Daily Pivots: (S1) 1.6279; (P) 1.6316; (R1) 1.6342; More…. Range trading continues in EUR/AUD above 1.6211 short term bottom and intraday bias remains neutral. On the downside, firm break of 1.6211 support will resume the Read more…
Daily Pivots: (S1) 169.80; (P) 170.28; (R1) 171.10; More…. Intraday bias in EUR/JPY is back on the upside with breach of 170.78 temporary top. Rise from 164.01 would now target 171.58 resistance. Firm break there Read more…
In focus today Today in the US, we get the May ISM Manufacturing index at 16.00 CET. Its PMI-counterpart released earlier shifted modestly higher, but the leading new orders indices still pointed towards muted growth. Read more…
OPEC+ announced on Sunday that it will extend supply cuts to the Q3 but will gradually return barrels to the market over the following 12 months. The fact that OPEC has a clear time in Read more…
Daily Pivots: (S1) 199.60; (P) 200.06; (R1) 200.88; More…. Intraday bias in GBP/JPY remains neutral for the moment. Further rally is expected as long as 198.73 support holds. Firm break of 200.72 will confirm larger Read more…
Global markets started the week on a positive note, drawing momentum from the robust close last week in the US and buoyed further by slightly better than expected manufacturing data out of China. In Tokyo, Read more…
If you think it’s a teeny bit cheaper to fill your gas tank these days, you’re probably right. Crude oil is cheaper. More importantly, so are the fuels that earn oil refiners most of their Read more…
China’s Caixin PMI Manufacturing index edged up from 51.4 to 51.7 in May, surpassing expectations of 51.5. Caixin reported that production expanded at its most pronounced pace since June 2022, with the fastest growth in Read more…
Key Highlights EUR/USD started a consolidation phase below the 1.0900 resistance. A major bullish trend line is forming with support at 1.0820 on the 4-hour chart. Gold prices are still consolidating above the $2,320 support Read more…
Japan’s PMI Manufacturing index was finalized at 50.4 in May, up from 49.6 in April, crossing the 50 neutral mark for the first time in a year. S&P Global noted that both output and new Read more…