December PMIs from China’s National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP). Manufacturing 47.0 prior 48.0 Services 41.6 prior 46.7 Composite 42.6 prior 47.1 Languishing with the renewed COVID-19 outbreak as China moved rapidly towards reopening. While widespread lockdowns are a thing of the past self-imposed isolation and illness
India’s leading broking firm ICICIdirect expects gold to touch Rs 62,000 per 10 gm, while silver will reach Rs 80,000 per kg in 2023. “In 2022, base metal prices experienced a roller-coaster ride due to uneven global economic growth and China’s limited trade participation. A deficit in the global base metals market is anticipated in
Economists at Credit Suisse expect the Chinese Yuan to continue weakening in the coming months. Asia FX complex is likely to remain weak in the first part of 2023 “The Asia FX complex is likely to remain weak in the first part of 2023 given the resilient USD trend.” “Some divergence across the region can
The strongest to weakness of the major currencies To start the last trading session in 2022, the JPY is the strongest of the major currencies while the GBP is the weakest. The USD is mixed. The JPY has restarted its upward bias after correcting from the December 19 low. The price peaked near the swing
There weren’t many safe havens in 2022 but energy was one of them. Oil finished today with a flurry, gaining $2.03 to $80.43 for the first annual close above $80 since 2013. It was far from a smooth ride though as oil surged to $130.50 on fears that Russian supplies would be cut off before
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Wealthtech platform ICICIdirect has predicted that in 2023 gold will rise towards Rs 62,000 per 10 gms touching all-time high and silver to rebound towards Rs 80,000 per kg. Other metals like copper will rally towards Rs 850/ kg and aluminium to remain elevated towards ₹ 260/ kg. Zinc will test at Rs 350 per
Yen’s rebound continues in Asian session today, and looks set to end as the best performer for the month. Swiss Franc follows as the next strongest with much help from buying against Euro and Sterling, and overall bearish market sentiment. Canadian and Australian Dollars are the worst in December for the same reason while Dollar
USD/JPY drops 0.70% on risk aversion and a softer US Dollar. USD/JPY Price Analysis: Downward biased, could extend its losses below 130.00, towards May lows around 126.00. The USD/JPY is falling for the second consecutive day as risk aversion continues to drive the last trading day of 2022, as shown by Wall Street registering losses.
CPI +0.3% m/m Prior -0.1% HICP +5.6% vs +6.0% y/y expected Prior +6.7% HICP +0.1% m/m Prior -0.3% That’s now five months running that annual inflation in Spain has been on the decline, since peaking at 10.8% in July. The drop is surely still largely to do with falling energy prices, with milder weather conditions
Gold held steady on Friday, but was headed for a second straight yearly loss as aggressive rate hikes by the U.S. Federal Reserve dented the non-yielding bullion’s appeal. * Spot gold was little changed at $1,815.20 per ounce as of 0042 GMT. U.S. gold futures fell 0.2% to $1,821.90. * Bullion was headed for an
The financial markets are trading more on the risk-on side as the year-end is approaching. But reactions in the forex markets are relatively mild. Yen continues to be the worst performer for the week but selloff is somewhat slowing. Euro and Sterling are soft with Dollar. Commodity currencies are the relatively stronger ones but have
Gold price defends the previous day’s bullish bias despite recent struggle around daily top. Mixed sentiment, sluggish markets restrict XAU/USD moves but buyers cheer second monthly gain as 2022 bids adieu. Hopes of economic recovery, lower rates could keep Gold buyers on the table even as Covid, geopolitics probe immediate upside. Gold price (XAU/USD) replicates
Between now and the end of the year (and into the start of the New Year), Greg Michalowski of Forexlive.com will be producing some video that take a look back at 2022 and then a look forward into 2023. He will start with more of a look back at the moves in the major currencies
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In this video I go over and break down My Forex Strategy that I Believe is Best Forex Strategy for Trading Gold or XAU/USD. I also go into some Practice Live Trades to put this strategy tot he test and it ends up being VERY Profitable. Let me know if you guys try out this