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The US Flash Manufacturing PMI for April was released on friday, with the reading of 50.8, the lowest level since 2009. The current level reflected the weakest overall business conditions for over six-and-a-half years. According to a report the Commerce Department published today, new home sales in the US fell for three straight months, downRead More
Last week, the market was disappointed after the Doha meeting held in Qatar failed to reach the agreement to freeze oil production. The meeting was not successful as the top producer Saudi Arabia required that Iran, the only OPEC member that was not represented in the meeting, also needed to sign up for the agreement.Read More
The Flash Manufacturing Output Index for Japan was released yesterday, with a reading of 47.9 for April, lower from 49.8 in March. The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) this month also witnessed a fall of 1.1 points to 48.0. The index currently shows the fastest pace of decline in the last three years.Read More
USDCHF faces the strong resistance at 1.000. The pair has successfully climbed up through this resistance till the peak at 1.00013 before falling back to 0.98525. USDCHF had remained in uptrend for last 2 weeks; the last peak was lower than the one before showing that the buying strength becomes weaker. USDCHF is already inRead More
The week in view is likely to be a busier one, as markets anticipate the #Non-Farm Payrolls that is billed for the greenback, long with the #Aussie dollar #central bank input, and a host of crucial event risks that are connected to major global economies. Our main news for the week would probably be theRead More
U.S. Data Watch Figures from Commercial Department on Friday showed that U.S economy is expanding with an unexpectedly faster pace in the last quarter than both previous estimate and expectation of economists. Specifically, preliminary gross domestic product for Q4/2015, which reflects annualized change in the value of all goods and services produced by the economy,Read More