Forex signals news and analysis, fundamental stock market breakdown including geopolitical analysis and in depth discussion. Up to date live news feed from around the world, stock market specific.
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Friday, 31 December 2021
AUD Q1 2022 Fundamental Forecast: Central Banks Hold the Keys to Currency Direction
3 Types of Forex Analysis
Forex Vs Stocks: Top Differences & How to Trade Them
Gold Price Extends End of Year Rally While Safe Haven Bets Tumble
Gold Price Outlook: Fed Hiking Cycle Impact on Gold
Gold Q1 2022 Fundamental Forecast: Gold Fundamental Outlook Proves Mixed
Crude Oil Dips After Record-Breaking Year as US Dollar Sidelined. Where to for WTI in 2022?
AUD Q1 2022 Fundamental Forecast: Central Banks Hold the Keys to Currency Direction
Platinum Price Forecast: XPT/USD Rise in Short Bets Risks Triggering a Potential Squeeze
Gold Q1 2022 Fundamental Forecast: Gold Fundamental Outlook Proves Mixed
JPY Q1 2022 Fundamental Forecast: USD/JPY, Fed, Labor Market Eyed
JPY Q1 2022 Fundamental Forecast: USD/JPY, Fed, Labor Market Eyed
Thursday, 30 December 2021
Gold Price Outlook: XAU Surrenders to a Stronger Dollar, Stocks Rise
Trading the London Session: Guide for Forex Traders
The Basics of Technical Analysis
EUR/USD Technical Setup: Recent Euro Respite May be Short-lived
Forex Trading Journal: A How-To and other Forex Trading Tips
Bank of England Hiking Cycle: FTSE 100, FTSE 250, GBP/USD, GBP/EUR Analysis
Oil Q1 2022 Fundamental Forecast: Crude to Avoid Bear Market as Supply Constraints Persist
Oil Q1 2022 Fundamental Forecast: Crude to Avoid Bear Market as Supply Constraints Persist
Equities Q1 2022 Fundamental Forecast: Fed Policy is a Bigger Threat to Equities Than Omicron
The Australian Dollar Edges Up as US Dollar Struggles. Can AUD/USD Continue Higher?
Wednesday, 29 December 2021
USD/TRY, EUR/TRY Restart Climb After Intervention
How to Manage the Emotions of Trading
Gold Prices Look Up as Both Inflation and Safe Haven Allure Deepens
Gold Price Outlook: Fed Hiking Cycle Impact on Gold
Euro Q1 2022 Fundamental Forecast: Still No Rate Hike, Still No Euro Recovery
Euro Q1 2022 Fundamental Forecast: Still No Rate Hike, Still No Euro Recovery
Tuesday, 28 December 2021
Sentiment Indicators: Using IG Client Sentiment
Mexican Peso Outlook: USD/MXN Falls as Risk-Appetite Recovers. Will This Trend Last?
What is Leverage in Forex? Forex Leverage Explained
Gold Price Outlook: XAU/USD Reaches a Monthly High, US Equities Limits Gains
The New York Session: Forex Trading Tips
How to Trade Forex News: An Introduction
What Does a Forex Spread Tell Traders?
USD/ZAR Forecast: Festive Lull Fixes South African Rand Around 15.55
Tech Stocks Lead Wall Street to Record High, Gold Prices Up on Inflation Bets
USD Q1 2022 Fundamental Forecast: Dollar's Hawkish Path Is Not Necessarily a Bullish One
The Psychology of Speculation in the Forex Market
How to Be a Part Time Trader: Tips on Workflow and Strategy
Monday, 27 December 2021
How to Research Stocks: A Step by Step Guide
How to Manage Fear and Greed in Trading
Why Most Traders Fail and How to Increase Trading Success
Copper Trading: Copper Trading Tips and Strategies
Sunday, 26 December 2021
Bitcoin Q1 2022 Fundamental Forecast: Macro Will Matter (More) To Bitcoin
GBP Q1 2022 Fundamental Forecast: Additional Bank of England Rate Hikes are on The Way
GBP Q1 2022 Fundamental Forecast: Additional Bank of England Rate Hikes are on The Way
JPY Q1 2022 Fundamental Forecast: USD/JPY, Fed, Labor Market Eyed
JPY Q1 2022 Fundamental Forecast: USD/JPY, Fed, Labor Market Eyed
Trading Inflation Expectations
USD Q1 2022 Fundamental Forecast: Dollar's Hawkish Path Is Not Necessarily a Bullish One
Saturday, 25 December 2021
The Kelly Criterion
AUD Q1 2022 Fundamental Forecast: Central Banks Hold the Keys to Currency Direction
AUD Q1 2022 Fundamental Forecast: Central Banks Hold the Keys to Currency Direction
JPY Q1 2022 Technical Forecast: USD/JPY Chart Points Higher to Kick Off the Year
JPY Q1 2022 Technical Forecast: USD/JPY Chart Points Higher to Kick Off the Year
Gold Q1 2022 Fundamental Forecast: Gold Fundamental Outlook Proves Mixed
Equities Q1 2022 Fundamental Forecast: Fed Policy is a Bigger Threat to Equities Than Omicron
Friday, 24 December 2021
Euro Q1 2022 Fundamental Forecast: Still No Rate Hike, Still No Euro Recovery
Euro Q1 2022 Fundamental Forecast: Still No Rate Hike, Still No Euro Recovery
How to Control Greed When Trading
Moving Average (MA) Explained for Traders
Gold Price Outlook: Fed Hiking Cycle Impact on Gold
Bitcoin (BTC) Back at $51k, Large Cap Altcoins Lead the Rally
Using the COT Report in Forex Trading
Thursday, 23 December 2021
Bitcoin (BTC/USD) Prices Test Resistance, Risk Sentiment Bolsters Gains
US Core PCE Hits 4.7%, Beating Expectations, US Dollar (DXY) Moves Higher
Bank of England Hiking Cycle: FTSE 100, FTSE 250, GBP/USD, GBP/EUR Analysis
High Beta Currencies Benefit From Year-End Short Squeeze, Reflecting on GBP/JPY Top Trade
FTSE 100, British Pound (GBP) Nudge Higher on Positive News Flow
Forex Spreads Trading Strategies & Tips
Wednesday, 22 December 2021
Bank of England Hiking Cycle: FTSE 100, FTSE 250, GBP/USD, GBP/EUR Analysis
Introduction to Basic Trendline Analysis
US Dollar (USD) Unfazed by Higher Than Expected GDP Data
Fibonacci for a Multi-Market Trader’s Approach
How to Learn Technical Analysis with DailyFX
British Pound (GBP) – Mixed UK Q3 GDP Data, GBP/USD Nudges Higher
Canadian Dollar Looking Undervalued vs USD, Markets Chop as Volumes Dwindle
Stock Trader Sara Goldstein on Developing an Expertise
Tuesday, 21 December 2021
Nasdaq 100 the Frontrunner on Turnaround Tuesday. Is the Santa Claus Rally On?
