The Fed's twice yearly Financial Stability Report highlights: U.S. government fiscal sustainability tops the list of financial system risks cited in the Fed survey of market contacts for the semi-annual Financial Stability Report.Persistent inflation dropped to No. 5 on the risks list from No. 1 in the prior survey, now tied with global trade risks.Trade issues, last cited as a salient risk in May 2020, were previously a top concern during Trump’s first term in 2019.Middle East tensions, policy uncertainty, and a potential U.S. recession are among the top-cited risks in the Fed survey.The NY Fed surveyed 24 market contacts from August to October on risks to U.S. financial stability.Asset valuation pressures are "elevated," though corporate bond spreads remain low; business and household debt risks are considered "moderate."Liquidity conditions in the Treasury cash market appear challenged and could amplify shocks.Financial sector leverage vulnerabilities remain notable, with hedge fund leverage near the highest levels since 2013.Stablecoin assets rose to nearly $170 billion by early November, with the potential for rapid scaling and vulnerability to runs.This article was written by Greg Michalowski at www.forexlive.com.

Major indices close higher for the trading week by the Russell 2000Baker Hughes oil rigs up 1 Gas rigs down -2European shares close higher despite weak data todayAttack the currency trend: The EURUSD has been stepping lower with more selling todayWhat is the latest tilt for US Treasury Secretary?University of Michigan consumer sentiment final for November 71.8 versus 73.7 estimateTech giants stumble: Communication services slump amid mixed market signalsS&P global manufacturing PMI 48.8 versus 48.8 estimate. Services 57.0 versus 55.2 estimateECBs Nagel (Hawk): PMI data confirms that Germany is stagnatingECBs Villeroy: ECB is achieving a soft landingCanada retail sales for September 0.4% vs 0.4% estimateCanada October new housing price index MoM -0.4% vs 0.1% expectedSNB chairman Schlegel: Switzerland needs flexible inflation target, as it currently hasForexLive European FX news wrap: Poor PMI data weighs on euro, poundMarkets:Gold up $37.21 or 1.4% $2706.61US 10-year yield 4.414%, -1 point basis pointsUS 2-year yield 4.377%, +220 basis pointsWTI crude oil up $1.08 or 1.53% $71.19 S&P 500 rose . For the week the index rose 1.52%NASDAQ rose . For the week the index rose 1.62%Russell 2000 rose . For the week the index rose 4.3079%Dow rose . For the week the index rose 1.76%European shares moved higher with the UK FTSE 100 rising 1.38% and German DAX rising 0.8% leading the way. France's CAC rose 0.58% was the weakest performer. The US dollar rose against all the major currency pairs, but was mixed for the week with the USD falling vs the CAD and the NZD. EUR, +0.58%. For the week, the US dollar rose by 1.18%.JPY +0.20%. For the week the US dollar rose 0.35%GBP, +0.47%. For the week the US dollar rose 0.71%CHF +0.87%. For the week the US dollar rose 0.74%.CAD +0.08%. The week the US dollar fell -0.70%AUD +0.25%. For the week the US dollar fell is 0.58%NZD +0.53%. For the week, the US dollar rose 0.54%DXY 0.57%. For the week the dollar index rose 0.0%Fundamentally, the US data today was mixed with the S&P global PMI manufacturing and services indices higher. For Manufacturing PMI, the index moved from 47.8 to 48.8For the services index it surged to 57.0 from 55.3 last month. From Chris Williamson, Chief Business Economist at S&P Global Market IntelligenceThe business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high. The prospect of lower interest rates and a more probusiness approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November. The rise in the headline flash PMI indicates that economic growth is accelerating in the fourth quarter, while at the same time inflationary pressures are cooling. The survey's price gauge covering goods and services signalled only a marginal increase in prices in November, pointing to consumer inflation running well below the Fed's 2% target.A concern is that growth remains heavily reliant on the services economy, with manufacturing production declining at an increased rate. However, the promise of greater protectionism and tariffs has helped lift confidence in the US good producing sector, which is already feeding through to higher factory employment. Factories are meanwhile stepping up their purchases of imported inputs as they seek to front-run tariffs, putting pressure on supply chains to a degree not seen for over two years. Any further stretching of these supply lines could see prices move higher as demand outstrips supply.Later the University of Michigan sentiment came in weaker than expectations with the index moving to 71.8 from 73.0 preliminary, but was up from 70.5 last month. Inflation readings were mixed with the one-year inflation expectations remaining study a 2.6% versus the preliminary lower than the 2.7% last month. However the five-year inflation expectations rose to 3.2% from 3.0% last month.Canada retail sales data for September came in and is expected 0.4% for the headline number but was expected 0.9% orders. The estimate for October came in fairly solid 0.7%.Yields were mixed today with the shorter end higher and the longer end lower flattening the yield curve2-year yield 4.377%, +20 basis points5-year yield 4.305%, +0.2 basis points10-year yield 4.414%, -1 point basis points30-year yield referred 90%, -2.3 basis points2-10 year spread is down -3.6 bps at 3.9 basis points2-30 year spread is also down -2.8 bps at 22.4 basis pointBitcoin reached another record level with the price reaching a $99,800 just to hundred dollars short of Bitcoin $100K. The digital currency that never sleeps will be eying the $100K level over the weekend. For the week, the price is up $9290.Thank you for the support this week. Adam is back on Monday from the Finance Magnate conference in London.This article was written by Greg Michalowski at www.forexlive.com.

The stock indices close week. For the day, the Dow and Russell 2000 rose solidly, the S&P and the Nasdaq less so.Dow industrial average rose 426 points or 0.97% at 44296S&P index rose 20.63 points or 0.35% it 5969.34NASDAQ index rose 31.23 points or 0.16% at 19003.65Russell 2000 rose 42.65 points or 1.80% at 2406.67For the trading week:Dow Industrial average rose 2.0%S&P index rose 1.7%NASDAQ index rose 1.74%Russell 2000 surged by 4.52%This article was written by Greg Michalowski at www.forexlive.com.

The USD/CHF pair, after trading within a range of 0.8400 to 0.8550 through late August and October, transitioned from consolidation into a trending phase. This shift began as prices broke through key levels in a step-by-step manner, marking the transition from non-trend to trend. Last week, the price moved above the 50% midpoint of the move down from the April high at 0.87989, and the 200 day MA at 0.88298. The price reached a target area near 0.8914 to 0.8923 and backed off into the close last Friday. Early this week, the pair moved lower initially, breaking below the 200-day moving average at 0.88298 and reaching the 50% retracement of the decline from the April high at 0.87989, near the natural support at 0.8800. At this level, sellers turned into buyers, driving a reversal higher.The price rebounded above the 200-day moving average midweek, retested it on Wednesday, and subsequently built momentum to the upside once again. This upward move, supported by broader dollar strength and weaker European currencies, pushed the pair above the 61.8% retracement of the April high at 0.8899 and a swing area between 0.8914 and 0.8923, which now serves as immediate support zones. Staying above 0.8900 maintains a bullish outlook, with further upside likely into the new trading week. The next major target lies around the psychological 0.9000 level.Conversely, if the price breaks below 0.8900, along with the lower bound of the swing area at 0.8880, a move back toward the 200-day moving average at 0.88208 becomes a possibility. For now, the pair's direction hinges on whether it can hold above these key support levels or retrace toward lower technical targets.--------------------------------------------USD/CHF Technical AnalysisThe USD/CHF pair transitioned from a consolidation phase to a trending phase, breaking through key levels in a step-by-step manner.Key Levels:Support: 0.8900, 0.8880 (lower bound of swing area)Resistance: 0.9000 (psychological level)Lower support at the 200-day Moving Average: 0.88208 and 50% retracement at 0.87989 (all it 0.8800)Trading Strategy:Staying above 0.8900 maintains a bullish outlook.Break below 0.8900 and 0.8880 could lead to a move toward the 200-day moving average.Next major target above 0.8900 is above and below 0.9000 level.Current Situation:The pair has built momentum to the upside, pushing above the 61.8% retracement of the April high and a swing area between 0.8914 and 0.8923. The direction now hinges on whether it can hold above key support levels.This article was written by Greg Michalowski at www.forexlive.com.

