The Euro (EUR) could break the significant support at 1.0450; the next technical target at 1.0400 is likely out of reach for the time being.
Feed from Fxstreet.com
EUR/USD: The level to monitor is 1.0400– UOB Group
read more
FOREX NEWS & BLOG
China Shifts Away from US Treasuries. Forecast as of 19.11.2024
The speculation that China is selling US Treasuries and Europe is increasing exports to the US in anticipation of trade wars has prompted EURUSD bears to lock in profits. Let’s discuss this topic and make a trading plan. Major Takeaways Japan and China are getting rid of Treasuries at a record pace. Europe is increasing exports to the US in expectation of new tariffs. Washington is not afraid of China’s retaliation. The EURUSD pair’s upward pullback or a return below 1.0545 are reasons to sell. Weekly US Dollar Fundamental Forecast It is often beneficial to examine historical data to gain… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
Mexican Peso consolidates ahead of GDP, inflation data
The Mexican Peso (MXN) trades mild and mixed in its most-traded pairs as the week draws to a close, with idiosyncratic factors impacting each one – the US Dollar (USD), Euro (EUR) and Pound Sterling (GBP) – differently.
Feed from Fxstreet.com
Stocks stumble in European morning trade
Equities have now taken a turn lower on the session with European indices seeing red for the most part now. The DAX is now down 0.5% and CAC 40 down 0.8% after the more positive start to the day here. Meanwhile, US futures have also dipped lower with S&P 500 futures down 0.4% on the day.
Besides the softer PMI data from the euro area and UK, there’s not much else to drive the latest changes in equities. And even with traders now saying that the ECB might very well have to move quicker in December, it’s not providing much comfort for European stocks.
The drop lower isn’t just limited to tech shares as well. Dow futures are also now down by 0.3% on the day.
And the more cautious developments here are just adding to the case for EUR/CHF to potentially break to fresh record lows, with the pair already down 0.4% to 0.9250 currently. The low right after the PMI data earlier was 0.9203
This article was written by Justin Low at www.forexlive.com.
Feed from Forexlive.com
AUD/CAD Price Forecast 19th November 2024
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straight forward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower […]
Feed from Forexmt4indicators.com
USDCHF Technical Analysis – The USD gets a bid on weak Eurozone PMIs
Fundamental
Overview
Overall, we’ve seen a
rangebound price action in the US Dollar this week as the market’s pricing
remained largely unchanged at three rate cuts by the end of 2025 for the Fed.
This morning, we saw some
strong bids in the greenback due to the weak Eurozone PMIs as the flows there spilled
over to other markets.
On the CHF side, nothing
has changed as the market continues to price a 72% chance of a 25 bps cut in
December and a total of 70 bps of easing by the end of 2025.
USDCHF
Technical Analysis – Daily Timeframe
On the daily chart, we can
see that USDCHF spiked back to the recent high around the 0.8915 level following
the weak Eurozone PMIs. From a risk management perspective, the buyers will
have a better risk to reward setup around the major upward trendline to position for a rally into the 0.9050
level next. The sellers, on the other hand, will want to see the price breaking
below the trendline to start targeting new lows.
USDCHF Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can
see more clearly the upward spike this morning into the recent highs. This is
where we can expect the sellers to step in with a defined risk above the high
to position for a drop into the major trendline. The buyers, on the other hand,
will want to see the price breaking higher to increase the bullish bets into
the 0.9050 level next.
USDCHF Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can
see that we now have a minor upward trendline defining the current bullish
momentum into the high. If we were to get a pullback, the buyers will likely
lean on it to position for a break above the recent highs. The sellers, on the
other hand, will look for a break lower to increase the bearish bets into the
major trendline. The red lines define the average daily range for today.
