The Services PMI is a closely watched economic indicator and has a considerable impact on the Pound. The Market Impact Tool shows trading opportunities in both upside and downside surprises on this event. The GBPUSD moved, on average, 8 pips in the 15 minutes after the data release and 30 pips in the following 4 … “GBP/USD: Trading the UK Services PMI”
Month: July 2018
British Pound Rallies Higher on Upbeat UK Construction PMI Data
The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations. The GBP/USD currency pair today rallied from a low of 1.3114 to a high of 1.3207, but was on a downtrend at the time of writing. The currency pair rallied higher after the release of the Markit/CIPS UK … “British Pound Rallies Higher on Upbeat UK Construction PMI Data”
Trade wars: what you need to know ahead of Friday’s tariffs tirade
After a few initial clashes, the trade war is moving on up. Stocks and currencies are paying more attention, and things could escalate. Here is everything you need to know to get ready in our first weekly tranche of Trade War from the Trenches. In the past few months, the US imposed a tariff of … “Trade wars: what you need to know ahead of Friday’s tariffs tirade”
Trade wars: what you need to know ahead of Friday’s tariffs tirade
After a few initial clashes, the trade war is moving on up. Stocks and currencies are paying more attention, and things could escalate. Here is everything you need to know to get ready in our first weekly tranche of Trade War from the Trenches. In the past few months, the US imposed a tariff of … “Trade wars: what you need to know ahead of Friday’s tariffs tirade”
Leverate China GM Andy Zhang moving on to pursue personal interests
After 3.5 years in the company, Andy Zhang, General Manager of Leverate’s China branch in Shanghai, is leaving his position to pursue a new path in his life. Mr. Zhang was the first Leverate employee in China recruited by Itai Damti, one of Leverate’s founders. Andy had a key role in establishing Leverate’s foothold in … “Leverate China GM Andy Zhang moving on to pursue personal interests”
US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears
The US dollar emerged as the strongest currency on the Forex market today after trade war tensions continued to escalate as US President Donald Trump chose the European Union as the new target for his criticism of unfair trade deals. While previously Trump was chastising mostly China, he said in an interview yesterday: The European Union is possibly as bad as China, just smaller. It’s terrible what they do to us. But the mean … “US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears”
Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases
The euro today traded lower against the US dollar amid the deepening of the political crisis in Germany as the Interior Minister Horst Seehofer threatened to resign. The release of mixed Eurozone PMIs by IHS Markit in the early European session could not reverse the pair’s downtrend as the US dollar gained ground over the single currency. The EUR/USD currency pair today declined from an opening high of 1.1678 to a low of 1.1596 and was on a downtrend at the time of writing. The currency … “Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases”
Good Manufacturing PMI Unable to Prevent Sterling from Falling
The Great Britain pound fell today despite the manufacturing data that was above expectations. Traders were still concerned that the United Kingdom and the European Union may not reach a Brexit deal before the UK officially severs ties with the EU. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose a bit to 54.4 in June from 54.3 in May (revised negatively from the original reading of 54.4). … “Good Manufacturing PMI Unable to Prevent Sterling from Falling”
Australian Dollar Trades Weakest on Monday
The Australian dollar was the weakest currency on the Forex market during the current trading session, falling against all other most-traded rivals. The most likely reason for that was the persisting fears of trade wars between the United States and their trading partners. Macroeconomic releases on the weekend and Monday were mixed, giving the currency no reason to go in one direction or the other. The Manufacturing Index released by Australia Industry Group fell from 57.5 … “Australian Dollar Trades Weakest on Monday”
Japanese Yen Strong Despite Mixed Tankan Survey
The Japanese yen was rather strong today despite a mixed Tankan survey. The currency fell against the US dollar, though, which was also very strong on Monday. The Tankan Manufacturing Index fell from 24 in the March quarter to 21 in the June quarter, below the average forecast of 22. At the same time, the Tankan Non-Manufacturing Index rose from 23 to 24, whereas experts had predicted no change. Meanwhile, trade wars … “Japanese Yen Strong Despite Mixed Tankan Survey”