EUR/USD faces downward pressures below 1.1000 after a solid US PPI report

Share: EUR/USD experienced losses during Friday’s North American session, reaching 1.0975 from a daily high of 1.1000. US Department of Labor report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM. University of Michigan’s survey displayed a slight drop in

Newsquawk week ahead: US and UK retail sales along with the RBNZ announcement

MON: N/A TUE: PBoC MLF, RBA Minutes, Japanese Prelim. GDP (Q2), Australian Wage Price Index (Q2), Chinese Industrial Output and Retail Sales (Jul), Japanese Industrial Output (Jul), UK Jobs Report (Jun/Jul), German ZEW Survey (Aug), US Retail Sales (Jul), Canadian CPI (Jul) WED: RBNZ Announcement, FOMC Minutes, UK Inflation (Jul), EZ GDP and Employment 2nd

USD/CAD loses ground after hot PPI data from the US

Share: USD/CAD bulls got rejected at the 200-day SMA and retreated near the 1.3420 area, still poised for a weekly gain US PPI rose to 2.4% YoY in July, higher than expected. Higher Oil prices help the CAD trade strong against most of its rivals. At the end of the week, the USD/CAD

Baker Hughes week US oil rig count unchanged

525 oil rigs vs 525 previously Natural gas rigs 123 vs 128 prior Oil rigs have been steadily falling this year but US fields have kept up productivity by tapping DUCs. I don’t know how much longer that can last. Gas prices have struggled but there was talk we would be under $1 by now

FXMH PARAMETER SETTINGS 20 PST /GBP/USD – Trading Systems – 11 August 2023

If the initial deposit is $1000 on a HIGH RISK micro account use the parameter settings below: Currency pairs: GBP/USD Timeframe: M5 Leverage: 1:500 Swap free account (forex robot will hold floating loss for weeks or even months) Parameter settings for GBP/USD, M5 MINIM_DAILY_PROFIT = Minimum daily profit = 10000 BATAS_FREE_MARGIN = Free margin limit = 50 JAM_ON = The robot starts trading = 1 JAM_OFF = The robot

FX Weekly Recap: August 7 – 11, 2023

Forex market players zoned in on Chinese data and U.S. inflation figures this week as these tend to strongly affect monetary policy expectations and sentiment.  These reports signaled potential slowing inflation and growth conditions on net, spurring traders to balance narratives like calls for additional stimulus from China, a peak in the Fed rate hike

MUFG trade of the week: Sell EUR/USD

EUR/USD daily MUFG Research adds a new short EUR/USD position to its trade of the week portfolio targeting a move towards 1.0770, with a stop at 1.1160. “We have instigated a short EUR/USD trade idea to reflect the potential bias favouring yield and hence the dollar over the short-term,” MUFG notes. “So far in August,