Purchasing managers’ indices are released on Tuesday (PMI) of various European countries and the eurozone as a whole. If the data is located below 50 expansion signalwould another reason to take the EUR/USD pair below parityreport economists from Commerzbank. Things could start to get tough for the euro now “If PMIs reinforce recession fears by […]
Tag: PMI
Copper: The price continues to improve thanks to supply and demand, and concerns about China
The depletion of inventories and the heat wave in China restrict the supply of the industrial metal. Expectations of more stimulus from China are coupled with a pullback in yields. The Copper price swings around one-week highs, reversing the previous day’s pullback, as a weakening dollar joins hopes of further supply tightening. Hopes that China […]
Gold Forecast: XAU/USD Sinks on Risk Appetite, Rising US Bond Yields
Gold price retreats from $1,770 on boost from US bond yields. The general strength of the US dollar and the risk impulse, headwinds for gold. Gold Price Forecast (XAUUSD): The failure of the sellers at $1,787 caused the pair to stumble towards the $1,750 area. the price of gold down from $1,770 highs on high […]
US: Business activity in manufacturing and services declined in July
Business activity in the US services sector fell in July for the first time in two years, according to the latest S&P Global PMI data. In particular, the final PMI for business activity in services fell to 47.3 in July, beating the initial reading of 47.0, but well below June’s reading of 52.7. Readings below […]
UK: Final services PMI revised down to 52.6 in July vs. 53.3 expected
UK Final Services PMI is revised down to 52.6 in July. GBP/USD keeps its recovery mode intact around 1.2200 after the dismal data. The focus is on US-China tensions over Taiwan and US services PMI data. UK services sector activity expanded less than expected in Julyas confirmed on Wednesday by the final report of IHS […]
Canada: S&P Global Manufacturing PMI falls to 52.5 in July vs. 55.7 expected
Canada’s global manufacturing PMI falls in July. USD/CAD is holding on to small daily gains above 1.2850. Business activity in the manufacturing sector Canada it expanded at a softer pace in July than in June, with the S&P Global Manufacturing PMI falling to 52.5 from 54.6. This data was lower than market expectations of 55.7. […]
GBP/USD bulls return to key 1.2250 zone
GBP/USD bulls re-establish near 1.2250 but keep charging. The US dollar is weighed down after the Fed’s monetary policy easing. The GBP/USD trades at 1.2254 and rises on the day on the back of US dollar weakness following Wednesday’s Fed meeting and a statement that left futures markets tied to Fed policy expectations tilted towards […]
AUD/USD rises to fresh two-month highs ahead of RBA interest rate decision
AUD/USD retraces the 0.7000 level, a level last seen on June 13. Sentiment is mixed, but AUD/USD was bolstered by a soft US dollar and the RBA decision. US ISM manufacturing data remains in expansionary territory, although prices and new orders fell. The AUD/USD rises above 0.7000 in a session of mixed sentiment, spurred by […]
EUR/USD rises strongly after strong US PMI report.
EUR/USD rises on risk appetite, despite rising tensions between the US and China. US manufacturing PMI remains in expansion territory, although new orders fall. Eurozone PMIs remain in contraction zone, while German retail sales slump. The EUR/USD advances for the fourth day in a row, amid an upbeat environment, as investors shrug off US-China tensions […]
US: Manufacturing PMI at a two-year low in July
US manufacturing activity slowed further in July, two separate reports out today confirmed that the inflation rally and ongoing disruptions in global supply chains continue to weigh on the sector. In particular, the Institute for Supply Management (ISM) announced today that its index of the path of manufacturing activity at the national level fell to […]
