Prior was -0.15 (revised to -0.28) Thirty-one of the 85 individual indicators made positive contributions to the CFNAI in June, while 54 made negative contributions Thirty-three indicators improved from May to June, while 51 indicators deteriorated and one was...
The NZD is the strongest and EUR is the weakest as the NA session begins
The strongest to the weakest of the major currenciesThe NZD is the strongest and the EUR is the weakest of the major currencies to start the new trading week. The GBP is also weaker. Both the EUR and the GBP's declines were impacted by weaker flash PMI estimates for...
ForexLive European FX news wrap: Euro slumps as PMI data disappoints
Headlines:Markets:NZD leads, EUR lags on the dayEuropean equities slightly lower; S&P 500 futures up 0.2%US 10-year yields down 4.3 bps to 3.795%Gold up 0.4% to $1,967.18WTI crude up 0.6% to $77.56Bitcoin down 2.1% to $29,252The highlight of the session was the...
Nasdaq Composite Technical Analysis – Key support in sight for the Bulls
After a big rally following the miss in the US CPI report, the market's momentum showed signs of waning as it approached a crucial resistance level and started to pull back. Despite this, the data remains supportive of the soft-landing narrative, with last week's US...
GOOGL earnings preview
Despite mounting competition in artificial intelligence and internet search, Google stock has advanced 40% this year. That’s in line with the nearly 39% rise in the Nasdaq composite, but it certainly does not make it one of the best performing tech companies....
Bond yields hold lower after European PMI woes today
Here's a snapshot of bond yields at the moment:10-year German bond yields down 5.5 bps to 2.373%10-year French bond yields down 5.3 bps to 2.935%10-year UK gilt yields down 8.5 bps to 4.194%10-year Treasury yields down 3.2 bps to 3.807%The drag today comes largely off...
China’s Politburo: Domestic demand is insufficient, economic recovery will be ‘tortuous’
Will continue to implement prudent monetary policyWill adjust and optimise property policies at appropriate timeWill keep yuan exchange rate basically stableExternal environment is complex and severeWill actively expand domestic demand conditionsTo also boost...
Market Outlook for the Week of 24 – 28 July
The upcoming week will be eventful, with several key economic indicators and policy announcements scheduled across different regions:Monday will feature the release of Flash Manufacturing PMI and Flash Services PMI for the United States. On Tuesday, Japan will...
Dow Jones Technical Analysis – Successful breakout could lead to all-time highs
The miss in the US CPI report and the better-than-expected US Retail Sales and Jobless Claims last week, gave the Dow Jones enough strength to probe above the key resistance at 35289 and opening the door for the all-time highs. As long as the current soft-landing...
UK July flash services PMI 51.5 vs 53.0 expected
Prior 53.7Manufacturing PMI 45.0 vs 46.1 expectedPrior 46.5Composite PMI 50.7 vs 52.4 expectedPrior 52.8That's another disappointing one, this time for the UK and the pound. The robustness in the services sector is waning fast and manufacturing continue to sit well in...
PepsiCo Stock After Strong Financial Report: Is It a Moment to Buy?
PepsiCo became one of the first companies that released its earnings in the new US reporting season. And market participants responded positively to the figures. As a result, the stock has experienced a nearly 2.5% increase. Let’s delve into how PepsiCo achieved such...
Dollar keeps more mixed so far in European trading
That said, the ranges for the day for some dollar pairs are still leaving a lot to be desired. The most active pair so far today is definitely EUR/USD and with good reason as seen below:I might be overstepping but I reckon that could very well be the recap for the...
SNB total sight deposits w.e. 21 July CHF 489.3 bn vs CHF 494.7 bn prior
> SNB total sight deposits w.e. 21 July CHF 489.3 bn vs CHF 494.7 bn prior Latest data released by the SNB - 24 July 2023 <!--> Justin Low Monday, 24/07/2023 | 08:01 GMT-0 24/07/2023 | 08:01 GMT-0 --> <!--> Domestic sight deposits CHF 478.5 bn vs CHF...
Eurozone July flash services PMI 51.1 vs 51.5 expected
Prior 52.0Manufacturing PMI 42.7 vs 43.5 expectedPrior 43.4Composite PMI 48.9 vs 49.7 expectedPrior 49.9On the balance of things, the overall numbers here don't seem as dire as what the German PMI data earlier suggests. However, the manufacturing sector is still well...
Even the details don’t make for good reading on today’s PMI data from Europe
Here are some of the highlights:Total new business inflows fell at the quickest rate in 2½ years (France)Pace of hiring slowed to its weakest for the year (France)Total new business inflows saw sharpest drop in >3 years (Germany)Firms' expectations towards future...
Euro falls further as German PMI disappoints heavily
The French report earlier took EUR/USD down from 1.1146 to 1.1124 but the pair is now down to 1.1080 after a rather ugly set of German PMI readings here. This comes alongside a fall in regional bond yields, with 2-year German yields now down nearly 6 bps on the day to...
Germany July flash manufacturing PMI 38.8 vs 41.0 expected
Prior 40.6Services PMI 52.0 vs 53.1 expectedPrior 54.1Composite PMI 48.8 vs 50.3 expectedPrior 50.6Ugh, that's a really ugly headline reading as the manufacturing sector contracts sharply with the PMI reading falling below 40(!). The services sector is at least...
Euro slips a little after the disappointing French PMI data
We've seen this story before already last month and this seems like a bit of repeat, albeit with toned down market expectations at least. There's still no certainty with regards to September but further disappointment in economic performance isn't going to make it...
France July flash services PMI 47.4 vs 48.4 expected
Prior 48.0Manufacturing PMI 44.5 vs 46.0 expectedPrior 46.0Composite PMI 46.6 vs 47.8 expectedPrior 47.2The downturn in both the services and manufacturing sectors have worsened in France in July. They are now both down to their worst levels in 29 months and 38 months...
Russell 2000 Technical Analysis – The bears are waiting at a key level
The soft-landing vibes are still present in the market even if we started to see some pullbacks here and there. In fact, following the miss in the US CPI report, the economic data last week was still good with US Retail Sales beating expectations on the Control Group...