Most of the European markets started trading in November on a positive note, as the acceleration of Chinese factory activities helped ease concerns about a second wave of the outbreak of Covid-19 that caused the re-imposition of closures in major economies. The German DAX index, which is based on trade, …
Read More »The Chinese Manufacturing Sector Shows Expansion For The Sixth Consecutive Month
A survey showed that factory activity in China expanded for the sixth consecutive month in October, as business confidence grew to its strongest levels in years. The Caixin / Markit PMI for Chinese manufacturing came in at 53.6 for the month of October, better than analysts’ expectations of 53.0 in …
Read More »Turkish Lira at Fresh Lows Against USD
The Turkish lira weakened against the US dollar to a new record low on Monday, November 2nd, as investors looked at the impact of geopolitical tensions and political interference on monetary policy. The lira was at 8.3840 against the dollar by 04:28 GMT, approaching the record low of 8.3850 it …
Read More »FX Option Expiries For Nov 2 NY cut
FX option expiries for Nov 2 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1750 574m1.1795 733m GBP/USD: GBP amounts 1.2960 239m1.3000 223m1.3100 1.2bn USD/JPY: USD amounts 104.50 440m USD/CAD: USD amounts 1.3300 662m NZD/USD: NZD amounts 0.6600 265m EUR/GBP: EUR amounts 0.8900 …
Read More »Oil is Down by More Than 3% on Concerns About Fuel Demand
Oil prices fell more than 3% Monday, November 2, due to fears that widening the scope of anti-Corona virus closures in Europe may weaken fuel demand, while dealers brace for unrest in conjunction with the US presidential elections this week. By 04:10 GMT, Brent crude futures for January delivery were …
Read More »GBP/JPY: Below Resistance
Negative trading dominated pound’s movement against the Japanese yen, after it encountered a strong resistance level around 135.80 and settled below it. Technically, looking at the 60-minute chart, we find that the 50-day moving average putting a pressure on the price, meeting around 135.80 / 135.60, and adding more strength. …
Read More »Canadian Dollar Struggling in Positive Direction
The positivity dominated the Canadian dollar’s movements after it managed in building a strong base at 1.3240. Technically, we find that the 50-day moving average is holding the price, with the RSI above its mid-line on short intervals. We think that there is a possibility to continue the upside, and …
Read More »British Pound Still in Negative Territory
The British pound is trading on the downside against the US dollar, hovering near the session low around 1.2900. Technically, looking at the 4-hour chart, we find that the stochastic is moving negatively with continued negative pressure from the simple moving averages. Therefore, with consolidation below 1.2960 and generally below …
Read More »Oil Continues to Post Losses
Oil, Crude, trading
Read More »Gold Trying to Re-Test Resistance
Negative trading dominated gold prices, as we expected, touching the target published in the previous analysis at 1860, to post a low at 1864. Technically, the current movements are witnessing a slight upward tendency, as a result of approaching the support level of 1860 in the attempts to re-test 1894. …
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