AUD/USD Price Forecast: Stable under 0.7200, near a two-week high after China’s PMI
AUD/USD Overview The AUD/USD pair has been hovering below the 0.7200 threshold, showing limited movement after the latest China Rating Dog Manufacturing PMI report, which indicated a drop to 51.8 in May from 52.2 in April. Currently, spot prices are lingering near the two-week peak achieved on Friday, suggesting they might gain further momentum in […]
Chicago PMI Experiences Record Increase, New Orders Reach Highest Level Since 2022
Chicago Business Activity Surges in May A key indicator of business activity in the Chicago region saw a significant surge in May, reaching levels not seen in over four years. This spike signals a boost in U.S. manufacturing momentum. The Chicago Business Barometer, created by MNI Indicators and ISM Chicago, jumped 13.5 points to 62.7 […]
Japanese Yen declines as US Manufacturing PMI remains robust
The USD/JPY pair has gained strength, hovering around the 159.30 mark as it nears the significant 160.00 level, which typically triggers intervention from the Bank of Japan. Recent preliminary data from the S&P Global Purchasing Managers Index (PMI) indicates that the US composite PMI remained steady at 51.7 for May, matching the figure from April […]
Euro exchanges carefully with British Pound before EU-UK flash PMI report
On Thursday, during European trading, the euro (EUR) was seen moving cautiously against the British pound (GBP), hovering around 0.8650. Investors appear to be waiting for the preliminary results of the Eurozone and UK Private Sector Purchasing Managers’ Index (PMI) for May, leading to a somewhat passive market. The euro area’s HCOB composite PMI is […]
New Zealand Dollar falls to new session lows before PMI and PPI announcements
The NZD/USD dropped by 0.4% on Thursday, continuing its decline throughout the trading session and ending the day near its lowest point. Recently, this currency pair has been stuck in a wide range, unable to revisit the early March highs around 0.6120. The bearish momentum picked up during the afternoon, forcing the price to close […]
USD/CAD stays around 1.3580 as Loonie strengthens with better PMI results
The USD/CAD exchange rate saw a slight increase of less than 0.1% on Friday, bouncing back from an early low near 1.3560 to settle around 1.3590. Even after a retreat from the 1.3700 range earlier in the week, this marks a 0.6% drop for the week overall. It seems that momentum is waning around the […]
NZD/USD climbs close to 0.5850 before Chinese PMI release
The NZD/USD experienced a rise after a two-day decline, trading at approximately 0.5830 during Asian hours on Thursday. This increase follows the release of favorable domestic economic data, suggesting strength in the New Zealand dollar (NZD). Market watchers are also anticipating the release of the China Purchasing Managers Index (PMI) later today, as the strong […]
Forex Today: US Dollar rises slightly as traders prepare for US PMI reports
Here’s a quick roundup for Thursday, April 23rd. The US dollar (USD) is holding steady at around 98.65 as European trading approaches, largely due to ongoing geopolitical tensions between the US and Iran. In the latter part of Thursday, all eyes will be on the S&P Global US Purchasing Managers’ Index (PMI). There’s some expectation […]
Manufacturing PMI expected to show stable economic conditions in the US
According to data from the Institute for Supply Management (ISM), the manufacturing PMI for March came in at 52.7, a slight increase from February’s 52.4, and also surpassing analysts’ expectations of 52.5. In other metrics, the price paid index—which gauges inflation—climbed from 70.5 to 78.3, while the employment index saw a minor drop from 48.8 […]
What is the timeline for the UK Services PMI and how might it impact GBP/USD?
The S&P Global Purchasing Managers’ Index (PMI) in the UK has dropped to 51.0 from 53.7 in February, indicating a slowdown in both manufacturing and service activities, as shown by preliminary data. Notably, the services PMI fell sharply from 53.9 to 51.2, while the manufacturing PMI saw a slight decrease from 51.7 to 51.4. Chris […]