Prior 47.5Following the revision, the UK manufacturing sector posts a marginal growth to wrap up Q1. Both output and new orders increased with business optimism also improving to an 11-month high. The good news at least is that domestic demand conditions are picking...
UK February mortgage approvals 60.38k vs 56.50k expected
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Swiss franc the laggard so far on the session
There's no key headline putting a drag on the franc as this is largely a follow through from the SNB surprise decision last month here. USD/CHF in particular is finding added impetus after a strong bounce in Treasury yields overnight. It is now up 0.4% to 0.9084 at...
Bavaria March CPI +2.3% vs +2.6% y/y prior
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Eurozone March final manufacturing PMI 46.1 vs 45.7 prelim
Prior 46.5Even with the headline reading dipping to a three-month low, there are some good news from this report. Of note, output and new orders are seeing much softer declines, at levels seen during early 2023. Meanwhile, business confidence also rose to its highest...
Market Recap – Inflation: Will be back?
Economic Indicators & Central Banks: Treasuries were hit by stronger than expected ISM data and yields climbed sharply in a bear steepener. – US manufacturing unexpectedly expanded for the first time since September 2022 & input costs climbed. The...
Germany March final manufacturing PMI 41.9 vs 41.6 prelim
Prior 42.5Despite a slight revision higher to the initial reading, it is still a five-month low. Weak demand conditions is still the main problem and we're starting to see employment conditions also take a slight hit. The good news at least is that price pressures are...
France March final manufacturing PMI 46.2 vs 45.8 prelim
Prior 47.1France's manufacturing sector remains sluggish in March as demand conditions continue to keep a drag on overall activity. Production may have fallen at its weakest pace in almost two years but there needs to be more in order for the sector to turn the...
Italy March manufacturing PMI 50.4 vs 48.8 expected
Prior 48.7Italy's manufacturing sector stops the rot and marginally grows for the first time in a year. A renewed growth in both output and new orders were the contributing factors. HCOB notes that:“Italy's manufacturing sector can breathe a sigh of relief. After...
Switzerland March manufacturing PMI 45.2 vs 44.9 expected
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European equities hold slightly higher to start the day
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Spain March manufacturing PMI 51.4 vs 51.0 expected
Prior 51.5Spain's manufacturing sector sustains a slight growth in March, helped by stronger output despite a softer increase in new orders. Prices remain a bit of an issue though, with the rate of inflation still seen at its highest since February 2023. But compared...
UK March Nationwide house prices +0.2% vs +0.3% m/m expected
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GBPUSD Technical Analysis – The breakout is a bad omen for the buyers
USDThe Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower.Fed Chair...
FX option expiries for 2 April 10am New York cut
There is just one to take note of, as highlighted in bold.That being for EUR/USD at the 1.0735 level. With the dollar in the driver's seat, the expiries may not matter too much as the level isn't technically significant. At best, it could limit price action before...
German inflation the highlight of the European data docket today
It was a four-day weekend in Europe and that saw a rather quiet trading period up until late yesterday. During the US session, the dollar caught a bid as Treasury yields jumped higher. And the moves are something to be mindful of as we get back on the saddle in Europe...
Dollar in the driver’s seat to start April trading
European traders will be greeted with an air of dollar strength upon their return from the Easter holiday. That comes as the greenback caught a bid yesterday, helped out by stronger ISM manufacturing data here. But I would argue that it was more so a surge higher in...
ForexLive Asia-Pacific FX news wrap: Chinese state banks buying onshore yuan
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China’s state-owned banks selling USD/CNY – to support the yuan
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Bitcoin taking a hit, back under $68K
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