Copper: Metal Pulls Back on Profit-Taking/News after 6% Advance Last Week
Copper was sharply lower on Monday as traders took profit after strong rally on last Thu/Fri, when the metal price rose over 6% on optimism over easing trading tensions between the US and China. Release of China’s Oct services PMI,...
U.S. Non-Manufacturing Activity Pulls Back from Record High in October
After rising to an all-time high in September, the Institute for Supply Management’s (ISM) non-manufacturing index backed off in October to 60.3. Though lower, the headline print still surpassed consensus forecast for a larger pullback to 59.1. The details of...
Surging Pound Shrugs Off Soft Services PMI
GBP/USD has started the week with solid gains. In Monday’s North American session, the pair is trading at 1.3022, up 0.40% on the day. On the release front, Services PMI dipped to 52.2, shy of the estimate of 53.4 points....
JP Morgan is selling its trading software to investors in a glimpse of Wall Street’s tech future
J.P. Morgan Chase is letting clients tap crucial software used by its own trading desks for the first time. At the heart of the world’s biggest investment bank is an all-seeing program that allows its traders and salespeople to value...
EUR/USD Retreats on ECB, Italy and Soft Data ahead of US Mid-term Elections
The EUR/USD’s sharp rebound from long-term support at 1.13 came to an abrupt halt on Friday and the weakness has persisted at the start of this week, although so far, we haven’t seen any significant follow-through. The single currency came...
Canadian Dollar Trading Sideways, US Services Report Next
The Canadian dollar has edged lower in the Monday session. Currently, USD/CAD is trading at 1.3098, down 0.08% on the day. On the release front, there are no Canadian indicators. In the U.S, ISM Non-Manufacturing PMI is expected to drop...
Sterling Firm Despite Weaker Data and Brexit News, Swiss Franc Weakest
Swiss Franc is clearly the weakest one for today so far. In particular selloff intensifies somewhat in European session. Weakness of the Franc also drags down Euro, which is trading as the second weakest. On the other hand, Sterling is...
Fixing trade war will need more than talks between Trump and Xi, WTO’s Azevedo says
Trade tensions can’t be fixed by talks between Washington and Beijing alone, according to the World Trade organization (WTO). President Donald Trump has long promised to redress a trade imbalance between China and the U.S. and since gaining power has...
USDTRY Outlook: Further Rise In Inflation Could Undermine Lira’s Bulls
The US dollar trades slightly higher against Turkish lira on Monday, as disappointing results of Turkey’s Oct inflation raise concerns. The lira advanced strongly after CBRT’s massive rate hike in September, gaining nearly 10% against its US counterpart, regaining confidence...
USDJPY Struhhling With 113.37 Resistance Level
The US dollar is struggling to break above the 113.37 resistance level against the Japanese yen currency, as traders remain cautious ahead of the US mid-term elections. The overall sentiment surrounding the USDJPY pair is bullish while price trades above...
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