Kathy Lien
BK Asset Management
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
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EUR/USD remains heavy below 1.0550 as focus shifts to US ISM PMI
EUR/USD remians under heavy selling pressure below 1.0550 in early European session on Monday. The pair is dragged down by dovish ECB-speak and a firmer US Dollar following Trump tariffs threat on BRICS-fuelled flight to safety. Investors now look forward to US ISM Manufacturing PMI data due later in the day.
GBP/USD holds losses near 1.2700 on stronger US Dollar
GBP/USD consolidates losses near 1.2700 early Monday, reversing a major part of Friday's positive move. The slide is sponsored by a goodish pickup in the haven demand for the US Dollar, as traders remain wary over the latest Trump tariffs threat on BRICS nations. US ISM PMI is next in focus.
Gold price remains heavily offered amid renewed USD buying interest
Gold price meets with heavy supply on Monday and snaps a four-day winning streak. Rebounding US bond yields help revive the USD demand and weigh on the commodity. Trade war concerns and geopolitical risks do little to lend support to the XAU/USD.
Bitcoin consolidates while ETH, XRP rallies
Bitcoin consolidated on Monday following its recovery from last week's pullback. At the same time, Ethereum and Ripple extended their rallies, driven by investors reallocating capital from BTC to altcoins, signaling the potential for continued upward momentum.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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