Tag Archives: trading psychology

U.S. Private Sector Employment Rises Much Less Than Expected In November

Private sector employment increased by much less than anticipated in the month of November, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment rose by 67,000 jobs in November after climbing by a revised 121,000 jobs in October. Economists had expected employment to jump by 140,000 jobs compared to the addition of 125,000 jobs originally reported for the previous month. “The job market is losing its shine,” said Mark Zandi, chief economist of Moody’s Analytics. “Job openings are declining and if job growth slows any further unemployment will increase.” The weaker than expected job growth came as a continued increase in employment in the service-providing sector was partly offset by a loss of jobs in the good-producing sector. The service-providing sector added 85,000 jobs, driven by healthcare and professional services, while the goods-producing sector lost 18,000 jobs. Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said job creation slowed across all company sizes but noted small companies continued to face more pressure than their larger competitors. The report said employment at small businesses edged up by 11,000 jobs, while large and mid-sized businesses added 27,000 jobs and 29,000 jobs, respectively….

Pound Spikes Up As Polls Suggest Tory Victory

The pound appreciated against its major counterparts in early European deals on Wednesday, as latest opinion polls suggested the ruling Conservative party securing a majority at the upcoming general election on December 12. Survey by YouGov for The Times and Sky News showed Tuesday that Tories had maintained its nine-point lead over the opposition Labour Party. The poll showed that Tory lead has fallen one point to 42 percent, while Labour was also down one point at 33 percent. The survey was conducted between December 2-3. It came after a Kantar poll put a 12 point lead for the Tories, at 44 percent, as against 32 percent for Jeremy Corbyn’s party. Survey results from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK service sector contracted the most in eight months in November but the pace of decline was slower than initially estimated. The final services Purchasing Managers’ Index fell to 49.3 in November from 50.0 in October. Although the reading was above the flash reading of 48.6, the index signaled the steepest drop since March. Sentiment improved as encouraging Chinese data helped investors shrug off concerns surrounding U.S.-China trade talks. A report showed that activity…

Oil Prices Rally Before OPEC+ Meet

Oil prices rose sharply on Wednesday amid expectations that OPEC and its partners, including Russia, will extend their current production agreement by three months when they meet later this week. Bullish inventory data also helped to lift prices. Benchmark Brent crude climbed nearly 2 percent to $62.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 1.7 percent at $57.05. The OPEC countries and its allies are preparing to approve deeper crude output cuts this week, when they meet in Vienna, according to Iraq, the group’s second-biggest producer. Iraq oil minister Thamer Ghadhban told reporters on Tuesday that a deeper cut is being preferred by a number of key members when they meet on Thursday and then on Friday. Meanwhile, according to the industry group American Petroleum Institute (API), crude oil inventories in the U.S. fell by more than expected last week. Stockpiles of crude oil fell by 3.7 million barrels, more than double expectations of a decline of 1.7 million barrels. The material has been provided by InstaForex Company – www.instaforex.com…

Gold 12.04.2019 – Watch for potential breakout of $1.484 to confirm further upside continuation

Gold is building pivots around Pitchfork ML and important resistance at $1.479. It is very common that after the price reach Pitchfork ML, we see multiply pivots to form around that ML. The breakout of the $1.484 will confirm further upside and potential test of $1.484,$1.500. Stochastic oscillator is showing overbought condition but at the same time I found that new high in reading, which confirms stronger money flow on the upside.Support levels are seen at the price of $1.472 and $1.466. Resistance levels are set at the price of $1.484, $1.494 and $1.503.The material has been provided by InstaForex Company – www.instaforex.com…

Pound Little Changed After U.K. PMI Data

Following the release of the UK Markit/CIPS final composite PMI for November at 4.30 am ET Wednesday, the pound changed little against its major rivals. The pound was trading at 1.3042 against the greenback, 141.88 against the yen, 1.2900 against the franc and 0.8487 against the euro around 4:35 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis of AUD/USD for December 04, 2019

Overview: The AUD/USD pair will continue moving downwards from the level of 0.6826 (this level coincides with the 38.2% of Fibonacci retracement levels in H4 chart). Accordingly, the Aussie is going to show signs of strength at the lowest price of 0.6820. Thus, it will be a good deal to sell below the level of 61.8% of Fibonacci retracement levels on H1 chart with the first target at 0.6771 and further at 0.6726. Equally important, 0.6726 will be acting as a strong support so it is going to be a good place to take profit, it also should be noted that this level of taking profit will coincide with around last bearish wave. On the other hand, in case a reflection takes place and the AUD/USD pair is not able to break through the resistance at the 0.6820 level, the market will further decline to 0.6726 in order to indicate a bearish market. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100. According to previous events, the AUD/USD pair has still been trapped between the level of 0.6826 and the 0.6726 level (those levels coincided…

Analysis of EUR / USD and GBP / USD for December 4. China is racing for new duties from Donald Trump

EUR / USD
On December 3, the EUR/USD pair completed without a fundamental change in the exchange rate. Despite the fact that the current wave marking involves the completion of the construction of the downward correctional part of the trend and the construction of a new upward trend, there are still doubts before the successful attempt to break the maximum of wave b that markets will be able to bring this scenario to life. Nevertheless, it will be possible to speak more confidently about the prospects for the euro currency after the peak of wave b remains below. If the attempt to break through the peak of wave b is unsuccessful, then the instrument can proceed to construct a horizontal wave structure.
Fundamental component:
On Tuesday, the news background for the euro-dollar instrument was weak. There were a lot of news and economic reports on Monday, which caused quite strong purchases of the euro. However, on Tuesday, there are no news except Donald Trump’s new threats to impose duties on the entire world, in particular the countries of Europe and China. It is the topic of the trade war with China that keeps many economists awake, as the next…

*Malaysia Oct Trade Surplus MYR 17.3 Bln, Consensus MYR 11 Bln

Malaysia Oct Trade Surplus MYR 17.3 Bln, Consensus MYR 11 Bln The material has been provided by InstaForex Company – www.instaforex.com…

Singapore PMI Hits Four-Month High – IHH

The private sector economy in Singapore swung back into expansion territory in November, the latest survey from IHH revealed on Wednesday with a four-month high PMI score of 50.4. That’s up from 47.4 in October and it moves back above the boom-or-bust line of 50 that separates expansion from contraction. Individually, an increase in new orders fueled the PMI’s rebound back into expansion, although business activity continued to decline. The rise in overall order book volumes was insufficient to drive business activity higher, as private sector output in Singapore declined in November. That said, higher demand did help curb the downturn to some extent, with the decline slowing notably from October. The material has been provided by InstaForex Company – www.instaforex.com…