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Day: June 5, 2017
June 52017
Sterling Defies Fundamentals, Rising During Monday’s Session
Fundamentals were largely unfavorable to the Great Britain pound: uncertainty about the outcome of the upcoming general election, the slowdown of the services sector’s growth, and the terrorist attack on London. Yet all that did not prevent the currency from rising on Monday. The seasonally adjusted IHS Markit/CIPS Services PMI Business Activity Index dropped to 53.8 in May from 55.8 in April, far below the 55.1 reading predicted by analysts, demonstrating the slowest growth of the sector […]
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June 52017
Sterling Defies Fundamentals, Rising During Monday’s Session
Fundamentals were largely unfavorable to the Great Britain pound: uncertainty about the outcome of the upcoming general election, the slowdown of the services sector’s growth, and the terrorist attack on London. Yet all that did not prevent the currency from rising on Monday. The seasonally adjusted IHS Markit/CIPS Services PMI Business Activity Index dropped to 53.8 in May from 55.8 in April, far below the 55.1 reading predicted by analysts, demonstrating the slowest growth of the sector […]
Read more
June 52017
Australian Dollar Gets Help from China’s Services Sector
The Australian dollar jumped today against its peers, getting help from the good service sector data released in China during the current trading session. The seasonally adjusted Caixin China General Services Business Activity Index registered 52.8 in May, up from 51.5 in April. The sector demonstrated the fastest pace of growth since January. It allowed the Aussie to rise, ignoring Australia’s unimpressive macroeconomic reports and the drop of crude oil […]
Read more
June 52017
Australian Dollar Gets Help from China’s Services Sector
The Australian dollar jumped today against its peers, getting help from the good service sector data released in China during the current trading session. The seasonally adjusted Caixin China General Services Business Activity Index registered 52.8 in May, up from 51.5 in April. The sector demonstrated the fastest pace of growth since January. It allowed the Aussie to rise, ignoring Australia’s unimpressive macroeconomic reports and the drop of crude oil […]
Read more