Ivey manufacturing PMI for May There was a time when the data was a big influence on the market, but volatility in the index from month to month has taken the influence out of the release.
House price data from Quotable Value No reaction from the kiwi.
No expectations. Last month came in at 71.5 Last month the Ivey PMI spiked higher to 71.5 from 59.8 in March. That was the highest reading since March 2011 when it reached an all time high at 73.30.
Cites better trade data from earlier today Both Goldman and Barclays have raised their GDP 2Q tracker by 0.1% on the back of better trade today. Goldman is tracking 3.8% from 3.7% last
Further comments on the day by ECB member Klass Knot Reinforcing his earlier comments on the day. They can’t be more clear with the that they’re trying to send today to the market.
Major indices open higher The US stock markets are open and the major indices are up. – The S&P is up 6.6 points or 0.25% – The Nasdaq is up 16 points or 0.21%
It was just last week, the pair stalled at the 100 day MA The USDJPY last week tested the 100 day MA (blue line in the chart below). The low reached 108.10.
Bulls making a play The EURUSD today was able to break above the 100 bar MA on the 4-hour chart. That MA stalled the rallies yesterday/this week. Today, after some dancing around the level, buyers made a play and have pushed through and away from the MA level. Buyers taking more control. Stay above is…
Spain’s Ibex leads at +0.7%. France’s CAC falls -0.1% The European major stock indices are ending the session with modest gains (mostly). – German Dax rose 0.4% In the 10 year debt sector, yields moved higher on the back of the ECB hints of QE exit:
Approaches a topside target area The best way to characterize the GBPUSD trading is a chop higher. The price has moved higher but there are a lot of 15-20 pip moves back and forth. You can see that on the 5-minute chart below.