UK PMI Services was finalized at 50.8 in January, slipping from December’s 51.1, marking its joint-lowest level in 15 months. PMI Composite edged up slightly to 50.6, indicating that overall economic activity remains stagnant, with minimal expansion. According to Tim Moore, Economics Director at S&P Global Market Intelligence, “stagflation conditions appeared to take a firmer […]
The post UK PMI services finalized at 15-month low, stagflation concerns rise appeared first on Action Forex.
Daily Pivots: (S1) 153.84; (P) 154.68; (R1) 155.18; More… Intraday bias in USD/JPY remains on the downside for 38.2% retracement of 139.57 to 158.86 at 151.49. Strong support could be seen from there to complete Read more…
Daily Pivots: (S1) 0.9015; (P) 0.9082; (R1) 0.9117; More… USD/CHF dips further today as consolidation from 0.9200 extends, but stays well above 0.8956/64 support. Intraday bias stays neutral first. Outlook will remain bullish as long Read more…
Daily Pivots: (S1) 1.2410; (P) 1.2451; (R1) 1.2524; More… GBP/USD’s corrective rebound from 1.2099 extends through 1.2522. But upside is still expected to be limited by 38.2% retracement of 1.3433 to 1.2099 at 1.2609. On Read more…