Chinese PMIs and Potential Commodity Currency Recovery
With lingering questions on how much of an impact China’s reopening will have on the global economy, there’s likely to be increased focus on leading economic indicators from the country. Foremost among them are PMIs, since they are the freshest data, and give insight into economic trends. If the economy is ramping up, purchasing managers […]
EURO Heads to 1.09 Ahead of PMIs!
The EURUSD pair hit a fresh nine-month peak at the 1.09 level. Cable has been left short as another resistance zone becomes clear. Traders now look to the Eurozone and US PMI data for the next signals. Timestamps EURUSD 01:45 GBPUSD 03:05 The post EURO Heads to 1.09 Ahead of PMIs! appeared first on Orbex […]
Brexit, UK tax concerns probe bulls above 1.2350, PMIs eyed
GBP/USD clings to mild gains after reversing from 7.5-month high the previous day. UKICE reports no likely change to Brexit terms despite UK’s latest hardships. Concerns surrounding UK’s tax cuts in upcoming budget, tax probe on Conservative leader also probe Cable buyers. Preliminary readings of UK/US PMIs for January, BOE’s Pham eyed for fresh impulse. […]
Global Flash PMIs, and the Return of Investor Optimism?
At the conclusion of the latest WEF meeting in Davos, many of the leaders there were optimistic that the world would avoid a recession. Or, at least, if there was a recession, it would be short and shallow. A substantial portion of that optimism relied on an expectation that China would rebound, now that it […]
Week Ahead – Highlights include: US PCE & GDP, BoC, Flash PMIs, Aus & NZ CPI
MON: BoJ Minutes (Dec); Australian Flash PMIs (Jan). TUE: Australian NAB Business Confidence (Dec), German GfK (Feb), EZ, UK & US Flash PMIs (Jan), New Zealand CPI (Q4), UK CBI Trends (Jan). WED: BoC Policy Announcement; Australian CPI (Dec/Q4), German Ifo (Jan). THU: CBRT Minutes & Inflation Report (Jan), US Durable Goods (Dec), GDP Advance […]
US Dollar Sinks to Support After PMIs: CPI Data Ahead
US Dollar Talking Points: The US Dollar started the year with a subtle show of strength but that was soundly rebuked on Friday after the release of PMI numbers. The big US driver for this week is CPI which is set to be released on Thursday. Markets are looking for a move down to 6.5% […]