Intra-day Market Moving News and Views
05 Nov 2015 07:35GMT
EUR/USD - ........ Despite gaining respite in Asia and staged a minor recovery to 1.0877 after yesterday's selloff to a 3-month trough of 1.0844 in New York, the pair came under renewed selling pressure as euro bears gave the single currency a fresh bashing on downbeat German data at European open.
Reuters reported German industrial orders dropped unexpectedly in September, the third consecutive monthly fall, due mainly to weaker foreign demand, data showed on Thursday, in a sign that Europe's biggest economy may loose steam at the end of this year.
Contracts for 'Made in Germany' goods were down by 1.7% on the month, the economy ministry said. That compared with a Reuters consensus forecast for a rise of 1.0%.
German factories received 2.4% fewer bookings from abroad, driven by a 6.7% slide in demand from euro zone countries, while domestic orders fell by 0.6%.
The data for August was confirmed as a 1.8% fall.
"Overall, the industrial orders are currently in a weak phase," the ministry said.
News from Reuters, on ECB's SMETS comments:
-Sees risk that inflation expectations become unanchored.
-Governing council will make fresh assessment of the situation at next meeting.
-All options open to ECB, could adjust scope, make-up and term of bond purchases.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.