We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

This website does not provide services to residents of United States.

Trader Affiliates

Market News EUR/USD fluctuates around 1.0550 as investors anticipate fresh impetus from US ISM PMI data

EUR/USD fluctuates around 1.0550 as investors anticipate fresh impetus from US ISM PMI data

Prior to FOMC minutes and US ISM PMI data, EUR/USD is exhibiting a sideways profile around 1.0550. Lower business reliance on debt may have an effect on the US Manufacturing PMI. The German HICP has decreased due to the fall in energy prices and the government's one-time reimbursement of household energy bills.

Daniel Rogers

2023-01-04

375

During the Asian session, the EUR/USD pair detected a lackluster demand at the 1.0540 support. As investors await the release of the United States ISM Manufacturing PMI data for fresh indications, the major currency pair is generally exhibiting back-and-forth movement around 1.0550.

The major stayed on a downward trend on Tuesday, as risk aversion persisted among investors. Before the Federal Open Market Committee (FOMC) minutes, which are set to be released on Thursday, market players sold off the S&P500. The US Dollar Index (DXY) is exhibiting an inventory adjustment of approximately 104.40 and aims to extend its recovery moving forward.

On Wednesday, investors will monitor the announcement of the S ISM Manufacturing PMI, which is expected to fall to 48.5 from 49.0 before. As a result of the Federal Reserve's (Fed) decision to increase interest rates, corporations are relying less on debt, which will result in greater interest commitments. Consequently, a decline in investment decisions and an increase in existing capacity have an effect on the volume of manufacturing operations. In addition, a drop in retail demand has reduced industry output.

In addition to the Manufacturing PMI, the event that may effect the US Dollar is the New Orders Index, which is anticipated to rise to 48.1 from 47.2. The catalyst reflects the magnitude of forward demand, which may support a bullish extension of the USD Index's current trading range.

On the Eurozone front, the German Harmonized Index of Consumer Prices (HICP) has declined to 9.6%, but the market was anticipating a decline to 10.7% from 11.3%. According to Reuters, a considerable decline in the price index is supported by dropping energy prices and a one-time government reimbursement for family energy bills. This will please the European Central Bank (ECB), which is concerned about inflation rising.