Daily Analysis: 4 June 2019

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USD

 

Fundamental Analysis

(4 June): US data, on Monday, ¬†surprised to the downside, as the Markit Manufacturing PMI resulted at 49.1 in May, below the preliminary estimate of 49.7. Furthermore, the official ISM Index printed 52.1, well below the 53.0 expected and the lowest since October 2016. Economic activity expanded at a slower than expected pace, fueling speculation of a possible rate cut in the US. Concerns were exacerbated by Fed’s Bullard, who said that a rate cut might be warranted soon amid trade and inflation risks. The central bank is scheduled to meet next week.

 

 

(3 June): Pound extended its decline last week as May’s resignation opens up the prospects of no-deal Brexit with Nigel Farage’s Brexit party leading the first wave of win in the general election. Elsewhere, Gilts dipped as BOE Deputy Governor Dave Ramsden indicated possibility of a rate hike should Brexit goes smoothly but pared those gains later in the day. Optimism for the currency remains dim as the currency held steady before dipping despite Speaker of the House John Bercow assurance that the Parliament can prevent a no-deal Brexit.

 

 

 

 

 

 

 

 

 

Technical Analysis

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EUR

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Fundamental Analysis

(4 June): US data, on Monday, ¬†surprised to the downside, as the Markit Manufacturing PMI resulted at 49.1 in May, below the preliminary estimate of 49.7. Furthermore, the official ISM Index printed 52.1, well below the 53.0 expected and the lowest since October 2016. Economic activity expanded at a slower than expected pace, fueling speculation of a possible rate cut in the US. Concerns were exacerbated by Fed’s Bullard, who said that a rate cut might be warranted soon amid trade and inflation risks. The central bank is scheduled to meet next week.

 

 

(3 June): Pound extended its decline last week as May’s resignation opens up the prospects of no-deal Brexit with Nigel Farage’s Brexit party leading the first wave of win in the general election. Elsewhere, Gilts dipped as BOE Deputy Governor Dave Ramsden indicated possibility of a rate hike should Brexit goes smoothly but pared those gains later in the day. Optimism for the currency remains dim as the currency held steady before dipping despite Speaker of the House John Bercow assurance that the Parliament can prevent a no-deal Brexit. …¬†[/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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