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A ForexTrading.TV Technical Analysis Video Alert for EURCHF
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EUR/USD extends losses to 1.0550 as focus shifts to US ISM PMI
EUR/USD keeps falling to test 1.0500 in the European session on Monday. The pair is dragged down by dovish ECB-speak, French political woes and a firmer US Dollar following Trump tariffs threat on BRICS-fuelled flight to safety. Investors now await US ISM Manufacturing PMI data.
GBP/USD keeps the red near 1.2700 on stronger US Dollar
GBP/USD holds sizeable losses near 1.2700 in European trading on Monday. The pair's downside is sponsored by a goodish pickup in the haven demand for the US Dollar, as traders remain wary over the latest Trump tariffs threat on BRICS nations. US ISM PMI is next in focus.
Gold price seems vulnerable on broad-based USD strength
Gold price remains heavily offered tone through the early European session and is currently placed near the lower end of its daily range, around the $2,629 region. This marks the first day of a negative move in the previous five and is sponsored by a combination of factors.
The week ahead: Payrolls take centre stage, as French government poised to collapse
At the start of this week, the focus is likely to be on France. On Sunday, Marine Le Pen said that her party’s talks with the government led by Michel Barnier, had broken down, which paves the way for a no-confidence vote in the technocratic government that has no majority in Parliament.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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