US-based electronic trading platform Webull is among three companies that settled with the US securities regulator regarding suspicious activity reports that failed to include important and required information.Webull Financial, Lightspeed Financial Services Group, and Paulson Investment Company, LLC, reportedly agreed to pay the regulator a total of $275,000 for submitting suspicious activity reports that lacked critical information over a four-year period. Suspicious Activity ReportsThe SEC explained in the official announcement of the enforcement action that SARs are tools for law enforcement, offering insights into transactions that may signal illegal activity. Federal law mandates that broker-dealers file SARs explaining transactions deemed unusual or suspicious.Commenting about the fine, Jason Burt, the Director of the SEC’s Denver Regional Office, said: “Suspicious activity reports play a vital role in keeping our markets safe, and the failure of broker-dealers to include necessary information to explain suspicious transactions deprives law enforcement and regulatory agencies of valuable and timely intelligence, undermining the very purpose of the SARs.”According to the SEC, the three firms failed to meet this standard between 2018 and 2022, submitting reports with missing or incomplete details. In addition to paying fines, Webull and Paulson agreed to hire compliance consultants to review their anti-money-laundering programs.Intelligence to Combat Financial CrimeAccording to the regulator, failure to provide complete and concise information in SARs deprives law enforcement and regulators of valuable intelligence needed to combat financial crime. The investigation was led by the SEC’s Denver Regional Office and involved the Financial Industry Regulatory Authority.Recently, Webull collaborated with Coinbase to offer crypto futures to US retail investors. The move aims to give traders access to Bitcoin and Ethereum futures. According to Webull, users must open and fund a futures account to begin trading the crypto futures, and the offering is expected to be rolled out to US users in the coming months.According to the digital investment platform, Webull’s collaboration with Coinbase Derivatives seeks to bridge the gap in the market for retail investors. Futures contracts for Bitcoin, nano Bitcoin, Ethereum, and nano Ether are among the products expected to launch on Webull.This article was written by Jared Kirui at www.financemagnates.com.

The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance.

The Pound Sterling extends its losses against the Greenback for the third straight day, is down 0.47% after UK Flash PMIs and Retail Sales data disappointed investors.

In Friday's session, the US Dollar Index (DXY) declined slightly after reaching a new two-year high amidst geopolitical instability.

Baker rig count for the current week:Oil rigs, up 1 to 479 Natural gas rigs down -2 to 99Total rigs for the week down 1 to 583This article was written by Greg Michalowski at www.forexlive.com.

The Mexican Peso retreats for the third straight day versus the US Dollar, although economic data suggests the country’s economy grew in the third quarter while inflation edged lower.

The major European indices are closing the day higher despite what was weak flash European PMI data for both manufacturing and service.The final numbers are showing: German DAX +0.89%France's CAC +0.58%UK's FTSE 100 +1.38%Spain's Ibex +0.39%Italy's FTSE MIB +0.60%For the trading week indices are mixed with France and Italy moving lower and Germany, UK, and Spain moving higher.German Dax +0.58%France's CAC -0.20%UK's FTSE 100 +2.46%Spain's Ibex +0.1 don't worry about them serving soaring new 8%Italy's FTSE MIB -2.04%Looking at the European yields, the benchmark 10 year yields moved lower on the weaker data: Germany 2.245%, -8.2 basis pointsFrance 3.046%, -6.7 basis pointsUK 4.392%, -4.0 basis pointsSpain 2.977%, -7.5 basis pointsItaly 3.508%, -5.1 basis pointsfor the trading week 10 year yields were lower Germany, -9.5 basis pointsFrance -2.7 basis pointsUK -6.8 basis pointsSpain -8.0 basis pointsItaly -3.9 basis pointsAs London/European traders head for the exits for the week, US stocks are higher: Dow industrial average +0.76%S&P index +0.26%NASDAQ index +0.05%Russell 2000+1.57% In the US debt market, yields are mixed with the shorter end higher in the longer and lower:2-year 4.362%, +1.3 basis points5-year 4.289%, -1.4 basis points10 year 4.402%, -3.0 basis points30 year 4.584%, -3.6 basis pointsA snapshot of other markets shows:Crude oil is $0.86 or +1.24% at $70.97Gold is up $36.78 or 1.3% at $2706.15. The price is moving closer to its all-time high closing level of $2787.42, after correcting toward the 100 day moving average and find support buyers back on November 14.Bitcoin is trading at $99,127. The high price today reached $99,500 earlier today. Come on Bitcoin 100K.This article was written by Greg Michalowski at www.forexlive.com.

Weak PMI data from Europe and the UK raise concerns about global economic outlook and sent the EUR and GBP tumbling. Escalating tensions in Russia-Ukraine and the Middle East add to market uncertainty.  Upcoming PCE inflation data will influence Fed policy and market sentiment. Read More: Gold Price Analysis: Is the $2,600 Breakout a Bullish

The EUR/USD pair continued its downward trend today, extending a week-long selloff as bearish momentum carried the price through key technical levels. Weak European flash PMI data and concerns from ECB officials over growth and inflation pressured the euro, while stronger-than-expected US PMI data (offset slightly by weaker University of Michigan data) provided support for the dollar. The pair broke below the 50% retracement of the trading range at 1.0405, reaching a low of 1.03322 before bouncing slightly.After significant selling, a corrective bounce is expected, but the strength of that correction will determine the next move. Today’s recovery took the price back above the 50% level to a post-low high of 1.0436, just 1 pip shy of the 38.2% retracement of the week’s range at 1.04372. Failure to breach the 38.2% level signals continued seller dominance. The price is now back below the 50% level, further reinforcing bearish control. If the price remains below 1.04372 and sellers push it back under 1.0405, a retest of the low at 1.03322 is likely, with potential for further downside if that level breaks.Conversely, a move back above 1.04372 could invite more upside probing. Initial targets include 1.04697, followed by the falling 100-hour MA at 1.0535 and the 200-hour MA at 1.0551. For now, the pair remains in a seller-driven market, with the focus on whether bearish momentum can extend or if buyers can stage a more meaningful recovery---------------------------------------------EURUSD Technical AnalysisThe EURUSD has continued its downward trend this week, with selling pressure intensifying after weak European flash PMI data and concerns about growth and inflation from ECB officials. In contrast, the US PMI data was stronger than expected.Key Levels:50% Midpoint of the range since 2022 : 1.0405 (broken today)38.2% Level of the weeks trading range: 1.04372 (resistance)100-hour Moving Average: 1.0535 (falling)200-hour Moving Average: 1.0551 (falling)Trading Strategy:If the price stays below 1.04372 (38.2% of the week's trading range) and breaks below 1.0405 (50% of the range since 2022 low), expect a run toward the lows for the day at 1.0332.A break below the lows could lead to further downside probing.If the price moves back above 1.04372 (38.2% of the week's range), expect further upside probing.Targets on the upside include 1.04697, 1.0535, and 1.0551.Current Situation:The current price is ticking back below the 50% midpoint, indicating sellers are in full control.Have you read my book Attacking Currency Trends. You can buy it on Amazon.com https://www.amazon.com/Attacking-Currency-Trends-Anticipate-Market/dp/0470874384/ref=cm_cr_arp_d_product_top?ie=UTF8This article was written by Greg Michalowski at www.forexlive.com.

The USD/JPY pair moved lower in the early Asian session but found support once again near the rising 100-bar moving average on the 4-hour chart, currently at 153.944. This level, which also held yesterday and prompted a bounce, remains a key technical support. Staying above this moving average maintains a bullish bias, while a break below shifts the focus to the 61.8% retracement level at 153.397. Further downside targets include the 200-bar moving average on the 4-hour chart at 152.314 and the 200-day moving average at 151.941, with each level increasing the bearish bias if broken.On the upside, a swing area near 155.21 serves as the next key resistance. A move above this level would strengthen the bullish case, opening the door to further targets such as the weekly high at 155.88, last week’s high at 156.72, and the 157.921 high from July 19. These levels mark progressive resistance points in a bullish scenario. In summary, the pair's near-term direction hinges on the 100-bar moving average, with a simple rule: staying above supports bullish momentum, while moving below shifts the focus to bearish targets.-----------------------------------------------USDJPY Technical AnalysisThe USDJPY currency pair began the Asian session with a decline, only to find support near its rising 100-bar moving average on the four-hour chart. This moving average is currently at 153.944.Key Support and Resistance Levels:Support: 100-bar moving average on the four-hour chart at 153.944Resistance: Swing area high at 155.21Trading Strategy:Stay above 153.944 for a more bullish outlookMove below 153.944 for a more bearish outlookUpside Targets:High of the week at 155.88High from last week at 156.72High price since July 19 at 157.921Downside Targets:Broken 61.8% level at 153.397200-bar moving average on the four-hour chart at 152.314200-day moving average at 151.941A move below each of these levels would increase the bearish bias.This article was written by Greg Michalowski at www.forexlive.com.

