U.S. Manufacturing PMI Rises More Than Expected But Still Indicates Contractionfxcue.com

(fxcue news) - The Institute for Supply Management released a report on Monday showing its reading on U.S. manufacturing increased by more than expected in the month of November but continued to indicate a contraction. The ISM said its manufacturing PMI rose to 48.4 in November from 46.5 in October, although a reading below 50 still indicates contraction. Economists had expected the index to inch up to 47.5. The bigger than expected advance by the manufacturing PMI came amid a turnaround by new orders, as the new orders index jumped to 50.4 in November from 47.1 in October. The report also said the production index crept up to 46.8 in November from 46.2 in October, while the employment index surged to 48.1 in November from 44.4 in October. Meanwhile, the ISM said the prices index slumped to 50.3 in November from 54.8 in October, suggesting just a modest increase by raw materials prices. The ISM is scheduled to release a separate report on service sector activity in the month of November on Wednesday. Economists currently expected the ISM's services PMI to edge down to 55.6 in November from 56.0 in October, but a reading above 50 would still indicate growth.

U.S. Manufacturing PMI Rises More Than Expected But Still Indicates Contraction

Canadian Market Modestly Higher; Materials

Pound Falls Against Majors

Swiss Franc Climbs Against Most Majors

Additional Upside Anticipated For Thai Stock Market

Dollar Tumbled Last Week After An Eight-week Rally

Indonesia Stock Market May Find Traction On Tuesday

U.S. Manufacturing PMI Rises More Than Expected But Still Indicates Contraction

European Stocks Close Higher Ahead Of Key Economic Data

Please sign in

Trader

Crude oil, focus on resistance at $70.6-71.5 above and support at $69.3-68.5 below.

Today, the rebound in gold trading is mainly driven by short selling, supplemented by buying during a pullback. The short-term focus is on the resistance line of 2620-2625 above, and the short-term focus is on the support line of 2600-2598 below.

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Tags

U.S. Manufacturing PMI Rises More Than Expected But Still Indicates Contraction

Canadian Market Modestly Higher; Materials

Pound Falls Against Majors

Swiss Franc Climbs Against Most Majors

Additional Upside Anticipated For Thai Stock Market

Dollar Tumbled Last Week After An Eight-week Rally

Indonesia Stock Market May Find Traction On Tuesday

U.S. Manufacturing PMI Rises More Than Expected But Still Indicates Contraction

European Stocks Close Higher Ahead Of Key Economic Data

Please sign in

Trader

Crude oil, focus on resistance at $70.6-71.5 above and support at $69.3-68.5 below.

Today, the rebound in gold trading is mainly driven by short selling, supplemented by buying during a pullback. The short-term focus is on the resistance line of 2620-2625 above, and the short-term focus is on the support line of 2600-2598 below.

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Tags

关注我们的公众号