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The Swiss National Bank has decreased its overnight deposits by 77.5 billion Swiss Francs during the previous week. This was the biggest drop since 2011.
The EUR/USD broke the resistance zone at 0.9865/0.9875 on Tuesday morning. In general, the pair was expected to test the 0.9900 level, weekly R1 simple pivot point at 0.9925 and the 0.9950 level, before reaching parity. Note that the 0.9950 level kept the pair from declining from September 13 up to September 21. On the other hand, a decline of
In September factory activity in the Euro Zone had continued to decrease and reached a 27-month low level.
Credit Suisse and Citigroup have decreased their 2022 targets for the S&P 500 indices, as US stock markets have continued to decline during ongoing central bank monetary tightening.
On Monday, at 14:00 GMT, the US Institute for Supply Management Purchasing Managers Index for the Manufacturing sector was published. The survey results came in at 50.9, compared to the market forecast 52.5. The new of lower than expected conditions in the industry caused a broad sell off of the US Dollar. The Dollar index lost 59 points or
At 14:00 GMT on Monday, the price for gold reacted to US data. Namely, the US ISM Manufacturing PMI was revealed to b at 50.9, compared to forecast 52.5. The event resulted in a broad drop of the US Dollar. On the gold charts the price spiked through the resistance of 1,680.00 and 1,685.00. Economic Calendar Analysis This week, the rate is
On Monday morning, the USD/JPY finally ended trading sideways. The sideways trading ended with the rate breaking the resistance of the 144.70/145.00 zone. The rate shortly tested the weekly R1 simple pivot point at 145.34, before retreating to the combined support of the 50 and 100-hour simple moving averages and the 144.70 level. Economic Calendar This week, the rate is expected to
On Monday, the GBP/USD pair was approaching the 1.1300 mark, as the recovery of the Pound against the US Dollar continued. Economic Calendar This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing
Since Friday, the EUR/USD has been trading in the 0.9750/0.9850 range. In the meantime, the hourly simple moving averages, which had reached the rate, failed to impact it. In general, Friday's forecasts remain unchanged. Economic Calendar Analysis This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the
Mercedes-Benz company has revealed that a new trade deal between the European Union and India might result in India turning into a production hub.
At 14:00 GMT on Monday, the price for gold reacted to US data. Namely, the US ISM Manufacturing PMI was revealed to b at 50.9, compared to forecast 52.5. The event resulted in a broad drop of the US Dollar. On the gold charts the price spiked through the resistance of 1,680.00 and 1,685.00. An extension of the surge of the
On Monday morning, the USD/JPY finally ended trading sideways. The sideways trading ended with the rate breaking the resistance of the 144.70/145.00 zone. The rate shortly tested the weekly R1 simple pivot point at 145.34, before retreating to the combined support of the 50 and 100-hour simple moving averages and the 144.70 level. A move above the 145.00 level might result
On Monday, the GBP/USD pair was approaching the 1.1300 mark, as the recovery of the Pound against the US Dollar continued. However, this round exchange rate level has not impacted the pair during its late September decline. Instead, watch the 1.1350 and 1.1450 levels, which acted as resistance and support during the second part of the month. On the other hand, a
Since Friday, the EUR/USD has been trading in the 0.9750/0.9850 range. In the meantime, the hourly simple moving averages, which had reached the rate, failed to impact it. In general, Friday's forecasts remain unchanged. A surge of the pair would have to break the 0.9850 level, before testing the 0.9865/0.9875 zone, the 0.9900 level and the weekly R1 simple pivot
The electric vehicle maker Tesla has revealed third quarter results. Due to logistics issues for the company it has delivered less vehicles than the market expected. Markets expected 359,162 new cars to reach their drivers, compared to the actual number of 343,830. The company's stock price reacted to the news with an immediate drop at the start of the day's
An Italian court has scrapped antitrust fines for Apple and Amazon. The companies had been fined for alleged collusion.
The electric vehicle maker Tesla has revealed that in the third quarter of 2022 due to logistics issues for the company has delivered less vehicles than the market expectations. Markets expected 359,162 new cars to reach their drivers, compared to the actual number of 343,830.
The Toyota Motor Company has announced that it would reduce its October output target by 6.3% due to a shortage of semiconductors.
The Reserve Bank of India has hiked its base interest rate by 50 points. Analysts have commented on the event by expressing that additional hikes are to be expected, as the central bank battles inflation.
In the second quarter of 2022, the UK economy had grown by 0.2%, compared to an expected decline of 0.1%. However, the British economy remains below pre-pandemic size.
The German government has agreed upon a 200 billion Euro subsidy package, which would shield consumers from rising energy prices.
The 1.3750 level has been keeping the pair down since early Thursday's trading. As described on Thursday, the pair has been respecting round price levels. Throughout this week, the USD/CAD currency pair has been respecting the resistance of the 1.3800 mark and a zone just above it. Meanwhile, support has been provided by the 1.3600 and 1.3650 levels. A move above
On Friday, the GBP/JPY currency pair surged to the 162.00 level. The round level acted as resistance and kept the pair down. A move above the 162.00 level would face no technical resistance as high as the weekly R2 simple pivot point at 167.46. However, note that the round exchange rate levels in the five point range are highly likely going
This week, the world's second largest fashion retailer started a $177 million cost saving campaign. The company has experienced lower income due to increasing costs and decreasing consumer spending.