Sun, May 31, 2020 @ 10:03 GMT
The contraction in the U.S. economy in the first quarter was revised to 5% annualized in the second estimate, slightly worse than the 4.8% reported a month ago. The second estimate is based on more complete source data...
Dollar is trading a touch softer in early US session after poor durable goods orders. Euro, on the other hand, is trying to extend the EU stimulus triggered gains. Overall, movements in the forex markets today are relatively limited....
BoE policymaker Michael Saunders, a known dove, warned of the risks of a "vicious circle whereby the economy gets stuck in a self-feeding loop of weak activity, pessimistic expectations and low investment." "The searing experience of such a dramatic drop...
According to second estimate, US GDP contracted -5.0% annualized in Q1, worse than first estimate of-4.8% annualized. A downward revision to private inventory investment was partly offset by upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment....
US durable goods orders dropped -17.2% to USD 170.0B in April, better than expectation of -18.1%. That's still the second month of sharp decline, following -16.6% in March. Ex-transport orders dropped -7.4%. Ex-defense orders dropped -16.2%. Full release here.
US initial jobless claims continued to drop, by -323k to 2123k in the week ending May 23. Four-week moving average of initial claims dropped -436k to 2608k. Continuing claims dropped -3860k to 21052k in the week ending May 16....
EURJPY despite the recent pullback in price maintains its bullish bias above the simple moving averages (SMAs) and the Ichimoku cloud. The current horizontal Ichimoku lines reflect a pause in price appreciation, while the short-term oscillators suggest some weakening...
The US dollar index looks to be mostly neutral after a descent from the March 20 peak of the three-year high of 103.80, returning the price back below the 101.00 barrier and below the 20- and 40-day simple moving...
The precious metal has been trading side-ways over the past several weeks, with investors choosing to focus more on the racier equity markets. So, the safe-haven precious metal has been unable to build on its impressive rally in March....
Eurozone Economic Sentiment Indicator rose slightly to 67.5 in May, up from 64.9, but missed expectations of 70.5. Employment Expectations Indicator led the way, jumped to 70.2, up from 58.9. Industrial Confidence rose to -27.5, up from -32.5. Consumer...
Ifo updated their German economic forecasts and now expects GDP to shrink by -6.6% this year. A strong rebound of 10.2% GDP growth is expected in 2021.  "This is based on our evaluation of the ifo survey conducted among...
The Euro is holding within 1.10 zone in European session on Thursday after hitting new, marginally higher high (1.1035) in nearly two months. Bulls failed to close above 200DMA (1.1009) on Wednesday, despite spike to 1.1030, signaling that fresh...
AUDUSD though having recently failed (in the past two days), appears to persist in tackling the area, from the 200-day simple moving average (SMA) at 0.6642 to the tough border of 0.6684, which includes the 76.4% Fibonacci retracement of...
EURUSD has been rising over the last two weeks, challenging a fresh almost two-month high at 1.1034. The bullish picture in the short-term is further supported by the MACD, which is edging higher and above its red trigger line,...
WTI crude oil futures for July delivery inched down on Wednesday after failing to lift the strong ceiling around 34.63 and jump above the Ichimoku cloud. The price is now looking for support at April’s highs around 31.00 in order...
Global and US stocks continued to trend higher as investors became more optimistic about the pace of the economic recovery from the Covid-19 pandemic and gave little attention to the ongoing US-China confrontation over Hong Kong. Technical vs. Fundamental Looking at...
In this note we use data from various sources including ABARE; ABS; and RBA. China is Australia's largest trading partner. Last year Australia's exports of goods and services to China were valued at around $150bn. Two key developments will impact the future...
Asian markets continued to ignore risk rally in US and trade mixed today. Sentiments are mildly weighed down by US-China tensions over Hong Kong. But reactions are so far limited. Euro and Dollar are mildly firmer in Asian session...
Hong Kong stocks tumble notably in Asian session today while off-shore Chinese Yuan also breached to a new low. US-China tensions intensified further over the proposed national security law for Hong Kong. (More details regarding the laws here). US...
New Zealand ANZ Business Confidence improved to -41.8 in May, up from May's prelim reading of -45.6, and April's -66.6. All industry stayed negative, worst in Agriculture at -82.1. Activity Outlook improved to -38.7, up from May's prelim reading...
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