The Global PMIs will provide the first insight into economic activity during August. Apart from the Australian and Japanese PMIs in the Asian session,
initially rose to 1.0930 but then turned downwards, falling to test the support area at 1.0830. The pair remains under pressure and is approaching the 200-day Simple Moving Average .
Eurozone PMI data is due on Wednesday. The Composite PMI is forecasted to decline from 48.6 to 48.5. Weaker-than-expected numbers could weigh on the Euro. Additionally, Eurostat will release the preliminary August reading of Consumer Confidence later in the day. UK government borrowing came in below forecasts in July at £4.3 billion, £3.4 billion more than in July 2022. From April to July, the budget deficit was £56.6 billion, £11.3 billion less than what the Office for Budget Responsibility had forecasted in March. This provides some grounds for the government to consider tax cuts.traded above the 20-day Simple Moving Average , but it then pulled back below 1.2750. The pair is consolidating with a bullish bias in the short-term.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Candlesticks: A Complete Guide for Forex TradersLearn how to interpret candlestick charts for forex with our expert guide.
Read more »
Forex Today: Subdued volatility ahead of this week's key eventsHere is what you need to know on Monday, August 21: Markets started the new week in a quiet manner, with major currency pairs trading near Friday's cl
Read more »
Forex Today: US Dollar ends mixed, retains its leadershipWhat you need to know on Tuesday, August 22: The US Dollar lost some ground on Monday, although a scarce macroeconomic calendar kept major pairs withi
Read more »
Forex Today: US Dollar retreats as mood improvesHere is what you need to know on Tuesday, August 22: The US Dollar is having a hard time finding demand early Tuesday, with investors showing interest
Read more »
Stock market today: Global stocks up as traders await Fed conference for interest rate updateGlobal stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Read more »
Stock market today: Global stocks up as traders await Fed conference for interest rate updateGlobal stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Read more »