Share: NZD/USD loses momentum above the mid-0.6000s on Monday. Reserve Bank of New Zealand (RBNZ) is anticipated to hold the Offical Cash Rate (OCR) at 5.50% on Wednesday. US S&P Global Manufacturing PMI dropped to 49.4 vs. 50.0 prior, below the market consensus. RBNZ interest rate decision and US Gross Domestic Product (GDP)
ICYMI – Liu Chong, chairman of Shanghai and Hong Kong listed Cosco Shipping Development Co. Ltd., has been detained by authorities for investigation. Chinese media had the report over the weekend. Details are sparse: COSCO Shipping Development, the finance and leasing arm of the world’s largest shipowner, COSCO, said in a filing earlier this week
Share: Gold price gains ground for the third session on subdued US Dollar. Yellow metal may receive support on the positive sentiment as PBoC boosts financial support for private firms. Fed officials favor further tightening and emphasize that decisions will be contingent on incoming data. Gold price trims some of its intraday gains
China’s health Ministry says that the @page { size: 21cm 29.7cm; margin: 2cm } p { line-height: 115%; margin-bottom: 0.25cm; background: transparent } surge in respiratory illnesses across China that has drawn the attention of the World Health Organization is caused by the flu and other known pathogens and not by a novel virus. Related
Share: USD/JPY keeps the range-bound theme unchanged around 149.50 in early Monday. The less hawkish stance from the Federal Reserve (Fed) weighs on the Greenback. Japan’s National Consumer Price Index (CPI) for October rose by 3.3% YoY vs. 3.0% prior. The USD/JPY pair maintains the multi-session range-bound theme unchanged around the mid-149.00s during
In the world of financial markets, trading indicators play a crucial role in helping traders make informed decisions. One such indicator that has gained significant attention in recent years is the Bheurekso Pattern MT5 Indicator. In this article, we will delve into the details of this powerful trading tool, exploring its features, benefits, and how
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate
Share: Gold price hovers around the $2,000 psychological mark on the USD weakness. The private sector in the US continued to grow at a slower pace in early November. US Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) inflation figures will be in the spotlight this week. Gold price (XAU/USD) holds above
Bank of America’s chief strategist, Michael Hartnett, has been busy since Friday, when he wrote in a note to clients that investors piled US$40 billion into equities over the past two weeks, which has helped the S&P500 to its best monthly performance, so far, since July 2022. He noted, though that signs of caution have
Share: In November, stocks and bonds have rallied and the US Dollar has weakened. Economists at Nordea expect markets to move back to reality. The current rally in bonds and stocks is unlikely to continue The rally in both bonds and stocks looks unsustainable. The next environment is likely to be one of