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Monthly Archives: June 2024

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GBP/USD Rose As Weak PMI Data Weigh On Dollar

Written on June 4, 2024 at 2:05 am, by jonywang

Fundamental Analysis * Greenback Gloom: The Pound Sterling strengthened against the US Dollar after the recent release of unexpectedly weak U.S. Manufacturing PMI data, which negatively impacted the dollar. The Institute for Supply Management (ISM) reported on Monday that the U.S. manufacturing sector contracted at a faster rate in May. The ISM Manufacturing PMI fellContinue Reading

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Categories: Trade Of The Day

Soft PCE Boost Equity Market

Written on June 3, 2024 at 5:35 am, by jonywang

* Soft PCE reading hammered the dollar’s strength and improved stock market performance. * Eye on today’s U.K. and U.S. PMI readings. * Oil prices are expected to be hindered by the outcome of the OPEC meeting. Market Summary The highly anticipated U.S. PCE, the Fed’s preferred inflation gauge, met market expectations when released lastContinue Reading

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Categories: Daily Market Analysis, Market Insights

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