FIBO Group Forex Daily Analysis 24/10/2022 -

FIBO Group Forex Daily Analysis 24/10/2022

Uploaded by Sandra Hopkins on October 24, 2022 at 2:10 pm

FIBO Group Forex Daily Analysis 24/10/2022

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Hi, everybody, it's FIBO Group and you are watching to the Market Watch review.

While the Asia Pacific region saw a rise in bourses, China and Hong Kong stood out. Foreign investors sold what seems to be a record number of mainland shares today.
Stoxx 600 in Europe is experiencing early losses, but US futures point to a lower opening.
Sterling is the best performer, with little change as sterling recovers from the US dollar's pre-weekend slide.
For the first time in weeks, gold briefly exceeded its 20-day moving mean. It was then sold to $1645.
After an increase of 0.5% last week, December WTI is down 1.5%.

Asia Pacific
Japan intervened in the foreign currency market earlier today. It injected more volatility. The dollar fell from JPY149.70 down to JPY145.55, but has since risen above 149.00. This is after dramatic price action that occurred before the weekend.
Japan's composite PMI increased to 51.7, from 51.0. This is the second monthly rise. While the manufacturing component slowed slightly, the services element grew.

Australia's preliminary composite PMI fell to 49.6 from 51.9. This is the first reading below 50 since January.
After the huge outside day that was recorded before the weekend, the Australian dollar saw initial follow-through buying. It reached a high of $0.6410, but it was slashed to $0.6285 due to earlier European activity.
Take note that Australia's budget for the future will be revealed tomorrow.

Europe
The eurozone composite PMI flash October fell to 47.1, down from 48.1. This was lower than expected. This is the sixth consecutive drop and the lowest level since May 2020.
Sunak, who led the UK party in the UK elections, could become Prime Minister and Party Leader as soon as tonight.

The euro's gains increased to nearly $0.9900 after Friday's impressive advance. The euro fell to 0.9820 on the European morning, but it was retraced.
The Sterling briefly traded at $1.1410 and stalled ahead of the high of 1.1440 last week. It is now back in the $1.13 region.

America.
The Fed is currently in a quiet period before the next meeting so the primary focus today will be on the preliminary PMI. For the fourth consecutive month, the composite is expected not to rise above 50.
The third quarter GDP estimate, which is due to be released on Thursday, is the highlight of the week.

No Canadian economic reports are available ahead of Wednesday's Bank of Canada meeting.
After the pre-weekend downturn, initial follow-through greenback trading saw it reach CAD1.3600. The risk-off mood prevailed and the US Dollar has now recovered to almost 1.3750.

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#forex #fibogroup #forextrading #trading #trader #finance #forextrader #workfromhome #fibo #traderlife #investing #money #makemoney #traderlife

Hi, everybody, it’s FIBO Group and you are watching to the Market Watch review.

While the Asia Pacific region saw a rise in bourses, China and Hong Kong stood out. Foreign investors sold what seems to be a record number of mainland shares today.
Stoxx 600 in Europe is experiencing early losses, but US futures point to a lower opening.
Sterling is the best performer, with little change as sterling recovers from the US dollar’s pre-weekend slide.
For the first time in weeks, gold briefly exceeded its 20-day moving mean. It was then sold to $1645.
After an increase of 0.5% last week, December WTI is down 1.5%.

Asia Pacific
Japan intervened in the foreign currency market earlier today. It injected more volatility. The dollar fell from JPY149.70 down to JPY145.55, but has since risen above 149.00. This is after dramatic price action that occurred before the weekend.
Japan’s composite PMI increased to 51.7, from 51.0. This is the second monthly rise. While the manufacturing component slowed slightly, the services element grew.

Australia’s preliminary composite PMI fell to 49.6 from 51.9. This is the first reading below 50 since January.
After the huge outside day that was recorded before the weekend, the Australian dollar saw initial follow-through buying. It reached a high of $0.6410, but it was slashed to $0.6285 due to earlier European activity.
Take note that Australia’s budget for the future will be revealed tomorrow.

The euro’s gains increased to nearly $0.9900 after Friday’s impressive advance. The euro fell to 0.9820 on the European morning, but it was retraced.
The Sterling briefly traded at $1.1410 and stalled ahead of the high of 1.1440 last week. It is now back in the $1.13 region.

No Canadian economic reports are available ahead of Wednesday’s Bank of Canada meeting.
After the pre-weekend downturn, initial follow-through greenback trading saw it reach CAD1.3600. The risk-off mood prevailed and the US Dollar has now recovered to almost 1.3750.

#forex #fibogroup #forextrading #trading #trader #finance #forextrader #workfromhome #fibo #traderlife #investing #money #makemoney #traderlife

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Tags: 24/10/2022, Analysis, Daily, FIBO, Forex, GROUP
Categories: News

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