The Dow Jones failed to make meaningful headway on Tuesday. A trio of US data prints loom overhead throughout the week’s back half. With hopes of a September rate cut pinned, traders will be hoping for easing data. The Dow Jones Industrial Average (DJIA) went nowhere fast on Tuesday, sticking close to the day’s opening […]
China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) unexpectedly rose to 51.8 in June, against the 51.7 reading in May, according to the latest data released on Monday. The data beat the market forecast of 51.2 in the reported month. Key highlights (via Caixin) Output rises at quickest pace since June 2022 as new orders increase. Employment […]
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GBP/USD hit fresh lows on Friday as Cable extended declines. Upbeat US PMIs drive off risk appetite, bolster Greenback. GBP traders buckle down for a long wait to next Friday’s GDP. GBP/USD closed Friday at a fresh five-week low of 1.2622, marking the Cable’s third straight down week. The Bank of England’s (BoE) midweek rate […]
Eurozone Manufacturing PMI dropped to 45.6 in June, missing 47.9 estimate. Bloc’s Services PMI dipped to 52.2 in June vs. 53.5 anticipated. EUR/USD keeps losses below 1.0700 after German, Eurozone PMI data. The Eurozone manufacturing sector downturn gathered momentum again while the services sector activity deteriorated in June, according to the data from the HCOB’s latest purchasing managers […]
GBP/USD back below 1.2675 after BoE keeps rates pinned. BoE voting split remains unchanged at seven-to-two. Softer US data further eroded market sentiment, bolstering Greenback. GBP/USD slipped lower on Thursday after the Bank of England (BoE) held rates at 5.25%, citing ongoing concerns about the central bank’s ability to sustainably keep inflation at or below […]
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 […]
Share: USD/MXN stays pressured at the lowest level in three weeks while taking offers to 16.90 amid early Wednesday. In doing so, the Mexican Peso (MXN) pair ignores the broad US Dollar strength by printing a six-day losing streak amid downbeat options market bias for the pair, suggesting the market’s optimism for Peso. […]
Share: AUD/USD remains depressed at YTD low after five-week losing streak. Weekend news from China pauses further downside of Aussie pair ahead of top-tier data/events. PBoC is expected to cut benchmark rates after trimming other rates earlier in August. Aussie/US PMIs, Jackson Hole Symposium eyed for clear directions. AUD/USD holds lower grounds near […]
