Analysis

Eurozone PMIs (Nov)

Eurozone PMIs (Nov)

The eurozone PMIs bounced back a bit in November but still signalled contraction. The composite employment index dipped below 50 for the first time since the pandemic. While there was a re-acceleration in both input and output price inflation, reflecting wage pressure in the service sector.
ACY Securities | 331日前
November Has Been a Bad Month for the USD

November Has Been a Bad Month for the USD

At the commencement of this week, the US dollar has displayed continued weakening, particularly evident in its depreciation against the yen overnight. This sets the dollar index on a trajectory to register its initial monthly decline since July, poised to be the most significant in percentage terms since November of the previous year when it sharply decreased by -5.0%.
ACY Securities | 331日前
Dollar Weakens as the Treasury Yield Slumps

Dollar Weakens as the Treasury Yield Slumps

U.S. long-term treasury yields have retraced to recent lows, adding sparking discussions about the possibility of the Federal Reserve cutting rates next year; this has added downside pressure on the U.S. dollar, with the dollar index reaching its lowest level since August
PU Prime | 331日前
Dollar pulls back ahead of PMIs

Dollar pulls back ahead of PMIs

Dollar pulls back on Thanksgiving as Fed cut bets weigh - Focus today turns to the preliminary S&P Global PMIs - Japan’s CPIs accelerate, corroborating a BoJ policy exit next year - Gold gains, oil loses more ground on OPEC delay
XM Group | 332日前
Is gold forming a double top pattern?

Is gold forming a double top pattern?

Gold gets rejected a tad below its recent 5-month peak - A failure to claim that level could validate a double top structure - While momentum indicators remain tilted to the upside
XM Group | 332日前
Daily Global Market Update

Daily Global Market Update

Oil dropped 1.55%, Aussie dollar steady, euro stable, dollar-yen sideways. Bank of England's digital pound proposal mixed, Tesla investing $2 billion in India, Zar Intelligence doubled revenue. Upcoming: US New Home Sales, Dallas Fed Index, Finland's Confidence, and CFTC Net Positions.
Moneta Markets | 332日前
VIX at Record Low, Sparks Equity Market

VIX at Record Low, Sparks Equity Market

The U.S. equity market is set to return to normal trading hours after the Thanksgiving holiday; meanwhile, with the VIX index reaching its lowest level since January 2020. This suggests a heightened risk-on sentiment, potentially supporting bullish trends in the equity market while putting continued pressure on the U.S. dollar.
PU Prime | 332日前
Aussie Jumps on Hawkish Bullock, Dollar Index Eases

Aussie Jumps on Hawkish Bullock, Dollar Index Eases

New York markets closed early in preparation for the long US Thanksgiving weekend. The Australian Dollar (AUD/USD) jumped to 0.6562 (0.6542) after RBA Governor Michelle Bullock mentioned that policy tightening was the appropriate response to demand driven inflation.
ACY Securities | 335日前
UK Data Wrap-up

UK Data Wrap-up

The UK PMIs recovered a little in November, which chimes with recent rises in payrolls and house prices. But some of the price indices showed a small rebound in inflation too. Meanwhile, net inward migration in the year to June was 672k, with 82% of arrivals accounted for by non-EU nationals.
ACY Securities | 335日前
USD Oil Price Volatility & European Political Risk in Focus

USD Oil Price Volatility & European Political Risk in Focus

In the wake of recent market developments, my attention has been drawn to the overnight weakening of the US dollar, a phenomenon that precipitated a decline in the dollar index, finding support just above 103.60 from the 200-day moving average. This retracement unfolded as the dollar faltered in its attempt to sustain the advance witnessed in the previous session.
ACY Securities | 335日前
Market Remains Muted While Celebrating Thanksgiving

Market Remains Muted While Celebrating Thanksgiving

Amidst the Thanksgiving holiday, with the U.S. equity market closed, market observers anticipate subdued trading in the Dollar Index (DXY) and gold prices throughout the festive season. Concurrently, the trajectory of oil prices remains uncertain, as the rescheduled OPEC+ meeting casts a shadow on decisions related to production cuts, introducing an element of ambiguity in the oil market.
PU Prime | 335日前