The Chinese yuan is rallying against multiple currencies to kick off the trading week, buoyed by industrial production and retail sales beating market expectations. With the first phase of a comprehensive US-China trade agreement established, global financial markets have been extended some certainty, which is good news for the worldâs second-largest economy and its currency. According to the National Bureau of Statistics, industrial output surged 6.2% year-on-year in November, up … “Chinese Yuan Rallies As Industrial Output, Retail Sales Beat Forecasts”
Author: admin_mm
Pound Rallies Then Falls on Weak PMIs and Profit Taking
The pound today rallied briefly against the US dollar before falling to its daily lows as traders continued to take profits from the post-election rally. The GBP/USD currency pair was also affected by the weak PMI data released by Markit Economics in the London session and Brexit optimism. The GBP/USD currency pair today rallied to a high of 1.3422 before falling to a low of … “Pound Rallies Then Falls on Weak PMIs and Profit Taking”
Euro-zone PMIs may be lose-lose for EUR/USD – Three scenarios
Flash euro-zone PMIs are set to show an improvement in November. High expectations may lead to a downfall for EUR/USD. Only a substantial surprise has room to lift the common currency. ECB’s Lagarde’s speech may steal the show. Improvements are all fronts – that is what economists expect from Markit’s flash Purchasing Managers’ Indexes for November. … “Euro-zone PMIs may be lose-lose for EUR/USD – Three scenarios”
EURJPY In For Further Uspide Within an Elliott Wave Leading Diagonal – Elliott Wave analysis
It seems that a probable Elliott wave leading diagonal can be in progress from the lows on EURJPY with a price ending a fourth wave correction, so be aware of one more leg higher, before a temporary A-B-C correction starts developing. EURJPY, daily On the 4h chart of EURJPY, the pair made a strong turn … “EURJPY In For Further Uspide Within an Elliott Wave Leading Diagonal – Elliott Wave analysis”
Scandinavian Capital Markets Launches cTrader for Retail and Institutional Traders
Scandinavian Capital Markets is proud to announce a further expansion of their trading platform offering, with the addition of multi-award-winning cTrader, available to both their Retail and Institutional Clients. Trusted by millions of traders worldwide and supported by a large community of partners, cTrader incorporates the most advanced tools, offering state-of-the-art technology for fast entry … “Scandinavian Capital Markets Launches cTrader for Retail and Institutional Traders”
USD/JPY may extend its falls as global worries persist
USD/JPY has been mixed amid trade and central bank headlines. The Federal Reserve’s minutes stand out. Mid-November’s daily chart continues painting a bullish picture. The FX Poll is showing further falls for the currency pair in the medium and long terms. President Donald Trump’s bashing of China has boosted the safe-haven yen, while the Federal Reserve refrained … “USD/JPY may extend its falls as global worries persist”
GBP/USD: Is Boris-related bump justified? Every poll matters
GBP/USD has been rising alongside the Conservatives’ reelection chances. Opinion polls, trade headlines, and further Fed news are set to determine the next cable moves. Mid-November’s daily chart is pointing to falling momentum for the pound. Conservatives are consolidating their lead – that pound-positive development has overshadowed all other events, including poor UK figures. The run-up … “GBP/USD: Is Boris-related bump justified? Every poll matters”
Oil: Interesting Elliott Wave Triangle pattern Points Lower
Crude oil jumped towards 63.00 zones and tested the upper side of a 2019 trading range where upside was limited, and a new leg lower started developing. We labeled that same leg down as wave D, as part of a bigger complex correction, which fully developed and pushed the price into the final leg E … “Oil: Interesting Elliott Wave Triangle pattern Points Lower”
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Five points on trading fundamentals [Webinar]
In this webinar, we discuss the aspects of trading currencies in around news events by understanding what is priced in, identifying currency strength and falls breaks, and more. Even if you are a technical trader, being aware of economic indicators, trends, politics, and everything that we fundamental analysts are focused on will help you get … “Five points on trading fundamentals [Webinar]”
EUR/USD may struggle with Draghi’s last ECB decision
ECB President Draghi is set to defend his legacy in his last rate decision. The bank is unlikely to make policy changes at this juncture. EUR/USD may struggle if Draghi expresses pessimism. “The ECB is ready to do whatever it takes to preserve the euro.” These famous words by the euro, President of the ECB, are the centerpiece of his … “EUR/USD may struggle with Draghi’s last ECB decision”