Jeames
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Pound Sterling slumps as UK GDP, factory output unexpectedly contract in October
The Pound Sterling sells off sharply after data showed the UK monthly GDP surprisingly declined by 0.1% in October. UK Industrial and Manufacturing Production also contracted in October compared with the previous month. Investors expect the Fed to pause the policy-easing spell in January after cutti
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Mexican Peso nears the key 20.00 level against US Dollar ahead of claims, PPI
The Mexican peso trades practically flat against the US Dollar near the 20.00 level. Hopes of Fed interest-rate cuts next week are acting as a headwind for the US Dollar. Technically, the USD/MXN pair remains bearish, with upside attempts limited at 20.30. The Mexican Peso (MXN) trades practically f
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China’s Commerce Ministry: Open to communication with Trump administration's economic, trade team
Chinese Commerce Ministry said in a statement on Thursday that “China is open to contact and communication with the Trump administration's economic and trade team.” Commenting on Australian lobster imports, the Ministry said that “China and Australia are still in technical talks.” Market reaction AU
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British pound rises as UK Construction PMI jumps
The British pound has extended its gains for a third straight trading day. In the North American session, GBP/USD is trading at 1.2757, up 0.45% on the day. British UK Construction PMI accelerates in November The UK Construction sector rose to 55.2 in November, up from 54.3 in October and above the
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Russia's largest oil producer criticizes OPEC+ cut policy – Commerzbank
The head of Russia's largest oil company says that the production cuts by OPEC+ in 2016 and 2020 have strengthened the US shale oil industry and enabled the US to become a leading oil exporter, Commerzbank’s commodity analyst Carsten Fritsch notes. OPEC+ cut policy strengthens US shale oil industry
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A pivotal Payrolls report could trigger major market reaction
The markets are gearing up for the November US labour market later this afternoon. Analysts expect a 220k increase in non-farm payrolls for November, up from 12k in October. The unemployment rate is expected to remain steady at 4.1%, and average hourly earnings are expected to moderate a notch to 3.
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AUD/USD: Risk for AUD shifts to the downside – UOB Group
The current price movements are likely part of a consolidation phase, mostly likely between 0.6435 and 0.6475. In the longer run, risk for AUD has shifted to the downside; the 0.6380 level is expected to provide significant support, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. The 0.
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CAD: Traders mark time ahead of BoC decision – Scotiabank
The Canadian Dollar (CAD) is little changed again on the session so far. PM Trudeau promises more spending to help lift economic growth in the fall economic update, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD little changed “Markets have been comfortable holding the CAD in a tight rang
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EUR/USD backslides into 1.05 as Euro bids remain elusive
EUR/USD lost ground again on Monday, skidding back into 1.05. Fiber failed to recapture the 1.0600 handle as near-term bounce fizzles. Plenty of ECB speeches dot the landscape, US NFP jobs numbers loom on Friday. EUR/USD kicked off another trading week with a decline back into familiar near-term low
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EUR/CAD Price Analysis: Bears rejected pair at 20-day and 200-day SMA convergence
EUR/CAD shed 0.30% on Thursday to trade near 1.4770. The cross faced rejection at the 20-day and 200-day SMA convergence at around 1.4800, completing a bearish crossover. The bearish crossover tends to be bearish sign, hinting at further weakness in the pair. The EUR/CAD fell by 0.30% on Thursday, r
Pull-up Update
