by OverviewFX | Aug 22, 2024 | Forex
UK’s PMI data for August showed positive momentum across both the manufacturing and services sectors. PMI Manufacturing edged up from 52.1 to 52.5, surpassing expectations of 52.2 and marking a 26-month high. PMI Services also rose from 52.5 to 53.3, above the...
by OverviewFX | Aug 22, 2024 | Forex
WTI futures drop to their lowest level since January 17 Momentum indicators are heavily tilted to bearish side WTI oil futures (October delivery) have been in a steady retreat following their rejection at the 200-day simple moving average (SMA) in mid-August. On...
by OverviewFX | Aug 22, 2024 | Forex
There is just one to take note of on the day, as highlighted in bold.However, given the overarching theme in markets this week i.e. dollar weakness, the expiries for EUR/USD at the 1.1100 level may not matter too much. The pair is looking to secure a breakout as noted...
by OverviewFX | Aug 22, 2024 | Forex
Dollar extended its broad decline overnight following release of FOMC minutes, which confirmed that a vast majority of Fed members see a rate cut in September as appropriate. However, the market reaction was relatively muted, as this outcome has already been largely...
by OverviewFX | Aug 21, 2024 | Forex
ECB Governing Council member Fabio Panetta indicated today that the central has entered entering a phase of monetary easing following the rate cut in June. Speaking at an event, Panetta remarked, “The end of monetary restriction has already begun,” adding that...
by OverviewFX | Aug 21, 2024 | Forex
Daily Pivots: (S1) 1.1090; (P) 1.1112; (R1) 1.1151; More…. Intraday bias in EUR/USD remains on the upside for the moment. Firm break of 1.1138 resistance will target 161.8% projection of 1.0665 to 1.0947 from 1.0776 at 1.1232. On the downside, below 1.1071 minor...
