Author: FX

China Caixin / S&P Global PMIs for May:Services a solid beat at 57.1, fifth consecutive month of expansionComposite 55.6In brief from the report:Both services supply and demand expanded furthergauges for business activity and total new orders both stood above 50 for the fifth consecutive month and logged their second-highest readings since November 2020External demand also maintained strong momentum, with the measure for new export orders staying in expansionary territory for five months in a rowEmployment in the services sector saw a marginal expansionIn May, the gauge for input costs remained in expansionary territory for the 35th consecutive month due to…

Share: AUD/USD holds lower grounds around intraday low while snapping two-day uptrend. RSI (14) line’s retreat from overbought territory joins U-turn from 200-EMA to lure Aussie sellers. Convergence of 50-EMA, one-week-old horizontal support zone challenges intraday sellers. AUD/USD licks its wounds around the intraday low of 0.6595 while printing the first daily loss in three amid Monday’s mid-Asian session. In doing so, the Aussie pair keeps the previous day’s retreat from the 200-bar Exponential Moving Average (EMA). Adding strength to the downside bias is the RSI (14) line’s U-turn from the overbought territory, as well as the receding…

Mario Tama/Getty Images News Mediterranean-themed restaurant chain Cava Group (CAVA) is set to launch a roadshow for its initial public offering as early as Tuesday. Cava (CAVA) plans to sell shares for $17 to $19, which at the high end would value the fast casual eatery at $2.2 billion, according to a WSJ report that cited people familiar with the matter. If the roadshow is successful, CAVA is expected to start trading on the NYSE the following week. Cava (CAVA) filed for an IPO last month. Based in Washington, DC, CAVA had 263 restaurants in 22 states and DC as…

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© Reuters. FILE PHOTO: An aerial view of Washington D.C., January 28, 2005, features the major landmarks of the U.S. capital. At bottom center is the Pentagon in Arlington, Virginia, cutting through the middle is the Potomac River, at center is the Washington Monume By Phil Stewart and Ted Hesson WASHINGTON (Reuters) – U.S. authorities scrambled jet fighters to pursue a light aircraft that violated airspace in the Washington D.C. area and later crashed into mountainous terrain in southwest Virginia, U.S. officials said. The jet fighters caused a sonic boom over the U.S. capital as they raced to catch up…

The services PMI due from China today is the privately conducted Caixin / S&P Global non-manufacturing PMI for May. China’s National Bureau of Statistics (NBS) published its services PMI last week. As background to this second PMI due today, China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global.The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers more small and medium-sized enterprises. As a result,…

Recommended by Manish Jaradi The Fundamentals of Trend Trading Global equity markets rose, led by solid gains in US equities, as markets cheered the passage of a debt ceiling bill that averted a catastrophic US default. Debt negotiations in Washington have been a key focus for markets in recent weeks, and the passage of the legislation that lifts the government’s $31.4 trillion debt ceiling removes a major uncertainty.The S&P 500 rose 1.8%, while the Nasdaq 100 index surged 1.7%. The German DAX 40 advanced by 0.4% while the UK FTSE 100 slipped by 0.2%. In Asia, the Hang Seng index…

choi dongsu Billions of dollars in sales across various MedTech markets will be at stake if there is a broader acceptance of weight loss drugs developed by Novo Nordisk (NVO) and Eli Lilly (NYSE:LLY), Morgan Stanley argued in a research note last week. Novo Nordisk’s (NVO) GLP-1 receptor agonist Wegovy is already approved in the U.S. for obesity, and Lilly (LLY) is advancing its diabetes medication Mounjaro that targets both GIP and GLP-1 receptors towards a weight loss indication before the year-end. Morgan Stanley analyst Terence Flynn estimates that Mounjaro and Wegovy, along with Novo’s (NVO) next-gen obesity drugs such…

6/6 © Reuters. A soldier reacts near the site of a reported security incident near Israel’s southern border with Egypt, Israel June 3, 2023. REUTERS/Amir Cohen 2/6 JERUSALEM (Reuters) -Israeli Prime Minister Benjamin Netanyahu on Sunday called the killing of three soldiers by a member of the Egyptian security services a terrorist attack and demanded a full joint investigation with Cairo. Egypt says it is working with Israel to investigate the incident which occurred on Saturday. “Israel relayed a clear message to the Egyptian government. We expect that the joint investigation will be exhaustive and thorough,” Netanyahu told his cabinet…

Share: In this analysis, we meticulously examine the recent performance of the Nasdaq 100 and US 500 indices to gauge their strength and determine whether the current trend can be sustained. By evaluating key indicators and price action, we aim to provide insightful guidance to traders and investors, equipping them with the knowledge to navigate the market confidently. Our analysis serves as a compass, illuminating the potential outcomes and market dynamics that may unfold in the coming trading sessions. By analyzing the performance of these major indices, we provide traders and investors with valuable insights into what to…