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<p>The Wall Street continued to ignore the unrest in the US, triggered by police killing of the unarmed black man George Floyd. President Donald Trump expressed his support for “peaceful protesters”. Yet, he also threatened to deploy military to end “riots and lawlessness”. Separately, New York City joined other cities

<p>US ISM Manufacturing Index recovered to 43.1 in May, up from 41.5, beat expectation of 42.5. Looking at some details, new orders rose 4.7 pts to 31.8. Production rose 5.7 pts to 33.2. Employment rose 4.6 points to 32.1. All these components stayed deep in contraction. Though, supplier deliveries improved and dropped -8.0 pts to […]

<p>UK PMI Manufacturing was finalized at 40.7 in May, up from record low of 32.6 in April. Output, new orders and employment fell sharply. Input price and output charge inflation remained moderate. Rob Dobson, Director at IHS Markit: “Changes to working practices, uncertainty about how long the COVID-19 restrictions may be in place for,

<p>Eurozone PMI Manufacturing was finalized at 39.4 in May, up from April’s 33.4. Markit noted that while there was a rebound in the headline PMI, there were sharp falls in new orders and output recorded. Also, job losses mount as manufacturers remained downbeat about outlook. Among the member states, all readings stayed below 50, with

<p>Risk appetite remains generally firm in European session but trading has turned a bit subdued with France, Germany and Swiss on bank holiday. Dollar is trying to recovery entering into US session, but remains one of the weakest, along with Yen and Swiss France. Australian Dollar is leading commodity currencies higher while Euro is losing [

<p>The upcoming BOC meeting (June 3) will be the first one headed by incoming Governor Tiff Macklem. We expect him to leave the policy rate unchanged at 0.25%. The unconventional monetary policy, i.e.: QE, will also remain the same. Given the disappointing GDP and inflation data, the accompanying statement will maintain a cautious tone, with

<p>For the 24 hours to 23:00 GMT, the USD rose 4.10% against the CAD and closed at 1.3577. On the data front, Canada’s Markit manufacturing PMI climbed to 40.6 in May, compared to a level of 33.0 in the previous month. In the Asian session, at GMT0300, the pair is trading at 1.3566, with the […]

<p>For the 24 hours to 23:00 GMT, Silver rose 0.56% against the USD and closed at USD18.85 per ounce. In the Asian session, at GMT0300, the pair is trading at 18.745, with silver trading 0.56% lower against the USD from yesterday’s close. The pair is expected to find support at 18.48, and a fall through […]

<p>For the 24 hours to 23:00 GMT, Crude Oil rose 0.40% against the USD and closed at USD35.41 per barrel. In the Asian session, at GMT0300, the pair is trading at 35.47, with oil trading 0.17% higher against the USD from yesterday’s close, Organisation of the Petroleum Exporting Countries (OPEC) meeting later this week to […]

<p>Elliott Wave View in GBPAUD suggests the decline from 5.4.2020 high is unfolding as a 5 waves impulsive Elliott Wave structure. Down from 5.4.2020 high, wave 1 ended at 1.8943 and bounce in wave 2 ended at 1.9127. Pair then resumed lower in wave 3 towards 1.845. The 30 minutes chart below shows the move […]