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Oil prices fell on Monday on mixed Chinese economic data and signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived. Chinese industrial output and retail data topped expectations, but overall figures showed the country’s slowest quarterly economic growth in decades, dimming the outlook for crude demand.
USD/CHF touches its lowest level since 1 July The dollar is easing just a fair bit with EUR/USD up to a session high of 1.1284 (though trading in a 20 pips range) and USD/JPY also slipping back to 107.80 levels from around 108.05 earlier. In turn, we’re also seeing USD/CHF fall back to the 50.0
Larry Culp, CEO, General Electric Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Monday: UBS downgraded GE to ‘neutral’ from ‘buy’ UBS downgraded the stock citing valuation, a decline in interest rates, and ongoing power market weakness. “We are downgrading GE to Neutral, as a notable decline in interest rates and
USD/CAD is trading near daily highs near 1.3040. The levels to beat for bulls are 1.3050 and 1.3080/1.3100. USD/CAD daily chart USD/CAD is trading near multi-month lows as the market is trading below the main daily simple moving averages (DSMAs). USD/CAD 4-hour chart The market is trading just above 1.3016 support and below
S&P 500 closed Friday at a record The party is set to continue in US stocks, albeit at a more-subdued pace. The S&P 500 closed 14 points higher on Friday to a record 3014, including a finish at the highs of the day. The momentum is set to continue with futures pointing to a 5-point
Esta semana será importante para la libra esterlina por el lado económico. Mientras los noticieros se enfocan en quién será el próximo primer ministro y qué significa para Brexit, no podemos olvidarnos de los datos económicos. El primero de tres eventos importantes será mañana con los datos de empleo. El mercado se enfoca en el
MARKET DEVELOPMENT – GBP Selling Resumes, NZD Outperforms, Silver Breaks Key Level DailyFX 2019 FX Trading Forecasts NZD / AUD: Overnight, Chinese growth figures showed Q2 GDP at 6.2%, down from 6.4%, marking the weakest quarterly reading since 1992. Consequently, this raises scope for further stimulus measures from the Chinese government, which in turn has
With lawmakers on summer recess and the Bank of Canada’s latest decision in the can, attention turns to the economic numbers for signs of whether the recent momentum will continue, and what it might mean for interest rates. “Recent Canadian developments stand in sharp contrast to events in much of the rest of the world,”
USD Still Weighed on By Dovish FOMC Minutes The US dollar has traded lower over the European morning on Monday. The greenback started out well, trading higher, but initial gains were quickly reversed heading towards the US session. With no key domestic data today, action is likely to be subdued as we enter the summer
This week is going to be important for the pound on an economic front. While the headlines continue to focus on the Tory leadership contest and what that means for Brexit, we can’t forget about key economic data. The first of the three major events coming up is tomorrow’s employment data. The UK claimant change
Aside from the release of relatively weak, although entirely predictable Chinese GDP data which appeared to have little to no impact upon markets, today is currently dominated by strength in the antipodean currencies, particularly the New Zealand Dollar. In fact, all the commodity currencies – the New Zealand, Australian, and Canadian Dollars – are showing
The 100 million youth entering the African labor market will be unemployed by 2030 if current trends continue , according to the African Development Bank. In India, unemployment is also at record highs. Youth comprise more than 10% of the unemployed in India, and almost 20% in Kenya and Nigeria. These rates tend to be
EUR/GBP recovers ground lost and approaches 0.9000. EUR remains bid on USD-weakness; pushes the cross higher. UK jobs, ZEW survey next of relevance in the docket on Tuesday. The continuation of the buying interest around the single currency is lending fresh wings to EUR/GBP to the 0.8980 region. EUR/GBP now looks to UK, EMU The
The British Trade Secretary Liam Fox said on Monday that a post-Brexit trade agreement with the United States may take time as it’s not possible to reach a deal before the Brexit happens. Fox warned that potential complications linked to federal government issues may cause problems, despite this being a top concern on Boris Johnson’s
The firm joins in the growing chorus of those expecting the ECB to cut its deposit rate facility in September In a report by the firm’s economist, Anatoli Annenkov, they now expect the ECB to cut its deposit rate by 10 bps in September after introducing a “downward bias” to its forward guidance at the
Sterling (GBPUSD) Price, Chart and Analysis Jobs, wages and inflation data all released in the first of the week. Conservative Party leadership contest enters its final week. Brand New Q3 2019 GBP and USD Forecasts andTop Trading Opportunities GBPUSD Likely to be Capped Around 1.2630-1.2650 Last week’s modest rebound in GBPUSD from asix-month low of
Nomura recommends a short in EUR/GBP after the pound’s recent losing streak against the single currency ForexLive The pound has struggled against the euro since the middle of May as EUR/GBP bounced from around 0.8500 to test the 0.9000 handle over the past few sessions. The latter is proving to be a bit of a