Month: June 2024

In the Daily timeframe, USDCAD is in a long-term bullish trend, and the price has fallen to the trend line. Despite a minor correction, the price bounced off the trend line and is testing an Read more…

Market picture The crypto market failed to get on a growth path, with its capitalisation falling 1.5% to $2.35 trillion in the last 24 hours. Cryptocurrencies have had their wings clipped by the sell-off in Read more…

USDCAD eases below 1.3700; could attract new sellers in short-term Next support could emerge within 1.3600-1.3622 territory US S&P Global PMIs, Canadian retail sales on the agenda USDCAD has been tiptoeing to the downside for Read more…

UK’s PMI data for June presents a mixed picture. Manufacturing PMI slightly increased from 51.2 to 51.4, surpassing the expectation of 51.0 and marking a 23-month high. However, Services PMI fell from 52.9 to 51.2, Read more…

Eurozone’s PMI data for June revealed significant declines, with Manufacturing PMI falling from 47.3 to 45.6, below the expected 45.6. Services PMI also dropped from 53.2 to 52.6, missing the forecast of 53.5. Consequently, Composite Read more…

UK retail sales volume rose 2.9% mom in May, above expectation of 1.5% mom. More broadly, sales volumes rose by 1.0% in the three months to May 2024 when compared with the previous three months. Read more…

Gold price started a fresh increase above the $2,335 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.50. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started Read more…

Markets US invertors returning after Wednesday’s Juneteenth holiday found some disappointing, admittedly mostly second tier, US data (jobless claims at a high 238k, housing starts and permits declining and the Philly Fed business outlook unexpectedly Read more…

The Swiss National Bank (SNB) cut its rate by another 25bp yesterday. The latest uptick in inflation didn’t bother the Swiss policymakers who considered that inflation remains in check in Switzerland. They preferred to give Read more…

In focus today After yesterday’s hawkish surprise from Norges Bank, we revise our call for the first rate cut to come in March 2025 rather than September this year, see more below. This morning at Read more…