UK PMI Construction dropped from 58.2 to 56.4 in May, below expectation of 56.9. S&P Global said total activity expanded at the slowest pace since January. Housing remained worst-performing category. Optimism was lowest since August 2020. Tim Moore, Economics Director at S&P Global Market Intelligence: “May data signalled a solid overall rise in UK construction […]
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Markets Rating agency Moody’s dropped a little bombshell in late US dealings last Friday. It stripped the US of its top notch AAA-rating over, unsurprisingly, the budgetary situation: “We do not believe that material multi-year Read more…
Daily Pivots: (S1) 0.6382; (P) 0.6409; (R1) 0.6430; More… Intraday bias in AUD/USD remains neutral as range trading continues. Further rise is in favor as long as 0.6356 support holds. One the upside, break of Read more…
Global markets kicked off the week with a mild risk-off tone, driven by renewed concerns over US creditworthiness and mixed economic data out of China. Moody’s downgrade of the U.S. sovereign rating from Aaa to Read more…