Manufacturing and service are both expected to improve over January. manufacturing is expected to move into expansion. Looking at recent history: Manufacturing PMI: July 2024: The manufacturing PMI stood at 49.4, a slight decrease of 0.1 from June, indicating a marginal contraction in manufacturing activity. August 2024: The index declined further to 49.1, suggesting a
Due on Friday at 0830 US Eastern time (0130 GMT), the Core PCE data is the focus. The Personal Consumption Expenditures (PCE) data is a key measure of inflation that tracks changes in the prices of goods and services purchased by consumers. It is reported monthly by the Bureau of Economic Analysis (BEA) and is
Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his voice to a procession of Fedspeakers on Thursday, highlighting that inflation progress has “slowed”. Policymakers from the Fed are scrambling to pre-soften markets in advance of this week’s upcoming Personal Consumption Expenditures Price Index (PCEPI) inflation print, which is most likely headed for an
The major indices close lower in trading here today with the NASDAQ index getting hammered and having its worst trading day since January 27 (DeepSeek day). The NASDAQ index is now down -3.97% on the year. A snapshot of the closing levels shows: Dow industrial average -193.62 points or -0.45% at 43239.50. S&P index -94.49
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
The AUDUSD is down nearly 0.9% today, marking its largest decline of 2025 and the steepest drop since December 18, 2024. The initial move lower stalled at the 38.2% retracement of February’s trading range (0.6285), where buyers attempted to provide support. However, after a brief bounce, selling pressure intensified following President Trump’s confirmation that 25%
Not long ago, the media seemed to be in tune, running stories about how Elon Musk’s Tesla was one of the biggest beneficiaries of Donald Trump’s victory in the U.S. presidential election. Initially, this sentiment appeared to be true: Tesla stock rose a staggering 90% between November 5 and mid-December, despite the lack of compelling
US’ GDP grew at an annual rate of 2.3% in the fourth quarter of 2024. The US Dollar Index stays in positive territory above 106.50. The US Bureau of Economic Analysis (BEA) reported on Thursday that the United States’ Gross Domestic Product (GDP) expanded at an annual rate of 2.3% in the fourth quarter. This
Headlines: Markets: USD and CAD lead, JPY lags on the day European equities lower; S&P 500 futures up 0.6% US 10-year yields up 5.5 bps to 4.303% Gold down 1.0% to $2,887.82 WTI crude up 1.1% to $69.35 Bitcoin up 2.3% to $86,465 We’re still in that month-end trading phase and it’s tough to scrutinise
PU Prime has been recognized Best Multi-Asset Broker – MEA 2025 at a ceremony held at the Dubai World Trade Centre. The award was presented at the close of the first day of iFX EXPO Dubai 2025, one of the leading events in the financial services industry. Organized by Ultimate Fintech, the awards recognize companies
Fundamental Overview The USD continues to be supported against most major currencies, especially the commodity currencies, as the markets remain in a risk-off mood following some bad US data releases. In fact, since last Friday, we got weak US Flash Services PMI, UMich final Consumer Sentiment and this a weak US Consumer Confidence report on
XRP has witnessed heavy losses since the beginning of the week, dropping nearly 15% as the crypto market stretches its losses. Ripple community members continue to expect an end to the SEC’s multi-year lawsuit as the agency closes another investigation. XRP could hold the support near $2.18, aiming for a bounce to tackle a descending
The US dollar is firm pretty across the major FX board, with the uncertainty over tariffs widely cited as keeping riskier trades out of the spotlight. Cable is no exception, trading heavily during Asia time A report earlier isn’t helping. The Confederation of British Industry’s quarterly survey of services firms showed that profitability among business
AUD/JPY posts a second consecutive decline, hovering near its lowest levels since mid-September. RSI trends lower, approaching oversold territory, reinforcing bearish sentiment. MACD histogram prints rising red bars, signaling accelerating downward momentum. The AUD/JPY pair extended its losses on Wednesday, marking a two-day losing streak as sellers maintained their grip on the market. The cross
