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…
Daily Pivots: (S1) 200.82; (P) 201.10; (R1) 201.45; More… GBP/JPY is staying below 201.59 resistance for now and intraday bias stays neutral first. Further rally is expected as long as 198.90 support holds. Firm break Read more…
Daily Pivots: (S1) 169.70; (P) 170.01; (R1) 170.40; More… EUR/JPY’s break of 170.12 resistance suggests that corrective fall from 170.87 has completed with three waves down to 167.52. Rise from 164.01 might be ready to Read more…
Daily Pivots: (S1) 0.8440; (P) 0.8451; (R1) 0.8466; More… Intraday bias in EUR/GBP remains neutral for the moment. Consolidations form 0.8396 could continue with stronger recovery. But outlook will stay bearish as long as 0.8482 Read more…
Daily Pivots: (S1) 1.6054; (P) 1.6085; (R1) 1.6110; More… Intraday bias in EUR/AUD remains on the downside for now, despite some loss of momentum as seen in 4H MACD. Current down trend should target 100% Read more…