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<p>China’s Caixin PMI Services rose to 44.4 in April, up from March’s 43.0. PMI Composite rose to 47.6, up from 46.7. Both stayed in contraction region. Zhengsheng Zhong, Chairman and Chief Economist at CEBM Group said, “domestic services activity remained under notable pressure amid the coronavirus pandemic”. New expo

<p>BoE kept interest rate unchanged at 0.10% as widely expected, with unanimous vote. Asset purchase target was held at GBP 645B, but by 7-2 vote.  Two members, Jonathan Haskel and Michael Saunders, preferred to increase the target for the stock of asset purchases by an additional GBP 100B. The central bank said it “stands ready [&helli

<p>Australia AiG Performance of Services Index dropped -11.6 pts to 27.1 in April. This was both the largest single monthly fall and the lowest result in the history of the series (commencing in 2003). AiG said: &#8220;Activity restrictions in response to the COVID-19 pandemic have decimated large segments of Australia&#8217;s service

<p>DOW once again failed to hold on to initial gains and closed down -218.45 pts, or -0.91%, at 23664.64 overnight. S&P 500 dropped -0.70% but NASDAQ managed to close up 0.51%. Renewed US-China tension remains a factor limiting risk appetite. US President Donald Trump’s administration is weighing actions against China over its earl

<p>Risk sentiments seem to have firm up again today despite rather poor economic data. Major stock indices in Europe are in black while US futures point to higher open. WTI crude oil is also extending recent rebound, with June contract now above 26.2. Commodity currencies are generally higher as led by Australian Dollar. Yen and […]

<p>Sterling recovers mildly today after BoE left monetary policy unchanged as widely expected. Two members voted for an increase in asset purchase but that was shrugged off by the markets. Though, Australian Dollar is even stronger for the moment. Yen weakens mildly together with Swiss Franc. But for the week, Yen remains the strongest, follo

<p>Crude oil price continued to recover after the collapse two weeks ago. Slowdown in the build-up of oil inventory, hopes of demand improvement, and expectations of demand/supply re-balance  as OPEC+ began output cut in May are key driving forces. The report from the US Energy Information Administration (EIA) shows that total crude oil and p

<p>Silver is struggling to claim the 50-day simple moving average (SMA) but the bullish cross between that line and the 20-day SMA, although weak, is currently somewhat promising of an uptrend resumption. In order to attract buying interest and challenge its recent peak of 15.82, the metal should close above its short-term SMAs and specifical

<p>EURCAD is currently stuck between the 200-period SMA of 1.5331 and the 1.5127 level, that being the 50.0% Fibonacci retracement of the up leg from the 34-month low of 1.4263 to the 2-year high of 1.5991. Observing the converged and flattened SMAs, they still promote a horizontal mode whilst the short-term oscillators lean towards a [&helli

<p>“That is a trick of human nature. We get used to things.” – Author R. J. Palacio Picture this scenario: On the first day of 2020, a time traveler appears in your living room with a dire warning. Without specifying why, he states that economists are expecting US Non-Farm Payrolls report to show 2.1 million […]