WTI TURNS POSITIVE, HOVERING AROUND $85.00 A BARREL AS THE US DOLLAR TUMBLES
Western Texas Intermediate (WTI) ended the week with a loss of 0.55%. Chinese demand and a soft US dollar supported oil prices. , WTI buyers that fail to break above…
EURUSD: THE EURO RECLAIMED 0.9800 AS FEDERAL RESERVE’S OFFICIALS WOULD TUNE SUBSEQUENT RATE HIKES
The Federal Reserve is laying the groundwork to reduce the scope of US dollar futures. The drop in US bond interest rates weakened the dollar and increased the euro. EURUSD…
For abrdn, China has strong recovery potential and equities are trading at a discount
Nicholas Yeo, Abrdn’s head of Asia equities, notes that some headwinds are easing and says he is bullish on Chinese stocks, which have underperformed other markets for some time. Find…
European Stocks Close Notably Lower On Rate Hikes Jitters
(RTTNews) – European stock markets closed lower on Friday after US Labor Department data showing a stronger-than-expected increase in US non-farm payrolls in September raised concerns that the Fed will…
USD/CAD Forecast: Continues to Rally
Short-term pullbacks offer the possibility of finding value in the greenback, now I think that it’s likely that we have a “buy on the dip” mantra going forward. The USD/CAD has rallied…
S&P Global US services PMI 49.2 vs 45.0 expected
Prior was 43.7 Manufacturing 51.8 vs 51.1 expected Prior manufacturing 51.5 Composite 49.3 vs 44.6 prior Is this a situation where good news is bad news? The Fed wants to see…
Evotec: Construction work started on biologics plant in Toulouse
The biotech company Evotec is further expanding its biologics activities: At the French site in Toulouse, construction work on a large J.POD biologics plant has now officially started. This will be…
USDCHF higher in choppy trade, but stalls against 200 hour MA
The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing…
GBP/USD Technical Analysis: Have the Sales Ended?
In the near term and according to the performance on the hourly chart, it seems that the GBP/USD currency pair is trading within the formation of a weak ascending channel. …
Germany Ifo business survey on the agenda in the session ahead
It’s tough to read into the market moves at the moment as traders and investors are all lacking any firm conviction before we get to Fed chair Powell’s speech at…