EUR/USD Slips Below 1.1150 as Eurozone and US PMI Data Loom
EUR/USD Slips Below 1.1150 as Eurozone and US PMI Data Loom The EUR/USD pair is trading with mild losses around 1.1145, breaking its four-day winning streak during the Asian session on Thursday. Despite the current dip, downside risks for the pair appear limited due to strong expectations that the US Federal Reserve (Fed) may begin […]
Japan’s Service Activity Declines for First Time in 2 Years, PMI Reveals
Japan’s Service Activity Declines for First Time in 2 Years, PMI Reveals Japanese service activity contracted in June for the first time in nearly two years as domestic demand cooled, according to a private sector survey released on Wednesday. Despite this contraction, business confidence and hiring indicators remained positive. The service sector has been a […]
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI The EUR/JPY pair remains in positive territory for the sixth consecutive day, trading near 173.80 during the early European session on Wednesday. This sustained upward movement is primarily due to the weakening Japanese Yen (JPY), which has been impacted by recent data indicating a contraction in Japanese […]
Gold Holds Steady Below 50-Day SMA, Awaits Fed Chair Powell’s Speech
Gold Holds Steady Below 50-Day SMA, Awaits Fed Chair Powell’s Speech Gold prices (XAU/USD) faced fresh selling pressure during the Asian session on Tuesday, reversing the previous day’s gains and approaching the 50-day Simple Moving Average (SMA), a significant resistance level. The US Dollar (USD) gained traction as investors awaited more clarity on the Federal […]
Australian Dollar Rises on Risk-On Sentiment and Strong China Services PMI
Australian Dollar Rises on Risk-On Sentiment and Strong China Services PMI The Australian Dollar (AUD) gained ground on Wednesday, bolstered by improved risk sentiment and a stronger-than-expected China Services PMI. However, the upward momentum of the Aussie Dollar may be constrained by weaker-than-anticipated domestic economic data. The Gross Domestic Product (GDP) for the first quarter […]
Australian Dollar Stagnant as US Dollar Rises Before ISM PMI
Australian Dollar Stagnant as US Dollar Rises Before ISM PMI The Australian Dollar (AUD) maintained its stability as investors adopted a cautious stance ahead of the upcoming release of the ISM Manufacturing PMI in the United States on Monday. The AUD found some early support during the Asian trading session following an increase in Australia’s […]
Japan’s Service Sector Sees Rapid 7-Month Growth Boost in Demand – PMI
Japan’s Service Sector Sees Rapid 7-Month Growth Boost in Demand – PMI The Japanese service sector has experienced its most rapid expansion in seven months as of March, primarily driven by a surge in demand, especially in inbound tourism. This growth in services has been a critical factor in Japan’s recent economic performance, helping to […]
GBP/USD Trading Below 1.2700, Focus on US Services PMI
GBP/USD Trading Below 1.2700, Focus on US Services PMI The British Pound (GBP) trades cautiously below the key level of 1.2700 against the US Dollar (USD), with its current position hovering around 1.2680, reflecting a slight decline of 0.23% within the Asian trading session on Monday. Despite its dip, the GBP/USD pair shows resilience, bolstered […]
USD/CAD Falters Near 1.3730; Eyes on US, Canada Jobs Data
USD/CAD Falters Near 1.3730; Eyes on US, Canada Jobs Data The USD/CAD pair is experiencing a slight dip in the vicinity of 1.3730 as market participants eagerly anticipate labor market data from the US and Canada. The US Dollar (USD) has been on a losing streak, which has led to the CAD’s current position. In […]
S&P 500 Futures show cautiousness amid fluctuating yields
S&P 500 Futures show cautiousness amid fluctuating yields The market remains cautious on Wednesday as investors await the US ISM Services PMI. Concerns about China’s economy, fears of hawkish moves by the Federal Reserve, and Eurozone recession worries are likely contributing to the subdued risk appetite. S&P 500 Futures are slightly down following yesterday’s negative […]
Chinese Property Stocks Fail to Ease Growth Concerns, Bears Control Asian Stock Market
Chinese Property Stocks Fail to Ease Growth Concerns, Bears Control Asian Stock Market The Asian stock market is not doing so well today. Even though China’s property stocks are getting better, the overall situation is not great. People who trade stocks are being careful because they saw big losses yesterday. They are also waiting for […]
USD/JPY Surges Past 146.00, Awaits Japan GDP and US ISM Services PMI
USD/JPY Surges Past 146.00, Awaits Japan GDP and US ISM Services PMI USD/JPY is holding steady around 146.10-15 as we enter Monday’s European session, following a slow start to the week with Japan’s GDP numbers and the US ISM Services PMI in focus. The lack of action in the Yen pair can be attributed to […]
What is PMI Index?
In forex trading, staying informed about market indicators is crucial for making well-informed trading decisions. Among these vital indicators, the Purchasing Managers’ Index (PMI) stands out as a key factor. Understanding the PMI index is paramount, especially for newcomers to the forex trading arena, as plays a pivotal role in guiding entry and exit points […]