reopened today for the first time since 23 January and we are seeing the Caixin/Markit Jan manufacturing PMI vs the previous 51.5.
Caixin/Markit Jan manufacturing PMI
China Caixin/IHS markit January manufacturing PMI at 51.1 (vs 51.5 in December).
Caxin Jan factory
EUR/GBP edged higher to 0.9595 last week but quickly retreated. Initial bias remains neutral this week first. Further rise is mildly in favor as long as 0.8479 minor support holds. Above 0.8595 will extend the rebound from 0.8276 to 38.2% retracement of 0.9324 to 0.8276 at 0.8676. However, firm brea
Market movers today
Beyond Chinese data out overnight, the global calendar is light today. In the US, we get industrial production data for December, which will be interesting given the weakness in the ISM manufacturing, while regional indices and Markit PMIs paint a less gloomy picture.
We also get
Despite the increased call for a rate cut by the Bank of England (BOE) policymakers recently, a Reuters poll of analysts showed that the British central bank is likely to steer rates on a steady course on January, 30th - the eve of the UK’s departure from the European Union (EU).
The US-China trade deal phase one was finally signed but market reactions were muted. US stock indices hit record highs but gains were limited. On the other hand, there were notable fund flows into bonds and Swiss Franc over political uncertainties in Russia. In the currency markets, over the week,
AUD/USD stays positive above 200-day SMA, 38.2% Fibonacci retracement.
Bearish candlestick formation, MACD doubts the recent strength.
0.7000 becomes the key resistance.
AUD/USD rises to 0.6920 during the early trading hours of Thursday. The Aussie pair flashed a bearish candlestick formation, Doji
Gold's Tuesday's candle indicates seller exhaustion, but lower highs setup still intact.
Short-term average studies have turned bearish and prices risk falling back to $1,540.
Gold is currently trading at $1,548 per Oz, having clocked a low of $1,536 on Tuesday.
The long wick attached to Tuesday'
The Japanese yen recovered from its early lows against its most major counterparts during early European deals on Tuesday.
The yen recovered to 109.96 against the greenback, 113.33 against the franc and 142.64 against the pound, from an early near an 8-month low of 110.21, more than 1-year low of 11
The world markets are moving upwards amid hopes for a trade truce between China and the US. An additional reason for optimism was the news that China was removed from the list of potential currency manipulators on the eve of the deal. There are also reports in the press about China's promise to buy
AUD/USD continues to report losses despite upbeat China data.
China's imports and exports rose sharply in December, beating expectations by a big margin.
AUD/USD is finding little love even though China's December trade data bettered estimates by a big margin, indicating the world's second-larges
Citing sources close to the US-China trade talks and analysts on Sunday, China’s Global Times reports some optimistic comments on the phase one trade deal signing scheduled later this week.
“Phase one ... will cover a wide range of areas from intellectual property rights (IPR) to enforce
Middle East fears faded further from the memories of investors overnight, with haven assets weakening yet again and equities resuming their relentless grind higher. US data passed without incident with Initial Jobless Claims easing by a slightly lower than expected 214.000. German data was mixed, th
Daily Pivots: (S1) 1.3072; (P) 1.3142; (R1) 1.3189;
Intraday bias in GBP/USD remains neutral as range trading continues inside 1.3053/3284. On the downside, below 1.3053 will target 1.2905 support. Sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1.2920 will target 61.8% retracement at 1.
Japan total labor cash earnings fell for the first time in three months in November, a report from the Ministry of Health, Labor and Welfare showed on Wednesday.
Total cash earnings fell 0.2 percent year-on-year in November, after remaining unchanged in October. Economists had expected a 0.1 percent