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Is China on The Brink of Stagflation?

China’s economic outlook is currently under stress caused by its weak real estate sector, where declining property prices and demand signal broader economic issues. As property is a significant component of household wealth in China, the drop in apartment prices has made many reluctant to spend, which contributes to economic performance. Moreover, the country’s strict […]

US Dollar steady as markets brace for Powell and jobless numbers

The US Dollar (USD) looks to be on a drift this week and is looking for direction, or a catalyst that might guide it in any way. The fact that the US Dollar Index is right in the middle of this week’s trading range, clearly points to some fatigue in the Greenback while traders are trying to assess […]

Australian Dollar holds ground with a bearish tone amid RBA uncertainty

The Australian Dollar (AUD) moves below a major level, extending the losses for the third successive day following the dovish rate statement by the Reserve Bank of Australia (RBA). Additionally, the AUD/USD pair faces a challenge due to the rebound in US Dollar (USD). Australia’s central bank adopts a data-dependent approach, particularly as the Australian […]

November 6, 2023
By admin

Chart of The Day EUR/USD

At the beginning of last week, there was no indication of a change in the downward trend for the EURUSD rate. The euro was weaker than the dollar. The declines were also supported by some members of the ECB, who communicated that the ECB’s cycle of interest rate hikes had likely come to an end. […]

Pound Sterling capitalizes on improved market sentiment, UK GDP in focus

The Pound Sterling (GBP) looks set to deliver a fresh upside as the market mood is supportive for risk-sensitive assets. The GBP/USD pair is aiming for more upside as investors hope that the policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) will not widen further since they are both sufficiently restrictive to […]

BMW releases better-than-expected quarterly results

Overall market situation: Friday’s session on the markets brings a negation of the wave of gains on the Old Continent from those still seen in recent sessions. Investors’ attention in the last session of this week will be focused on the reading of the NFP report from the US, which will test optimism assuming that […]

Pound Sterling alternates between positive risk-on and poor economic outlook

The Pound Sterling (GBP) trades in a narrow range with the downside cushioned due to improved market sentiment but gains are capped due to the stagnant growth outlook for the UK economy. The near-term demand for the GBP/USD pair depends on the performance of the UK economy in the fourth quarter of 2023. The latest information about the UK […]

Canada Employment Preview: Forecasts from five major banks, deterioration in labour market conditions

Canada’s employment data for October will be reported by Statistics Canada on Friday, November 3 at 12:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers at five major banks regarding the upcoming jobs figures.  The North American economy is expected to have added 22.5K jobs vs. […]

USD/INR gains ground, all eyes on the US NFP data

Indian Rupee (INR) trades with modest intraday losses on Friday, backed by the renewed US Dollar (USD) demand. Despite the uncertainty, India’s Chief Economic Advisor (CEA) V. Anantha Nageswaran said on Thursday that the Reserve Bank of India (RBI) would not be forced to tighten monetary policy even if the US Federal Reserve (Fed) raised […]

EUR/USD Price Analysis: Remains below 50-day SMA, bearish flag pattern in play ahead of NFP

The EUR/USD pair holds steady through the Asian session on Friday and for now, seems to have stalled the overnight pullback from the vicinity of the 1.0670-1.0675 hurdle, or the weekly high. Spot prices currently trade around the 1.0625-1.0630 region, nearly unchanged for the day, as traders keenly await the US NFP report before positioning for the next leg […]