U.S. Manufacturing Activity Gives Back January Gains
The Institute for Supply Management (ISM) manufacturing index shed 2.4 percentage points to 54.2 in February, giving back January’s gains. Markets were expecting a relatively flat reading. Aside from inventories (+0.6 points to 53.4), four of the five subcomponents that...
Weekly Focus – How Will ECB Respond to Economic Weakness?
This publication has been prepared by Danske Markets for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents...
Otto Warmbier’s parents blame Kim Jong Un for son’s death, push back on Trump
The parents of Otto Warmbier, who died of injuries sustained in prison in North Korea, issued a stinging rebuke to President Donald Trump for saying he believed North Korean leader Kim Jong Un’s claim that he was unaware of the...
ISM manufacturing index hits lowest level since November 2016
U.S. manufacturing activity expanded at a slower-than-expected pace last month and reached its lowest level in more than two years, according to data released Friday. The ISM Manufacturing Index slipped to 54.2 in February from 56.6 in January, the Institute...
Wells Fargo officials make record $240 million settlement over bogus accounts
Wells Fargo officials have reached a record $240 million settlement with U.S. shareholders over the creation by bank employees of millions of unauthorized customer accounts. The settlement disclosed late on Thursday requires insurers for 20 current and former Wells Fargo...
EURGBP Breaks Long-Term Sideways Range to the Downside
EURGBP fell to a fresh 21-month low of 0.8530 earlier this week, violating to the downside the sideways range it had been trading in since late 2017, with an upper bound at 0.9100 and a lower bound near 0.8615. The...
USD/CAD Outlook: Loonie Tumbles after Weak Canada GDP Data
The Canadian dollar fell almost a hundred pips against its US counterpart on Friday, pressured by downbeat Canada’s GDP data. Canada’s economy grew 0.4% y/y in Q4, decelerating significantly from Q3 growth of 2%.Monthly figure also disappointed expectations (Dec m/m...
Markets Cheer Positive News from China, Yen Drops Further
The financial markets are back in full risk on mode today. China Shanghai SSE jumped 1.8% to 2994.01, just missed 3000 handle. Optimism of bottoming in the slowdown is a factor as Caixin PMI manufacturing rebounded to 49.9, just missed...
WTI OIL Outlook: Strong Fundamentals Continue to Underpin Oil Price for Final Break above $57.79/85 Highs
WTI oil cracked previous high at $57.79 (22 Feb) and posted new, marginally higher high at $57.85 on Friday, but was so far unable to sustain break. The price holds in green for the fourth straight day, as solid US...
The Importance of Liquidity in Forex Trading
As a trader gets started in forex trading, one of the first advantages they’re likely to come across is how much liquidity the forex market offers over other markets. The latest figures are roughly $5.1 trillion in daily traded volume...
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