Frank Walbaum
FX Strategies.Asia
Important news for the day
- Tue, 17th, 14:30 CET CA Consumer prices index.
PMI data
Yesterday’ PMI data showed a mixed bag. Manufacturing data from France, Germany, the UK and US have been weaker while the services sector continues to show upside momentum, similarly to recent inflation data. Headwinds might hence follow form the economies in general as manufacturing data continues to disappoint. The figures remain below the 50- level, which technically would mean contraction. Further uncertainty might come from the Trump administration starting in January next year.
Market talk
Markets mostly remain in a sideways pattern. The Dollar remains differently against most other currencies. As it is trading stronger against the Aussi it loses momentum against the Pound. The positive claimant count change from the UK might be of positive impact here. Precious metals might offer further downside momentum ahead. Gold and Silver have both printed a bearish candlestick pattern based on the weekly charts offering potential negative momentum. Also indices show a mixed picture: The S&P 500 might weaken slightly and also the German DAX is heading lower alongside the Dw Jones index. The Nasdaq on the other hand keeps pushing to higher levels.
Tendencies in the markets
- Equities mixed, USD stronger, cryptos mixed, oil sideways, Silver weak, Gold weak, JPY weak.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This Webinar is purely for information purposes. Transactions or orders are for illustrative purposes only and should not be copied by traders. The content has been carefully compiled. However, no liability can be accepted by FX Strategies. Asia and under no circumstances should this material replace a consultation with a certified financial, investment or investment advisor in terms of their accuracy. Further information on our risk warnings can be found on our website under fxstrategies.asia.
Recommended Content
Editors’ Picks
EUR/USD holds losses below 1.0500 ahead of US data
EUR/USD remains on the back foot below 1.0500 in the European session on Tuesday. A negative shift in risk sentiment revives the haven demand for the US Dollar, while the mixed sentiment data from Germany hurts the Euro, weighing down on the pair. Focus shifts to top-tier US data.
GBP/USD recovers toward 1.2700 after UK jobs data
GBP/USD recovers toward 1.2700 in the European morning on Tuesday. The data from the UK showed that the ILO Unemployment Rate held steady at 4.3% in the three months to October, while the annual wage inflation climbed to 5.2%, helping Pound Sterling hold its ground.
Gold price remains confined in a range ahead of the crucial Fed decision on Wednesday
Gold price struggles to gain any meaningful traction and remains confined in a narrow range. Expectations for a less dovish Fed and elevated US bond yields cap the non-yielding XAU/USD. Geopolitical risks lend support to the safe-haven precious metal ahead of the FOMC meeting.
Ripple reveals official launch for RLUSD, XRP eyes new all-time high at $4.75
Ripple confirmed in a press release on Monday that its RLUSD stablecoin will officially launch on Tuesday across exchanges, including MoonPay, Uphold, CoinMENA, Bitso and ArchaxEx. Bullish sentiments surrounding the launch could help XRP overcome the $2.58 and $2.92 resistance levels.
Will the Fed cut interest rates again and why is the dot plot important Premium
The Fed is expected to cut interest rates on Wednesday for the third consecutive meeting. Every time the Fed decides on rates, it is a crucial event as it directly affects families and businesses in the United States. Moreover, the Fed’s last meeting of the year will also be important because it will provide the outlook for what it expects to do in 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.