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 U.S. dollar fell sharply against several risk assets yesterday for objective reasons.
As indicated by the data, ADP employment in the U.S. decreased by 32,000 in November, while economists had expected an increase of 19,000. The report published by Automatic Data Processing raised serious concerns about the state of the labor market in the world's largest economy. Such a significant discrepancy with forecasts indicates potential difficulties in business activity and, consequently, a decline in demand for the U.S. dollar. However, it's worth noting that the report may be distorted due to the recent government shutdown in the U.S., so there is still a chance that things aren't as bad as they seem.
In contrast, the euro, pound, and other risk assets received support from this news. It is believed that the European economy, while facing its own challenges, may prove more resilient to global economic shocks. Expectations regarding further actions by the European Central Bank also play a role, fueling interest in the euro.
Today, retail sales figures for the Eurozone for October are expected to be released in the first half of the day. This indicator, reflecting consumer activity, will be an important gauge of the region's economic health. Preliminary forecasts suggest little progress in retail sales growth, which could negatively impact the euro. If the data exceeds expectations, it could support the euro and extend the bullish trend in the EUR/USD pair.
As for the pound, data on the PMI index for the construction sector in the UK and a speech by Bank of England Monetary Policy Committee member Catherine L. Mann are also expected in the first half of the day. The PMI index, reflecting business activity in the construction sector, will provide important insights into the current state and prospects of one of the key sectors of the UK economy. A value above 50 points indicates expansion, while a value below 50 indicates contraction. Simultaneously, Catherine L. Mann's speech could shed light on the central bank's current views on the economic situation and future monetary policy. Given the high inflation, Mann's statements could significantly support the British pound.
If the data align with economists' expectations, it may be best to act based on the Mean Reversion strategy. If the data are significantly above or below expectations, it would be advisable to use the Momentum strategy.
*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।
