Germany's exports rebounded at a stronger than expected pace in April despite sanctions imposed on Russia dampening trade in Europe. Exports advanced 4.4 percent on a monthly basis, in contrast to the 3.0 percent decline posted in March, data from Destatis showed on Friday. Shipments were expected to grow only 1.5 percent. more...
New Zealand's terms of trade improved 0.5 percent on quarter in the first three months of 2022, Statistics New Zealand said on Thursday. more...
A report released by the Conference Board on Tuesday showed a modest decrease in U.S. consumer confidence in the month of May. The Conference Board said its consumer confidence index dipped to 106.4 in May from an upwardly revised 108.6 in April. more...
The US Dollar (via the DXY Index) has lost ground for two consecutive weeks. Interest rate differentials have narrowed among the major currencies, undercutting a key source of US Dollar strength in recent months. Incoming US economic data won’t do any favors for the ‘US recession’ calls, but key US labor market figures will likely remain strong. The US Dollar has a bearish bias heading into the first week of June. more...
The Euro saw its best two-week performance since January as the markets boosted ECB rate hike bets and cooled Fed tightening expectations. EUR/USD still faces multiple obstacles next. Daily price was bounced from 1.0349 support level to above for the bear matrket rally to be started. The price is trying to break the bullish triangle pattern with 1.0764 resistance level to above for the possible bullish reversal to be started. Alternatively, the ...
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