Crude Oil advances higher after US PMI’s lead the way. Euopean PMI data shows a substantial decline in Services and Manufacturing activity in the region. The US Dollar Index strengthens on Monday, with European investors heading into the safe haven US dollar. Crude Oil makes a run for it and …
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Gold has reversed earlier gains following the release of higher-than-expected US PMI data, which showed strong activity levels in US Manufacturing and Services in June. This indicates that inflation and interest rates will remain higher for longer, causing gold to drop off a cliff to trade in the $2,330s on …
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The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …
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The Pound Sterling (GBP) has risen to 1.2660 in early New York session due to the UK’s improved economic outlook and increasing home prices. The GBP/USD pair is showing strength as recent economic indicators suggest the UK economy is on track to return to growth after falling into a technical …
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Strong US manufacturing activity and pricing pressures have caused the GBP/USD to decline, which may feed concerns of a sustained Fed policy. Due to holiday closures, the US economy is resilient while European markets are quiet. The GBP/USD exchange rate may be weighed down by upcoming UK PMI data releases, …
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Early on Tuesday, the EUR/USD pair moved above 1.0800 and tested the 1.0840 zone. A widespread sell-off of US dollars supports the Euro. Markets are awaiting EU PMIs and Fed meeting minutes.Tuesday saw the EUR/USD pair reach a two-week high just shy of 1.0840 as the dollar widely declined. However, …
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In general, European indices surged to begin the new business week. In a nod to last week’s bidding fervor, risk appetite is driving stocks higher. Investors suffering from FOMO are prioritizing stocks above data threats.Monday saw gains in all of the European equity indexes as traders piled into the market …
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The Canadian Dollar is easing back against the US Dollar as the 2024 trading year begins, with the Canadian S&P Global Manufacturing Purchasing Managers’ Index (PMI) falling to a 43-month low. The US Manufacturing PMI component also fell below expectations, keeping market risk appetite low and propping up the US …
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The dollar rose on Friday and was heading for a third straight month of gains after data showed strong growth in the United States, indicating enhanced prospects for interest rates to remain high for a longer period. But the yen remained around the 150 level to the dollar before the …
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The US Dollar witnessed heavy trading against its rival currencies on Thursday, and the DXY index reached monthly highs in the wake of the country’s unexpectedly strong GDP and durable goods data as well as the weekly initial jobless claims report.The USD was kept from rising higher by declining US …
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