The downturn in Gold prices underscored by sharp liquidations from macro funds lined up exceptionally well with historical patterns surrounding drawdowns associated with macro fund liquidations from extreme levels, averaging between 7-10% over the last decade, TDS’ Senior Commodity Strategist Daniel Ghali notes.

The EUR/CAD extended its losing streak to four sessions, falling to a low since February on Friday.

The fight for US Treasury Secretary is thought to be coming to a conclusion with Kevin Warsh and Scott Bessent the betting favorite on Polymarket. However, Fox's Gasparino has tweeted that Marc Rowan made a strong pitch for the post to Pres. Trump.Needless to say, the President would want to have someone who would promote his policies of higher tarriffs, extending the tax cuts, fiscal cuts and overall protectionism policies. Below is a summary of the candidates along with the current betting odds from Polymarket. Kevin WarshWarsh, 54, served as a Federal Reserve governor (2006-2011), appointed by Bush and renominated by Obama.Youngest-ever Fed governor, key liaison during the 2007-2008 financial crisis.Currently a visiting fellow at Stanford's Hoover Institution, lecturer at Stanford Business School, and adviser to the Congressional Budget Office.Speculated to become Fed Chair in 2026. Married to Estée Lauder heiress Jane Lauder.Marc RowanRowan, 62, is the billionaire co-founder and CEO of Apollo Global Management.Advocated for "wholesale change" in government operations to stabilize federal finances, highlighting Elon Musk's role at DOGE.Criticized UPenn leadership and anti-Israel protests post-2023 Hamas attack; urged donors to withhold support.Scott BessentBessent, founder of Key Square Group and former Yale professor, is a key adviser to Trump's campaign.Supports traditional Republican economic policies and Trump's use of tariffs in trade negotiations.Supports Trump's tariff policies and Republican economic strategies.Proposed a three-point plan: 3% economic growth, reducing the deficit to 3% of GDP, and increasing domestic oil production by 3 million barrels/dayBill HagertyGOP Senator from Tennessee and former Ambassador to JapanConsidered a longshot for Treasury Secretary. Close ties to Trump and SpaceX CEO Elon Musk.The betting marketplace, Polymarket, has Bessent as the small favorite over Keven Warch.This article was written by Greg Michalowski at www.forexlive.com.

RBNZ is expected to cut rates by 50 bps at its last policy meeting of 2024 But will PCE inflation data give the green light for a Fed cut? Eurozone flash CPI also critical for ECB’s December decision RBNZ set for third rate cut  The Reserve Bank of New Zealand will kick-start the end of The post Week Ahead – RBNZ to Slash Rates Ahead of US and Eurozone Inflation Data appeared first on Action Forex.

Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons, if they were supported by a nuclear state. The change was an obvious response to US allowing Ukraine The post Weekly Focus – Geopolitics Back on the Radar appeared first on Action Forex.

Crude Oil price is set to close off this week above $70 after a week filled with headlines on ramped up tensions between Russia and Ukraine. Both countries are rushing to get the tactical upper hand ahead of possible resolution talks once President-

Markets November EMU PMI’s were one of the final reality checks going into the December 12 policy meeting (and beyond). Last month, there was a glimmer of hope with the overall index at 50. HCOB analyses even saw tentative signs of some light at the end of the (German) tunnel. However, the November data made The post Sunset Market Commentary appeared first on Action Forex.

Gold (XAU/USD) rallies for the fifth day in a row, making it a clean-sweep of green daily candlesticks for the week so far.

Preliminary 73.0Consumer sentiment 71.8 versus 73.7 estimate. Preliminary 73.0. Prior month 70.5Expectations and 76.9 versus 78.5 preliminary. Prior month 74.1Current conditions 63.9 versus 64.4 preliminary. Prior month 64.91-year inflation 2.6% versus 2.6% preliminary5-year inflation 3.2% versus 3.1% preliminary. Prior month 3.0%The data was weaker than the preliminary but up from the prior month. The 1 year inflation was the lowest since December 2022, but the 5 year is the highest since June 2008.Remove is tradingYields:2 year 4.355%, +0.7 basis points5 year 4.287%, -1.6 basis points10 year 4.402%, -3.0 basis pointsLooking at the major indices the flow of funds continues into the Russell 2000 sector with prices up near 1%. The Dow industrial is up 0.59%. Excluding himself the Excel Items in several pieces perspective in one interesting is close access to its seven which mainly since the same class anyway just three checking out distinct especially since changein where's the best relationship is interesting to increase Dow +260 points or 0.59%S&P +12.82 points or 0.22%Nasdaq -12.69 points or -0.07%Russell 2000 was 23.11 points or +0.98%This article was written by Greg Michalowski at www.forexlive.com.

The US Dollar (USD) printed a fresh two years high, pushing the DXY US Dollar Index above 108.00, after Purchasing Managers Index (PMI) data for the Eurozone signaled that the region could be on the brink of a recession. The data weighed

The US economy showed signs of stronger momentum in November as PMI data highlighted robust activity in the services sector. PMI Manufacturing improved slightly to 48.8 from 48.5, remaining in contraction but showing some stabilization. Meanwhile, PMI Services surged to a 32-month high of 57.0 from 55.0, boosting the Composite PMI to 55.3, up from The post US PMI composite jumps to 55.3, accelerating growth and cooling inflation appeared first on Action Forex.

S&P Global will publish the preliminary estimates of the United States (US) Purchasing Managers Indexes (PMIs) for November on Friday.

GBP/ZAR has formed a temporary bottom after a steep sell-off.

Sector OverviewThe stock market is showcasing a mixed bag of performances today, characterized by a notable decline in communication services, while some tech giants experience pressure. Simultaneously, healthcare and consumer defensive sectors are displaying strength.📉 Communication Services: This sector is seeing substantial declines, with Google (GOOG) facing a significant drop of 1.52%. Meta (META) also falls by 0.36%, reflecting cautious investor sentiments.📈 Healthcare: On the brighter side, the healthcare sector is gaining traction. Abbott Laboratories (ABT) and AbbVie (ABBV) are shining, with ABBV rising notably by 1.40% and LLY climbing 1.03%.🔋 Consumer Defensive: Companies such as Walmart (WMT) and Procter & Gamble (PG) are up by 1.19% and 0.74%, respectively, suggesting stability and investor confidence in defensive plays.Market Mood and TrendsThe prevailing market sentiment is one of caution, as investors weigh mixed cues from various sectors. The drop in communication services might indicate looming concerns or reactions to sector-specific dynamics. In contrast, gains in healthcare and consumer defensive suggest that investors may be seeking safe havens amidst the volatility.Strategic RecommendationsInvestors should consider adjusting their portfolios to mitigate exposure to sectors experiencing declines, particularly communication services. Diversifying into healthcare stocks or consumer defensive plays could provide some stability and growth potential. Keeping an eye on upcoming news or reports from major tech companies might be prudent, as they could sway future market trends significantly.For more insights and real-time updates, keep visiting ForexLive.com for comprehensive analysis and expert opinions on market movements.This article was written by Itai Levitan at www.forexlive.com.

