The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The dollar is once again under pressure due to the increased likelihood of interest rate cuts in the U.S. this month. The euro, pound, and Japanese yen strengthened their positions at the end of last week, but during the Asian session today, pressure on many trading instruments has returned. Moving forward, everything will depend on fresh fundamental data.
In the first half of the day, data is expected on the manufacturing sector business activity index for Germany, France, the Eurozone, and the UK. Experts' expectations lean towards the indicators remaining at their previous, quite low levels, which will not provide a significant impetus for strengthening the euro. However, any unexpected positive data could provoke a brief rise in the European currency, though a sustained upward movement is unlikely without fundamental changes in the region's economy. Traders will closely monitor the dynamics of new orders and export figures to assess the prospects for industrial recovery next year.
Regarding the pound, data on the PMI index for the UK manufacturing sector is also expected in the first half of the day. In addition, reports on the number of approved mortgage applications and changes in the M4 money supply will be released. The PMI index is traditionally an important indicator of the state of British industry. Expectations are currently moderately pessimistic, given the country's overall economic situation. Weak PMI figures could heighten concerns about slowing economic growth and, consequently, put pressure on the British pound. Data on approved mortgages will provide insight into the state of the UK housing market. A decline in this figure may signal a slowdown in construction activity and an overall cooling of the economy. Changes in the M4 money supply are directly related to the Bank of England's monetary policy. An increase in M4 could stimulate inflation, which, in turn, could lead the central bank to maintain a wait-and-see position.
If the data aligns with economists' expectations, it is advisable to act based on the Mean Reversion strategy. If the data comes out significantly higher or lower than economists' expectations, the Momentum strategy would be the best to use.
For the EUR/USD Pair
For the GBP/USD Pair
For the USD/JPY Pair
For the EUR/USD Pair
For the GBP/USD Pair
For the AUD/USD Pair
For the USD/CAD Pair
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
