© Reuters. The is trading just below a key level of 104 today as investors await the afternoon release of PMI data that could influence the currency’s strength. The anticipated reports are expected to reveal a slight downturn in both the Manufacturing and Services sectors, with forecasts predicting figures of 49.8 and 50.4, respectively. A
Sterling consolidated its gains above the 1.2500 mark against the US Dollar and stayed above the 200-day EMA in Thursday’s trading, amid quiet liquidity levels. GBPUSD hit its highest level since early September, amid shifting expectations regarding the BOE’s rate cut timeline. The latest survey revealed that UK private sector activity stabilised in November, surpassing
Share: US S&P Global Composite PMI held steady at 50.7 in November’s flash estimate. US Dollar Index stays in negative territory at around 103.50. The economic activity in the US private sector continued to expand at a modest pace in early November, with S&P Global Composite PMI holding steady at 50.7. The Manufacturing
Share: USD/CHF could register losses on the less likelihood of Fed interest rate hikes. Swiss Franc could lose ground as SNB reduced foreign currency reserves to a seven-year low. Improved US Treasury yields attempt to push the US Dollar into positive territory. USD/CHF moves sideways after two days of minor gains, bidding near
© Reuters. As US traders took a break for Thanksgiving today, the (DXY), a measure of the currency’s strength against a basket of other major currencies, dipped below the 104 mark. This movement suggests a potential weekly decline for the dollar. The quietness in the markets coincides with the annual holiday closure, which often leads
As European traders head home, the trading desks around the globe are being manned with skeleton staff until the Asian session begins. Looking ahead to Friday in the APEC session: New Zealand (NZD) at 4:45 PM ET Retail Sales q/q: Expected at -0.8% (Previous: -1.0%) Core Retail Sales q/q: Expected at -1.5% (Previous: -1.8%) Japan
GBP/USD Analysis and Charts Better than expected PMI data underpins Sterling’s recent rally. Cable (GBP/USD) prints a fresh 10-week high. For all market-moving economic data and events, see the DailyFX Calendar The latest UK S&P Global PMIs beat both last month’s prints and expectations earlier today, with the all-important services sector leading the way. Learn
Euro Analysis German manufacturing and services sectors register meagre surprise to the upside EUR/USD rises but pulls back to levels observed ahead of the release Few catalysts this week point to potentially lower volatility as markets speculate on 2024 rate cutting cycle The analysis in this article makes use of chart patterns and key support
Share: EUR/GBP holds positive ground around 0.8720 ahead of Eurozone, UK key data. ECB President Christine Lagarde said the discussion about rate cuts is premature. BoE Governor Andrew Bailey stated that the Middle East conflict could add to the risk that inflation could go back up. Traders will closely monitor the Eurozone and
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