UK PMI figures for December entirely missed the mark, printing below Wall Street forecasts and falling back but remaining above the 50.0 watermark for contraction expectations.
Feed from Fxstreet.com
Happy New Year to new and regular readers of our work. We primarily use the Elliott Wave (EW) to forecast the financial markets—in this case, the SP500 (SPX)—most likely paths forward.
Feed from Fxstreet.com
ICYMI – reports Monday US time on OPEC oil supply dipping a touch in December. Info via Bloomberg (gated).
OPEC’s crude oil production declined in December, driven primarily by the UAE’s efforts to implement supply cuts aimed at stabilizing global oil markets.
Output fell by 120,000 barrels per day (bpd) to 27.05 million bpd, with modest increases in Libya and Nigeria offset by declines in Iran and Kuwait, according to a Bloomberg survey.
The background to this is that over recent years OPEC and its allies, led by Saudi Arabia, have limited production to support prices amid weak demand and abundant U.S. supplies. In their latest meeting, the coalition delayed plans to restore output.
While most members adhere to their quotas, data suggests the UAE has occasionally exceeded its limits. In December, the UAE reduced oil exports to an 18-month low, reflecting efforts to align with OPEC’s goals. State-run Abu Dhabi National Oil Company (ADNOC) cut crude allocations for some Asian buyers in early 2025, and Abu Dhabi deferred a planned 300,000 bpd production increase from January to April. Despite these measures, Bloomberg estimates that the UAE’s December output of 3.2 million bpd remained significantly above its agreed quota.
**
Brent update:
Do candlestick folkj want to weigh in on that recent engulfing bar?
This article was written by Eamonn Sheridan at www.forexlive.com.
Feed from Forexlive.com
Financial
technology provider Brokeree Solutions has implemented its Social Trading
system with Spotware’s cTrader platform, expanding its multi-platform trading
capabilities. The integration enables cross-platform signal copying between
MetaTrader 4, MetaTrader 5, and cTrader servers.
Brokeree Integrates Social
Trading Solution with cTrader Platform
The
technical implementation supports plug-and-play deployment without requiring
custom development work. The system maintains compatibility with cTrader’s
platform-specific features while facilitating precise trading signal
replication across different platforms.
“This
integration marks an important milestone, as it extends our reach and provides
brokers with an innovative, flexible tool that allows them to offer
multi-platform trading services to a wider audience,” said Andrey Kamyshanov,
Co-founder and Managing Partner at Brokeree Solutions.
Brokeree’s
cross-server functionality allows brokers to configure trading parameters and
risk management settings. Additional features include a mobile application and
ratings system for organizing trading competitions through brokers’ websites.
“cTrader is
the only Open Trading Platform™ offering more than 100 partners solutions,”
added Ilia Iarovitcyn, CEO of Spotware. “It’s another step forward in making
cTrader a one-stop solution for brokers and prop firms seeking growth through
technology and innovation, providing their clients with the most sophisticated
trading experience available.”
Brokeree
Solutions has operated for 11 years providing technology solutions for
multi-asset brokers. The company’s product suite includes Social Trading, PAMM,
Prop Pulse and Liquidity Bridge systems.
Spotware’s
cTrader platform currently serves over 8 million traders through 250+ brokers
and proprietary trading firms. Recent platform updates have added cloud
execution capabilities and enhanced plugin functionality.
Another Collaboration
Between cTrader and Brokeree Solutions
This latest
partnership continues the ongoing collaboration between cTrader and Brokeree
Solutions. In October 2023, Brokeree Solutions expanded its services by
integrating its flagship liquidity management tool, Liquidity Bridge, with
cTrader. This integration enables brokers using the cTrader platform to
leverage Brokeree’s turnkey technology solutions.
Spotware’s
cTrader platform is widely adopted, serving more than 100 brokers worldwide and
supporting over 4 million traders. Recently, in November, Spotware introduced
the cTrader Store, a marketplace designed to allow algorithm creators to
commercialize their trading tools. The store aims to reshape algorithmic
trading by providing a secure and user-friendly platform for buying and selling
trading algorithms.
Meanwhile,
Brokeree Solutions has integrated its Social Trading and PAMM solutions with
Nullpoint Technologies, a company specializing in CRM and IB management
solutions for brokers.
This article was written by Damian Chmiel at www.financemagnates.com.
Feed from Financemagnates.com
The major US stock indices are closing mixed with the Dow industrial average down marginally while the NASDAQ index leads the advances.
A look at the numbers shows:
Nvidia CEO Jensen Huang will deliver a keynote address at CES 2025 on Monday at 6:30 p.m. PT. Rumors suggest the event will feature new GPUs for PCs, updates on robotics, AI cloud ventures, and possibly details about the next-generation “Rubin” chip which follows the Blackwell chip. From Tuesday to Friday, Nvidia will showcase advancements in AI, gaming, and automotive technologies.
Shares of Nvidia close at a new record level of $149.43 up $4.96 or 3.43%.. That surpassed the previous high on November 7 at $149.88.
In other big large-cap stocks:
Some losers today included:
This article was written by Greg Michalowski at www.forexlive.com.
Feed from Forexlive.com
Silver’s price rose over 1% on Monday and faces key resistance at the 200-day Simple Moving Average (SMA) at $29.87.
Feed from Fxstreet.com
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
This article was written by Eamonn Sheridan at www.forexlive.com.
Feed from Forexlive.com
El petróleo crudo estableció un máximo del de casi tres meses en 74.97$, donde atrajo vendedores que arrastraron el precio a un mínimo diario en 73.13$.
Feed from Fxstreet.com
Its going to be a light data agenda during the Asian session for today.
I’ve stuck a box around one thing that’ll come later from China. Justin will pick it up. FX reserves data include data on gold purchases, which is much awaited. The People’s Bank of China (PBOC) typically publishes updates on its gold reserves monthly, with data released through the State Administration of Foreign Exchange (SAFE). These updates are generally made available in the first week of each month, detailing the reserves as of the end of the previous month.
In 2024, the People’s Bank of China (PBOC) exhibited notable activity in its gold purchasing strategy:
January to May 2024: The PBOC continued its gold acquisition, extending an 18-month buying streak that began in November 2022. During this period, the central bank added approximately 57 tonnes to its reserves in the first quarter alone.
May 2024: In May, the PBOC paused its gold purchases, maintaining holdings at 72.80 million troy ounces. This pause coincided with gold prices reaching record highs, suggesting a strategic decision to await more favorable pricing.
June to October 2024: The central bank maintained its pause on gold acquisitions for six consecutive months, with holdings remaining unchanged. Despite the lack of new purchases, the value of China’s gold reserves increased due to rising gold prices, with the share of gold in the PBOC’s overall reserves reaching 5.7% by the end of October.
November 2024: The PBOC resumed its gold purchasing, adding 5 tonnes to its reserves, bringing total holdings to 72.96 million troy ounces. This resumption occurred amid a post-U.S. election sell-off that led to a dip in gold prices, potentially providing a more opportune buying environment.
Throughout 2024, the PBOC’s gold purchasing strategy appeared responsive to global economic conditions and gold price fluctuations, balancing reserve diversification with market timing considerations.
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
This article was written by Eamonn Sheridan at www.forexlive.com.
Feed from Forexlive.com
Gold prices remained flat at the beginning of the week even though the Greenback is getting battered.
Feed from Fxstreet.com
Feed from Investing.com
