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Forex Daily: S&P Global PMIs Post Release Analysis | InvestmentBell

AnáliseforexForex Daily: S&P Global PMIs Post Release Analysis

Forex Daily: S&P Global PMIs Post Release Analysis

The S&P Global PMI headline came out at 54.5 versus 50 expected and above the previous reading of 53.4. However the manufacturing component ticked lower which could add fuel to the USD strength implying to recession fears.

The initial market reaction was downwards for the USD implying relief from recession fears however i expect after revising the data the manufacturing component could imply for market investors recessionary fears and the higher PMI headline will add on the possibility of another rate hike in June.

DXY 1H
DXY 1H time frame

On a technical level, the DXY pulled back and is now flirting with the Fibonacci 70.5% retracement  level on the 1H time frame  as of the time of writing. Moreover the market sentiment is still risk-off S&P Futures -0.3%, DXY +0.15% and the US10 Year Yields +0.11% aligning with the fundamental view. With this view i favor Silver to be one of the best runners for today.

Trading these setups require a full fledge analysis, patience and good risk management.

 

 

 

 

 

 

 

 

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Maroon-Saliba39
Maroon-Saliba39
I've been writing Forex Analysis and trading daily for six years. I provide institutional market analysis and trading services. My passion is to leverage my knowledge, skills and experience in the financial market through sharing and receiving field knowledge and experience with as much people as possible and grow. I discovered the best way to keep learning is to bring my knowledge forward and open new learning horizons. Linkedin: https://www.linkedin.com/in/maroon-saliba-6b6497225/
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