Daily Pivots: (S1) 1.3759; (P) 1.3809; (R1) 1.3847; More… USD/CAD’s breach of 1.3780 suggests that fall from 1.4791 is resuming. Intraday bias is back on the downside for 1.3727 fibonacci level next. On the upside, break of 1.3903 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery. […]
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UK PMI Services rose modestly from 49.0 to 50.2, while Manufacturing PMI edged lower from 45.4 to 45.1. As a result, the Composite PMI ticked up from 48.5 to 49.4, still below the 50-mark that Read more…
Germany’s Ifo Business Climate Index rose to 87.5 in May, up from 86.9 in April, offering cautious optimism that the economy may be stabilizing. The improvement was driven by a notable rise in the Expectations Read more…
Eurozone’s private sector returned to contraction in May, with PMI Composite falling from 50.4 to 49.5, a six-month low. The drag came from the services sector, where the PMI dropped from 50.1 to 48.9, its Read more…