AR
ID
PT
ES
TH
ZH-HANT
ZH
DE
HOME
IT
MS
FR
JA
NL
FI
SI
SV
Call: +230 5869 0074 Mail: support.mu@gomarkets.com
Log in Open account
Log in Open account
AR
ID
PT
ES
TH
ZH-HANT
ZH
DE
HOME
IT
MS
FR
JA
NL
FI
SI
SV
Log in Open account
News & Analysis
Try free demo Open account
News & Analysis
Try free demo Open account

FX Analysis – EUR and GBP rally on PMIs, USDJPY tests key level.

24 November 2023 By Lachlan Meakin

Share

Markets were predictably quite due to holidays in the US and Japan on Thursday.

USD was marginally softer overall with DXY dropping to test the support at the 200-day MA before recovering modestly amid the holiday lull for Thanksgiving.

Source:TradingView.com

EURUSD managed mild gains with price action choppy around the 1.0900 level but eventually managed to hold that key level. There were several hawkish leaning comments from ECB officials and ECB Minutes noting that members argued in favour of keeping the door open for a possible further rate.

Source:TradingView.com

GBPUSD extended on its mid-week bounce and made further progress above 1.2500 after UK manufacturing and services PMI figures beat forecasts.

Source:TradingView.com

USDJPY ended flat for the session but not before a sharp dip reversed following a bounce off support at 149.00 and seeing the pair again settle above 149.50.

Source:TradingView.com

Ahead on Fridays , US traders will be mostly offline meaning another likely low volume session, we do have Manufacturing and Services PMI figures out of the US later today though.

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

News and Analysis

Join our mailing list to receive market news and monthly newsletters, delivered directly to our inbox.