GLOBALcycle ticks higher in May – JP Morgan

FXstreet.com (London) - The Global FX research team at JP Morgan said that their GLOBALcycle indicator, which tracks business conditions in economies covering 80% of world GDP, inched higher in May.

Their indicator suggests global activity has recovered modestly since early April. Leading the improvement are economic conditions in emerging markets, they said, particularly in Poland, India, China and Brazil. Meanwhile, they suggest business conditions continued to soften in the developed world. The pace of activity moderated in the US and Japan, while moving sideways in the euro area and gearing up in the UK. All in all, the teams feels global activity appears to be holding up in face of a modest US slowdown.