GERMAN MANUFACTURING BEATS EXPECTATIONS, SERVICES SECTOR GROWS S&P Global released Germany’s February PMI for manufacturing and services. Manufacturing activity outperformed expectations but remained in contraction. The services sector saw growth for the second consecutive month. Overall, mixed results for Germany’s economic sectors.
CANADA'S RETAIL SALES BEAT EXPECTATIONS IN JANUARY Canada’s retail sales grew by 2.7% in January, surpassing expectations of 1.7% growth. January’s growth follows a 0.7% contraction in December. Positive data signals strong consumer spending.
EUR/USD is trading below 1.0500 on Friday. German and Eurozone data showed only small growth in business activity for February. Investors are waiting for US PMI data for further market direction.
XAU/USD DOWN BUT NOT OUT AHEAD OF US PMI DATA Gold price pulls back from near all-time highs of $2,955, anticipating US PMI data. The US Dollar attempts a recovery despite sluggish US Treasury bond yields. Gold remains exposed to upside risks, with a positive daily technical setup.
Bitcoin: Its price has been moving between $94,000 and $100,000 since early February. A big price change may happen soon. Ethereum: Showing some strength in the market. Ripple: Struggling to stay stable.
GOLD RECOVERS FROM EARLY SELL-OFF AHEAD OF US PMI RELEASE Gold prices recover from early Friday losses, still below $2,940. Gold dropped over 1% from Thursday’s all-time high of $2,954. Price stabilizes around $2,930 ahead of US trading session. US President Trump hints at possible lifting
The US government released jobless claims data for the week ending February 14. More people applied for unemployment benefits than expected. 219,000 people applied, while experts expected 215,000. The previous week's number was 213,000 but was later revised to 214,000. This suggests the job
STOCK FUTURES LITTLE CHANGED AFTER WALL STREET SELL-OFF U.S. stock futures showed little movement early Friday. Dow Jones Industrial Average futures fell by 14 points (less than 0.1%). S&P 500 futures declined by 0.09%. Nasdaq-100 futures remained flat. The sell-off followed a weak earnings forecast
Gold price is going down slightly but is still strong. It is close to its highest price ever but not breaking past it. Worries about Trump's trade tariffs and a global trade war may help keep gold prices up. The weak U.S. dollar could also prevent gold
TREASURY YIELDS EDGE LOWER AS INVESTORS ASSESS ECONOMIC OUTLOOK U.S. Treasury yields declined slightly on Friday. 10-year Treasury yield dropped to 4.4896%, down less than one basis point. 2-year Treasury yield fell to 4.2597%, also down by less than one basis point. Investors await more economic data
JPMorgan changed its ratings for two European oil companies. BP’s rating was upgraded to "Neutral," and OMV’s rating was downgraded to "Underweight." The change is due to shifts in European gas supply and the possible end of the Russia-Ukraine war. BP’s connection to
JAPAN JANUARY CORE CPI 3.2% Y/Y VS. 3.1% EXPECTED Japan's headline inflation for January 2025 is 4.0%, up from 3.6% in December. Core CPI (excluding food) rises to 3.2%, above the expected 3.1%. Core-core CPI (excluding food and energy) stands at
PBOC SETS USD/CNY REFERENCE RATE AT 7.1696 PBOC sets the USD/CNY reference rate for today at 7.1696, lower than the estimated 7.2433. The PBOC determines the daily midpoint of the yuan under a managed floating exchange rate system. The yuan can fluctuate within a 2%
GBP/USD reached a two-month high of 1.2674 on Friday. It then dropped slightly but stayed around 1.2670 during the Asian session. The US Dollar weakened due to weak jobless claims data. Mixed signals from the Federal Reserve also affected the market. This helped GBP/USD stay strong
The stock market went down on Thursday. The Dow Jones dropped 162 points (0.4%). The S&P 500 fell 0.3% after hitting a record high. The Nasdaq went down 0.1%. Walmart's stock dropped because of a weak future outlook.
Netflix Investment: Netflix will spend $1 billion to make movies and TV shows in Mexico. Timeframe: This will happen over the next four years. CEO's Announcement: Netflix CEO Ted Sarandos shared this news in Mexico City. Local Partnerships: Netflix wants to work with more Mexican producers. Economic Impact:
BANK OF JAPAN GOVERNOR UEDA SEES UPSIDE IN HIGHER INTEREST RATES BOJ's monetary easing was key to meeting inflation targets. Ueda acknowledged side effects of the BOJ’s stimulus. Higher interest rates will boost financial institutions' profits long-term. The improving economy will offset the rise in corporate
Bitcoin's Price: Bitcoin stayed above $98,000 but did not rise much. Gold & S&P 500: Both reached new record highs. Comparison: Bitcoin did not perform as well as Gold and the S&P 500. VanEck's View: The investment firm VanEck said Bitcoin
AUD/USD Drops Below 0.6400: The Australian Dollar (AUD) fell under 0.6400 against the US Dollar (USD) on Friday. Brief High Earlier: It had briefly crossed 0.6400, the highest since December 12. US Dollar Strength: A stronger US Dollar pushed the AUD/USD lower. RBA Governor’s
EUR/USD is struggling near 1.0500 after recent gains. Trading lower during the Asian session on Friday. Chart pattern signals a possible drop (rising wedge pattern suggests a bearish reversal).
USD/JPY slows down: The currency pair struggles to rise above 150.50. Happening on Friday: This is during the Asian trading session. Japan’s inflation rises: Core CPI reached its highest in 19 months in January. BoJ may raise rates: Higher inflation supports expectations of more rate hikes. Japanese
US OIL INVENTORIES RISE MORE THAN EXPECTED US oil inventories for the week ending February 14 increased more than expected. Crude oil inventories rose by 4.633 million barrels, surpassing the expected 3.0 million barrels. This increase follows a 4.07 million barrel rise in the previous week.
Gold price is going down after reaching near record highs of $2,955 on Thursday. Even with the drop, gold is still set to gain for the eighth week in a row. The price change is happening before the US PMI data is released.
EUR/USD PRICE FORECAST: DECENT SUPPORT SEEN AROUND 1.0400 EUR/USD reversed three consecutive days of losses and climbed to 1.0480. The US Dollar lost momentum as investors reacted to tariff news. Market focus now shifts to Friday's flash PMIs. Renewed selling pressure on the US