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Germany HCOB Services PMI registered at 48.7 above expectations (48.5) in November
Germany HCOB Services PMI registered at 48.7 above expectations (48.5) in November
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Nikkei 225: Bulls Undeterred by Japanese Government Economic Downgrade
Recent price actions of the Nikkei 225 are still trading above its 20-day moving average despite the latest official downbeat assessment of...
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Euro Edges Higher as PMIs Show Improvement
German, Eurozone PMIs accelerate The euro is trading slightly higher on Thursday. In the European session, EUR/USD is trading at 1.0917, up...
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GBP/USD: Cable Rises on Better Than Expected UK PMI Data
Bulls regained control on Thursday after better than expected UK PMI data (services and composite rose above 50 threshold which divides...
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XAU/USD: Gold Remains Underpinned by Weaker Dollar
Gold remains constructive and holding near $2000 barrier on Thursday after Tue/Wed double failure to register daily close above this level....
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USD/CAD Analysis: Rate Approaching Important Support
Bank of Canada Governor Tiff Macklem said yesterday that enough may have been done to curb inflation. As follows from his words, current...
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Price of WTI Oil Forming a Reversal Pattern
In our analysis of the price of WTI oil dated November 8, we wrote that the price could recover to the level of USD 80 per barrel. After the...
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WTI Oil Futures Held Down by 200-day SMA
WTI futures fall to a 4-month low before attempting a recovery But the 200-day SMA repeatedly rejects their rebound Momentum indicators...
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Bitcoin’s Ascending Channel and Ethereum’s Bounce Back
Market picture Crypto market capitalisation rose 2.4% in 24 hours to $1.42 trillion, with gains across a vast range of altcoins from +0.4%...
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EUR/USD: Bulls Pausing for Consolidation
EURUSD regained traction early Thursday and reduced downside risk, as two-day pullback was strongly rejected on Wednesday. Technical studies...
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Gold Corrects Slightly But Remains in Uptrend
The gold (XAU) price dropped by 0.43% on Wednesday after higher-than-expected Michigan Consumer Sentiment Index figures. Possible effects for...
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USDJPY Stabilizes Near 149.00 ahead of Japanese CPI Report
The Japanese yen (JPY) lost 0.76% on Wednesday as the U.S. Dollar Index (DXY) corrected upwards following a better-than-expected Consumer...
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AUDUSD Challenges Recent 3-Month Peak
AUDUSD faces strong battle near 200-day SMA MACD and RSI suggest bullish bias AUDUSD could not find enough buyers to expand Tuesday’s bull run...
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US Stock Markets Extended Their Path Towards 2023 Tops
Markets The US 2-yr yield tested the post-CPI high (4.94%) yesterday following the release of first weekly jobless claims (209k from 233k vs...
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Delay is No Good Sign
OPEC decided to delay this weekend’s meeting to next week because talks between Saudi and African members apparently ran into trouble. Saudi...
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Stronger EU Opposition as Dutch Politics Turn Right
Market movers today Today will be the most exciting day of the week on the macro front. On the global front we get preliminary Euro zone PMIs...
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Silver (XAGUSD) Preparing for Breakout Higher
Silver (XAGUSD) shows a higher high (bullish) sequence from 10.3.2023 low favoring further upside. The rally higher from 10.3.2023 is...
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Bitcoin Price Holds Uptrend Support, Gold Consolidates
Key Highlights Bitcoin price started a fresh decline from the $37,750 resistance. BTC is still above a major bullish trend line with support...
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Weekly Economic & Financial Commentary: FOMC Proceeding Carefully on Policy
Summary United States: A Feast of Economic Data Ahead of Thanksgiving The cornucopia of economic indicators stuffed into the first half of the...
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Preview of RBNZ: Talking Tough About Doing Little
We expect the RBNZ will leave the OCR unchanged at 5.5% at its November policy meeting. The RBNZ’s forward profile for the OCR is likely...
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UK PMI composite rose to 50.1, but recession risks and inflation concerns linger
UK PMI data for November reflects a significant improvement in economic activity. Manufacturing PMI rose from 44.8 to a six-month high of...
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Eurozone PMI composite rose to 47.1, technical recession ongoing
Eurozone’s PMI data for November shows marginal improvement but continues to indicate broader recessionary trends. Manufacturing PMI...
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Germany PMI composite rose to 47.1, milder recession but inflation remains high
Germany’s November PMI data indicates a modest improvement in its economic situation, albeit still within recessionary bounds....
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France PMI composite falls to 44.5, continued contraction in a dead-end
Recent PMI data for France underscores a deepening economic downturn. Manufacturing PMI dropped to a 42-month low, down from 42.8 to 42.6 in...
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Australia PMI composite fell to 27-mth low at 46.4, but no real signs of hard landing
Australia’s manufacturing and services sectors showed continued contraction in November, reaching multi-month lows. PMI Manufacturing...