S&P Global Services PMI in the US falls modestly in June. The DXY dollar index is holding on to strong daily gains near 107.00. Business activity in the US services sector expanded at a softer pace in June that in May, with the S&P Global services PMI falling to 52.7 points (final) from 53.4 in […]
Tag: United States
US: Factory orders rise 1.6% in May, vs. 0.5% expected
US factory orders rose at a faster-than-expected pace in May. The dollar continues to outperform its rivals after the data. Data released by the US Census Bureau revealed on Tuesday that new orders for manufacturing goods, factory orders, increased 1.6%, or $8.4 billion, to $543 billion in May. This data followed the increase of 0.7% […]
US: ISM manufacturing index for June is consistent with a slower pace of activity – Wells Fargo
Data released on Friday showed the ISM manufacturing PMI fell more than expected in June to 53, the lowest level in two years. According to Wells Fargo analyststhe details of the report show slower activity in the manufacturing sector, but also that supply problems continue to slowly ease. Featured Statements “The ISM manufacturing index fell […]
AUD/USD recovers the 0.6800 level although remains under pressure in a mixed environment
AUD/USD hit a new all-time low around 0.6776. The US manufacturing PMI for June continued to expand but at a slower pace. The Australian and Chinese PMIs were better than expected, but a jump in US bond yields prevented the pair from recovering further. The AUD/USD plummeted to new record lows near 0.6776, following damaging […]
EUR/USD falls below 1.0400 after disappointing US ISM
EUR/USD tumbled more than 100 pips after US ISM disappointed forecasts, but remained in expansionary territory at 53.0 The greenback was bolstered by a counter-cyclical move, meaning poor growth related data from the US could push the dollar higher. EU inflation topped 8.5% year-on-year, in line with figures from France, Spain and Germany. The EUR/USD […]
US: Pending home sales up 0.7% in May vs. -3.7% expected
US pending home sales increased modestly in May. The US Dollar Index remains in negative territory below 104.00. Monthly data published by the National Association of Realtors showed on Monday that Pending Home Sales increased 0.7% on a monthly basis in May after April’s decline of 4%. This data was better than the market expectation […]
EUR/USD Price Analysis: Euro pulls away from daily highs after US data.
EUR/USD spiked to a three-day high on Monday, although it took a while to break above the 1.0600 level. Repeated failures near the 50-day SMA warrant caution before positioning for any significant gains. The break below the uptrend line from two weeks ago would change the bias in favor of the bearish traders. The pair […]
USA: The G7 continues to work on a precise mechanism to limit Russian oil prices
With the G7 Summit underway, A US official said on Monday that the G7 is close to setting a global price cap on Russian oil.. Featured Comments “We will issue coordinated measures tomorrow to increase pressure on Russia.” “Targeting Russian oil transportation services is a promising avenue.” “The US will impose higher tariffs on Russian […]
EUR/USD: The road to 1.16 will be much longer – Commerzbank
What will EUR/USD do in the event of a US recession? The Commerzbank economists still expect the pair to reach the 1.16 level, but it will take much longer than expected. The US dollar will relax significantly in 2023 “Ongoing risks of a recession are likely to put continued pressure on the euro for longer […]
US: IMF cuts 2022 GDP growth to 2.9%, says path to avoid recession is ‘narrowing’
US gross domestic product GDP is expected to grow 2.9% in 2022, down from its recent forecast of 3.7% in Aprilsaid IMF Managing Director Kristalina Georgieva at an annual review of US economic policies over the weekend. Additional comments The US economy will grow 1.7% in 2023 and 0.8% in 2024. After contracting -3.4% in […]