Crude Oil Outlook:Will Omicron Continue to Hinder Oil Prices?
The Basics of Technical Analysis
As a New Retail Trader Age Rises, Heed Tales of Past Manias
Forex Trading Journal: A How-To and other Forex Trading Tips
Gold Price (XAU/USD) – Struggle Continues in Low Volatility Conditions
USD Long Far From Crowded, GBP Sentiment Deteriorates, NZD Flips to Net Short – COT Report
Monday, 20 December 2021
Gold (XAU/USD) Goes to War With the US Dollar as Risk Appetite Dwindles
Impact of Bank of England Rate Hikes on FTSE 100, FTSE 250, GBP/USD, GBP/EUR
Euro-Outlook-EURUSD-EURGBP-Key-Levels-Omnicron-Fears-Rise
Forex Trading: What is Forex? FX Trading Explained
European Equities Slump on Renewed Omicron Fears, Risk Assets Shunned
The Most Volatile Currency Pairs and How to Trade Them
Crude Oil Prices and Stocks Fall as Omicron, Central Banks Spook Markets. Will WTI Make a New Low?
NZD/USD Eyes Risk Trends and China Loan Prime Rate in APAC Trading
Sunday, 19 December 2021
3 Types of Forex Analysis
Trading Journal: What it is and How to Create One
7 Step Trading Checklist Before Entering Any Trade
Saturday, 18 December 2021
Dow Jones Limps into the Close as Equity Lull Continues
Friday, 17 December 2021
Currency Carry Trade: What is it and how does it work?
Will Inflation Push Gold to a New All-time High
DAX 40 Hit by Nasdaq 100 Slump, German IFO Warns of Growing Pessimism
4 Effective Trading Indicators Every Trader Should Know
British Pound Under Political Pressure, Election Shock Leaves the PM Vulnerable
What Type of Forex Trader Are You?
Gold Prices Gained as US Dollar and Treasury Yields Fell. Will XAU/USD Keep Rising?
How to Trade the Impact of Politics on Global Financial Markets
Nasdaq 100 Routed as Big-Tech Leads Markets Lower
Thursday, 16 December 2021
USD/CAD Susceptible to Larger Pullback on Failed Test of Yearly High
Central Bank Watch: BOE & ECB Interest Rate Expectations Update
Game Theories
British Pound (GBP) Price Outlook: Bank of England Decision Too Close to Call
Why Most Traders Fail and How to Increase Trading Success
Gold Prices Eye BoE, ECB After FOMC Sparks Hawkish Unwind
A Guide to Trading Psychology
Australian Dollar Remains Firm Versus US Dollar After Blowout Jobs Report
Oil Prices Holds Above 200-Day SMA Amid Sharp Drop in US Inventories
Wednesday, 15 December 2021
Gold Prices (XAU/USD) Stutter ahead of FOMC – All Eyes on the Fed
Crude Oil Price Outlook: Holding up Well Despite Demand Fears
Moving Average (MA) Explained for Traders
USD/CNH Weakness Persist After China Data Dump as Chinese FDI and FOMC Approach
AUD/USD Unfazed on Westpac Consumer Confidence as FOMC, AU Jobs Report Nears
Gold Price Continues to Defend November Low Ahead of Fed Rate Decision
EU Stoxx 50 In Limbo as Markets Await Key Central Bank Decisions
Nasdaq 100 Slides as Traders Prepare for a Hawkish Turn From the FOMC
Tuesday, 14 December 2021
NZD/USD Outlook: RSI Flirts with Oversold Zone Ahead of Fed, NZ GDP
British Pound (GBP) Price Outlook: GBP/USD to Drift, UK Jobs Data Mixed
What is Leverage in Forex? Forex Leverage Explained
Crude Oil Forecast: Bears in Control on Omicron Risks, Surging US Production
Dow Jones Sinks to Start off the Week, Will the Nikkei 225 and ASX 200 Follow?
USD/CAD Continues Higher Despite Bank of Canada Inflation Mandate Extension
Hang Seng Rally Could Gain Traction as PBOC Focuses on Easing, Economic Support
Monday, 13 December 2021
Gold Price Forecast: XAU Winds Up for a Big Break - FOMC on Tap
US Dollar (DXY) Remains Supported Ahead of Significant FOMC Meeting
Trading the London Session: Guide for Forex Traders
British Pound (GBP) Outlook: A Volatile Week Ahead for GBP/USD
Hawkish vs Dovish: How Monetary Policy Affects FX Trading
Euro Straddles 1.1300 Ahead of ECB and Fed Meetings. Will EUR/USD Break Out?
AUD/USD Looks Higher Ahead of Busy Week as Sentiment Improves
Sunday, 12 December 2021
Dow Jones, S&P 500, Nasdaq 100 Outlook for the Week Ahead: All Eyes on the Fed
Dow Jones, S&P 500, Nasdaq 100 Outlook for the Week Ahead: All Eyes on the Fed
Euro Forecast: ECB Facing Tough Decisions on Asset Purchase Programs
Euro Forecast: ECB Facing Tough Decisions on Asset Purchase Programs
Gold Price Forecast: XAU Eyes FOMC as Falling Breakeven Rates Drag Gold
Gold Price Forecast: XAU Eyes FOMC as Falling Breakeven Rates Drag Gold
Friday, 10 December 2021
GBP Forecast: GBP/USD in the Eye of the FOMC/BOE Volatility Storm
GBP Forecast: GBP/USD in the Eye of the FOMC/BOE Volatility Storm
U.S. Consumer Sentiment Sees Small Gains Through Holiday Season
USD Dips, Gold Picks Up on 40yr High Inflation Having Matched Estimates
Trading Forex at the News Release
Chinese Yuan (CNH) Latest: PBoC Signals Unease With CNH Rise, Reversal May Boost USD
Thursday, 9 December 2021
US Dollar Range Remains Ahead of CPI: EUR/USD, GBP/USD, USD/CAD
Congress v Crypto: Fintwit Trends to Watch
Crude Oil Outlook: Oil, Covid-19, Key Levels
How Central Banks Impact the Forex Market
US Dollar (DXY) Treading Water as US Inflation Report Nears
Pound Sterling Price Analysis: GBP/USD Selling Pressure Continues as Institutions Weigh-in
Australian Dollar Forecast: Aggressive AUD/USD Rebound Facing Topside Hurdle
Trading Journal: What it is and How to Create One
FTSE 100 Price Outlook: London Stocks to Advance Further as UK Rate Hike Fears Fade
Wednesday, 8 December 2021
Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update
Canadian Dollar Price Action post-BoC: USD/CAD, CAD/JPY, Eyes on Oil
Bank of Canada Disappoints Canadian Dollar Bulls
EUR/USD Ongoing Weakness, EUR/GBP Aided by UK Political Shambles, EUR/CAD Eyes BoC
Bank of Canada Preview: How Will the Canadian Dollar (CAD) React?
