Daily Pivots: (S1) 0.7466; (P) 0.7530; (R1) 0.7573; More… Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rise is expected as long as 0.7455 support holds. As noted before, whole corrective decline Read more…
Daily Pivots: (S1) 1.2427; (P) 1.2462; (R1) 1.2522; More… Intraday bias in USD/CAD remains neutral for the moment. Another fall could still be seen with 1.2591 resistance intact. Corrective pattern from 1.2005 could have completed Read more…
Markets are clearly in some risk aversion actions after Fed laid out the balance sheet runoff plan. Nikkei is leading other Asian stocks lower, after US indexes tumbled overnight. Australian Dollar is dragged down by Read more…
Australia AiG Performance of Services Index dropped -3.8 pts to 56.2 in March. Sales dropped sharply by -14.9 to 53.7. Employment dropped -0.3 to 54.4. But new orders rose 2.4 to 63.5. Input prices jumped Read more…
Bank of Japan board member Asahi Noguchi said while core consumer inflation may exceed 2% from April, it’s mainly driven by external factors rather than domestic demand. He added, “Japan is not experiencing the kind Read more…
In the minutes of the March 15-16 FOMC meeting, many participants said they would have preferred a 50bps hike because inflation was well above target, and risks were to the upside. However, a number of Read more…
Key Highlights NZD/USD climbed above 0.7000 before it started a downside correction. It broke a crucial bullish trend line with support near 0.6945 on the 4-hours chart. EUR/USD settled below the key 1.0950 support. GBP/USD Read more…
Natural gas has seen another strong rally, although lower oil prices yesterday saw it falter just beneath a key level of resistance, leaving clues of near-term exhaustion. During a joint press conference with the European Read more…
The Reserve Bank Governor surprised us on Tuesday with the Board’s decision to abandon its patient approach to monetary policy. Since the last Board meeting, when “patience” was emphasised, we have seen a further drop Read more…
Those who’ve been long the US dollar index (DXY) since the middle of last year have done well for themselves. The DXY has gained c. 12% from its January 2021 swing low of 89.21 to Read more…