Tag Archives: PMI
Focus on AUDUSD today – 23rd AUG 2024
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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the AUDUSD for AUG 23 2024. Key Takeaways Technical Analysis Daily Chart Insights (AUD/USD Daily Price Chart, Sources from Ultimate Markets MT4) H1 Chart Insights (AUD/USD Hourly Price Chart, Sources from Ultima Markets MT4) Pivot Indicator (AUD/USD 30 Minutes Price Chart, Sources from […]
Pound Sterling Rises on Strong PMI, eyeing BoE’s next move
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Sterling experienced a broad surge on Thursday, fuelled by better-than-expected PMI data, suggesting the UK economy is on course for solid growth in the third quarter. The flash composite output index climbed to a four-month high of 53.4 in August from 52.8 in July, surpassing the forecasted figure of 52.9. The services business activity index […]
UK PMI Growth Accelerates, Retail Sales Increase
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The S&P Global UK Composite PMI for July 2024 was adjusted upwards to 52.8 from the initial 52.7 estimate, indicating faster economic expansion compared to June’s 52.3. UK private sector growth was fueled by increased demand, particularly in exports, reaching levels unseen since April 2023. Employment growth hit a 13-month high, while backlogs of work […]
Focus on GBPUSD today – 23rd July 2024
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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBPUSD for July 23 2024. Key Takeaways Technical Analysis Daily Chart Insights H1 Chart Insights Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Economic Activity Surges, Diminishing Likelihood of Fed Rate Reduction
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The S&P Global US Composite PMI jumped to 54.4 in May, a significant increase from 51.3 in April, achieving its highest point since April 2022 and surpassing the anticipated figure of 51.1 based on initial data. The service sector played a pivotal role in this rise, recording a PMI of 54.8 and demonstrating the largest […]
Australian PMI Expansion Continues, Stock Market Poised for Weekly Gains
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In April 2024, the Judo Bank Australia Composite Output Index dropped marginally to 53 from 53.3 the previous month, as per the final figures. Despite a slight deceleration, the private sector in Australia continued to expand robustly. The increase in business activities was mainly confined to the services industry while manufacturing production kept falling. This […]
Fed Maintains Interest Rates as Inflation Ticks Up
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The Federal Reserve maintained the target range for the federal funds rate at 5.25%-5.50% during its May meeting for the sixth consecutive time. The decision was driven by ongoing inflationary pressures and a tight labor market, indicating a lack of progress in bringing inflation back down to the 2% target this year. However, Chair Powell […]
Surprising Strength in ISM Manufacturing Data Weighs on Stocks and Bonds
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The manufacturing sector in the United States experienced a positive turnaround in March, as indicated by the ISM Manufacturing Purchasing Managers’ Index (PMI). The index rose to 50.3, up from 47.8 in February, surpassing market expectations of 48.4. It marked the first expansion in the manufacturing sector after 16 consecutive months of contraction. (A PMI […]
UK Stocks Regain Ground as NEXT Reaches All-Time High
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UK Stocks Rebound as NEXT Plc Achieves All-Time High On January 4th, the FTSE 100 made a strong comeback, rebounding by 0.5% to surpass 7720 after facing two consecutive sessions of losses. (FTSE100,1-Year Chart) Notably, energy shares, including BP, increased by 0.5% after terminating their agreement with Equinor for supplying power to New York state […]
Uncertainty Over Rate Cut Clouds US Stocks Prices
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Gloomy Economic Data The recent decline in US stocks on January 3rd, driven by uncertainties surrounding potential interest rate cuts, has left investors seeking clarity. The minutes from the latest Federal Open Market Committee (FOMC) meeting failed to provide a clear timeline for rate adjustments, contributing to a 0.8% drop in the S&P 500 and […]