Forex Vs Stocks: Top Differences & How to Trade Them
British Pound (GBP) Price Outlook: Downside Pressure on GBP/USD Persists
10 Trading Mistakes to Avoid in Forex Trading
Tuesday, 7 December 2021
S&P 500 Roars Higher on Omicron Optimism as Traders Reassess Pandemic Risks
USD/JPY Rate Clears Monthly Opening Range After Defending November Low
Apple, Nasdaq, ARKK Jump as China Sounds Support: Is the Santa Rally Here?
Markets Rallying as Omicron Fears Recede | Sentiment Webinar
Gold Price Currently Lacks Any Meaningful Conviction, Volatility Lies Elsewhere
South African GDP Contracts in Q3 After Four Successive Quarters of Growth
EUR/USD Muted Following Mixed ZEW Survey, Euro Risks Remains Lower
British Pound (GBP) Price Outlook: GBP/USD Stable But Still Testing Support
Introduction to Pitchfork Analysis & Median Line Trading
Crude Oil Price Rise May Struggle on Incoming Supply, Demand Data
Gold Price Outlook: XAU Prices Coiling for Potential Move on US Inflation Data?
Australian Dollar Skittish After the RBA Left Policy Unchanged. Where to for AUD/USD?
How to Manage the Emotions of Trading
S&P 500 and Dow Jones Gain. Will ASX 200 Rise on RBA after PBOC RRR Cut?
AUD/USD Rises With Down Jones as Traders Await China Trade Data, RBA
Monday, 6 December 2021
Natural Gas Plunges Over 10% on Warmer Winter Forecasts
Dow Jones Leaps as Omicron Fears Ease; Airline Stocks Take Off as Bargain Hunters Swoop In
EUR/USD Rebound From November Low Unravels amid Hawkish Fed Rhetoric
FX Week Ahead - Top 5 Events: BOC & RBA Rate Decisions; UK GDP; German & US Inflation Rates
Gold Price Forecast: Gold After the Bear Flag Breach, CPI on Deck
The CPI and Forex: How CPI Data Affects Currency Prices
AUD/USD Forecast: Australian Dollar Susceptible to Wait-and-See RBA
Top 10 Candlestick Patterns To Trade the Markets
Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, Yen, AUD/USD, RBA, USD/CAD, BoC
Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, Yen, AUD/USD, RBA, USD/CAD, BoC
Why a Rise in Retail Trading May Signal Another Mania
Cryptocurrencies Hammered Over the Weekend, ETH/BTC Spread Continues to Rally
AUD/USD at the Extremes, Fading EUR/GBP Rallies Remains Appropriate
Evergrande Shares Slump to a Multi-Year Low on Fresh Default Fears
Gold Prices May Backtrack as Markets Steady, Omicron a Wildcard
Crude Oil Holds Gain on OPEC+ Fallout and US Dollar Softens. Where To From Here?
How to Manage Fear and Greed in Trading
Australia Data On Tap For Monday
Australia will on Monday see November figures for job ads and inflation, highlighting a light day for Asia-Pacific economic activity.
In October, the job advertisement survey from ANZ was up 6.2 percent on month, while the inflation gauge from TD Securities was up 0.2 percent on month.
Also, the markets in Thailand are closed on Monday in observance of the late King Bhumibol's birthday; they'll re-open on Tuesday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186620/
Australian Dollar Forecast: AUD/USD in Focus as Traders Await Omicron News, RBA
Sunday, 5 December 2021
Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, Yen, AUD/USD, RBA, USD/CAD, BoC
Markets Week Ahead: Dow Jones, Nasdaq 100, US Dollar, Yen, AUD/USD, RBA, USD/CAD, BoC
S&P 500 Weekly Forecast: Omicron Fears May Weigh on US Stocks; Reopening Trade at Risk
S&P 500 Weekly Forecast: Omicron Fears May Weigh on US Stocks; Reopening Trade at Risk
USD/JPY on the Cusp of Reversal as All Yen Crosses Yield to Risk Trends
USD/JPY on the Cusp of Reversal as All Yen Crosses Yield to Risk Trends
Euro Week Ahead Forecast: EUR/USD Bounce May Be Over Already
Euro Week Ahead Forecast: EUR/USD Bounce May Be Over Already
Gold Makes Third Successive Weekly Decline As General Market Sentiment Whipsaws
Gold Makes Third Successive Weekly Decline As General Market Sentiment Whipsaws
Saturday, 4 December 2021
US Dollar Fundamental Forecast: DXY Primed Ahead of CPI Data
US Dollar Fundamental Forecast: DXY Primed Ahead of CPI Data
USD/CAD Outlook Hinges on Bank of Canada (BoC) Rate Decision
USD/CAD Outlook Hinges on Bank of Canada (BoC) Rate Decision
Australian Dollar May Wobble on RBA Rate Decision, Omicron Variant and US CPI
Australian Dollar May Wobble on RBA Rate Decision, Omicron Variant and US CPI
Dollar Turns In Mixed Performance Against Major Counterparts
The U.S. dollar drifted lower against some of its major rivals Friday morning after data showed a much smaller than expected increase in employment in the month of November.
However, the dollar recovered amid increasing prospects of the Federal Reserve beginning to rise interest rates by mid 2022.
Data released by the Labor Department showed non-farm payroll employment rose by 210,000 jobs in November after surging by an upwardly revised 546,000 jobs in October. Economists had expected employment to spike by 550,000 jobs compared to the jump of 531,000 jobs originally reported for the previous month.
Despite the much weaker than expected job growth, the unemployment rate slid to 4.2% in November from 4.6% in October. Economists had expected the unemployment rate to edge down to 4.5%.
With the much bigger than expected decrease, the unemployment rate fell to its lowest level since hitting 3.5% in February of 2020.
A report from the Institute for Supply Management showed an unexpected acceleration in the pace of growth in U.S. service sector activity in the month of November.
The ISM said its services PMI rose to a record high 69.1 in November from 66.7 in October, with a reading above 50 indicating growth in the sector. The increase surprised economists, who had expected the index to dip to 65.0.
The Commerce Department said factory orders surged up by 1% in October after climbing by an upwardly revised 0.5% in September. Economists had expected factory orders to increase by 0.5% compared to the 0.2% uptick originally reported for the previous month.
U.S. senators passed a stopgap spending bill to keep the government funded through February 18, ahead of today's deadline.
The bill was approved by a vote of 69-28, amid stiff opposition from Republicans regarding Biden's Covid-19 vaccine mandates.
The dollar index drifted down to 95.97 after jobs data, but swiftly rebounded into positive territory and rose to 96.45 before sliding lower again. The index is currently at 96.16, its previous closing level.
Against the Euro, the dollar weakened a bit to $1.1311, down 0.07% from the previous close. Data from Eurostat showed that Eurozone retail sales increased in October after falling in the previous month.
Retail sales grew 0.2% month-on-month in October, as expected, reversing a 0.4% fall in September.
The dollar is trading at $1.3233 against Pound Sterling, firming from $1.3306 a sterling.
The dollar is trading at 112.81 yen, weakening from 113.18.
