Share: The DXY Index is seen with losses around 103.15, after reaching a high of 103.70, above the 200-day SMA. Fed Chair Powell warned that the bank will hike again if needed, keeping its data-dependency approach. The US ISM Manufacturing … [Continue reading]
Gold Price Forecast: XAU/USD surges to a seven-month high, amid Powell’s remarks
Share: Gold price rallied to a new multi-month high of $2060.62 amid Powell’s speech. Federal Reserve Chair Jerome Powell's remarks on soft inflation data and high core inflation boost Gold's appeal as a hedge. US interest rate expectations now … [Continue reading]
EUR/USD: Corrective losses to the 1.09 area risk extending a little further in the short run – Scotiabank
Share: EUR/USD pivots around 1.09. Economists at Scotiabank analyze the pair’s outlook. Euro consolidates recent gains Final Eurozone Manufacturing PMI data was revised up slightly to 44.2, from the preliminary November reading of 43.8. German and … [Continue reading]
Austria Gross Domestic Product (QoQ) above expectations (-0.6%) in 3Q: Actual (-0.5%)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
USD/INR loses ground on stronger Indian GDP, focus on US PMI, Fed’s Powell speech
Share: Indian Rupee gains momentum on the upbeat Indian growth number. India’s GDP expanded by 7.6% for the Q2 of this fiscal year, making it the fastest-growing major economy. Investors will closely watch the US ISM Manufacturing PMI and Fed Chair … [Continue reading]
Judo Bank Australia Manufacturing PMI declines to 47.7 in November
Share: Australia's manufacturing sector continues to contract head into the year-end. Australian Manufacturing PMIs slid to 47.7 in November, a ninth-straight monthly contraction. Australian Manufacturing Purchasing Managers' Index data for … [Continue reading]
US Dollar gains ground on the back of US PCE inflation figures, rising US yields
Share: The DXY Index marks a positive stride, trading with gains of 0.60% near the 103.50 area. US PCE figures decelerated but showed no surprise, which gives reasons for the Fed to remain cautious. Investors will eye November's ISM Manufacturing … [Continue reading]
Singapore: Industrial Production surprised to the upside in October – UOB
Share: Senior Economist at UOB Group Alvin Liew and Associate Economist Jester Koh review the latest Industrial Production results in Singapore. Key Takeaways Singapore’s Oct industrial production (IP) expanded for the first time following 12 … [Continue reading]
South Africa Producer Price Index (MoM) came in at 1% below forecasts (1.1%) in October
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
Gold price holds steady below multi-month peak as traders await US PCE Price Index
Share: Gold price struggles to gain any meaningful traction ahead of the US PCE Price Index. Fed rate cut bets, sliding US bond yields and a bearish USD continue to lend support. Concerns about the worsening economic conditions in China further act … [Continue reading]