The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate than expected is typically…
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The highly-anticipated NFP report may be the main event on everyone’s radars this week, but the upcoming ISM manufacturing PMI could generate a strong reaction from USD early on. What are the markets expecting and how can the results affect USD? Read on to find out what leading indicators are suggesting and how dollar pairs reacted…
Japan’s Sumitomo Mitsui DS Asset Management argues that the worst is now behind for China. This snippet in brief. Analysts at the firm hold a positive outlook, citing: Chinese equities are attractively valued The worst is now behind China, even if the property market may take longer than expected to recover significantly I’m digging up a little more China,…
Mexican Peso weakens as USD/MXN climbs on judiciary reform concerns after new Congress convenes. Mexico’s Business Confidence improves slightly in August, while Manufacturing PMI hits a two-year low, indicating sectoral challenges. S&P Global cites weak sales, competition from China, and highway insecurity as key issues for Mexican manufacturers. The Mexican Peso begins September on a lower note, tumbling more…
2024.09.02 2024.09.02 US Dollar Awaits Jobs Data. Forecast as of 02.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Should the US Federal Reserve choose to act in response to growing discontent over the cooling labor market, the August employment data will serve as a key driver for the EURUSD pair. Let’s discuss this topic and make a trading plan. The article covers the following…
This dollar pair seems to have hit a bottom after last week’s somewhat positive U.S. data releases. Can it keep climbing during the release of the August ISM manufacturing PMI? Expectations are for a slight improvement in the index, although the reading is still likely to reflect industry contraction. This Article Is For Premium Members Only…
ISM manufacturing US markets are closed on Monday for Labor Day but will come to life on Tuesday including some notable economic data. The highlight is the 10 am ET release of the August ISM manufacturing index. In July, the survey disappointed with a fall to 46.8 compared to 48.8 expected. This month, economists expect a rebound to 47.5…
GBP/USD Price Forecast: Begins September with minimal gains The GBP/USD begins September on a slight positive tone and trades at 1.3152, up by over 0.20% during the North American session. The session is expected to be light as US financial markets remain closed in observance of Labor Day. Read More… Pound Sterling holds steady above support ahead of volatile…
2024.09.02 2024.09.02 Short-term Analysis for Oil, Gold, and EURUSD for 02.09.2024 Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/ I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. The euro’s short-term uptrend has reversed. The…
