Aussie/USD is struggling to hold onto the 0.74 level. The pair dropped to 0.7385, just above support at 0.7375. A further cushion awaits at 0.7325. Chinese data has the upper hand. The independent measure of China’s manufacturing sector now reflects a contraction in the sector. The Caixin manufacturing PMI fell from 50.3 to 49.6, more than 50.2 expected. The [...]
The post AUD/USD hit by Chinese PMIs, ignores Australian data appeared first on Forex Crunch.
After core inflation had already reached the highest since 2013, it fell back and even more than expected. This should not deter the ECB, says the team at ABN-AMRO: Here is their view, courtesy of eFXnews: ABN AMRO FX Strategy Research notes that Eurozone inflation dropped lower in May, as headline rate declined to 1.4%, down [...]
The post EUR: ECB To Stay On Course For Tapering Despite Drop In Core Inflation – ABN AMRO appeared first on Forex Crunch.
more coming
The post Canadian GDP beats with 0.5% m/m – USD/CAD falls appeared first on Forex Crunch.
The euro-zone was expected to report a slowdown in inflation. Headline CPI carried expectations for 1.5% after 1.9% seen in April. Core inflation was predicted to slip from 1.2%, the highest since 2013, to 1% in May. Early indicators from Germany, France, and Spain all pointed to even lower figures, as the actual data missed [...]
The post Euro-zone core inflation misses with 0.9% appeared first on Forex Crunch.
