Month: May 2022

US ISM Services PMI dropped from 58.3 to 57.1 in April, below expectation of 59.0. Looking at some details, business activity/production rose from 55.5 to 59.1. New orders dropped from 60.1 to 54.6. Employment dropped Read more…

Markets Yesterday’s market moves may have been atypically erratic ahead of key events (see second bullet), but today’s for sure weren’t. US stocks open mixed while European equity markets fluctuated around opening levels and currently Read more…

GBPUSD is hovering around 1.2500 for the sixth consecutive trading session. But this stabilisation is more like the calm before the storm than a new balance point. The Pound enjoys a fragile equilibrium as investors Read more…

US stocks edge cautiously higher ahead of the Fed’s rate announcement. Aa 50 basis point hike is priced in, but what comes next? US futures Dow futures +0.2 % at 33211 S&P futures +0.2% at Read more…

Fed expected to hike by half-point The Fed holds its policy meeting later today, and any move other than a half-point hike would be a huge surprise. A half-point increase is significant, as it will Read more…

Daily Pivots: (S1) 1.0481; (P) 1.0530 (R1) 1.0567; More… EUR/USD is still bounded in consolidation from 1.0470 and intraday bias remains neutral. Upside of recovery should be limited by 1.0756 support turned resistance to bring Read more…

Daily Pivots: (S1) 1.2454; (P) 1.2511; (R1) 1.2550; More… Intraday bias in GBP/USD remains neutral as consolidation from 1.2410 is extending. In case of stronger recovery, upside should be limited below 1.2999 support turned resistance. Read more…

Daily Pivots: (S1) 0.9740; (P) 0.9770; (R1) 0.9819; More…. USD/CHF’s rally is in progress and intraday bias stays on the upside. Current rally should target next medium term projection level at 0.9864. On the downside, Read more…

Daily Pivots: (S1) 129.79; (P) 130.04; (R1) 130.38; More… Intraday bias in USD/JPY remains neutral as consolidation from 131.24 is still extending. Near term outlook remains bullish with 126.91 support intact. Break of 131.24 will Read more…