Day: April 1, 2022
US: ISM Manufacturing Index Registers 22nd Consecutive Month of Expansion
The March ISM manufacturing index registered 57.1, missing expectations of a 59.0 print. The index fell 1.5 percentage points from the February reading of 58.6. New orders fell by 7.9 percentage points to 53.8, while new export orders fell by 3.9 percentage points to 53.2. The backlog of orders sub-index came in at 60.0, falling …
US: ISM Manufacturing Index Registers 22nd Consecutive Month of Expansion Read More
Economy added 431,000 jobs in March despite worries over slowing growth
Amid soaring inflation and worries about a looming recession, the U.S. economy added slightly fewer jobs than expected in March as the labor market grew increasingly tighter. Nonfarm payrolls expanded by 431,000 for the month, while the unemployment rate was 3.6%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been …
Economy added 431,000 jobs in March despite worries over slowing growthRead More
EUR/USD Pair Started a Fresh Decline from $1.1180
The Euro started a fresh decline from the 1.1180 resistance zone against the US Dollar. The EUR/USD pair declined below the 1.1120 level to move into a short-term bearish zone. The price even traded below the 1.1100 level and the 50 hourly simple moving average. There was a break below a key bullish trend line …
GBPJPY is Back to Gains; Broader Outlook is Bullish
GBPJPY is gaining some ground again after three consecutive red days with the technical indicators endorsing this view. The RSI is heading up in the positive region and the MACD is looking highly elevated above its trigger and zero lines. However, the stochastic is approaching the oversold zone indicating that the next move would be to the …
GBPJPY is Back to Gains; Broader Outlook is BullishRead More
USDCAD Rebounds Off 1.2450 But Remains Below Uptrend Line
USDCAD has been heading south over the last two weeks, reaching the 50.0% Fibonacci retracement level of the up leg from 1.2000 to 1.2960 at 1.2482. The price also declined beneath the long-term uptrend line and the 200-day simple moving average (SMA) but has found support at the 1.2450 barrier over the last couple of …
USDCAD Rebounds Off 1.2450 But Remains Below Uptrend LineRead More
US 30 Keeps High Ground
The Dow Jones 30 retreats on profit-taking as the first quarter draws to an end. A bullish MA cross on the daily chart suggests that the rebound is picking up steam. The index hit resistance around 35400 and went horizontal, allowing the bulls to take a breather. Buyers may find relief as the RSI tanks …
USD/JPY Approaches Key Support Ahead of US NFP
Key Highlights USD/JPY started a fresh decline from the 125.00 resistance zone. It traded below a major bullish trend line with support near 122.30 on the 4-hours chart. Crude oil price is struggling to gain pace above $108 and $110. The US nonfarm payrolls could increase 490K in March 2022, down from 678K. USD/JPY Technical …
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