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Market News

View the daily news commentary to obtain insight on the financial markets.

Mexican Peso dives hovers near key support level, signaling potential for further weakness

December 5, 2023, 5:04:36 PM UTC
Mexican Peso (MXN) falls on Tuesday, extending its losses against the US Dollar (USD) in the early morning North American session after the USD/MXN briefly tested the 200-day Simple Moving Average (SMA), a critical resistance level.
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Canadian Dollar looks for Tuesday recovery after early declines

December 5, 2023, 4:34:54 PM UTC
The Canadian Dollar (CAD) eased back further on Tuesday before making a late rebound on the day, shedding a third of a percent against the US Dollar (USD) before paring back the day’s declines to a more manageable level.
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AUD/USD extends its losses after RBA’s decision and solid US ISM data

December 5, 2023, 4:17:51 PM UTC
The AUD/USD prolonged its agony during the North American session after the Reserve Bank of Australia (RBA) kept interest rates unchanged, setting the Aussie Dollar (AUD) faith, spurring losses of more than 0.70%.
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Silver Prices Analysis: XAG/USD declines after strong ISM Services PMI and soft JOLTs, USD recovers

December 5, 2023, 4:05:40 PM UTC
In Tuesday's session, the XAG/USD metal is experiencing a downtrend, trading around the $24.18 mark.
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US Dollar steady as dust settles of JOLTS decline

December 5, 2023, 3:46:45 PM UTC
The US Dollar (USD) appreciates significantly in the European trading session on Tuesday after rating agency Moody’s downgraded China’s credit outlook from stable to negative due to rising debt.  More US Dollar
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Breaking: US JOLTS Job Openings fall to 8.7 million in October vs. 9.3 million forecast

December 5, 2023, 3:26:53 PM UTC
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the US Bureau of Labor Statistics (BLS).
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United States RealClearMarkets/TIPP Economic Optimism (MoM) came in at 40 below forecasts (45.2) in December

December 5, 2023, 3:13:38 PM UTC
United States RealClearMarkets/TIPP Economic Optimism (MoM) came in at 40 below forecasts (45.2) in December
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US ISM Services PMI rises to 52.7 in November vs. 52 expected

December 5, 2023, 3:05:00 PM UTC
Economic activity in the services sector expanded in November for the 11th consecutive month.
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United States JOLTS Job Openings below expectations (9.3M) in October: Actual (8.733M)

December 5, 2023, 3:01:21 PM UTC
United States JOLTS Job Openings below expectations (9.3M) in October: Actual (8.733M)
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United States ISM Services PMI above forecasts (52) in November: Actual (52.7)

December 5, 2023, 3:00:43 PM UTC
United States ISM Services PMI above forecasts (52) in November: Actual (52.7)
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United States ISM Services Prices Paid: 58.3 (November) vs previous 58.6

December 5, 2023, 3:00:14 PM UTC
United States ISM Services Prices Paid: 58.3 (November) vs previous 58.6
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United States ISM Services Employment Index increased to 50.7 in November from previous 50.2

December 5, 2023, 3:00:01 PM UTC
United States ISM Services Employment Index increased to 50.7 in November from previous 50.2
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United States ISM Services New Orders Index remains at 55.5 in November

December 5, 2023, 3:00:01 PM UTC
United States ISM Services New Orders Index remains at 55.5 in November
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EUR/USD Price Analysis: Further losses now target 1.0775

December 5, 2023, 2:56:39 PM UTC
- EUR/USD loses further momentum and challenges 1.0800. - Extra declines look likely once 1.0800 is cleared.
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USD Index Price Analysis: Next on the upside comes 104.21

December 5, 2023, 2:48:55 PM UTC
DXY extends the upside bias so far this week and flirts with multi-session tops in the 103.80/85 band on Tuesday.
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United States S&P Global Composite PMI remains unchanged at 50.7 in November

December 5, 2023, 2:45:03 PM UTC
United States S&P Global Composite PMI remains unchanged at 50.7 in November
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United States S&P Global Services PMI meets forecasts (50.8) in November

December 5, 2023, 2:45:02 PM UTC
United States S&P Global Services PMI meets forecasts (50.8) in November
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Oil tests low of November as supply surplus builds

December 5, 2023, 2:42:21 PM UTC
Oil prices are starting to look heavy as Crude prices snap the current floor around $74. Recent headlines that confirm Russian President Vladimir Putin is due to meet the Saudi Crown Prince Mohammed Bin Salman to discuss OPEC+ cooperation
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New Zealand GDT Price Index up to 1.6% from previous 0%

December 5, 2023, 2:17:23 PM UTC
New Zealand GDT Price Index up to 1.6% from previous 0%
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EUR/JPY Price Analysis: Further losses target 157.70

December 5, 2023, 2:08:16 PM UTC
EUR/JPY retreats for the seventh session in a row and breaches the key support at 159.00 the figure on Tuesday.
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India: Q3 GDP surprised to the upside – UOB

December 5, 2023, 1:57:19 PM UTC
UOB Group’s Head of Research Suan Teck Kin, CFA, and Associate Economist Jester Koh comment on the recent publication of Q3 GDP readings in India.
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United States Redbook Index (YoY) fell from previous 6.3% to 3% in December 1

December 5, 2023, 1:55:59 PM UTC
United States Redbook Index (YoY) fell from previous 6.3% to 3% in December 1
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Euro challenges the 200-day SMA near 1.0820, looks at US ISM

December 5, 2023, 1:35:45 PM UTC
The Euro (EUR) continues to face downward pressure against the US Dollar (USD), prompting EUR/USD to revisit the proximity of the 1.0800 region, where some decent contention seems to have emerged so far on Tuesday.
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USD/JPY remains capped below 147.45 ahead of US data

December 5, 2023, 1:33:52 PM UTC
Dollar recovery fails at 147.45 and keeps bears in charge.
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EUR/GBP remains vulnerable with upside attempts capped below 0.8590

December 5, 2023, 12:50:00 PM UTC
Euro recovery attempts fail below 0.8600. Eurozone Services PMI revised higher, yet into contraction levels.
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Indonesia: Inflation gathered traction in November – UOB

December 5, 2023, 12:33:00 PM UTC
Economist at UOB Group Enrico Tanuwidjaja and Junior Economist Agus Santoso review the latest inflation figures in Indonesia.
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Gold eases as US Dollar trims loses ahead of key US economic data

December 5, 2023, 12:18:00 PM UTC
Gold is pulling moderately lower, with the US Dollar favoured by the risk-off sentiment.
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Brazil Gross Domestic Product (YoY) above forecasts (1.9%) in 3Q: Actual (2%)

December 5, 2023, 12:01:03 PM UTC
Brazil Gross Domestic Product (YoY) above forecasts (1.9%) in 3Q: Actual (2%)
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Brazil Gross Domestic Product (QoQ) registered at 0.1% above expectations (-0.2%) in 3Q

December 5, 2023, 12:00:52 PM UTC
Brazil Gross Domestic Product (QoQ) registered at 0.1% above expectations (-0.2%) in 3Q
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India: RBI seen keeping rates unchanged – UOB

December 5, 2023, 11:38:00 AM UTC
Economist at UOB Group Lee Sue Ann expects the RBI to maintain its policy rates unchanged at 6.50% at its event later in the week.
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