GBPUSD is struggling to climb towards the upper Bollinger band which is residing within the 1.2633-1.2690 resistance zone following a price bounce in the vicinity of the 1.2160 support, logged back in May 2020. The Read more…
The S&P 500 index avoided moving to a bear market as investors reacted to a relatively positive statement by Joe Biden on tariffs. It rose by more than points on Monday. Similarly, the Dow Jones Read more…
Sterling tumbles broadly after the shockingly poor PMI services reading. GBP/CHF is finally accelerating down as the downtrend from 1.3070 extends. Near term outlook will now remain bearish as long as 1.2222 resistance holds. Next Read more…
UK PMI Manufacturing dropped from 55.8 to 54.6 in May, below expectation of 55.1, hitting a 16-month low. PMI Services dropped sharply from 58.9 to 51.8, well below expectation of 57.3, a 15-month low. PMI Read more…
Bitcoin continues its tedious walk around $30K in a narrow range of $28.6-30.6K. Ethereum lost 0.4%, while other leading altcoins in the top 10 fell between 1% (XRP) and 2% (Solana). The exception was Binance Read more…
Asian shares and US equity futures flashed red on Tuesday morning despite the rally on Wall Street overnight. Investors seem to be on edge this morning, adopting a defensive approach towards risk amid fears over Read more…
Eurozone PMI Manufacturing rose dropped from 55.5 to 54.4 in May, below expectation of 54.9, hitting an 18-month low. PMI Services dropped from 57.7 to 56.3, below expectation of 57.5. PMI composite dropped from 55.8 Read more…
In a Bloomberg TV interview, ECB President Christine Lagarde said, “we’re moving (deposit rate) very likely into positive territory at the end of the third quarter.” “When you’re out of negative (rates) you can be Read more…
The Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by another 50 basis points to 2.00% at its meeting tomorrow. The real focus will be on the accompanying Monetary Read more…
The Euro keeps firm tone in early Tuesday and rises above 1.07 mark, in extension of Monday’s 1.2% rally. Fresh risk appetite and hawkish comments from the ECB underpin recovery, but so far positive fundamental Read more…