Prior month manufacturing 48.5. Prior month services 55.0S&P global flash manufacturing index 48.8 vs 48.8 estimateS&P global flash services index 57.0 vs 55.2 estimate. Best since March 2022Composite 55.3 vs 54.1 last monthFuture Sentiment:Future output optimism rebounded for the second consecutive month in November, reaching the highest level since May 2022.Manufacturing sector optimism hit a 31-month high, suggesting potential for more balanced economic expansion.Improved sentiment attributed to reduced political uncertainty following the US Presidential Election.Expectations of lower interest rates, lower inflation, and better economic conditions contributed to positive outlooks.A more business-friendly incoming administration, with expectations of looser regulations and protection measures, boosted optimism, particularly in manufacturing.EmploymentEmployment declined for the fourth consecutive month in November, with job losses reaching a three-month high.The services sector saw an increased rate of payroll reductions.Manufacturing jobs rose for the first time in four months, partially offsetting losses in the services sector.The decline in overall employment contrasts with improved business confidence about the year ahead.Prices:Average prices for goods and services rose modestly in November, with inflation at its lowest since June 2020.Inflation remained below the pre-pandemic long-run average.Services sector inflation moderated significantly, with prices rising marginally at the slowest rate since May 2020.Manufacturing selling prices increased slightly, showing a minor uptick in inflationFrom Chris Williamson, Chief Business Economist at S&P Global Market IntelligenceThe business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high. The prospect of lower interest rates and a more probusiness approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November. The rise in the headline flash PMI indicates that economic growth is accelerating in the fourth quarter, while at the same time inflationary pressures are cooling. The survey's price gauge covering goods and services signalled only a marginal increase in prices in November, pointing to consumer inflation running well below the Fed's 2% target. A concern is that growth remains heavily reliant on the services economy, with manufacturing production declining at an increased rate. However, the promise of greater protectionism and tariffs has helped lift confidence in the US good producing sector, which is already feeding through to higher factory employment. Factories are meanwhile stepping up their purchases of imported inputs as they seek to front-run tariffs, putting pressure on supply chains to a degree not seen for over two years. Any further stretching of these supply lines could see prices move higher as demand outstrips supply.The USD has moved higher on the better data:USDJPY is testing the 200 hour MA at 154.95. Move above it and the 155.00 and the buyers are back in control in the short term. .EURUSD moved lower and away from the 38.2% of the week's trading range at 1.04697. The price is testing the 50% midpoint of the range since 2022.This article was written by Greg Michalowski at www.forexlive.com.

BTCUSD nonstop rally almost reaches 100k Caution needed as market looks overbought BTCUSD (Bitcoin) is experiencing one of its best moments in its history, having rocketed by 40% to reach an all-time high of 98,670 in just a month as investors swallowed Trump’s promising crypto regulatory pledges and at the same time sought safety against a The post BTCUSD Historic Rally Flirts With 100k appeared first on Action Forex.

Retail sales rose by a healthy 0.4% month-over-month (m/m) in September, in line with Statistics Canada’s advance estimate. Sales were even stronger in real terms. When adjusted for inflation, the volume of retail sales was 0.8% higher on the month. One weak spot was sales at motor vehicle and parts dealers, which declined by 0.7% The post Canada: Retail Sales End the Third Quarter on a Solid Footing appeared first on Action Forex.

The major US stock indices are marginally higher to start the new trading day:Dow industrial average is up 80 points or 0.19% at 43960S&P index is up 6.47 points or 0.10% of 5954.90NASDAQ index is now trading marginally lower by 4.5 points or -0.2% at 18963.The S&P global/manufacturing and services data will be released at 9:45 AM ET with expectations for manufacturing at 48.8 and services and 55.2.The two-year. Yield is trading at 4.340%, -0.8 basis points while the 10-year yield is at 4.406%, -2.6 basis pointsThis article was written by Greg Michalowski at www.forexlive.com.

The AUDUSD opened the week below a swing area between 0.6471 and 0.6479. On Monday the price moved above that area and stayed above it for the rest the week. In trading today, the low price move down to test a low of that swing area but found willing sellers. The price has since rotated toward the middle of what is the trading range for the week with a high near 0.6544. In the middle is the 100 and 200 hour moving averages between 0.6498 and 0.6508. The price is currently trading between those two moving averages wait for the next shove. That shove may come from the flash PMI data to be released at 9:45 AM ,. Fd by the Michigan consumer sentiment at 10 AMThis article was written by Greg Michalowski at www.forexlive.com.

EUR/USD recovers some of the intraday losses after posting a fresh almost two-year low near 1.0330 in North American trading hours on Friday.

USD/CHF is striking higher again after a brief pullback from overbought levels.

The NZD/USD pair rebounds slightly after posting a fresh yearly low near 0.5820 in the North American session on Friday.

There is a high probability that a settlement deal is being negotiated between the proprietary trading firm My Forex Funds and regulators in the US and Canada, Finance Magnates has learned exclusively.Ongoing NegotiationsThe possible negotiation follows lawsuits filed against the firm and its CEO, Murtuza Kazmi, by the Commodity Futures Trading Commission (CFTC) and the Ontario Securities Commission (OSC).The company’s legal fight with the CFTC has disrupted the proprietary trading industry, prompting other firms to swiftly modify language on their websites. Many have added terms such as “simulated” and “virtual” to clarify the nature of their services.The CFTC initially charged My Forex Funds and Kazmi with fraud at the end of August 2023. According to the regulator, the company generated at least $310 million in fees from its proprietary trading business. The platform had more than 135,000 customers between November 2021 and its forced closure.However, the regulatory action, including a temporary restraining order and an asset freeze, effectively shuttered the business overnight. After a legal challenge by the defendants’ lawyers, a court unfroze most of Kazmi's assets.Misrepresentation of FactsThe defendants also pointed to misrepresentation of facts in obtaining the asset freeze order, claiming it resulted from the regulatory staff’s “bad faith.” This prompted a motion for a sanctions order against the regulator.Interestingly, one of the CFTC commissioners, Caroline Pham, publicly criticized the regulator's actions in the case against My Forex Funds, questioning the work ethics of its staff.Later, Republican Senator Charles Grassley of Iowa addressed the issue by sending a letter to the Chairman of the CFTC. He raised concerns about the “process and procedure” of the regulator’s administrative actions and inquired whether disciplinary measures had been taken against staff involved in the alleged misconduct. Although his letter did not explicitly mention My Forex Funds by name, it referenced details of the lawsuit.This article was written by Arnab Shome at www.financemagnates.com.

The futures are implying a mixed opening with 30 minutes to go until the opening bellDow is up 19 pointsS&P index is down -4.21 pointsNASDAQ index is down -35.78 pointsLooking at the US debt market:2-year 4.338%, -1.0 basis points5-year 4.282%, -2.2 basis points10-year 4.402%, -3.0 basis points30-year 4.593%, -2.7 basis pointsLooking at other markets: Crude oil is trading down $0.15 at $70Gold is trading up $21 or 0.82% at $2691.21Silver is trading up $0.33 or 1.11% at $31.11.Bitcoin is trading down -$691 at $97,760 after reaching a high of $99,500 just short of Bitcoin 100KThis article was written by Greg Michalowski at www.forexlive.com.

European majors are experiencing significant selling pressure today, with Euro leading the declines. Euro sharply depreciated as traders increased their bets on an aggressive 50 bps rate cut by ECB in December, following dismal PMI data. Market expectations for such a cut have surged to 50%, a substantial rise from around 15% just a day The post Euro and Sterling Under Fire after PMIs, Swiss Franc Reverses Gains appeared first on Action Forex.

USD/JPY is trading a touch lower in the 154.30s on Friday as the Japanese Yen (JPY) strengthens against the US Dollar (USD) due to the release of higher-than-expected Japanese macroeconomic data, and Tokyo’s announcement of a $250 billion economic stimulus package.

The USD/CAD pair surrenders its entire intraday gains and ticks down as the Canadian Retail Sales data grew steadily in September and the US Dollar (USD) gives up a majority of its intraday gains after refreshing a two-year high.

ECB Nagel is on the wires saying"PMI data confirm that Germany is stagnating and start of next year will be complicatedNeed to wait for next projections before discussing rate capsize.We are on the right trackNagel is considered more of a hawk.The EURUSD fell sharply earlier today off of the weaker than expected PMI data, The price did snapback higher moving back above the 50% midpoint of the range since the 2022 low. The 50% retracement comes in at 1.0405. The corrective high came in just below the 38.2% retracement of the range for this week's trading. That level comes in at 1.04372.The 50% is acting as close support at 1.0405, while the 38.2% is close resistant 1.04372. Look for breaks to help dictate the next move. Do sellers keep in firm control, or does the focus shift to a weaker dollar?This article was written by Greg Michalowski at www.forexlive.com.

ECBs Villeroy is weighing in after weaker data today:ECB is achieving a soft landingNot behind the curve todayWill pay close atttention to risk of undershooting target, keeping economic activity unnecessarily subdued.See continuity of resilence of growthThe PMI flash data today were soft (is that a soft landing). Each missed expectations to the downside that is....EUR German Final GDP q/q: MISSED - Actual 0.1% vs. Forecast 0.2%, Previous 0.2%.GBP Retail Sales m/m: MISSED - Actual -0.7% vs. Forecast -0.3%, Previous 0.1%.EUR French Flash Manufacturing PMI: MISSED - Actual 43.2 vs. Forecast 44.6, Previous 44.5.EUR French Flash Services PMI: MISSED - Actual 45.7 vs. Forecast 49.1, Previous 49.2.EUR German Flash Manufacturing PMI: MET - Actual 43.2 vs. Forecast 43.1, Previous 43.0.EUR German Flash Services PMI: MISSED - Actual 49.4 vs. Forecast 51.6, Previous 51.6.EUR Flash Manufacturing PMI: MISSED - Actual 45.2 vs. Forecast 46.0, Previous 46.0.EUR Flash Services PMI: MISSED - Actual 49.2 vs. Forecast 51.6, Previous 51.6.GBP Flash Manufacturing PMI: MISSED - Actual 48.6 vs. Forecast 50.0, Previous 49.9.GBP Flash Services PMI: MISSED - Actual 50.0 vs. Forecast 51.9, Previous 52.0.This article was written by Greg Michalowski at www.forexlive.com.

