Gold rallied after US inflation in March came out less than market participants had expected. The metal’s medium-term uptrend is still intact as long as the price is above the major support at 1895. The Read more…
The New Zealand dollar bounced back after the RBNZ raised its interest rates by 50bp. The pair came under pressure after hitting resistance near the psychological level of 0.7000. The kiwi then saw bids at Read more…
US equity investors jumped on an emotional roller-coaster following the release of the inflation data in the US yesterday. The data came in at 8.5% for March, in line with expectations. This was the highest Read more…
Market movers today Today Bank of Canada is set to hike policy rates for the second time in the cycle and announce a passive roll-off of its balance sheet likely beginning in May. Consensus and Read more…
Daily Pivots: (S1) 1.0797; (P) 1.0850 (R1) 1.0880; More… Intraday bias in EUR/USD stays neutral with focus on 1.0805 low. Decisive break there will resume larger down trend to 61.8% projection of 1.1494 to 1.0805 Read more…
Daily Pivots: (S1) 1.2979; (P) 1.3017; (R1) 1.3039; More… Intraday bias in GBP/USD remains neutral for some consolidations, but outlook stays bearish as long as 1.3165 resistance holds. Break of 1.2981 will resume larger down Read more…
Daily Pivots: (S1) 1.0074; (P) 1.0115; (R1) 1.0141; More…. Intraday bias in EUR/CHF remains on the downside as fall from 1.0400 is extending. As noted before, rebound from 0.9970 could have completed already. Deeper fall Read more…
The forex markets trade in tight range in Asian session today. New Zealand Dollar got little support from the RBNZ 50bps rate hike. It’s actually trading as the weakest one for the day at the Read more…
BoC is widely expected to raise interest rate by 50bps to 1.00% today, to curb inflation which was already at a 30-year high. That would be the first half a percentage point hike since May Read more…
In true RBNZ style, the central bank came out swinging with a punchy 50 bps hike to tame inflation (and inflation expectations). Summary of today’s RBNZ statement: Increased the Official Cash Rate (OCR) to 1.50 Read more…