Against the Aussie, the dollar firmed to 0.6996 from 0.7094.
The Swiss franc strengthened to 0.9180 against the dollar, rising from 0.9202.
The Loonie firmed to 1.2744 against the dollar after oil prices rose and data showed a much bigger than expected increase in addition of jobs in November, but dropped to 1.2848 after the commodity pared gains amid uncertainty about the outlook for energy demand.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186619/
Oil Futures Pare Early Gains, Settle Lower
Crude oil futures pared early gains and settled lower on Friday amid uncertainty about the outlook for energy demand due to fresh restrictions on movements following the spread of the new coronavirus variant Omicron in several countries.
Oil prices climbed higher earlier in the day, riding on the decision of OPEC+ to stick to their existig policy of monthly oil output increases but left room for quick adjustments if the Omicron variant hits demand.
The OPEC+ decided to stick to their plan to increase output by 400,000 barrels per day in January, in a sign of the group's belief in firm market fundamentals.
A statement from OPEC+ noted the meeting would "remain in session" so producers could "make immediate adjustments if required."
The alliance said in a communique following a meeting on Thursday that it stood ready to reconvene "pending further developments of the pandemic, and to continue to monitor the market closely and make immediate adjustments if required."
West Texas Intermediate Crude oil futures for January ended down by $0.24 or about 0.4% at $66.26 a barrel.
WTI crude futures shed about 2.8% in the week.
Brent crude futures were down marginally at $69.63 a barrel a little while ago.
A report from Baker Hughes said the total count of active drilling rigs in the U.S. held steady at 569, the same as last week. Rigs targeting crude oil and natural gas remained unchanged at 467 and 102, respectively.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186618/
Treasuries Move Sharply Higher Following Weaker Than Expected Jobs Data
After showing a lack of direction early in the session, treasuries moved sharply higher over the course of the trading day on Friday.
Bonds prices showed a steady advance as the day progressed, closing firmly in positive territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, tumbled 10.5 basis points to 1.343 percent.
The steep drop extended a recent downward trend by the ten-year yield, which ended the session at its lowest closing level in well over two months.
The rally by treasuries came following the release of a closely watched Labor Department report showing much weaker than expected U.S. job growth in the month of November.
The report said non-farm payroll employment rose by 210,000 jobs in November after surging by an upwardly revised 546,000 jobs in October.
Economists had expected employment to spike by 550,000 jobs compared to the jump of 531,000 jobs originally reported for the previous month.
Despite the much weaker than expected job growth, the unemployment rate slid to 4.2 percent in November from 4.6 percent in October. Economists had expected the unemployment rate to edge down to 4.5 percent.
With the much bigger than expected decrease, the unemployment rate fell to its lowest level since hitting 3.5 percent in February of 2020.
The disappointing job growth raised some concerns about the economic outlook amid the emergence of the Omicron variant, increasing the appeal of safe havens like bonds.
However, economists do not expect the data to dissuade from the Federal Reserve from accelerating the tapering of its asset purchases.
"'Yes' the jobs report is strong enough for the Fed to announce a likely doubling of the pace of QE asset purchase tapering," said Gregory Daco, Chief U.S. Economist at Oxford Economics.
He added, "The Fed's pivot is aimed at providing hawkish forward guidance while clearing the runway for rate hikes anytime after March 2022."
Meanwhile, a separate report from the Institute for Supply Management showed an unexpected acceleration in the pace of growth in U.S. service sector activity in the month of November.
The ISM said its services PMI rose to a record high 69.1 in November from 66.7 in October, with a reading above 50 indicating growth in the sector. The increase surprised economists, who had expected the index to dip to 65.0.
News on the Omicron front may continue to impact next week's trading, while reports on consumer prices, the U.S. trade deficit and consumer sentiment may also attract attention.
Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of three-year and ten-year notes and thirty-year bonds.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186617/
Gold Futures Settle Sharply Higher For The Day, Posts Marginal Loss In Week
Gold prices moved up sharply on Friday, as equities drifted lower on disappointing U.S. jobs data. A weak dollar too supported the yellow metal's uptick.
Concerns about the spread of the new Omicron variant of the coronavirus rendered the mood in global stock markets cautious.
The World Health Organization said today that the new strain, which was first spotted in South Africa, has now been detected in 38 countries.
The new Omicron variant has been detected in at least five states in the U.S.
The dollar index, which dropped to 95.97, recovered a bit to 96.02, still down by about 0.14% from Thursday's close.
Gold futures for February ended up by $21.20 or about 1.2% at $1,783.90 an ounce. For the week, gold futures shed about $2.00.
Silver futures for March ended higher by $0.165 at $22.481 an ounce, while Copper futures for March settled at $4.2670 per pound, down $0.0320 from the previous close.
Data released by the Labor Department showed non-farm payroll employment rose by 210,000 jobs in November after surging by an upwardly revised 546,000 jobs in October. Economists had expected employment to spike by 550,000 jobs compared to the jump of 531,000 jobs originally reported for the previous month.
Despite the much weaker than expected job growth, the unemployment rate slid to 4.2% in November from 4.6% in October. Economists had expected the unemployment rate to edge down to 4.5%.
With the much bigger than expected decrease, the unemployment rate fell to its lowest level since hitting 3.5% in February of 2020.
A report from the Institute for Supply Management showed an unexpected acceleration in the pace of growth in U.S. service sector activity in the month of November.
The ISM said its services PMI rose to a record high 69.1 in November from 66.7 in October, with a reading above 50 indicating growth in the sector. The increase surprised economists, who had expected the index to dip to 65.0.
The Commerce Department said factory orders surged up by 1% in October after climbing by an upwardly revised 0.5% in September. Economists had expected factory orders to increase by 0.5% compared to the 0.2% uptick originally reported for the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186616/
Friday, 3 December 2021
*India Nov Composite Output Index 59.2 Vs. 58.7 In October
India Nov Composite Output Index 59.2 Vs. 58.7 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186540/
*Ireland Nov Services PMI 59.3 Vs. 63.4 In October
Ireland Nov Services PMI 59.3 Vs. 63.4 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186538/
*Fitch Downgrades Turkey's Rating Outlook To Negative From Stable
Fitch Downgrades Turkey's Rating Outlook To Negative From Stable
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186537/
China Services PMI Falls To 52.1 In November - Caixin
The services sector in China continued to expand in November, albeit at a slower pace, the latest survey from Caixin showed on Friday with a PMI score of 52.1.
That's down from 53.8 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Total new business rose at the slowest rate for three months in November and only marginally overall. Firms indicated that measures to curb the spread of COVID-19 had dampened new order inflows. Foreign demand also rose only slightly, with the pandemic also cited as a key reason for relatively muted growth.
Despite the disruption to business activity due to COVID-19 and a softer rise in new work, firms remained strongly confident that output will increase over the next year.
The survey also showed that the composite index slipped to 51.2 from 51.5 in the previous month.
The rate of expansion was the softest seen over this period and modest overall. The upturn was also weaker than the long-run trend (52.6). Sector data showed that a slower rise in services activity offset a renewed, albeit fractional, increase in manufacturing output.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186536/
*China Services PMI 52.1 In November; Composite 51.2 - Caixin
China Services PMI 52.1 In November; Composite 51.2 - Caixin
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186535/
How to Research Stocks: A Step by Step Guide
Japan Services Sector Picks Up Steam In November - Jibun
The services sector in Japan continued to expand in November, and at a faster pace, the latest survey from Jibun Bank showed on Friday with a PMI score of 53.0.
That's up from 50.7 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Activity increased at the sharpest rate since August 2019, amid the fastest upturn in new business inflows for over two-and-a-years. Despite the improvement in demand conditions and renewed evidence of building capacity pressure, service providers recorded a slight decline in employment levels, the first in four months.
Nonetheless, the level of positive sentiment regarding next year's outlook strengthened for the third month running and was at its highest point since the survey began in September 2007.
The survey also showed that the composite index improved to 53.3 from 50.7 in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186534/
Gold Price Forecast: XAU/USD Vulnerable Ahead of Non-Farm Payrolls, Watch Earnings
Hong Kong Private Sector PMI Accelerates In November - Markit
The private sector in Hong Kong continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Friday with a PMI score of 52.6.
That's up from 50.8 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This represented a tenth successive month in which the Hong Kong SAR private sector expanded and at the fastest pace since August.
Demand and output expansions both picked up their paces in November, rising at the fastest rates in three months. With the COVID-19 situation under control in Hong Kong SAR, market confidence was seen improving, driving the rise in demand and thereby output.
External demand, both from Mainland China and more generally abroad, remained weak, however, shrinking at faster rates in November.
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source http://www.mt5.com/forex_news/quickview/2186533/
Singapore Private Sector PMI Ebbs In November - Markit
The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from Markit Economics showed on Friday with a PMI score of 52.0.
That's down from 52.3 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Private sector output rose for the twelfth straight month in November and at the fastest rate since July. Better demand conditions, set against the backdrop of opening of vaccinated travel lanes (VTLs), enabled output to rise at a faster rate in November according to panelists.
New orders continued to grow at a strong rate in November following the gradual easing of COVID-19 restrictions in Singapore. Growth of foreign demand notably surged to a record rate in November, with anecdotal evidence suggesting better global demand having been witnessed.
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source http://www.mt5.com/forex_news/quickview/2186532/
*Hong Kong Private Sector PMI 52.6 In November - Markit
Hong Kong Private Sector PMI 52.6 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186530/
*Jaan Services PMI 53.0 In November; Composite 53.3 - Jibun
Jaan Services PMI 53.0 In November; Composite 53.3 - Jibun
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source http://www.mt5.com/forex_news/quickview/2186529/
*Singapore Private Sector PMI 52.0 In November - Markit
Singapore Private Sector PMI 52.0 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186531/
Australia Services Sector Picks Up Steam In November - Markit
The services sector in Australia continued to expand in November, and at a faster pace, the latest survey from Markit Economics revealed on Friday with a services PMI score of 55.7.
That's up from 51.8 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The rate at which business activity rose was the fastest since June, prior to when the COVID-19 Delta wave hit the Australian economy. Panelists widely noted that an easing of COVID-19 restrictions had enabled business conditions to improve in November.
Incoming new business rose for a second straight month in November and at the fastest pace in five months, with the Information & Communication sector exhibiting the strongest growth in demand.
The survey also showed that the composite index rose from 52.1 in October to 55.7 in November.
This indicated a faster rate of private sector output growth in November following three months of contraction between July and September.
Demand and output growth across both manufacturing and service sectors picked up in November, lifted by the effects of easing COVID-19 restrictions. Services output growth surpassed manufacturing for the first time in five months.
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source http://www.mt5.com/forex_news/quickview/2186528/
China Services Index Data Due On Friday
China will on Friday see November results for the services and composite indexes from Caixin, highlighting a modest day for Asia-Pacific economic activity. In October, their scores were 53.8 and 51.5, respectively.
Singapore will release October figures for retail sales; in September, sales were up 6.0 percent on month and 6.6 percent on year.
Thailand will provide November numbers for consumer prices, with forecasts suggesting an increase of 2.5 percent - up from 2.38 percent in October.
Hong Kong and Singapore will see November results for their private sector PMIs from market Economics; in October, their scores were 50.8 and 52.3, respectively.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186527/
*Australia Services Index 55.7, Composite Index 55.7 In November - Markit
Australia Services Index 55.7, Composite Index 55.7 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186526/
*Australia Performance Of Construction Index 57.0 In November - AiG
Australia Performance Of Construction Index 57.0 In November - AiG
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source http://www.mt5.com/forex_news/quickview/2186525/
U.S. Dollar Edges Higher Amid Lingering Omicron Concerns
The value of the U.S. dollar has once again fluctuated over the course of trading on Thursday and is currently seeing modest strength.
After falling as low as 95.83 in morning trading, the U.S. dollar index is currently trading at 96.14, up 0.12 points or 0.1 percent.
The dollar is trading at 113.17 yen versus the 112.78 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1300 compared to yesterday's $1.1320.
The uptick by the greenback may partly reflect the currency's appeal as a safe haven amid lingering concerns about the new omicron variant of the coronavirus.
In U.S. economic news, the Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th.
The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week's revised level of 194,000.
Economists had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week.
The modest increase came after jobless claims tumbled to their lowest level since 1969 in the previous week, although the drop was partly attributed to the later timing of Thanksgiving this year throwing off the seasonal adjustment.
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source http://www.mt5.com/forex_news/quickview/2186524/
Crude Oil Shows Notable Move Back To The Upside
After coming under pressure over the course of the previous session, treasuries showed a notable move back to the upside during trading on Thursday.
Crude for January delivery jumped $0.93 or 1.4 percent to $66.50 a barrel after ending Wednesday's trading down $0.61 or 0.9 percent at a three-month closing low of $65.57 a barrel.
The rebound by crude oil came even though OPEC and its allies, collectively known as OPEC+, decided to stick to their plant to increase output by 400,000 barrels per day in January.
A statement from OPEC+ noted the meeting would "remain in session" so producers could "make immediate adjustments if required."
Meanwhile, White House press secretary Jen Psaki told reporters Wednesday that she knew of no plans to slow releases from strategic reserves.
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source http://www.mt5.com/forex_news/quickview/2186523/
Treasuries Show Modest Move To The Downside
After showing a lack of direction early in the session, treasuries moved modestly lower over the course of the trading day on Thursday.
Bond prices climbed off their worst levels going into the close but remained in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.4 basis points to 1.448 percent.
The modest weakness among treasuries came as a rally on Wall Street reduced the appeal of safe havens like bonds.
Stocks showed a strong move to the upside after pulling back sharply over the course of the previous session, with the Dow bouncing off a nearly two-month closing low.
The rebound extends the rollercoaster ride stocks have been on since news of the detection of omicron variant of the coronavirus.
In U.S. economic news, the Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th.
The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week's revised level of 194,000.
Economists had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week.
The modest increase came after jobless claims tumbled to their lowest level since 1969 in the previous week, although the drop was partly attributed to the later timing of Thanksgiving this year throwing off the seasonal adjustment.
Looking ahead, the Labor Department's closely watched monthly jobs report is likely to be in the spotlight on Friday, overshadowing separate reports on service sector activity and factory orders.
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source http://www.mt5.com/forex_news/quickview/2186522/
Chinese Yuan Forecast: USD/CNH Eyes PMI Data as Prices Gyrate Near 2021 Low
Gold Prices Move Notably Lower Amid Rally On Wall Street
Gold prices showed a significant move to the downside during trading on Thursday, more than offsetting the increase seen in the previous session.
After climbing $7.80 or 0.4 percent to $1,784.30 an ounce on Wednesday, gold for February delivery slumped $12.60 or 1.2 percent to $1,762.70 an ounce.
The pullback by the price of gold came amid reduced appeal for the safe-haven asset as stocks on Wall Street rebounded strongly following yesterday's sharp pullback.
An uptick in the value of the U.S. dollar may also have weighed on the precious metal, with the U.S. dollar index inching up 0.1 percent to 96.11.
In U.S. economic news, the Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th.
The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week's revised level of 194,000.
Economists had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186521/
Thursday, 2 December 2021
Australia Has A$11.22 Billion Trade Surplus In October
Australia had a seasonally adjusted merchandise trade surplus of A$11.22 billion in October, the Australian Bureau of Statistics said on Thursday.
That exceeded expectations for a surplus of A$11.0 billion following the downwardly revised A$11.82 billion trade surplus in September (originally -A$12.243 billion).
Exports dropped 3.0 percent on month or A$1.491 billion to A$43.053 billion. Goods were down 3.0 percent on month, while services fell 6.0 percent.
Imports also slipped 3.0 percent on month or A$887 million to A$31.833 billion. Goods were down 3.0 percent on month, while services fell 2.0 percent.
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source http://www.mt5.com/forex_news/quickview/2186487/
*Australia Home Loans -4.1% On Month In October
Australia Home Loans -4.1% On Month In October
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source http://www.mt5.com/forex_news/quickview/2186485/
*Australia Retail Sales +4.9% On Month In November
Australia Retail Sales +4.9% On Month In November
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source http://www.mt5.com/forex_news/quickview/2186486/
*Australia Trade Surplus A$11.22 Billion In October
Australia Trade Surplus A$11.22 Billion In October
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source http://www.mt5.com/forex_news/quickview/2186483/
*Australia Exports -3.0% On Month In October; Imports -3.0%
Australia Exports -3.0% On Month In October; Imports -3.0%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186484/
Crude Oil Price Outlook Turns to OPEC+ Meeting as Omicron Variant Threatens Demand
Gold Prices Weighed Down on Falling Breakeven Rates as NFP Report Approaches
South Korea GDP Gains 0.3% On Quarter In Q3
South Korea's gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the third quarter of 2021, the Bank of Korea said in Thursday's preliminary report.
That was in line with expectations and down from the 0.8 percent growth in the previous three months.
On an annualized yearly basis, GDP jumped 4.0 percent - again roughly matching estimates and slowing from 6.0 percent in the second quarter.
Real gross national income (GNI) decreased by 0.7 percent on quarter in the third quarter but gained 2.8 percent on year.
On the production side, manufacturing was consistent with the previous quarter, as machinery and equipment increased while transportation equipment decreased. Construction declined by 2.4 percent, owing to a decrease in civil engineering. Services grew by 0.5 percent, with increases in finance and insurance and human health and social work.
On the expenditure side, private consumption contracted by 0.2 percent, as expenditures on non-durable goods increased but services decreased. Government consumption rose by 1.3 percent, mainly due to increased expenditures on goods. Construction investment contracted by 3.5 percent, as civil engineering decreased. Facilities investment fell by 2.4 percent, driven by a decrease in transportation equipment. Exports went up by 1.8 percent, due to increases in coal & petroleum products and machinery & equipment. Imports fell by 0.7 percent, owing to decreased imports of transport equipment.
Nominal GNI rose by 0.1 percent in the third quarter of 2021 relative to the quarter before, increasing less than nominal GDP (1.4 percent) as net factor income from the rest of the world fell. Real GNI decreased by 0.7 percent compared to the previous quarter, decreasing more than real GDP (0.3 percent) as net factor income from the rest of the world fell. The GDP deflator increased by 2.3 percent year on year.
The gross saving ratio (gross saving/gross national disposable income) stood at 35.9 percent, 0.1 percentage points higher than in the previous quarter, as the nominal gross disposable income (0.5 percent) increased slightly more than the final consumption expenditure (0.3 percent). The gross domestic investment ratio (gross capital formation/GNDI) was 31.6 percent, 0.1 percentage points lower than in the previous quarter, due to a decrease in facilities investment.
Also on Thursday, Statistics Korea said that consumer prices in South Korea climbed 3.7 percent on year in November. That surpassed expectations for 3.1 percent and was up from 3.2 percent in October.
On a monthly basis, inflation rose 0.4 percent versus forecasts for a decline of 0.2 percent and up from 0.1 percent in the previous month.
Core CPI, which excludes volatile food prices, added 0.1 percent on month and 1.9 percent on year after gaining 0.3 percent on month and 2.4 percent on year in October.
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source http://www.mt5.com/forex_news/quickview/2186482/
AUD/USD Hits a Low as US Dollar Dominates. Will the Fed Weigh on the Aussie?
South Korea Inflation Jumps 3.7% On Year In November
Consumer prices in South Korea climbed 3.7 percent on year in November, Statistics Korea said on Thursday.
That surpassed expectations for 3.1 percent and was up from 3.2 percent in October.
On a monthly basis, inflation rose 0.4 percent versus forecasts for a decline of 0.2 percent and up from 0.1 percent in the previous month.
Core CPI, which excludes volatile food prices, added 0.1 percent on month and 1.9 percent on year after gaining 0.3 percent on month and 2.4 percent on year in October.
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source http://www.mt5.com/forex_news/quickview/2186481/
South Korea GDP Rises 0.3% On Quarter In Q3
South Korea's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the third quarter of 2021, the Bank of Korea said in Thursday's preliminary report.
That was in line with expectations and down from the 0.8 percent growth in the previous three months.
On an annualized yearly basis, GDP jumped 4.0 percent - again roughly matching estimates and slowing from 6.0 percent in the second quarter.
Real gross national income (GNI) decreased by 0.7 percent on quarter in the third quarter but gained 2.8 percent on year.
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source http://www.mt5.com/forex_news/quickview/2186480/
*South Korea GDP +0.3% On Quarter, +4.0% On Year In Q3
South Korea GDP +0.3% On Quarter, +4.0% On Year In Q3
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186478/
*South Korea Inflation +0.4% On Month, +3.7% On Year In November
South Korea Inflation +0.4% On Month, +3.7% On Year In November
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source http://www.mt5.com/forex_news/quickview/2186479/
Australia Data On Tap For Thursday
Australia is scheduled to release a batch of data on Thursday, setting the pace for a modest day in Asia-Pacific economic activity. On tap are October figures for imports, exports, trade balance, retail sales and home loans.
