Dallas Fed Manufacturing Index plunges to -17.7 in June vs. -3.1 expected

Dallas Fed Manufacturing Index fell sharply in June. The US Dollar Index continues to fluctuate near 104.00 after the data. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May. This print missed the market expectation of -3.1 by a … Read more

When are the US durable goods orders and how could they affect EUR/USD?

US durable goods orders overview Monday’s US economic docket highlights the release of Durable Goods Orders data for May. The US Census Bureau will publish the monthly report at 12:30 GMT and is expected to show that headline orders remained flat during the reported month as compared to the 0.5% rise in April. Orders excluding … Read more

XAU/USD advances to near $1,840 as G7 bans Russian gold imports

Gold price has given an upside break of $1821.25-1,831.87 as G7 bans Russian gold exports. Gold exports are the second largest revenue generation source for Russia. Lower expectations from the US economic data have weakened the DXY. Gold price (XAU/USD) has climbed above $1,836.00 after overstepping Friday’s high at $1,831.87. The announcement of a prohibition … Read more

IMF cuts 2022 US GDP growth to 2.9%, says path to avoiding a recession is ‘narrowing’

The US Gross Domestic Product (GDP) is now expected to grow 2.9% in 2022, lower than its recent forecast of 3.7% in April, IMF Managing Director Kristalina Georgieva said in an annual assessment of US economic policies over the weekend. Additional takeaways US economy will grow at 1.7% in 2023 and 0.8% in 2024. After … Read more

XAU/USD sees upside above $1830 ahead of downbeat US Durable Goods Orders

Gold price is expected to display an upside movement above $1,830.00. A downbeat performance looks likely from the US Durable Goods Orders. The gold prices are expected to display a lackluster performance on a symmetrical triangle formation. Gold price (XAU/USD) has displayed topsy-turvy moves in a range of $1,821.88-1,831.87 on Friday. The precious metal is … Read more

German IFO Business Climate Index drops to 92.3 in June vs. 92.9 expected

German IFO Business Climate Index came in at 92.3 in June. IFO Current Economic Assessment eased to 99.3 this month. June German IFO Expectations Index arrived at 85.8 The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic … Read more

The worry lines in the German economy are getting bigger

Following the release of the German IFO Business Surveythe institute’s Economist Klaus Wohlrabe said that “the worry lines in the German economy are getting bigger.” Additional quotes Index has fallen significantly in industry and retail. Expectations are more pessimistic. Despite increased uncertainty, there are no signs of a recession at the moment. Threat of gas … Read more