Canada’s retail sales rose by 0.4% mom in September to CAD 66.9B, slightly above market expectations of a 0.3% mom increase. Gains were observed in six out of nine subsectors, with food and beverage retailers leading the growth. Core retail sales, which exclude gasoline and motor vehicle-related sectors, surged by a robust 1.4% mom, highlighting The post Canada retail sales rises 0.4% mom in Sep, 0.7% mom in Oct appeared first on Action Forex.

Prior month 0.4%Retail sales for September x.x% vs 0.4% est.Ex Auto 0.9% vs 0.5% est. Prior month revised -0.8% from -0.7%Advanced retail sales estimate for October 0.7%Details:Retail sales increased 0.4% to $66.9 billion in September, with gains in six of nine subsectors, led by food and beverage retailers.Core retail sales (excluding gasoline, fuel vendors, and motor vehicles/parts) rose 1.4% in September.Retail sales in volume terms increased 0.8% in September.Retail sales were up 0.9% in Q3, with a 1.3% increase in volume terms.Food and beverage retailers saw a 3.0% rise in sales, driven by a 3.3% increase at supermarkets and grocery retailers, following a 1.9% decline in August.Beer, wine, and liquor store sales increased 4.4%, marking the first rise in three months.Sales at building material and garden equipment/supplies dealers increased 3.0% in September.Core retail sales decreased for clothing, accessories, shoes, jewelry, and related goods, down 0.8% in September.From the providences:Retail sales increased in five provinces in September, with Alberta leading at +2.3%, driven by higher sales at motor vehicle and parts dealers.Quebec saw a 0.6% rise in retail sales, with a 0.3% increase in the Montréal CMA.Ontario experienced the largest provincial decline at -0.1%, due to lower sales at motor vehicle and parts dealers, while sales in the Toronto CMA remained unchangedThe price of USDCAD has moved lower. The price is back below the 200 and 100 hour MA at 1.4000 and 1.3988. Staying below t..4000 keeps the sellers in firm control. The 100 bar MA on the 4-hour chart comes in at 1.3954. Move below it and staying below, is more bearish with swing area low at 1.3945 and then the low for the week at 1.3930 as downside targets.This article was written by Greg Michalowski at www.forexlive.com.

Prior was 0.0%New Housing Price Index YoY 0.8% vs 0.2% prior.This article was written by Giuseppe Dellamotta at www.forexlive.com.

Daily Pivots: (S1) 153.82; (P) 154.64; (R1) 155.36; More… USD/JPY is still bounded in range trading and intraday bias stays neutral. On the upside, break of 156.74 will resume the whole rally from 139.57 towards 161.94 high. On the downside, though, break of 153.27 will resume the correction towards 38.2% retracement of 139.57 to 156.74 The post USD/JPY Mid-Day Outlook appeared first on Action Forex.

Daily Pivots: (S1) 0.8835; (P) 0.8854; (R1) 0.8886; More… USD/CHF’s rally from 0.8374 resumed by breaking 0.8916 resistance. Intraday bias is back on the upside. Further rise should be seen towards 0.9223 key resistance next. For now, outlook will stay bullish as long as 0.8800 support holds, in case of retreat. In the bigger picture, The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

Daily Pivots: (S1) 1.2557; (P) 1.2609; (R1) 1.2641; More… GBP/USD’s accelerates lower today and intraday bias stays on the downside for 100% projection of 1.3433 to 1.2842 to 1.3047 at 1.2456. Decisive break there will extend the fall from 1.3433 to 1.2298 cluster support zone. For now, risk will stay on the downside as long The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

The European data was yucky (if I can use a favorite word of my grandson). All the data from German GDP, to UK retail sales and flash services and manufacturing data missed the expectations. Only one, UK flash services PMI, was 50.0 or better and it came in right at 50.0. Below is summary of that data. Yucky:EUR German Final GDP q/q: MISSED - Actual 0.1% vs. Forecast 0.2%, Previous 0.2%.GBP Retail Sales m/m: MISSED - Actual -0.7% vs. Forecast -0.3%, Previous 0.1%.EUR French Flash Manufacturing PMI: MISSED - Actual 43.2 vs. Forecast 44.6, Previous 44.5.EUR French Flash Services PMI: MISSED - Actual 45.7 vs. Forecast 49.1, Previous 49.2.EUR German Flash Manufacturing PMI: MISSED - Actual 43.2 vs. Forecast 43.1, Previous 43.0.EUR German Flash Services PMI: MISSED - Actual 49.4 vs. Forecast 51.6, Previous 51.6.EUR Flash Manufacturing PMI: MISSED - Actual 45.2 vs. Forecast 46.0, Previous 46.0.EUR Flash Services PMI: MISSED - Actual 49.2 vs. Forecast 51.6, Previous 51.6.GBP Flash Manufacturing PMI: MISSED - Actual 48.6 vs. Forecast 50.0, Previous 49.9.GBP Flash Services PMI: MISSED - Actual 50.0 vs. Forecast 51.9, Previous 52.0.The data pushed the EUR and GBP lower. The CHF also moved lower in sympathy. The USDJPY saw the JPY move lower but then move back to unchanged. For the commodity currencies, they are also weaker vs. the USD.SNB Chairman Martin Schlegel emphasized the importance of Switzerland maintaining a flexible inflation target, which has allowed the central bank to respond effectively to economic shocks. He highlighted the central bank's primary tools as the policy rate and foreign exchange interventions. Schlegel noted that the global economic slowdown has impacted Switzerland more significantly due to the franc's appreciation, acknowledging its role as a safe-haven currency. He reaffirmed the SNB's commitment to ensuring price stability amidst these challenges.Next week, the RBNZ will meet. A Reuters poll released yesterday sees a 50 bp cut to 4.25% from 4.75% currently. Yields are lower in Europe and the US to start the day:German -8.4 bpsUK -4.9 bpsFrance -9.0 bpsSpain -9.1 bpsItaly -6.8 bpsIn the US:2 year -2.3 bps5 year -3.6 bps10 year -4.2 bps30 year -4.1 bpsStocks are mixed in Europe with German Dax up 0.34%, France's CAC up 0.10 and UK FTSE 100 up 0.93%.In the US, the futures are implying mixed levels:Dow +27.35 points. Yesterday the index rose 461 points or 1.06%S&P -3.71 points. Yesterday the index rose 31.60 points or 0.53%Nasdaq -28.75 points. Yesterday the index rose 6.28 points or 0.03%For the week, going into the last day of trading this wee:Dow up 0.98%S&P up 1.33%Nasdaq up 1.56%IN other markets:Crude oil is -$0.78 at $69.36Gold is up $28.83 or 1.07% at $2698Bitcoin reached a new high at $99.500 just short of BITCOIN $100K. The price is currently trading at $98,500. The low today reached $97,956. Today Canada retail sales (Est +0.4% and ex-auto +0.5%) will be released at 8:30 along with Canada New Housing prices (last 0.0%). Later at 9:45 AM ET, the US S&P Global PMI flash data will be released with Manufacturing expected at 48.8 vs 47.8 last month. The Services is estimated at 55.2 vs 55.3 last month. University of Michigan Final for November is expected at 73.7 vs 73.0 preliminary and 70.5 last month with 1 year inflation 2.6% and 5 year inflation at 3.1%. A look at the technicals for some of the major currency pairs going into the day shows:EURUSD: The EURUSD fell on the data today and breached the 50% of the trading range since the 2022 low (to the 2023 high). That level comes in at 1.04053. On the daily chart, if go back to 2022 swing lows and highs from May, June and August, that area came in at 1.03485 to 1.03678. The selling did not stop until reaching 1.0332. Since then the price has bounced higher to 1.04368. The 38.2% of the move down from the high this week comes in at 1.04372. Staying below that retracement makes the correction a plain-vanilla variety. It would take a move above to give the buyers a glimpse of victory. Absent that, and they are losing. THe 50% of the range since 2022 (not shown) at 1.0405 is where the US session is beginning. Move below with momentum could give the sellers more confidence to push back toward the lows. Stay above, and a battle between 38.2% on hourly and 50% on the daily is likely. USDJPY: The USDJP is watching the show in Europe today. Looking at the hourly chart below, the low for the day in the Asian session stalled at the 100 bar MA on 4-hour chart (blue line currently at 153.933. The subsequent move higher saw the price get above the 100-hour MA at 154.719, but find willing sellers at the 200 hour MA at 154.946. The price at 154.53 is in the middle of the support and resistance targets. GBPUSD: The GBPUSD fell below the 50% on the daily chart below at 1.26147 yesterday, continuing that momentum lower in trading today. the price fell on the data to and through a trend line on the daily at 1.2497. The low reached 1.2487 before bouncing back higher. The current price is at 1.2512. Today, look for more momentum below the support near the natural support at 1.2500 and the trend line at 1.2497. The first break failed. Will a second break? Looking at the 4-hour chart of GBPUSD below, it will take a move back above 1.2596 to 1.26137 to hur the bearish bias in the pair. Sellers in firm control in the GBPUSD below that old floor area (now a ceiling). WIll the USD PMI be yucky too today and reverse the USD higher move seen so far today?This article was written by Greg Michalowski at www.forexlive.com.

