Japan PMI Manufacturing dropped slightly from 53.5 to 53.2 in May, below expectation of 53.8. PMI services rose from 50.7 to 51.7. PMI Composite ticked up from 51.1 to 51.4. Usamah Bhatti, Economist at S&P Read more…
Australia PMI Manufacturing dropped from 58.8 to 55.3 in May. PMI Services dropped from 56.1 to 53.0. PMI Composite dropped from 55.9 to 52.5. All are 4-month lows. Jingyi Pan, Economics Associate Director at S&P Read more…
New Zealand retail sales volume (with price effects removed) dropped -0.5% qoq in Q1, much worse than expectation of 0.4% qoq. Ex-auto sales volume was flat, below expectation of 0.4% qoq. Total value of retail Read more…
DXY: On the H4, with prices below the ichimoku indicator, we have a bearish bias that price will drop to our 1st support at 101.560 where the horizontal swing low support, 127.2% Fibonacci extension and Read more…
Kansas City Fed President Esther George said, “I expect that further rate increases could put the federal funds rate in the neighborhood of 2% by August, a significant pace of change in policy settings”. Then, Read more…
Atlanta Fed President Raphael Bostic said yesterday that he backed the plan of raising interest rate by 50bps in June and July. But a “pause” in September is also in his baseline view. “I’m at Read more…
Short Term Elliott Wave View in Copper (HG #F) suggests cycle from 4/5/2022 high ended as a 5 waves impulse structure at 4.0372. This impulse wave lower ended wave 1 in red. Wave 2 corrective Read more…
We looked at the potential for a weaker USD last week and this is now playing out well. As can be seen in this piece I previously wrote, largely as a result of USDCNH topping Read more…
Over the weekend, ECB President Christine Lagarde blogged about monetary policy in the Euro Area. The usually dovish-leaning Lagarde summarized her opinion by noting that because the inflation outlook has shifted notably upward, she expects Read more…
The Reserve Bank of New Zealand meets on Wednesday this week to discuss Monetary Policy. Expectations are that the central bank will raise interest rates by 50bps from 1.5% to 2%. At the last meeting Read more…