Risk assets began the European trading session today with a more dampened tone. The meeting between President Trump and North Korean Leader Kim Jong-Un failed to produce any results. The summit, which took place on the neutral ground of Hanoi, Vietnam, had been keenly anticipated following the first historic meeting between the two leaders in
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The first day of March is starting with a bang in terms of Japanese data! A series of important statistics will be published during the early Asian session. With the escalating tensions in the Indian subcontinent, this could be interesting for JPY pairs. Let’s go over what we could expect and how the market might
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Monthly: We have broken the wedge formation to the downside. The pattern has a measured move target of 0.8303. A bearish Engulfing candle was posted in January. The corrective rally was sold into in front of the reverse trend line resistance at 0.8901 Weekly:  Rallies close to the 61.8% of 0.9044 (from 0.9606-0.7621) Fibonacci retracement
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Gold down $9 Gold broke through last week’s low of $1321 as it sinks to a session low and the worst since February 15. The US dollar is getting a broad lift from rising Treasury yields and month-end flows. Gold isn’t responding to turmoil in India-Pakistan and is at the tail end of a long
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According to preliminary figures for EUR futures markets from CME Group, investors added around 1.3K contracts to their open interest positions on Wednesday vs. Tuesday’s final 528,376 contracts. On the other hand, volume contracted by more than 48k contracts. EUR/USD still targets 1.1400 and above Yesterday’s negative performance in EUR/USD was on the back of
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Manufacturing PMI at 3-year low More signs of how the Chinese economy is facing headwinds was evidenced by a further weakening in China’s PMI readings in February. The manufacturing PMI slid to 49.2, the lowest since February 2016, and the third month in a row it has been below to expansion/contraction threshold of 50. The
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What to expect from the economic growth numbers from the US due 28 February 2019  Via Citi: Q4 growth is setting up to be very strong an unexpected narrowing in the trade balance in November  Our Q4-18 GDP tracker currently stands at 2.5% However, Q1 growth is likely to slow as tighter financial conditions and
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Daily Markets Broadcast 2019-02-28 Wall Street slumbers with lack of trade talk progress Wall Street ended mixed yesterday, rebounding from intra-day lows for a nondescript close. US top trade negotiator said China buying more US goods is not enough, need to see structural changes. China’s PMI readings fall in February. US30USD Daily Chart Source: OANDA
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Prepared by Jeff Halley, Senior Market Analyst You don’t bring a MIG-21 to a gunfight  Geopolitical tensions ratcheted higher yesterday with Pakistan F-16 fighters shooting down an Indian MIG-21 over Kashmir and capturing the pilot after the Pakistan aircraft had themselves crossed into Indian airspace and conducted retaliatory airstrikes. It’s likely India was caught off
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Australian Dollar, China Purchasing Managers Index, Talking Points: A key gauge of China’s manufacturing health was weak for yet another month AUD/USD reversed sharply in the aftermath Hopes of a trade settlement between China and the US may have limited damage First-quarter technical and fundamental forecasts from the DailyFX analysts are out now. The Australian
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