Swiss CPI rose 0.3% mom in August, slightly below expectation of 0.4% mom. The monthly rise was due to several factors including rising prices for in-patient hospital services, social protection services and housing rentals. CPI Read more…
Good news is bad news, as good economic data supports the idea that the US economy could withstand an aggressive monetary policy tightening, therefore has a boosting effect on the US yields, and a negative Read more…
Market movers today Manufacturing PMIs for August are released in a range of countries. We expect a further drop in Swedish PMI manufacturing from July’s 53.1 in line with the drop in the euro area Read more…
Daily Pivots: (S1) 138.48; (P) 138.75; (R1) 139.22; More… Intraday bias in USD/JPY is back on the upside as rise from 130.38 resumes and picks up some momentum. Focus is now on 139.37 resistance. Sustained Read more…
Dollar is back in control in Asian session, with some help from risk averse sentiment. Euro is staying firm against Sterling and Swiss Franc, and is picking up upside momentum against commodity currencies. In particular, Read more…
China Caixin PMI Manufacturing dropped from 50.4 to 49.5 in August, below expectation of 50.2, back in contraction. Caixin added that output growth slowed as firms faced power supply disruption amid heatwave. New orders declined Read more…
Japan PMI Manufacturing was finalized at 51.1 in August, down from July’s 52.1. The health of the sector that was the joint-weakest since February 2021. S&P Global also noted new orders had the sharpest reduction Read more…
Australia AiG Performance of Manufacturing Index dropped from 52.5 to 49.3 in August, indicating the first contraction since January. Production fell -1.8 pts to 45.7. Employment dropped -2.6 to 47.5. New orders dropped -4.1 to Read more…
The Reserve Bank Board meets next week on September 6. We are confident that the Board will decide to raise the cash rate by a further 50 basis points to 2.35%. The Statement from the Read more…
Key Highlights Gold price started a major decline below the $1,750 support zone. It is following a key bearish trend line with resistance near $1,712 on the 4-hours chart. GBP/USD, AUD/USD and NZD/USD traded to Read more…