UK PMI Construction was unchanged at 59.1 in March, better than expectation of 57.3. The latest reading signalled the join-fastest rate of output growth since June 2021. However, business optimism dropped to 17-month low. Tim Read more…
The US Dollar started a steady upward move above the 123.00 resistance against the Japanese Yen. The USD/JPY pair traded above the 123.20 level to move into a bullish zone. The pair even traded above Read more…
ECB Vice President Luis de Guindos said in a speech, “for the euro area, the financial stability impact of the war has so far been relatively contained.” And, “markets have generally been functioning well”, with Read more…
Gold has been trending downwards since early March when the price peaked at the 19-month high of 2,070. Although the price managed to halt its decline and currently experiences a consolidation phase, the technical picture seems Read more…
EUR/USD At the beginning of the European session, the bulls’ attempts to break the levels around 1.0981 were rejected and the single European currency continued its downward trend. The full control of the bears over Read more…
American stocks wavered on Tuesday as the Federal Reserve prepared to accelerate its tightening process. In a statement, Lael Brainard said that the bank will be aggressive in its bid to combat inflation. In addition Read more…
Markets We’ve stressed on multiple occasions that any correction higher in the core bond sell-off remain fairly limited both in terms of magnitude and in terms of length. Yesterday’s trading session confirmed this once more Read more…
Recent price action on USD/CAD suggests an important swing low may have already been seen. Asian Indices: Australia’s ASX 200 index fell by -36.6 points (-0.49%) and currently trades at 7,491.30 Japan’s Nikkei 225 index Read more…
Covid reared its ugly head again on economic data, which saw China’s service PMI contract at its fastest pace since the pandemic. Service sector activity in China was dragged lower due to the recent rise Read more…
Market movers today FOMC minutes from the March meeting will be released in the evening, and focus will be on any hints about the upcoming QT, more so than rate hikes. Fed’s Brainard said yesterday Read more…