US: Mixed manufacturing data – Deutsche Bank

Sandeep Kanihama FXStreet Contributor

Deutsche Bank analysts note that the US manufacturing PMI was revised up 0.4pts to 52.6, which matches the April levels once again.

Key Quotes

“To complicate the picture, 15 minutes later the November ISM manufacturing missed at 48.1 (vs. 49.2 expected). You could argue that the data has stabilised somewhat – the reading was only down 0.2pts from 48.1 and remains above the 47.8 low print from September. That being said, the gap to the PMI (and regional fed surveys) is muddying the waters.”

“In addition, the details didn’t add much encouragement with new orders down to 47.2, employment down to 46.6 and new export orders down to 47.9.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

GBP/USD bounces off four-day lows, still below 1.3500

GBP/USD sticks to the bearish tone on Thursday, coming down to the 1.3480 region in the latter part of the NA session. In the meantime, Cable’s weakness comes as investors continue to assess mixed UK data, poor US results, and the persistent uncertainty surrounding the US-Iran conflict.

EUR/USD looks apathetic around 1.1530

EUR/USD reverses Wednesday’s downtick and trades with modest gains in the 1.1530 region following the end of the NA session on Thursday. The pair’s tepid advance comes on the back of the absence of clear direction in the US Dollar despite tensions from the Middle East appear far from alleviated. Later on Friday, investors are expected to monitor the the releases of another revision of GDP figures in the Euroland, US Retail Sales and the preliminary U-Mich gauge.

$4,300 tested as Gold is down on profit-taking, but not out

Gold is testing the $4,300 level as the corrective downside extends into a second day early Friday. Traders remain focused on Middle East developments, Oil price action, and US Federal Reserve interest rate expectations before placing fresh positional bets.

SharpLink to stake $200 million in Ethereum through Lido

SharpLink Gaming announced plans to stake $200 million in Ethereum through Lido as part of its strategy to generate returns from its ETH treasury, according to a Thursday announcement. The allocation will be converted into wrapped staked ETH, which represents staked Ethereum and the associated staking rewards.

Dollar dominance is cracking and the Fort Knox Gold question won’t go away

Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.