FX

US S&P Global Composite PMI rose to 55.3 in November’s flash estimate from 54.1 in October, showing that the business activity in the US’ private sector continued to expand at an accelerating pace.  S&P Global Manufacturing PMI improved to 48.8 from 48.5, highlighting an ongoing contraction, while the Services PMI rose to 57 from 55. Assessing the survey’s

The Australian Dollar remains solid as the PMI indicates a mixed economic picture. Judo Bank Australian manufacturing activity improved in November but remained in contraction, while services activity slipped into negative territory. The US Dollar Index reached its fresh yearly high of 107.15 after the US Initial Jobless Claims released on Thursday. The Australian Dollar

EUR/CHF declines to new lows after breaking out of a Triangle pattern.  It is likely to continue lower according to technical analysis theory.  EUR/CHF falls lower after breaking out of a Triangle pattern. It will probably continue to decline until it reaches the next downside target, which has been revised up to 0.9145 – 0.9150.

The Japanese Yen strengthens against the USD, though it lacks bullish conviction amid BoJ uncertainty. The upbeat market mood and elevated US bond yield might contribute to capping the lower-yielding JPY. Traders look at Thursday’s US macro data and the Fed speaks ahead of Japan’s National CPI on Friday. The Japanese Yen (JPY) edges higher

How much further can the bounce in Gold prices run? Any way you slice it, this is not the same set-up for flows as a few short months ago, TDS’ Senior Commodity Strategist Daniel Ghali notes. Gold price may continue its downward movement “Pent-up selling activity unleashed by the US elections, resulting in a massive shift from

The Australian Dollar appreciated as the RBA Meeting Minutes emphasized the importance of maintaining a restrictive monetary policy. The PBoC’s Monetary Policy Committee (MPC) decided to maintain the current interest rate at 3.1% for November. The US Dollar steadies as investors anticipate pro-inflationary policies from the incoming Trump administration. The Australian Dollar (AUD) attempts to

USD/JPY falls to a six-day low, breaking through key support levels amidst heightened risk aversion. Technical indicators suggest potential further declines, with next targets set at Kijun-sen and 200-day SMA at 151.88. Immediate resistance for USD/JPY is located at the 154.00 level, with significant upper resistance at the recent peak of 156.75. The Japanese Yen

USD/CAD gains ground to around 1.4020 in Tuesday’s Asian session. The rising geopolitical risks support the USD.  The Canadian CPI inflation report will be in the spotlight on Tuesday.  The USD/CAD pair trades in positive territory near 1.4020 on Tuesday during the Asian trading hours. The resurgence of geopolitical tensions in the Middle East and in

EUR/GBP crosses key 0.8350 threshold but faces resistance near 0.8400, with current trading influenced by UK GDP concerns. Potential upside could see the cross target the 100-day SMA at 0.8413, with further resistance at the 200-day SMA at 0.8475. Downside risks remain if the pair retreats, with support levels at recent lows of 0.8306 and

The Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday that the Japanese economy is recovering moderately despite weak signs. Key quotes Japan’s economy recovering moderately despite weak signs. Will increase interest rates upon realization of strong economic outlook. To increasingly raise policy rate to adjust monetary support in line with economic and price forecasts.

Silver struggles to maintain momentum, hovering near the 100-day SMA at $30.34 with a downward bias. Potential further decline could see silver test key supports at $30.00 and the 200-day SMA at $28.63. A rebound above $31.00 could challenge higher resistances, targeting the 50-day SMA at $31.51 and beyond. Silver’s price fell over 0.70% beneath

NZD/USD pair traded volatile during Friday’s session, clearing all of its daily gains. Pair initially soared to a high around 0.5970 near the 20-day SMA before erasing all the gains towards 0.5850. The RSI signaled that buying pressure recovered as it neared the oversold area with a rise in slope. The NZD/USD saw a volatile

GBP/USD Price Forecast: Stumbles on soft UK data, bears target 1.2600 The Pound Sterling extends its agony and printing losses for the sixth straight day against the Greenback. Soft UK GDP coupled with robust US Retail Sales figures boosted the US Dollar and weighed on GBP/USD, which trades at 1.2636, down 0.22%. Read More… GBP/USD resumes downside bias after release

The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against

The European gas market is in turmoil: after an arbitration court awarded an Austrian energy company a large sum in compensation in a dispute with its Russian supplier, the former wants to offset the claim immediately, Commerzbank’s commodity analyst Barbara Lambrecht notes. There is no longer any dependence on the Russian gas supplier “According to

USD/JPY trades in positive territory for the fifth straight day near 156.60 in Friday’s early Asian session.  Japan’s GDP rose 0.2% QoQ in Q3, as expected. Fed’s Powell said strong US economic growth will allow the Fed to take its time on rate cuts.  The USD/JPY pair extends the rally to around 156.60, the highest

The Mexican Peso is resuming its downtrend after Republicans have won a majority in Congress.  This will augment their power to push through radical fiscal and immigration policies that could be detrimental to the Peso.  USD/MXN closes in on the November high after rebounding from the base of a rising channel.  The Mexican Peso (MXN)

The Australian Unemployment Rate is foreseen stable at 4.1% in October. Employment Change is expected at 25K, much lower than the 51.6K posted in September.  AUD/USD is under pressure and may soon pierce the 0.6500 mark.  The Australian Bureau of Statistics (ABS) will release the October monthly employment report at 00:30 GMT on Thursday. The