This is a useful read from Reuters on the difficulties China is facing, pushing on a string. China is awash with money and its growth is slowing. To avert a prolonged stagnation, President Xi Jinping’s administration may need to spend its way out of the problem. Yet this and other classic remedies to such a
Month: July 2024
The Atlanta Fed GDPNow growth estimate for 2Q comes in at 2.6% versus 2.7% previously. This will be the last model report for the 2Q. smart 8:30 AM, the advanced GDP will be released. The survey of economists estimates a lower value at 2.0%. In their own words: The GDPNow model estimate for real GDP
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The world seems to be moving further and further away from the idea of ‘make love, not war.’ Conflicts continue to erupt everywhere, with no end in sight. Recently, the US Department of Defence has updated its Arctic strategy, as the Arctic is becoming a strategic area of competition between the world’s major powers. Experts
There are a couple to take note of, as highlighted in bold. However, they may not feature too much into play given the state of play in major currencies this week. The first one being for USD/JPY at the 155.00 mark but the pair is feeling rather heavy already in the handover from Asia to
0645 GMT / 0245 US Eastern time: Chairing of Session 5 by ECB board member Luis de Guindos at joint conference of the European Central Bank, International Monetary Fund, and IMF Economic Review “Global Challenges and Channels for Fiscal and Monetary Policy” in Frankfurt, Germany 1200 GMT/0800 US Eastern time: Participation by ECB board member
Trump supports crypto, attracting votes from the sector Bitcoin (BTC) is on the cusp of significant price movements due to two major catalysts: the launch of new Ethereum ETFs and the evolving political landscape with Donald Trump’s increased engagement in the crypto space. Ethereum ETF Approval, Trump’s Crypto Endorsement, and Bitcoin’s Bullish Outlook Recently, the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Services PMI 52.4 vs. 52.5 expected and 52.1 prior. Manufacturing PMI 51.8 vs. 51.1 expected and 50.9 prior. Composite PMI 52.7 vs. 52.6 expected and 52.3 prior. Key Findings: Flash UK PMI Composite Output Index(1) at 52.7 (Jun: 52.3). 2-month high. Flash UK Services PMI Business Activity Index(2) at 52.4 (Jun: 52.1). 2-month high. Flash
The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate
Earlier this month, I did a series of posts, following the trend of the GBPJPY on a trend move higher. The move to the upside was helped by dips finding support against the 100-hour MA. That continued until it didn’t and the technical story changed. Here is the succession of posts. https://www.forexlive.com/technical-analysis/the-gbpjpy-is-trading-at-highest-level-since-2008-and-bounced-off-support-todaywhat-next-20240705/ https://www.forexlive.com/technical-analysis/has-the-song-remained-the-same-for-the-technicals-driving-the-gbpjpy-trend-move-higher-20240708/ https://www.forexlive.com/technical-analysis/gbpjpy-still-remains-above-the-100-hour-ma-20240709/ https://www.forexlive.com/technical-analysis/gbpjpy-continues-its-run-to-the-upside-hints-of-a-top-yesterdayfails-20240710/
USD/JPY is up from its late US/early Asia lows under 155.60. We haven’t seen news headlines out of Japan apart from the data: Japan flash PMIs (July): Manufacturing 49.2 (prior 50.0) Services 53.9 (prior 49.4) This data is not usually much of a yen mover, and today is no different. The bounce back happened well
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Yesterday the People’s Bank of China lowered the collateral requirement for medium-term loans: ForexLive Asia-Pacific FX news wrap: A series of easings from the People’s Bank of China The People’s Bank of China (PBOC) said it would lower the collateral requirement for the medium-term lending facility (MLF) loan to increase the size of tradable bonds
Crude oil continues its run to the downside. The price is now down for the 4th consecutive days. Since reaching a high price of $83.10 on Wednesday of last week, the price has moved down nearly 8%. Technically, the price fell below its 200-day moving average on Friday. Today the high corrective price reached $78.73.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Ufunded.com has opened its futuristic headquarters in the heart of Dubai, spanning across a third of an entire floor in the prestigious Opus Tower, designed by the legendary Zaha Hadid. The new headquarters reflect Hadid’s futuristic vision and align seamlessly with Ufunded.com’s disruptive ethos. Overlooking the expansive Dubai skyline in 360°, including iconic landmarks such
Diving into the world of financial markets, investors are often faced with the choice between Forex and Futures trading. Both avenues offer unique opportunities and come with their own sets of risks and rewards. Understanding the key differences between these two types of trading can help investors make more informed decisions. But which trading option
There aren’t any major expiries to take note of for the day. As such, trading sentiment might be more muted in the European session as we await US markets to open again later. In that lieu, even then equities and the broader risk mood might be more cautious today considering that we have Alphabet and
Will look particularly closely at wage developments Current level of uncertainty is huge, so have to be prudent when taking decisions The comments don’t add anything to the prevailing outlook. They’ve already said before July that they will defer their next “live” decision to September, so this just continues that. This article was written by
Fundamental Overview The USD regained some strength in latter part of last week. From the monetary policy perspective, nothing has changed as the market continues to expect at least two rate cuts by the end of the year and sees some chances of a back-to-back cut in November. The data continues to suggest that the
Amid a lack of events on the economic calendar, the Japanese yen has been a decent mover to start the week thus far. After the gains yesterday, we are seeing a further advance today with USD/JPY now down 0.6% to near 156.00 on the day. AUD/JPY in particular is suffering the most, down another 1%
The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate
The broader US indices are trading to new at session highs. For the S&P index it just reached a new high of 5569.19. That is just 2-3 points short of the 100-hour moving average at 5571.79.. Getting and staying above that moving average would tilt the technical bias more to the upside. Meanwhile, the Nasdaq
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