Eurozone inflation hits new record high in May
Eurozone inflation continued to rise and hit new record high at 8.1% in May, on jump from April’s 7.4% and beating expectations for 7.7% increase.
The core inflation which excludes volatile food and energy prices, as well as alcohol and…
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Brent oil rises to two-month high, on track for the sixth straight month of gains
Brent oil rose to new two-month high on Tuesday and probed through psychological $120 level, as bull-run extends into the ninth straight day and the contract is about to end the sixth consecutive month in green.
Easing of Covid…
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Better than expected China PMI’s signal the economic slowdown loses traction, but the figures remain…
China’s Purchasing Managers’ data for May showed stronger than expected performance in both, manufacturing and services sectors, as easing of Covid restrictions in the major cities boosted activities, however the figures remain in…
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German inflation rose well above expectations in May adding to calls for stronger ECB rate hike
Consumer prices in Germany rose by 0.9% month-on-month in May from 0.8% in April and strongly beat forecast for 0.5% increase, while annualized inflation hit the multi-decade high at 7.9% from 7.4% previous month and above 7.6% consensus.…
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Fresh strength suggests that corrective pullback might be over
Bulls started to gain traction after pullback from 20-year high (131.34) found firm ground at 126.60/40 zone and fresh strength emerged on Monday.
Yen came under renewed pressure on rising prices of crude oil and a gap between the monetary…
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Recovery loses steam after two-week rally but bulls remain in play
Cable keeps positive tone at the start of the week following strong rally in past two weeks (3.1%) but bulls face headwinds from falling weekly Tenkan-sen (1.2661) which capped recovery last Friday and continues to limit the action today.…
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Germany further downgrades outlook for 2022 as situation worsens on war, China’s lockdowns
Darkening outlook for German industry in 2022, due to war in Ukraine and recent lockdowns in China that deepened persisting supply chain crisis, prompted officials from two leading associations to further downgrade forecasts for the rest of…
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Oil hits 9-week high as traders focus on EU meeting on Russian sanctions
WTI oil price rose to a nine-week high in early Monday, maintain bullish stance following last week’s 4.2% rally.
Traders focus on today’s EU summit, in which bloc’s leaders will try to reach an agreement on the sixth package of sanctions…
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Bulls remain in play but face strong headwinds
The Euro remains constructive in early Monday’s trading following strong advance in past two weeks, but bulls are facing headwinds from pivotal barrier at 1.0767 (50% retracement of 1.1184/1.0349 / falling 55DMA).
Weaker dollar continues…
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Rise in US consumer spending boosts optimism that inflation may have peaked
The US personal consumption expenditures price index (PCE), the gauge of the average increase in prices for all domestic personal consumption, rose by 0.2% m/m in April after increasing by 0.9% in March, while annualized figure advanced…
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