By Gertrude Chavez-Dreyfuss and Stefano Rebaudo NEW YORK/MILAN (Reuters) -The U.S. dollar rose on Wednesday after data showed the services sector in the world’s largest economy rebounded in May after a contraction the month before, highlighting uncertainty surrounding the expected start of the Federal Reserve’s easing cycle later this year. The Institute for Supply Management […]
USDCHF breaks back above the 100 day MA. The USDCHF has moved above its 100 day MA after falling below it yesterday and going down to test and fail on break of the lower 200 day MA. Today, the price has gradually risen and the stronger ISM services has been able to push the price […]
The Bank of Canada (BoC) voted to cut interest rates at its June meeting from 5% to 4.75%, relying on its improved confidence that inflation is heading lower. The BoC highlighted the declining three-month measure of core inflation as one of the indications that CPI is heading lower but Governor Tiff Macklem also issued caution […]
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US ISM Services PMI rose more than expected in May. US Dollar Index edges higher toward 104.50 after the data. Business activity in the US service sector expanded in May, with the ISM Services PMI recovering to 53.8 from 49.4 in April. This reading came in above the market expectation of 50.8. Other details of […]
Gold (XAU/USD) Analysis and Chart Recommended by Nick Cawley Get Your Free Gold Forecast CCI indicator is at its lowest level since early May. Weaker US Treasury yields should underpin the precious metal. US ISM and the latest US Jobs Report will drive the next move. Gold is slightly better bid in mid-morning trade, aiming […]
By Fergal Smith TORONTO (Reuters) – The Canadian dollar is set to strengthen less than previously expected over the coming year if the Bank of Canada begins cutting interest rates ahead of the Federal Reserve and the U.S. election raises global trade uncertainty, a Reuters poll found. According to the median forecast of 40 foreign […]
Aussie GDP, AUD Analysis Aussie growth stalls in Q1, growing just 0.1% during the quarter Household spending dominated by essentials as discretionary purchases flatline AUD/USD appears unperturbed but the currency has sold-off notably in recent times The analysis in this article makes use of chart patterns and key support and resistance levels. For more information […]
I posted comments earlier from Fundstrat Global Advisors Managing Partner and Head of Research, Tom Lee on his S&P 500 forecast: He also spoke on Bitcoin, reiterating his USD150K forecast: There’s the tailwinds that are associated with halving that just take place. We also know, because of the Bitcoin ETF (exchange-traded fund), there have been […]
Yen leverages strength against the Kiwi on Tuesday, pushing the NZD/JPY pair closer to the 20-day SMA. Sellers face growing momentum, but significant support at 96.30 remains unchallenged. The pair might have entered in a consolidation period after hitting multi-year highs. On Tuesday, the NZD/JPY pair encountered sustained selling pressure as the Japanese Yen powered […]
US Dollar Setups: (EUR/USD, AUD/USD, USD/CHF) A path for a lower dollar comes into view as data deteriorates EUR/USD in focus ahead of ECB cut Dollar bulls look for a lower AUD/USD as risk appetite wanes, iron ore prices ease Swiss franc advances at pace but overheating warnings flash red A Path for a Lower […]
