Markets Monthly PMI’s were the headline story on global markets. EMU surveys at least were no happy reading. The composite EMU HCOB PMI declined from 50.9 to 50.1 suggesting an near standstill in activity. The Read more…
US PMI Manufacturing fell from 51.6 to 49.5 in July, a 7-month low. PMI Services jumped from 55.3 to 56.0, a 28-month high. PMI Composite rose from 54.8 to 55.0, a 27-month high. Chris Williamson, Read more…
BoC cuts overnight rate by 25bps to 4.50% as widely expected. The Governing Council is carefully assessing the “opposing forces” on inflation, where excess supply is lowering inflationary pressures, but shelter and some services are Read more…
The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet Read more…
While most airlines have now emerged from the CrowdStrike software breakdown that left them unable to use their online systems and having to cancel thousands of flights beginning July, 17 Dellta Air Lines (DAL) continues Read more…
The customer isn’t always right, or at least it’s not always right by a company’s bottom line. Just because people want something does not mean it makes sense for a business to give it to Read more…
Daily Pivots: (S1) 1.0832; (P) 1.0865; (R1) 1.0885; More….. No change in EUR/USD’s outlook and intraday bias stays on the downside. Fall from 1.0947 short term top should extend to 55 D EMA (now at Read more…
Alphabet shares were firmly lower in early Wednesday trading and are on pace to lose around $100 billion in market value after the Google parent posted solid second-quarter earnings but suggested its AI investment spending Read more…
Daily Pivots: (S1) 1.2884; (P) 1.2911; (R1) 1.2935; More… Range trading continues in GBP/USD and intraday bias stays neutral. Further rally is expected for with 1.2859 resistance turned support intact. Break of 1.3043 will resume Read more…
Daily Pivots: (S1) 0.8891; (P) 0.8908; (R1) 0.8930; More… USD/CHF’s sharp decline suggests that recovery from 0.8819 has completed at 0.8923, after rejection by 55 4H EMA. Intraday bias is back on the downside for Read more…