Upcoming
Catalysts
Today we conclude the week with the US PMIs.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Feed from Forexlive.com
AUD/USD Price Forecast 22th November 2024
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straight forward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower […]
Feed from Forexmt4indicators.com
Forex Takes Trump’s Statements Too Seriously. Forecast as of 22.11.2024
Donald Trump’s selection of nominees for his administration suggests that the proposed tariffs on trade will not be as significant as previously indicated by the President-elect. Will a more measured approach to protectionism lead to a rebound in the EURUSD exchange rate? Let’s discuss this topic and make a trading plan. Major Takeaways The stock market bets on less US protectionism. The Forex market fears trade wars. The divergence in economic growth and monetary policy will intensify. The EURUSD pair continues to plummet to 1.035. Weekly US Dollar Fundamental Forecast The fiscal stimulus and trade duties proposed by Donald Trump… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
UK November flash services PMI 50.0 vs 52.0 expected
- Services PMI 50.0 vs 52.0 expected and 52.0 prior.
- Manufacturing PMI 48.6 vs 50.0 expected and 49.9 prior.
- Composite PMI 49.9 vs 51.8 expected and 51.8 prior.
Key Findings:
- Flash UK PMI Composite Output Index(1)
: 49.9 (Oct: 51.8).
13-month low. - Flash UK Services PMI Business Activity Index (2) : 50.0
(Oct: 52.0). 13-month low. - Flash UK Manufacturing Output Index (3) : 49.3 (Oct: 50.3).
9-month low. - Flash UK Manufacturing PMI (4) : 48.6 (Oct: 49.9). 9-month
low.
Comment:
Commenting on the flash PMI data, Chris Williamson,
Chief Business Economist at S&P Global Market
Intelligence said:
“The first survey on the health of the economy after the
Budget makes for gloomy reading. Businesses have
reported falling output for the first time in just over a
year while employment has now been cut for two
consecutive months. Although only marginal, the
downturns in output and hiring represent marked
contrasts to the robust growth rates seen back in the
summer and are accompanied by deepening concern
about prospects for the year ahead.
Business optimism has slumped sharply since the
General Election, dropping further in November to hit the
lowest since late 2022. Companies are giving a clear ‘thumbs down’ to the policies announced in the Budget,
especially the planned increase in employers’ National
Insurance contributions.
The November PMI is indicative of the economy slipping
into a modest decline, with GDP dropping at a 0.1%
quarterly rate, but the loss of confidence hints at worse
to come – including further job losses –unless sentiment
revives.
Encouragingly, inflation pressures have moderated
further, with selling prices rising at the slowest rate seen
this side of the pandemic. However, still-elevated rates
of wage-related price and cost growth are being
recorded in the service sector, potentially limiting scope
for rate cuts among the more hawkish policymakers.”
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Feed from Forexlive.com
Capitalize Announcing Prop Trading with One-Step Evaluation Program for Aspiring Traders
Capitalize, one of the leading proprietary trading firms,
has announced their “One-Step Evaluation” program that allows easier
access to trading opportunities than ever before. As part of this user-friendly
process, traders can showcase their talent and get funding in just one
single-stage evaluation, unlike their competitors’ lengthy and multilevel
examination processes.
By lowering or removing many of the traditional barriers to
funding, Capitalize can let traders focus on honing their trading strategy,
knowing that their route to full funding will be as smooth as possible. The
simplified funding process applies to traders of all instruments including
forex, equities, and other digital assets, allowing them instant access to
capital without undue holdups. Candidate traders therefore can become funded
professionals more quickly and more effortlessly than before.
Customer Support
Prop Capitalize is also committed to the best customer
support, which they consider an essential pillar in the trading experience.
Traders can be assured that a supportive team is available to answer any
questions about technical issues, account inquiries, and even to walk them
through the platform to ensure they have whatever they may need to trade
optimally.
Prop Trading with Capitalize
Proprietary trading has gained favor where traders seek to
deploy professional capital without financial exposure on their part. An option
against retail trading, Capitalize will not require a trader to risk their
money. Instead, it believes in talent and potential. Some of the main tenets of
Capitalize’s model are:
- Risk Mitigation: Traders use firm capital instead of personal funds. The firm covers the losses.
