US ISM Services PMI slipped unexpectedly into contraction territory in May, falling from 51.6 to 49.9, its first sub-50 reading since June 2024 and well below market expectations of 52.0. The drop was driven by sharp declines in both business activity, which fell from 53.7 to the breakeven 50.0, and new orders, which plunged from […]
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Daily Pivots: (S1) 1.3645; (P) 1.3665; (R1) 1.3694; More… Intraday bias in USD/CAD stays on the downside as decline from 1.4791 is in progress. . Next target is 61.8% projection of 1.4414 to 1.3749 from Read more…
There was a fleeting uptick in sentiment overnight after US President Donald Trump spoke by phone with Chinese President Xi Jinping, calling the conversation “very positive” and announcing renewed lower-level trade talks. However, the initial Read more…
Key Highlights USD/JPY started a fresh decline below the 144.00 level. A connecting bullish trend line is forming with support at 143.40 on the 4-hour chart. EUR/USD is now gaining pace and might clear the Read more…