The AUDUSD is down for the third time in four trading days after peaking near the falling 100-day moving average at 0.6407. Today’s decline has been volatile, with initial support holding near a key swing area between 0.6287 and 0.6301. However, after an attempted rebound, sellers quickly regained control. The bounce saw the pair rise
AI image President Biden gave Venezuela something of an olive branch in an effort to get free elections but it hasn’t gone to plan and now Trump says he’s ending it. He also cited that Venezuela isn’t taking back illegal immigrants. The deal had eased sanctions on oil, gas and gold but a portion of
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The USDCHF broke to new 2025 lows yesterday with momentum. In the post yesterday (see post here and the chart from that post below), I targeted the swing area at 0.8914 to 0.8923 and warned that the area “should give buyers a cause to pause” the move lower. USDCHF The chart below shows that buyers
The US Dollar recovers on Wednesday, traders mulling upcoming President Trum speech. Markets see rate cut bets by the Fed increase with Tump’s tariffs set to kick in at the start of March. The US Dollar Index (DXY) resides near yearly lows, looking for a bounce. The US Dollar Index (DXY), which tracks the performance
The Kremlin said that “contacts are being prepared at the expert level through the ministries of foreign affairs”. Adding that a Trump-Putin meeting is still on the cards but only after thorough preparations have been made. No further details were given as to where or when that might happen. Meanwhile, Ukraine president Zelenskyy is to
Fundamental Overview Gold dropped yesterday following the weak US consumer confidence report. The main culprit for the weakness in gold was the selloff in the US stock market as it tightens financial conditions when it’s aggressive. The problem here is that we got weaker economic data with increasing inflation expectations. The market might be fearing
EUR/USD slips as the DXY climbs toward 106.50, driven by rising US yields. The US Dollar faced headwinds due to weakening US consumer confidence. The Euro found support from growing optimism following reports that Germany considers a €200 billion emergency defense fund. EUR/USD retraces its recent gains registered in the previous session, trading around 1.0500
This is via eFX: Synopsis: Nomura’s time-zone analysis suggests that USD/JPY has been trading more resiliently during Asian sessions, likely due to onshore FX demand from Japanese importers and retail investors. This could provide dip-buying support for the pair, even as BoJ rate hike expectations limit the upside. Key Points: USD/JPY Strength During 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
The NZDUSD has seen the price move lower in trading today as risk-off sentiment led to declines. Having said that, the fall was not without it’s ups and downs intraday. Nevertheless, technically speaking, the first corrective high in the Asia-Pacific session stalled against the 100-hour moving average (blue line on the chart below). The rest
Mexican Peso steadies as market sentiment remains bearish on trade risks. Trump confirms tariffs on Mexico are moving forward, pressuring the Peso. Banxico signals further 50 bps rate cuts as inflation nears the 3% target. US-Mexico trade talks continue, with a potential breakthrough expected Friday. The Mexican Peso (MXN) recovers from earlier losses and turns
Zelensky’s government is ready to sign the US minerals deal after the US dropped demands for a right to $500 billion in potential revenue, according to the FT. The report has helped to lift the euro and boost broader sentiment. he finalized agreement, reviewed by the FT, outlines the creation of a fund to which
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The AUDUSD is dipping below the swing area target between 0.6327 0.6336. That area was an initial support going back to December which then tilted to resistance. That resistance level held until breaking above on February 14. Since then, the price has bottomed twice in the last week’s trading and and try to hold support
An outlier day for Gold this Tuesday with losses on the quote board. The Trump administration seeks to corner China and toughens its semiconductor restrictions. Gold heads back to $2,935, though remains to look heavy with an overall market rout. Gold’s price (XAU/USD) has hit a new all-time high on Monday at $2,956, just hours before the Trump administration