The Mexican Peso (MXN) trades 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.

Daily Pivots: (S1) 1.0439; (P) 1.0497; (R1) 1.0532; More… EUR/USD’s decline accelerated to as low as 1.0330 so far and there is no sign of bottoming yet. Sustained trading below 1.0404 key fiboncci level will carry larger bearish implications. Next target will be 161.8% projection of 1.1213 to 1.0760 from 1.0936 at 1.0203. Nevertheless, strong The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

The Pound Sterling (GBP) weakens against a majority of its peers, except the Euro (EUR), as the United Kingdom (UK) flash S&P Global/CIPS Purchasing Managers’ Index (PMI) data for November surprisingly declined and the Retail Sales data for October contracted at a faster-than-expected pace.

UK data reports today were roundly disappointing, weighing on the Pound Sterling (GBP).

Inflation target has allowed central bank to respond flexibly to shocksCentral bank's main tools are policy rate, FX interventionsGlobal economy slowdown has hit Switzerland harder due to currency appreciationRecognises franc's safe haven natureWill continue to ensure price stabilityNot really anything noteworthy there by Schlegel. For now, the SNB is still expected to cut its policy rate once again in December. The odds of a 25 bps rate cut right now are ~72% with the remainder tied to a 50 bps move.This article was written by Justin Low at www.forexlive.com.

EUR/JPY staircases down from its Halloween peak as it unfolds in a short-term downtrend during November.

The Euro (EUR) plunged in response to poor macro data reports earlier.

USDCAD is edging higher today, a tad above 1.3977 It bounced off the September 25, 2024 trendline Momentum indicators are gradually turning bearish USDCAD is edging higher today, trading a tad above the October 13, 2022 high at 1.3977. CAD bulls’ latest attempt to push USDCAD below the September 25, 2024 ascending trendline failed, with The post USDCAD Trades Higher, Bounces Off a Key Trendline appeared first on Action Forex.

USD/CAD got caught in the crossfire of the hefty US Dollar (USD) advance against the European currencies earlier, rising quickly from the mid/upper 1.39s to an intraday high near 1.4020.

The Canadian dollar is lower on Friday. In the North American session, USD/CAD is trading at 1.3998 at the time of writing, up 0.16% on the day. On the data calendar, Canada releases retail sales and the US publishes the services and manufacturing PMIs. Canada’s retail sales expected to fall Canada’s retail sales for September The post USD/CAD Flirting With 140, Retail Sales Next appeared first on Action Forex.

GBPUSD dipped below 1.2500 handle and hit new lowest in 6 ½ months on Friday, after disappointing UK October retail sales and November PMI numbers further weakened sterling, adding to worsened geopolitical picture on threats of stronger escalation of war in Ukraine. Strengthening dollar on euphoria of Trump trades, as well as increased safe-haven demand The post GBP/USD Outlook: Cable Falls to New Multi-Month Low After Disappointing UK Economic Data appeared first on Action Forex.

Gold returned to growth after nearly three weeks of decline, reversing last week’s drop. The desire for a safe haven for global capital is so strong that it far outweighs the effect of a stronger dollar. The growing tension around the Russia-Ukraine conflict has brought gold back into the focus of investors due to pressure The post Gold Hits New Highs in Euro appeared first on Action Forex.

The US Dollar (USD) is ending the week on a strong note. The DXY raced to a new, two-year high overnight in response to weak European data but has conceded a lot of those gains ahead of North American trading, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Headlines:Euro slumps to near two-year low as PMI data disappointsEURUSD Technical Analysis – The Euro falls to the lowest level since 2022Poor French and German PMI data keeps ECB 50 bps rate cut in playStocks stumble in European morning tradeGold weathers the storm and looks to make it five for five in trading this weekEurozone November flash services PMI 49.2 vs 51.6 expectedGermany November flash manufacturing PMI 43.2 vs 43.0 expectedFrance November flash services PMI 45.7 vs 49.0 expectedUK November flash services PMI 50.0 vs 52.0 expectedUK October retail sales -0.7% vs -0.3% m/m expectedGermany Q3 final GDP +0.1% vs +0.2% q/q prelimMarkets:JPY leads, EUR and GBP lag on the dayEuropean equities lower; S&P 500 futures down 0.1%US 10-year yields down 4.2 bps to 4.390%Gold up 1.1% to $2,698.77WTI crude down 0.8% to $69.55Bitcoin up 0.6% to $98,636The big mover on the day is the euro as poor PMI data from France and Germany acted as a trigger for the single currency to slide lower during the session. The data misses reignited hopes for a 50 bps rate cut by the ECB for next month and in turn, that weighed on the euro alongside a key technical break in EUR/USD itself.The pair had already prepped for this in a drop below 1.0500 yesterday but then cracked below the October 2023 low of 1.0448 on the data. Upon that, it was a quick and swift slide lower all the way down to 1.0331 before the pair is seen holding closer to 1.0400 now - down 0.7% on the day.As the euro slumped, EUR/CHF also briefly hit a record low of 0.9201 but is now keeping just above key daily support around 0.9250.And it wasn't just the euro that got a knock down from poor PMI data. The pound also suffered the same fate later with UK PMI data disappointing and keeping BOE watchers on their toes. The central bank is still not likely to cut again next month but the narrative is building that they will have to move again sooner rather than later.GBP/USD fell from around 1.2570 to test waters just below 1.2500 during the session and is now keeping close to the figure level, down 0.7% on the day. The drop now sees the pair hold at its lowest levels since May.Besides that, the dollar in general remains steadier as it keeps little changed against the yen while sitting higher against the franc and commodity currencies.In broader markets though, the overall mood is more mixed. Bond yields are lower in both the US and Europe after the more sluggish PMI readings, adding to global growth worries. Meanwhile, stocks also stumbled lower after the data but have recovered slightly now ahead of US trading. S&P 500 futures were down as much as 0.5% but are now down just 0.1% ahead of the open.Elsewhere, gold is staying poised to make it five straight days of gains in testing $2,700 again. And Bitcoin remains perky as we wait on the headline to confirm the cryptocurrency hitting six figures for the first time in history.Have a great weekend, everyone.This article was written by Justin Low at www.forexlive.com.

