Month: May 2020

Australian dollar technical analysis Credit Suisse discusses AUD/USD technical outlook and highlights the importance of the 0.6706 level for near-term direction.  “AUDUSD saw another concerted effort to break above the pivotal resistance zone composed of the 200-day average, the March high and 78.6% retracement at 6706. Although further consolidation should still be allowed for, in
Purchasing managers’ index (PMI) data for May from China’s National Bureau of Statistics (NBS). Manufacturing PMI 50.6 expected 51.1, prior 50.8 Non-manufacturing 53.6 expected 53.5, prior 53.2 Composite 53.4 prior 53.4 Expansion for the manufacturing sector continued in May, although by a smaller margin than in April. Just over 80% of manufacturing business has now
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European stocks see red to kick start the day Eurostoxx -1.0% Germany DAX -1.1% France CAC 40 -1.1% UK FTSE -1.1% Spain IBEX -1.3% Once again, this partly reflects some catch up to the declines seen in US stocks overnight as European indices closed before the late drop from the Trump announcement on China. That