US PMI Manufacturing dropped from 52.2. to 51.3 in August, a 25-month low. PMI Services dropped from 47.3 to 44.1, a 27-month low. PMI Composite output dropped from 47.7 to 45.0, a 27-month low. Siân Read more…
Daily Pivots: (S1) 136.89; (P) 137.27; (R1) 137.84; More… Further rise is expected in USD/JPY despite loss of upside momentum. Rise from 130.38 would target a test on 139.37 high. Strong resistance could be seen Read more…
Daily Pivots: (S1) 0.9592; (P) 0.9625; (R1) 0.9677; More… USD/CHF’s rally continues today and the break of 0.9648 resistance argues that whole triangle correction from 1.0063 has completed at 0.9369. Further rise should be seen Read more…
Daily Pivots: (S1) 1.1726; (P) 1.1782; (R1) 1.1822; More… Intraday bias in GBP/USD remains on the downside at this point. Current down trend should target 1.1409 long term support. On the upside, above 1.1835 minor Read more…
Daily Pivots: (S1) 0.9897; (P) 0.9972; (R1) 1.0018; More… Intraday bias in EUR/USD remains on the downside for the moment. Next target is 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860. Firm break Read more…
Euro’s selloff continues today after poor PMI data and stays as the worst performer for the week. Swiss Franc is also weak for now, together with Sterling. Dollar remains the strongest one, but struggle to Read more…
ECB Executive Board Member Fabio Panetta warned in a conference today, “the probability of a recession is increasing. If we will have a significant slowdown or even a recession, this would mitigate inflationary pressures.” “I Read more…
Stocks are cautiously higher Tuesday, but rising bond yields belie concerns over global growth prospects as the surging dollar adds to the ongoing energy market malaise. Updated at 8:48 am EST U.S. equity futures nudged Read more…
“Despite inflationary pressures, consumers continued to shop Macy’s as a style source and leading gifting destination,” said CEO Jeff Gennette. Macy’s (M) – Get Macy’s, Inc. Report shares moved higher Tuesday after the retailer posted better-than-expected Read more…
Eurozone PMIs contract again Business activity in the eurozone contracted for a second straight month in August. While the cost of living crises meant consumers reined in their spending, supply chain issues also hurt manufacturing. Read more…