Daily Pivots: (S1) 0.7151; (P) 0.7177; (R1) 0.7205; More… AUD/USD is losing some upside momentum, but further rise is expected with 0.7034 support intact. Firm break of 0.7265 resistance will raise the chance of larger Read more…
Markets Core bonds were back on offer at the final trading day of the month. US Treasuries underperformed German Bunds on a combination of hawkish Fed speech (Waller), better-than-expected economic data (Chicago PMI, Conference Board Read more…
May is finally over, but inflation worries, the war, and high energy prices welcome the new month with us. Yesterday’s meeting between Joe Biden and Jerome Powell reminded investors that inflation is the policymakers’ primary Read more…
Market movers today Today focus will be on a range of PMI data released throughout the day. Manufacturing PMIs will be released for Sweden and Norway in the morning, followed by the revised final figures Read more…
Daily Pivots: (S1) 1.2624; (P) 1.2656; (R1) 1.2682; More… USD/CAD’s fall from 1.3075 is still in progress and intraday bias stays on the downside for 1.2401 support. Firm break there will argue that whole rebound Read more…
Strong rally in USD/JPY is the main focus in Asian session today, following the strong rebound in benchmark US treasury yields. Yen is also staying as the weakest one. But for now, Canadian Dollar and Read more…
BoC is widely expected to raise the Overnight Rate by another 50bps to 1.50% today. Governor Tiff Macklem had recently noted that interest rates may need to go above the neutral range, estimated to be Read more…
China Caixin PMI Manufacturing rose from 46.0 to 48.1 in May, below expectation of 49.4. Caixin said output and new orders both declined at slower rates. Suppliers’ delivery times continued to lengthen markedly. Output charges Read more…
Japan PMI manufacturing was finalized at 53.3 in May, down from April’2 53.5. S&P Global noted softer expansions in production and incoming new business. Supply chain disruption encouraged firms to bolster safety stocks. Input prices Read more…
Australia GDP grew 0.8% qoq in Q1, above expectation of 0.6% qoq. GDP also grew 3.3% through the year. Nominal GDP rose 3.7%. The GDP implicit price deflator increased 2.9%, the fastest rate since March Read more…