Retail sales are expected to rise 4.9 percent on month, accelerating from 1.3 percent in September. Home loans are tipped to fall 1.0 percent on month after slipping 2.7 percent in the previous month.
The trade surplus is pegged at A$11 billion, down from A$12.243 billion a month earlier - when imports dipped 2.0 percent on month and exports sank 6.0 percent. Japan will see November results for its consumer confidence index; in October, the index score was 39.2.
South Korea will provide final Q3 numbers for gross domestic product and November figures for consumer prices. GDP was up 0.8 percent on quarter and 6.0 percent on year in Q2. Inflation is predicted to ease 0.2 percent on month and rise 3.1 percent on year after gaining 0.1 percent on month and 3.2 percent on year in October.
Thailand will see November results for its consumer confidence index; in October, the index score was 43.9.
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source http://www.mt5.com/forex_news/quickview/2186477/
New Zealand Terms Of Trade Rise 0.7% In Q3
New Zealand's terms of trade rose 0.7 percent on quarter in the third quarter of 2021, Statistics New Zealand said on Thursday.
That was shy of expectations for an increase of 2.0 percent and down from 3.3 percent in the three months prior.
Export prices climbed 4.6 percent on quarter, beating forecasts for a gain of 1.4 percent following the 8.3 percent spike in the previous quarter.
Import prices were up 3.8 percent on quarter, exceeding expectations for a gain of 3.0 percent and slowing from 4.8 percent in the second quarter.
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source http://www.mt5.com/forex_news/quickview/2186476/
*New Zealand Export Prices +4.6% On Quarter In Q3; Import Prices +3.8%
New Zealand Export Prices +4.6% On Quarter In Q3; Import Prices +3.8%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186475/
*New Zealand Terms Of Trade +0.7% On Quarter In Q3
New Zealand Terms Of Trade +0.7% On Quarter In Q3
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source http://www.mt5.com/forex_news/quickview/2186474/
S&P 500, Nasdaq 100 Sink on Omicron and Fed Risks. ASX 200 Reversal Signal in Focus
U.S. Dollar Recovers From Early Weakness On First U.S. Omicron Case
The value of the U.S. dollar moved to the downside in morning trading on Wednesday but has rebounded as the day has progressed.
Currently, the U.S. dollar index is trading at 96.07 points, up 0.1 percent, after falling as low as 95.67 earlier in the day.
The greenback is trading at 112.80 yen compared to the 113.17 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1315 compared to yesterday's $1.1338.
The dollar benefited from its appeal as a safe haven after the Center for Disease Control and Prevention revealed the first confirmed case of Covid-19 caused by the new Omicron variant has been detected in the U.S.
The CDC said the first confirmed omicron case was detected in an individual in California, who returned from South Africa on November 22, 2021.
"The individual, who was fully vaccinated and had mild symptoms that are improving, is self-quarantining and has been since testing positive," the CDC said. "All close contacts have been contacted and have tested negative."
On the U.S. economic front, a report released by payroll processor ADP showed private sector employment increased by slightly more than expected in the month of November.
ADP said private sector employment shot up by 534,000 jobs in November after surging by a revised 570,000 jobs in October.
Economists had expected private sector employment to jump by about 525,000 jobs compared to the addition of 571,000 jobs originally reported for the previous month.
ADP chief economist Nela Richardson noted, "It's too early to tell if the Omicron variant could potentially slow the jobs recovery in coming months."
The Institute for Supply Management released a separate report showing manufacturing activity grew at a slightly faster rate in the month of November.
The ISM said its manufacturing PMI crept up to 61.1 in November from 60.8 in October, with a reading above 50 indicating growth in the sector. Economists had expected the index to inch up to 61.0.
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source http://www.mt5.com/forex_news/quickview/2186473/
Oil Prices Come Under Pressure On First U.S. Omicron Case
Crude oil prices showed a strong move to the upside in early trading on Wednesday but came under pressure over the course of the session.
After reaching a high of $69.49 a barrel, crude for January delivery slumped $0.61 or 0.9 percent to end the day at $65.57 a barrel, its lowest closing level in three months.
With the downturn on the day, the price of crude oil saw further downside after plunging $3.77 or 5.4 percent to $66.18 a barrel on Wednesday.
The pullback by crude oil prices came after the Center for Disease Control and Prevention revealed the first confirmed case of Covid-19 caused by the new Omicron variant has been detected in the U.S.
The CDC said the first confirmed omicron case was detected in an individual in California, who returned from South Africa on November 22, 2021.
"The individual, who was fully vaccinated and had mild symptoms that are improving, is self-quarantining and has been since testing positive," the CDC said. "All close contacts have been contacted and have tested negative."
Oil prices initially benefited from improved risk sentiment ahead of an OPEC meeting where major producers will discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.
Meanwhile, the Energy Information Administration released a report showing crude oil inventories dipped by 0.9 million barrels in the week ended November 26th, less than the 1.2 million drop economists had expected.
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source http://www.mt5.com/forex_news/quickview/2186472/
Treasuries Recover From Initial Weakness To Close Slightly Higher
After an early move to the downside, treasuries regained ground over the course of the trading session on Wednesday.
Bond prices climbed well off their worst levels of the day, closing slightly higher. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by nearly a basis point to 1.434 percent after reaching a high of 1.497 percent.
The initial pullback by treasuries came as traders cashed in on the advance seen in yesterday's session, which saw the ten-year yield hit its lowest intraday level in over two months.
Treasuries rebounded as the Center for Disease Control and Prevention revealed the first confirmed case of Covid-19 caused by the new Omicron variant has been detected in the U.S.
The CDC said the first confirmed omicron case was detected in an individual in California, who returned from South Africa on November 22, 2021.
"The individual, who was fully vaccinated and had mild symptoms that are improving, is self-quarantining and has been since testing positive," the CDC said. "All close contacts have been contacted and have tested negative."
Meanwhile, traders largely shrugged off the latest U.S. economic news, including a report released by payroll processor ADP showed private sector employment increased by slightly more than expected in the month of November.
ADP said private sector employment shot up by 534,000 jobs in November after surging by a revised 570,000 jobs in October.
Economists had expected private sector employment to jump by about 525,000 jobs compared to the addition of 571,000 jobs originally reported for the previous month.
ADP chief economist Nela Richardson noted, "It's too early to tell if the Omicron variant could potentially slow the jobs recovery in coming months."
The Institute for Supply Management released a separate report showing manufacturing activity grew at a slightly faster rate in the month of November.
The ISM said its manufacturing PMI crept up to 61.1 in November from 60.8 in October, with a reading above 50 indicating growth in the sector. Economists had expected the index to inch up to 61.0.
