The NZDUSD is trading to new lows as traders react today to risk-off sentiment as stocks/commodities slide. Concerns about growth in the US and CHna iare weighing on the pair. Recall from last week, the NZDUSD peaked on Thursday after a surprise ANZ Business confidence number (50.6 vs 27.1 estimate). However, since then the price
Month: September 2024
The EURUSD rebounded on the back of the yield declines at the start of the US session, but has reversed to the downside after the pair tested the highs from yesterday and the 100 bar MA on the 4-hour chart at 1.10712. The US session high reached 1.1068 just 3 pips short of that MA
Ripple gears up for Ethereum-compatible smart contracts on the XRP Ledger, which should boost functionality. Ripple plans to use the Axelar network for cross-chain token transfers; wrapped XRP is the primary token on the sidechain. XRP crosses $0.57 early on Tuesday, holds steady above $0.56 at the time of writing. Ripple (XRP), a cross-border payment
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Fundamental Overview The USD has finally got some relief since last week after being battered for weeks. The focus is now on the key data this week with the ISM Manufacturing PMI today and the NFP report on Friday in the spotlight. The market is waiting for the key economic releases this week, and especially
· Kuady expands its digital wallet services to Argentina, offering secure and efficient digital payment solutions · Following successful launches in Peru and Chile, Kuady continues its Latin American expansion, with further regional and global growth planned Open Payment Technologies Ltd, a payments service processor, has today announced the expansion of its digital wallet services,
Following Canada’s decision to dramatically tax Canadian consumers of electric vehicles made in China, China has launched anti-dumping investigations into Canadian exports, UBS macro strategist Paul Donovan notes. US ISM poll of manufacturing sentiment is due “‘Dumping’ is the deliberate sale of exports at below market price. It is not a common occurrence, but it
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Worldcoin will see its supply grow by over $230 million in September. WLD’s price has shown an inverse correlation with its circulating supply. On-chain data shows that 95% of addresses are holding WLD at a loss. Worldcoin (WLD) is up 2% on Monday but risks a heavy decline in the coming weeks following unlocks worth
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Via UBS come some interesting points with the S&P 500 only around 1% from a record high. The note looks at the S&P 500 total returns (i.e. price gain plus dividends) from 1945, and points out the drawdown % risks from buying at random starting points: in 28% of cases an investor buying at a
Bitcoin rises 2% on Monday after losing more than 10% in the past week. CryptoQuant’s Bitcoin Coinbase Premium Index is falling, suggesting a decrease in investors’ interest and activity in Coinbase. US spot Bitcoin ETFs registered outflows last week, and a whale wallet deposited BTC worth more than $240 million in Binance. Historically, September hasn’t
PMI falls to 48.5, lowest since August 2022 New orders and production decline accelerates Cost inflation hits 21-month high, driven by raw material shortages and peso depreciation Job shedding continues for fourth straight month Employment decreased for the fourth month Export sales saw a substantial drop, particularly from US customers The Mexican manufacturing sector took
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Multi-asset Forex and CFD broker, FP Markets, further cemented its position as one of the industry’s global leaders, claiming two prestigious awards at the Finance Magnates Pacific Summit (fmps:24). The company won ‘Best Forex Spreads APAC’ and ‘Best Trading Experience APAC’ at the closing event of the two-day summit which was held on Thursday 29
Fundamental Overview Gold continues to trade in a tight range as the market awaits the key catalysts this week. As a reminder, the Fed is now very focused on the labour market as Fed Chair Powell said that they will not welcome any more weakness and will do everything they can to keep it strong.
The Japanese Yen declined despite positive economic data on Monday. Japan’s Manufacturing PMI posted a 49.8 reading for August, against the previous 49.5. The latest US Personal Consumption Expenditures Index data diminish the odds of an aggressive Fed rate cut in September. The Japanese Yen (JPY) loses ground against the US Dollar (USD) after the
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Manufacturing PMI 50.5 vs. 51.5 expected and 51.0 prior. Key findings: Increase in new work registered. Output and employment both decline. Confidence in the outlook sinks to lowest of year so far. Comment: Commenting on the PMI data, Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank, said: “The trends in Spain’s manufacturing sector keep showing
Gold price trades in negative territory around $2,500 in Monday’s early Asian session. The US Core PCE inflation remains unchanged at 2.6%, matching June’s increase, below the consensus of 2.7%. Any signs of a Chinese sluggish economy might weigh on the Gold price. Gold price (XAU/USD) softens near $2,500 on Monday during the early Asian trading
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Bitcoin traders took $4.251 billion in profits in August 2024, contributing to the selling pressure on BTC. Bitcoin whale transactions valued at $100,000 and higher hit their lowest point in nearly four years. BTC remains undervalued on the 7-day and 30-day timeframe. Bitcoin has historically yielded negative returns in September, BTC could extend losses if
UPCOMING EVENTS: Monday: US/Canada Holiday, China Caixin Manufacturing PMI, Swiss Manufacturing PMI. Tuesday: Swiss CPI, Swiss Q2 GDP, Canada Manufacturing PMI, US ISM Manufacturing PMI. Wednesday: Australia Q2 GDP, China Caixin Services PMI, Eurozone PPI, BoC Policy Decision, US Job Openings, Fed Beige Book. Thursday: Japan Average Cash Earnings, Swiss Unemployment Rate, Eurozone Retail Sales,
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