The UK services sector returned to modest growth in May, with PMI Services finalized at 50.9, rebounding from April’s 27-month low of 49.0. Composite PMI also edged into expansion at 50.3, up from 48.5. Tim Moore of S&P Global highlighted that easing fears over US tariffs, firmer global markets, and renewed client confidence underpinned the […]
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Eurozone’s services sector contracted modestly in May, with the final PMI Services reading falling to 49.7, down from April’s 50.1, marking a six-month low. This decline pulled the Composite PMI down to 50.2, indicating only marginal overall growth in private sector activity. The divergence in national performance was notable: Italy led with a 13-month high […]
The post Eurozone PMI composite finalized at 50.2, ECB cuts and Germany to suhion tariffs impact ahead appeared first on Action Forex.
EUR/USD started a downside correction from the 1.1450 resistance. USD/CHF is rising and might aim for a move towards the 0.8250 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.1450 resistance and declined against the US Dollar. There was a break below a key bullish trend line with […]
The post EUR/USD Trims Gains as USD/CHF Targets Upside Break appeared first on Action Forex.
Daily Pivots: (S1) 0.8397; (P) 0.8424; (R1) 0.8438; More… EUR/GBP retreated ahead of 0.8458 resistance and intraday bias is turned neutral first. On the upside, above 0.8448 will resume the rebound to 38.2% retracement of 0.8737 to 0.8354 at 0.8500. On the downside, however, break of 0.8401 minor support will bring retest of 0.8354 low. […]
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*for the SNB, the rest of the probability is for a 50 bps cut
Rate hikes by year-end
We
can see that the market pricing remained largely unchanged since the last update. We’ve been in this consolidating type of environment for a couple of weeks now as the lack of key macro changes kept traders waiting for something.
It’s a boring kind of market with very low volatility. Let’s hope for some fun in the next couple of weeks as we get the US NFP, CPI and FOMC decision.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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