Saxo, a multi-asset trading and investment firm, has partnered with novobanco, a Portuguese bank, to provide novobanco clients with access to Saxo’s advanced trading platform. This partnership aims to offer a fully digital investment experience to Portuguese investors.New Platform Expands Investment OpportunitiesUnder this agreement, novobanco will integrate Saxo's platform, allowing its clients to explore a broader range of investment opportunities. The move aligns with the increasing digitalization of financial services in Portugal, where more investors are seeking digital platforms that provide diverse investment options.“As a bank fully focused on the customer and their needs, we believe that this partnership is an enabler of the Wealth Management journey we have embarked upon by allowing both a democratization and a digitalization of the investment experience,” Elisabete Pinto Pereira, Director of Investment and Protection, novobanco, said.Finance Magnates previously reported that Saxo Bank A/S is closing its Hong Kong office, citing changes in the business environment as the reason. The company also announced the closure of its Shanghai office. However, Saxo emphasized that it will continue to operate in the Asia-Pacific region from its Singapore base.In a statement, Saxo described the decision as “difficult but necessary” and confirmed that it has ceased accepting new clients. The company emphasized that its primary focus is on managing a “smooth offboarding process” for impacted clients and partners.🤝🏽novobanco and Saxo Bank partner to launch an investment platform aimed at retail and professional clients🔗 #platform #investment #RankiaProEuropehttps://t.co/bTnWmU76NL pic.twitter.com/XbKVPNxubj— RankiaPro Europe (@RankiaProEN) November 20, 2024Investment Platform Upgrades for PortugalThe partnership will leverage novobanco’s existing services and enhance its offerings by incorporating Saxo’s award-winning platform. The platform offers a wide range of trading and analytical tools, designed to support both individual investors and traders in accessing global markets. This collaboration aims to allow investors by giving them access to a more comprehensive set of financial instruments and state-of-the-art tools for better decision-making.“As a leading digital trading and investment services provider, Saxo is thrilled to expand the relationship with the novobanco Group and contribute to their drive towards improved customer centricity,” commented Henrik Alsøe, Global Head of Saxo Institutional.“We believe our respective expertise can drive mutual innovations as we help naturally curious people get invested in the global financial markets. The novobanco – Saxo combination offers Portuguese retail investors unparalleled choice in a time when more and more people want to take control of their own investments.”This article was written by Tareq Sikder at www.financemagnates.com.

The Gold price has also recovered more than half of its losses since the end of October and is once again trading at $2,700 per troy ounce, Commerzbank’s commodity analyst Barbara Lambrecht notes.

The Swiss Federal Customs Authority published data on Gold exports in October this week, Commerzbank’s commodity analyst Carsten Fritsch notes.

Oil prices have risen noticeably over the past few days. Brent climbed to $74.8 per barrel in the morning, gaining almost 5% since the beginning of the week, Commerzbank’s commodity analyst Carsten Fritsch notes.

The US Dollar (USD) could to rise to 7.2630; the major resistance at 7.2800 is likely out of reach.

The Turkish central bank (CBT) held rates unchanged yesterday, as had been unanimously expected, but turned somewhat dovish in its language, contrary to our expectation.

The statistics on Japanese inflation have a peculiarity. In most countries, the categories of food and energy are excluded when calculating core inflation.

Bias for the US Dollar (USD) is tilted to the downside; any decline is unlikely to threaten the major support at 153.30.

Novak had graduated from being Russia's energy minister to deputy prime minister but he is still very much involved with OPEC+ matters. In the meeting today, he basically just reaffirmed the partnership between Russia and OPEC. Adding that:"Russia will continue to be a key player in the oil market, maintaining its status as a reliable supplier. The OPEC+ member countries are in constant contact, monitor the market situation and are ready to flexibly and promptly respond to any changes in market conditions. The current mechanism for implementing the OPEC+ Agreement is the most effective tool for maximizing the efficiency of oil production and state revenues."OPEC is also out with a statement saying that the meeting highlights "the important partnership between the Russian Federation and OPEC at all levels". It looks like this pact will continue for a while more.This article was written by Justin Low at www.forexlive.com.

Fundamental OverviewOverall, we’ve seen a rangebound price action in the US Dollar this week as the market’s pricing remained largely unchanged due to the lack of catalysts at three rate cuts by the end of 2025.This morning, we saw some strong bids in the greenback entirely due to the weak Eurozone PMIs as the flows in the pair spilled over to other markets. On the EUR side, the probabilities for a 50 bps cut in December rose to 63% from 26% before the PMIs. By the end of 2025, the market sees a total of 142 bps of easing. EURUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that EURUSD broke through the key support zone around the 1.05 handle yesterday and extended the drop into the 1.0335 level this morning on weak Eurozone PMIs. From a risk management perspective, the sellers will have a better risk to reward setup around the previous support now turned resistance. The buyers, on the other hand, will want to see the price rising back above the 1.05 handle to invalidate the bearish setup and position for a rally into the major trendline.EURUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that we have another downward trendline now defining the current bearish momentum. If we were to get a pullback, the sellers will likely lean on it to position for a drop into new lows, while the buyers will look for a break higher to pile in for a rally into the major trendline. EURUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we have a minor resistance zone around the 1.06 handle. This is where the sellers keep on stepping in to target the break below the 1.05 handle. The buyers, on the other hand, will need the price to break higher to start targeting new highs. The red lines define the average daily range for today. Upcoming CatalystsToday we conclude the week with the US PMIs.This article was written by Giuseppe Dellamotta at www.forexlive.com.

The Canadian dollar is lower on Friday. In the North American session, USD/CAD is trading at 1.3998 at the time of writing, up 0.16% on the day. On the data calendar, Canada releases retail sales and the US publishes the services and manufacturing PMIs. Canada’s retail sales expected to fall Canada’s retail sales for September

Today’s PMI figures were released and came in worse than analysts’ expectations. The Flash Manufacturing PMI and Flash Services PMI for both Germany and France fell below the 50.0 threshold, indicating that Europe’s economy is slowing down. This weakened the euro further and exacerbated the situation on the EUR/USD chart, which has been in a The post EUR/USD Breaks 2023 Low appeared first on Action Forex.

The British pound is lower for a straight third trading day on Friday. In the North American session, GBP/USD is trading at 1.2543, down 0.36% on the day. UK retail sales weaker than expected UK retail sales disappointed in October, with a sharp decline of 0.7% m/m. This follows a downwardly revised 0.1% gain in The post British Retail Sales Decline, Pound Extends Losses appeared first on Action Forex.

Market Picture Crypto market capitalisation surpassed $3.3 trillion, up 3.8% in the last 24 hours. Ethereum (+7.4%), Solana (+7.5%), XRP (+24%), and Cardano (+9.6%) provided traction. The price of Bitcoin broke through $99K on Friday morning, continuing its steady assault on all-time highs. A strong inflow of capital into spot BTC ETFs is fuelling the The post Crypto Market Buzzing in Anticipation of Regulatory Change appeared first on Action Forex.

Fundamental OverviewOverall, 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 TimeframeOn 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 TimeframeOn 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 TimeframeOn 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 CatalystsToday we conclude the week with the US PMIs.This article was written by Giuseppe Dellamotta at www.forexlive.com.

