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The EUR/USD pair has found an intermediate cushion after a steep correction to near the psychological support of 1.1000. The major currency pair is de
The main Manufacturing Purchasing Managers’ Index (PMI) in the United States will be released by the Institute of Supply Management (ISM) in its Repor
The report’s key metric, the PMI, came at 47.1 (a reading of 50 or higher indicates growth), marking a slight 0.8% gain over March’s 46.3, while contracting, at a slower rate, for the sixth consecutive month. The past six months of contraction, through April, were preceded by a stretch of 29 consecutive months of growth. ISM also said that the overall economy contracted, at a slower rate, in April, for the sixth consecutive month, which was preceded by 30 consecutive months of growth.
New Orders and Production Contracting; Backlogs Contracting; Supplier Deliveries Faster; Raw Materials Inventories Contracting; Customers' Inventories Too…
Read about the drop in oil prices due to weak economic data from China and expectations of another US interest rate hike, despite OPEC+ supply cuts taking effect. Banking fears and US manufacturing data also weigh on crude prices. Will the Chinese recovery impact oil demand growth this year? Find out more here.