CBA / Markit preliminary PMIs for August Manufacturing 51.3 vs. 51.6 in July Services 49.2 vs. prior 52.3 Composite 49.5 vs. prior 52.1 Weaker across both services and manufacturing (and therefore composite also)  CBA/Markit cite the key points: first reduction in output since March decline centred on the service sector New orders also decreased employment
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Weekly EIA data showed larger-than-expected draw in US crude inventories. API on Tuesday also reported drop in US crude oil stocks. Easing concerns over prolonged US-China trade war help oil prices stay in green. Although the weekly data published both by the American Petroleum Institue (API) and the Energy Information Administration (EIA) this week showed larger-than-expected draws
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Karen Jones, analyst at Commerzbank, suggests that GBP/USD’s rally has started to erode the 20 day ma at 1.2157 after last week the market based at 1.2015 and is correcting higher near term. Key Quotes “The market remains under pinned by the January 2017 low at 1.1988 (we have a 13 count on the daily
The S&P index fell -23.11 points or 0.79% at 2900.53 The NASDAQ index fell -54.25 points or -0.68% at 7948.56 The Dow industrial average fell -173.35 points or -0.66% at 25962.42 The major indices open lower but did recover midday and traded marginally higher before reversing and moving back down.    The European indices were higher earlier in the day, but gave up
The forex basics Exchange of a nation’s currency for that of another is Foreign Exchange (FOREX). The foreign exchange market is a largest non-stop financial market in the world where currencies of different nations are traded. This Forex market is bigger than three times the aggregate amount of the US Equity and Treasury markets combined.
Philadelphia Fed non manufacturing general business activity 7.5 versus 21.4 last month Coming Up! Title text for next article Philadelphia Fed nonmanufacturing general business activity nonmanufacturing general business activity for the region 7.5 versus 21.4 last month nonmanufacturing general business activity for your firm 32.5 versus 24.6 last month (see chart above) new orders 9.4 versus
Karen Jones, analyst at Commerzbank, suggests that USD/CHF pair is upside corrective near term, after the market saw a key day reversal on Tuesday last week from .9659. Key Quotes “A sustained break below the .9716/.9692 key support was not seen (location of the 25th June low, the January low and Fibo support) and we
Asian equities mildly higher after a better performance by Wall St overnight Japanese stocks are among the better performers amid more flat risk sentiment on the day. Chinese equities are not really roaring despite talk of more policy support with the Shanghai Composite nearly unchanged on the session currently. Looking ahead, European stocks should mirror
AUD/JPY stays above 23.6% Fibonacci retracement while falling behind 10-day EMA. Bullish MACD pushes buyers to aim for 72.85/87 resistance-confluence. Despite clearing 23.6% Fibonacci retracement of July-August declines, AUD/JPY struggles to cross 10-day exponential moving average (EMA) while taking rounds to 72.13 on Tuesday’s early Asian session. A sustained break of 72.20 immediate resistance can