May’s 1.9% increase in German manufacturing orders suggests a gradual industrial rebound after prolonged stagnation and a weak Q2. German manufacturing orders climbed 1.9% in May from April, exceeding economist expectations of just over 1%. Excluding volatile large orders,
Regulator finds the rebranding of 167 Auchan stores under Intermarché or Netto banners poses no competition risks in French retail. France’s competition authority cleared a deal allowing 167 Auchan supermarkets and hypermarkets to rebrand as Intermarché or Netto under a jo
Trade uncertainty from USMCA non-renewal and BoC survey data weigh on the Canadian dollar despite narrower US-Canada yield spreads. The Canadian dollar remains soft against the US dollar, trading around 1.4215 as consolidation continues. Narrower front-end yield spreads be
The British Pound surged to its strongest level against the Japanese Yen since January 2008 amid sustained pressure on the Yen. The GBP/JPY cross climbed to 216.75, a level last seen in January 2008, as the Japanese Yen extended its decline. The pair rose 0.60% on the day,
Australian Dollar: Testing major support with rebound risk against US Dollar – Societe Generale Societe Generale analysts describe AUD/USD extending its pullback after breaking below the May trough around 0.7070 and retesting the 200-DMA near 0.6870/0.6830, aligned with March...<
Recent resilient economic indicators support the Euro’s recovery against the USD after a period of weakness. EUR/USD climbed back above 1.1400, nearing the lower bound of its 1.1400–1.1800 trading range. The pair had faced downward pressure from softer economic data and di
Recent resilient industrial output and confidence data support a potential rebound in EUR/USD toward 1.1800, MUFG analysts say. EUR/USD is trading just above 1.1400, testing the lower bound of its 1.1400–1.1800 range established over the past year. The pair had faced press
ING forecasts a 25bp hike by New Zealand’s central bank next month to curb inflation expectations, though risks grow it may be a one-off move. The Reserve Bank of New Zealand is expected to raise its policy rate by 25 basis points to 2.50% in July, despite a sharp decline
The USD is higher with the USDJPY the biggest mover with a gain of 0.59% after testing a swing level near 160.446 on Friday and bouncing and continuing the run to the upside today back through the 100 and 200 hour MA between 161.86 and 161.92. Remember the 161.95-97 was th
Societe Generale strategists Kit Juckes and Olivier Korber argue that Dollar strength remains underpinned by robust US growth, sticky inflation and a favourable terms of trade shock versus Europe and Asia. They note the Dollar has already risen against most majors and expe
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