US Dollar Index steadies above 98.50 as US PMI signals show mixed results
The US dollar index has stabilized above 98.50 after bouncing back from a drop following the non-farm payroll report last Friday. S&P Global Composite and Services PMIs exceeded expectations, indicating ongoing strength in the private sector. The ISM Services PMI dipped to 50.1, showing signs of weaker demand and employment than anticipated. The US Dollar […]
US Services PMI expected to stay in steady growth range
Improvements in US ISM Services PMI observed for July. The U.S. services sector is anticipated to remain in the growth zone. Investors are leaning towards the possibility of two interest rate cuts from the Fed this year. The Institute for Supply Management (ISM) released its July services PMI on Tuesday, with predictions suggesting a rise […]
Australian Dollar stays low while US Dollar remains steady before ISM Services PMI report.
Even with positive domestic S&P PMI data, the Australian dollar faces pressure. China’s Caixin Services PMI rose unexpectedly to 52.6 in July, compared to the forecasted 50.2. Governor Adriana Kugler’s resignation offered Trump an earlier chance to sway the central bank’s direction. The Australian Dollar (AUD) is experiencing a downturn for the second consecutive day, […]
EUR/USD slips closer to 1.1550 before US ISM PMI report
EUR/USD faces challenges as the US dollar strengthens due to increased risk aversion. Traders are looking forward to the HCOB PMI data for both the Eurozone and Germany due later on Tuesday. CME’s FedWatch tool indicates a 91.6% probability that the Federal Reserve will lower its rates next month. EUR/USD is set to extend its […]
USD/CHF increases as Swiss Franc weakens due to poor PMI and tariff worries
The USD/CHF increased by nearly 0.50% on Monday, breaking a two-day decline for the US dollar. Swiss CPI was projected to rise by 0.1%, following a 0.2% increase in July, but monthly inflation remained at 0.0%. The Swiss Manufacturing PMI dropped to 48.8, marking its fifth consecutive month of contraction and was somewhat unexpected. The […]
Australian Dollar weakens after poor PMI data from China.
The Australian dollar remains stable, maintaining a 10% baseline tariff on Australian goods. China’s Caixin Manufacturing PMI dropped to 49.5 in July from 50.4 in June, falling short of the anticipated 50.3. Non-farm salaries in the US are expected to remain in a positive range. On Friday, the Australian Dollar (AUD) hit a notable point, […]
Australian Dollar remains steady after Retail Sales and China’s PMI figures are released.
The Australian dollar holds steady as retail sales experienced a rise of 1.2% month-over-month in June, significantly surpassing the anticipated 0.4% increase. The NBS Manufacturing Purchase Managers Index in China dropped to 49.3, while the non-manufacturing PMI eased to 50.1 in July. The Federal Reserve maintained benchmark interest rates in the range of 4.25%-4.5% during […]
GBP/USD approaches Friday with weakness following disappointing PMI data
GBP/USD ended its three-day winning streak on Thursday, dropping to 1.3500. Despite some positive momentum, the currency faces new challenges at critical technical points. The UK PMI figures fell short on Thursday, but Friday offers another chance for better UK data. On Thursday, GBP/USD reversed a three-day bullish trend, declining from 1.3600 down to 1.3500. […]
Pound Sterling falls as UK PMI sees slight increase in July
The pound is experiencing downward pressure against other currencies due to moderate growth indicated in preliminary UK PMI data for July. There are hopeful signs for increased demand for risk-sensitive assets thanks to the US-EU trade agreement discussions. The Federal Reserve is expected to maintain current interest rates in its upcoming meeting. The British Pound […]
GBP/USD approaches 1.3600 as optimism grows, attention on UK PMI data
GBP/USD could see further valuation as the US dollar weakens due to improved market sentiment. The European Union and the US are nearing an agreement to impose 15% tariffs on EU goods. Traders are anticipating index data from the S&P Purchase Managers in the UK on Thursday. GBP/USD has been holding steady after four days […]