Further news on the Omicron front may attract attention on Thursday along with the Labor Department's report on weekly jobless claims.
Trading activity may be somewhat subdued, however, as traders look ahead to the more closely watched monthly jobs report on Friday.
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source http://www.mt5.com/forex_news/quickview/2186471/
Australian Dollar Outlook: Omicron Volatility Weighs on AUD Ahead of Trade Data
Copper Breaks Through Key Support on Sustained Omicron Worries
Wednesday, 1 December 2021
*Thai Manufacturing PMI 50.6 In November - Markit
Thai Manufacturing PMI 50.6 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186397/
*Taiwan Manufacturing PMI 54.9 In November - Markit
Taiwan Manufacturing PMI 54.9 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186396/
*South Korea Manufacturing PMI 50.9 In November - Markit
South Korea Manufacturing PMI 50.9 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186395/
*Philippines Manufacturing PMI 51.7 In November - Markit
Philippines Manufacturing PMI 51.7 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186394/
*Indonesia Manufacturing PMI 53.9 In November - Markit
Indonesia Manufacturing PMI 53.9 In November - Markit
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source http://www.mt5.com/forex_news/quickview/2186393/
*Japan Manufacturing PMI 54.5 In November - Jibun
Japan Manufacturing PMI 54.5 In November - Jibun
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source http://www.mt5.com/forex_news/quickview/2186392/
*Australia GDP -1.9% On Quarter, +3.9% On Year In Q3
Australia GDP -1.9% On Quarter, +3.9% On Year In Q3
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source http://www.mt5.com/forex_news/quickview/2186391/
South Korea Has $3.09 Billion Trade Surplus
South Korea posted a merchandise trade surplus of $3.09 billion in November, Statistics Korea said on Wednesday.
That exceeded expectations for a surplus of $2.2 billion and was up from the upwardly revised $1.78 billion surplus in October (originally $1.69 billion).
Exports jumped 32.1 percent on year, beating forecasts for an increase of 27.7 percent and up from the upwardly revised 24.1 percent gain in the previous month.
Imports surged an annual 43.6 percent versus expectations for an increase of 40.5 percent following the downwardly revised 37.7 percent increase a month earlier (originally 37.8 percent).
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source http://www.mt5.com/forex_news/quickview/2186390/
*South Korea Imports +43.6 On Year In November; Exports +32.1%
South Korea Imports +43.6 On Year In November; Exports +32.1%
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source http://www.mt5.com/forex_news/quickview/2186388/
*South Korea Trade Surplus $3.09 Billion In November
South Korea Trade Surplus $3.09 Billion In November
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186389/
*Japan Capital Spending +1.2% On Year In Q3
Japan Capital Spending +1.2% On Year In Q3
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source http://www.mt5.com/forex_news/quickview/2186387/
Crude Oil Forecast: OPEC+ on Tap as Prices Languish Below Key Moving Average
Gold Prices Sink as Powell’s Pivot Lifts Treasury Yields. Will XAU/USD Go Lower?
Australia GDP Data Due On Wednesday
Australia will on Wednesday release Q3 figures for gross domestic product, headlining a busy day for Asia-Pacific economic activity.
GDP is expected to slip 2.7 percent on quarter and rise 3.0 percent on year after gaining 0.7 percent on quarter and 9.6 percent on year in the three months prior.
Japan will provide Q3 numbers for capital spending; in the previous three months, capex was up 5.3 percent on year.
South Korea will see November numbers for imports, exports and trade balance. Imports are expected to surged 40.5 percent on year, up from 37.8 percent in October. Exports are called higher by an annual 27.7 percent, up from 24.0 percent in the previous month. The trade surplus was $1.69 billion in October.
Indonesia will release November numbers for consumer prices; in October, inflation was up 0.12 percent on month and 1.66 percent on year.
Thailand will see November results for its business confidence index; in October, the index score was 47.0.
Finally, a number of regional nations will see November results for their respective manufacturing PMIs from Markit Economics, including Australia, China (Caixin), Indonesia, Japan (Jibun), Malaysia, Myanmar, the Philippines, South Korea, Taiwan, Thailand and Vietnam.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186386/
Australia Manufacturing Sector Accelerates In November - Markit
The manufacturing sector in Australia continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a manufacturing PMI score of 59.2.
That's up from 58.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This marks the eighteenth straight month in which the sector grew and at the third-fastest rate on record.
A further easing of COVID-19 restrictions boosted market confidence and enabled demand to rise at a stronger pace in November. In turn, production likewise ramped up according to the latest survey results.
New export orders improved as well with COVID-19 restrictions easing abroad, though the rate of growth fell amidst ongoing shipping issues.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186385/
Dollar Rebounds From Early Lows After Powell's Comments On Policy Tightening
The U.S. dollar drifted lower in the Asian session on Tuesday and shed further ground subsequently before briefly rebounding above the flat line a little before noon after the Fed Chief indicated the central bank would discuss accelerate the pace of tightening its policy.
However, the greenback retreated soon and kept sliding gradually as the day progressed, with traders weighing the likely impact of the Omicron variant of the coronavirus on the global economy.
Federal Reserve Chairman Jerome Powell indicated the central bank could hasten a tightening of monetary policy.
Powell told the Senate Committee that he thinks reducing the pace of monthly bond buys can move more quickly than the $15 billion a month schedule announced earlier this month.
Powell's comments suggesting accelerated tapering comes as he told the Senate Banking Committee the recent surge in new Covid-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation.
Traders also reacted to the latest batch of economic reports. MNI Indicators released a report today that showed a slowdown in the pace of growth in Chicago-area business activity in the month of November.
The report said the Chicago business barometer slid to 61.8 in November from 68.4 in October, although a reading above 50 still indicates growth. Economists had expected the business barometer to edge down to 67.0.
Meanwhile, the Conference Board's report showed consumer confidence deteriorated in the month of November. The Conference Board said its consumer confidence index fell to 109.5 in November from a downwardly revised 111.6 in October. Economists had expected the index to dip to 110.7 from the 113.8 originally reported for the previous month.
Moderna's CEO Stephane Bancel expressed apprehensions about the effectiveness of existing vaccines against the newly identified Omicron variant.
Bancel said in an interview to the Financial Times that it will take a couple of weeks to determine how much the mutations have affected the efficacy of the vaccines currently available in the market.
The dollar index, which climbed to 96.64 from a low of 95.52, is hovering around 95.90, down nearly 0.5% from the previous close.
Against the Euro, the dollar is trading at $1.1339, compared to $1.1294 Monday evening.
The dollar has firmed to $1.3299 against Pound Sterling, gaining from $1.3314.
Against the Yen, the dollar is weaker by about 0.3%, fetching 113.16 yen a unit, as against 113.53 yen on Monday.
The dollar is trading at $0.7128 against the Aussie, firming from $0.7143.
The Swiss franc is at 0.9185 against the dollar, gaining from 0.0229.
The Loonie is weaker against the dollar, easing to C$1.2779 from C$1.2740, weighed down by falling crude oil prices.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186383/