- Earning Potential: Competitive potential profit-sharing arrangements set a potential earnings for the trader.
- Competitive Conditions: Getting access to cutting-edge trading conditions to support the best performance.
- No Hidden Costs: Accessing trading capital directly and with no additional costs or hidden fees.
- One-Step Evaluation: Fast-track to funded trading and simplify results-focused assessment.
These advantages make Capitalize a possible choice for
traders who are in search of professional support and growth potential in
financial markets.
Capitalize, powered by ThinkMarkets, presents new and
seasoned traders with superior infrastructure and global outreach. Its
attentive attitude toward customers and transparent, trader-oriented conditions
make it one of the leading choices in the prop trading world.
About Capitalize
Capitalize (https://prop-capitalize.com) is a
ThinkMarkets-powered prop trading company focusing on supportive programs and
capital funding to help traders succeed. It is very accessible, with engaged
and skilled customer support, thereby opening up the trading world to skilled
funded traders.
Capitalize is an innovative yet simple funding mechanism for
intrepid traders looking to access the world of finance. Capitalize offers a
remarkably fast and straightforward funding solution, eliminating the usual
complexities and delays. Designed for smart traders, it provides a seamless and
efficient way to access financial markets, allowing users to focus on trading
without unnecessary hurdles. Its simplicity and speed make it a possible choice
for those who value time and efficiency in pursuing their trading goals.
This article was written by FL Contributors at www.forexlive.com.
Feed from Forexlive.com
CMC Markets Wrote Off £2.8M Investment in Blockchain Firm Strike X
CMC Markets (LON: CMCX), known for its CFD offerings, has written off its £2.8 million investment in Strike X, a customer-centric blockchain solutions business it acquired in June 2023.
CMC’s Failed Entry into Blockchain
The London-headquartered CFDs broker holds a 33% stake in Strike X Technologies, which, at the time of the investment, marked its entrance into the blockchain space. However, the broker has now concluded that the investment amount is not recoverable, writing off the full carrying value.
The broker also noted that Strike X is actively seeking third-party capital through one of its subsidiaries to improve its financial position. It added: “Despite the impairment, the Group continues to support Strike X and its strategic objectives.”
B2B Revenue from Revolut Is “Not Significant”
CMC Markets further confirmed it has begun onboarding clients through its partnership with Revolut, which was established last June. Revolut’s CFD clients are being onboarded onto its new platform, Revolut Invest, which has been launched in three European countries: the Czech Republic, Denmark, and Greece.
However, the brokerage also highlighted that the impact of the Revolut deal on its B2B revenue is “not significant” due to limited geographical coverage. Nonetheless, the British fintech firm plans to expand its CFD offerings across the European Union and has obtained a new UK licence to offer financial derivatives.
“This partnership presents an exciting opportunity for future revenue growth,” added CMC, “as well as increased operational leverage given the limited incremental costs required to service these customers.”
Finance Magnates earlier discussed with two CMC executives how the Revolut deal materialised.
According to its latest financials, CMC Markets generated £177.4 million in revenue between April and September, representing a yearly gain of 45% but a decline of 15.6% compared to the previous six months.
Despite CMC’s dominance in the retail space, it is now significantly strengthening its B2B presence. In the first six months of the current fiscal year, B2B services contributed 28% of its trading volume, compared to 31% and 35% in the two halves of the previous fiscal year.
This article was written by Arnab Shome at www.financemagnates.com.
Feed from Financemagnates.com
Eurozone HCOB Composite PMI falls to 48.1 in November vs. 50 expected
Business activity in the Eurozone private sector contracted in early November, with the preliminary HCOB Composite Purchasing Managers Index (PMI) falling to 48.1 from 50 in October.
Feed from Fxstreet.com