Retail trading has proliferated in popularity across Thailand in 2024 as many new and established investors look to diversify their portfolios. Asset classes such as Forex, commodities, CFDs, and others have long been attractive choices, given the propensity for volatility and the potential to capitalize on global currency market opportunities. With so many options to choose from however, selecting the right broker in Thailand requires some investigation and introspection. Retail Trading in ThailandThai traders are always looking for the best and most diverse offerings. Like any other retail investors, they often prioritize customer service, trading experience, and leverage. Starting one’s trading journey in Thailand should begin by seeking out only regulated brokers. Of note, all brokers’ daily operations are overseen by the local authority, the country’s Securities and Exchange Commission (SEC) and by the Bank of Thailand. All traders need to provide KYC data (Know your customer), usually in the form of your national ID or driving license, as brokers need to comply with AML requirements and other regulations.Brokers vary with the types of services on offer as well as several other differentiating attributes. Most commonly, this entails the amount of leverage on offer for Thai brokers. Typically, retail investors will find access to leverage across a wide spectrum. While not mandatory, many traders often seek out brokers with the highest leverage available in order to maximize their trading portfolio, despite the risks inherent.All major brokers in Thailand accept normal forms of payment. Following a basic account creation and verification, funding one’s account is straightforward. Leading brokers in the country all accept bank transfers, e-wallet, debit, or credit card, UnionPay, VISA, and Mastercard, etc. How to Choose the Top Brokers in ThailandThe domestic Thai market has some clear leaders in terms of quality brokers with services on offer for investors. While all investors have their own preferences and priorities, traders should be cognizant of some basic elements and indicators that the top brokers in the country have. This includes the following parameters that were considered:Regulation and jurisdictionAssets or markets on offerMobile trading capabilitiesHow easy it is to deposit and withdraw fundsQuality of customer serviceEducational content or resourcesTrading tools or platformsRange of available trading instrumentsBest Forex Brokers in Thailand1. Kama Capital Kama Capital distinguishes itself as one of the best brokers in Thailand for its large amount of assets on offer that help meet the needs of modern traders. The brokerage has made a name for itself via its innovative technology, robust support, and extensive educational resources. Kama Capital is the top-rated option in Thailand for investors who can take advantage of the broker’s regional market expertise and compliance framework. This is instrumental in providing both local and international traders with a transparent, versatile, and efficient trading environment.Kama Capital offers trading in multiple asset classes with competitive trading conditions, including leverage up to 1:400 and spreads starting from 0.5 pips. Traders can take advantage of MetaTrader 5 (MT5), the most advanced platform on the market. The broker offers a wide range of products as well, including currencies, major indices, spot CFDs, futures, oil, energy, metals, and commodities.With no minimum deposit, traders can utilize three different account options. Kama Capital is focused on innovation, teamwork, trust, and transparency in all transactions. Through its user-friendly website and mobile applications, the broker provides integrated financial institution services and currency trading options.Kama Capital FeaturesRegulation: FSA, SVGFSA, SCALeverage: 1:400Minimum spreads: 0.5 pipsMinimum deposit: $0Trading platforms on offer: MT5Benefits: Research and educational portal, free signals 2. FBSFBS provides plenty of localized support within Thailand, complete with educational resources for seminars and tutorials, as well as Thai-language customer support. This is backed by a sizable range of trading conditions catering to traders with varying levels of experience. Spreads start from 0.7 pips and offer a cost-effective option for Thai traders looking to invest with competitive pricing. The broker is known for its high leverage offering, which can go up to 1:3000. This helps traders to manage larger positions relative to their initial capital, though it also increases the potential for both gains and losses.FBS also offers a lot size range – this starts from 0.01 lots and goes up to 500 lots, enabling lower-risk trading and higher-volume strategies. Consequently, these conditions allow FBS to provide a variety of options that support different trading styles and approaches.FBS FeaturesRegulation: FSC, ASIC, CySECLeverage: 1:3000Minimum spreads: 0.7 pipsMinimum deposit: $5Trading platforms on offer: MT4, MT5, FBS AppBenefits: FBS Academy, strong Thai support with local seminars, tutorials, Thai-language customer service, high leverage.3. ExnessExness is another excellent option for Thai traders, with the online multi-asset brokerage being fully regulated by several different financial authorities, including CySEC, the FCA in the UK, and the FSA in Seychelles. The company offers access to a sizable range of tradable CFD instruments, including stocks and indices to cryptocurrencies, currency pairs, metals, and energy. Traders can use either the MT4 or MT5 for both desktop and mobile devices.Thai clients also have access to 24/7 customer support in multiple languages to ensure traders receive optimal trading conditions and a smooth trading experience. Exness has recently won several awards, making it one of the most popular brokers in the world. With tight spreads and no hidden charges, Exness is also a transparent option for investors in Thailand. Accounts can be opened with ease and funded with bank wire transfers, major credit cards, and E-systems such as Neteller and Skrill.Exness FeaturesRegulation: ASIC, IFSC, CySECLeverage: 1:unlimited (if eligible)Minimum spreads: 0.3 pipsMinimum deposit: $10Trading platforms on offer: MT4, MT5Benefits: High leverage and low spreads with strong international presence4. XMXM scores highly in terms of forex brokers operating in Thailand, having built an impressive track record for itself since its founding in 2009. Since then, it has worked on equipping traders of all skill levels with quality services, especially among Thai Forex traders.Novice traders starting their journey in Thailand can explore a solid database of educational materials, strong customer support, and interactive live trading rooms on a daily basis.The broker has access to both MT4 and MT5, with over 1,000 instruments, including Forex pairs, stocks, commodities, and indices. XM offers leverage for 1:888 and their spreads are as low as 0.1pips with regulation at CySEC, ASIC, and IFSC. A minimum deposit of $5 is required along with minimum trade of 0.01 for micro lots.XM FeaturesRegulation: ASIC, IFSC, CySECLeverage: 1:888Minimum spreads: 0.1 pipsMinimum deposit: $5Trading platforms on offer: MT4, MT5Benefits:Fast withdrawals, strong customer support5. ATFXATFX has developed into a solid option for online Forex and CFD trading in Thailand, having been established in 2014. The brokerage plenty of trading instruments, including Forex, commodities, indices, and cryptocurrencies, serving both retail and professional traders in Thailand and the broader Asia-Pacific (APAC) region.ATFX has on offer four main types of accounts: Standard, Edge, Premium, and Professional. These cater to various trading styles and experience levels. One of the most enticing reasons to trade with ATFX is its rock-solid regulation among top-tier authorities such as the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).The broker has worked to maintain a high level of security and transparency with client funds that are segregated in established banks. Its platform employs SSL encryption and two-factor authentication for enhanced security, supporting MT4. ATFX has over 43 forex pairs, precious metals like gold and silver, crude oil, indices, and share CFDs, ATFX provides a broad range of trading instruments and is a cost-effective option for traders.ATFX Features:• Regulation: FCA, CySEC, FSC, FSA• Leverage: 1:400 for retail clients• Minimum spreads: 0.0 pips on ATFX Edge account• Minimum deposit: $100• Trading platforms on offer: MT4, MT5, ATFX Trader• Benefits: Customer Support: Versatile customer support, tutorials and webinars for usersWrap-UpRetail trading in Thailand continues to expand heading into 2025, with a surge of interest coming from recent volatility and increased investor appetite. The aforementioned leading brokers in the country represent the top choices for investors looking to trade in 2024, both in terms of competitive trading conditions and localized support. As always however, before trading it is important to ensure that any broker you engage with complies with Thai regulations and aligns with one’s personal trading needs.FAQIs Forex trading legal in Thailand?Forex trading is legal in Thailand provided it is conducted through licensed brokers. This includes entities that are regulated by the Securities and Exchange Commission (SEC) of Thailand or other recognized authorities. However, trading with unlicensed or offshore brokers can carry legal and financial risks.What do I need to start trading Forex or other instruments with brokers in Thailand?As is the case in most jurisdictions, prospective traders need to verify their identity. This means that individuals need a trading account with a licensed broker. To open this, proof of identify (passport or national ID) and a funding source such as a Thai bank account or e-wallet are needed. While not mandatory, it is recommended to have basic knowledge of the Forex market and popular trading platforms like MetaTrader 4/5 or cTrader.Is there a best time to trade Forex in Thailand?Liquidity is above average throughout some periods, indicating that Thai traders can find lower trading costs due to the tighter spreads. In particular, the following periods are recommended (in local times):From 2 am to 5 am: overlaps with the last 2 hours in NYC’s trading session and Sydney’s first hour of tradingFrom 7 am to 8 am: overlaps with the first hour of Tokyo’s trading sessionFrom noon to 1 pm: overlaps with the last hour in Sydney’s trading sessionFrom 2 pm to 4 pm: manages to overlap with the first two hours in London and the last one in Tokyo’s trading sessions7 pm to 11 pm: overlaps with the first two hours of trading in NYC and the last two in London.What are the risks associated with Forex trading in Thailand?Forex trading can be highly speculative and carries significant risks, including market risks or currency price volatility that can lead to large losses. Additionally, this type of trading carries leverage risk, so understanding how this works can help prevent large losses. Regulation is also a key area since trading with unlicensed brokers may result in fraud or a lack of legal recourse.This article was written by Finance Magnates Staff at www.financemagnates.com.

UK retail sales fell by 0.7% in October, compared to estimates of a 0.3% drop. The UK economy only expanded by 0.1% in the third quarter. US initial jobless claims unexpectedly fell last week from 219,000 to 213,000. The GBP/USD price analysis shows weaker consumer spending in the UK, which has pushed the pound to... The post GBP/USD Price Analysis: Hits 6-Month Low as UK Sales Slump appeared first on Forex Crunch.

UK economic activity weakened in November, with the Composite PMI falling from 51.8 to 49.9, its first contraction in 13 months. Manufacturing PMI declined to a 9-month low of 48.6, down from 49.9, while Services PMI hit a 13-month low at 50.0, down from 52.0. Chris Williamson of S&P Global Market Intelligence noted that businesses The post UK PMI composite fall to 49.9, slips into contraction as post-budget sentiment worsens appeared first on Action Forex.

Japan’s core consumer inflation increased by 2.3% in October. 56% of economists expect the Bank of Japan to hike rates in December. US jobless claims unexpectedly fell to 213,000. The USD/JPY outlook shows a stronger yen amid increasing bets for a December rate hike by the Bank of Japan. However, the pair fluctuated on Friday... The post USD/JPY Outlook: Rising Bets for Rate Hike Boost Yen appeared first on Forex Crunch.