Markets continue to lean towards a Fed’s pause in June., starts the new trading week in a positive fashion beyond the 104.00 hurdle on Monday.The index so far advances for the second session in a row and reclaims the area above the 104.00 level on the back of further selling pressure in the risk-linked galaxy despite positive prints from the Chinese calendar earlier in the Asian session.
Moving forward, traders are expected to follow the release of the ISM Services PMI due later in the NA session along with the final S&P Global Services PMI for the month of May as well as April’s Factory Orders.The index picks up further pace and looks to regain the bullish outlook above 104.00 at the beginning of the week.
instead appears to be the extra tightening of credit conditions in response to uncertainty surrounding the US banking sector.: Final Services PMI, ISM Services PMI, Factory Orders – IBD/TIPP Economic Optimism index – MBA Mortgage Applications, Balance of Trade, Consumer Credit Change – Initial Jobless Claims, Wholesale Inventories .: Persistent debate over a soft/hard landing of the US economy. Terminal Interest rate near the peak vs. speculation of rate cuts in late 2023/early 2024.
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Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »