Pepperstone - Analytics

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    The Daily Fix - 1/6/2016

    Posted on: 01 June 2016, by: Pepperstone Support, category: Market Review

    US Data summary:

    US consumer confidence fell from 94.7 to 92.6 in May versus 96.1 expected. The decline was concentrated in the present situation index (down from 117.1 to 112.9), though expectations also nudged lower(from 79.7 to 79.0). 
    Additionally, both the Chicago PMI and Dallas Fed Manufacturing Survey underwhelmed on Tuesday.
    Having little to no impact: personal income remained at 0.4%MoM as expected; personal spending at 1.0% versus 0.7% expected; and the savings rate dropped back from 5.7% to 5.4%. PCE data was as expected showing core at 1.6%YoY.   The Atlanta GDPNow forecast remained at 2.9% following the spending and income data.
    S&P is back below 2,100, while US 10y yield has fallen to 1.8450%.  Month-end and soft data explain. USDJPY has slipped to (and held) the 110.50 support area.

    Canadian Real GDP was 2.4% annualized in Q1, following a downwardly revised increase of just 0.5% annualized in 4Q 2015. USDCAD continues to put in lower lows while Oil waffles around in front of $50 USD.

    GBPUSD has slipped 1.4470  on strong selling participation following a new ICM poll–Brexit led by 3.0% in both phone and online polling. Before this, in early London, the ORB poll from the Telegraph showed that remain had narrowed a lead of 13 points to just 5 points.

     


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