Previous Trading Days Events 28.06.2024

The U.S. manufacturing contracted for a third straight month in June as demand remained subdued. Inflation could continue to slow. Weakness at the end of the second quarter took place. Manufacturing is being pressured by higher interest rates and softening demand for goods, though business investment has largely held up.

The ISMs manufacturing PMI slipped to 48.5 last month from 48.7 in May. A PMI reading above 50 indicates growth in the manufacturing sector, which accounts for 10.3 of the economy. 

We expect the manufacturing sector to remain weak over the next couple of quarters, said Oliver Allen, senior U.S. economist at Pantheon Macroeconomics. The retreat in corporate bond yields since late last year seems to have provided some support to investment spending, but not enough to get manufacturing growing again. A much more significant loosening in financial conditions is required to change that.

Source httpswww.reuters.commarketsususmanufacturingmiredweaknesspricespaidgaugehitssixmonthlow20240701

Winners vs Losers

Silver managed to gain 0.82 this week and reached the top. USDCAD and USDJPY follow since the U.S. dollar is gaining ground. 

News Reports Monitor Previous Trading Day 01.07.2024

Server Time Timezone EEST UTC 0300

Midnight Night Session Asian

No important news announcements, no important scheduled releases.

Morning Day Session European and N. American Session

Manufacturing PMI releases…