Daily Pivots: (S1) 127.58; (P) 128.28; (R1) 129.58; More… USD/JPY retreats after hitting 129.39, but intraday bias stays on the upside with 127.76 minor support intact. Current up trend should target 130.04 long term projection Read more…
Japan’s benchmark 10-year JGB yield is pulled above BoJ’s cap of 0.25% in Asian session today. That triggered intervention by BoJ to defend the ceiling. At the same time, USD/JPY breached 129 handle but quickly Read more…
Japan exports rose 14.7% yoy to JPY 8461B in March. That’s the 13th straight month of rise, reflecting robust demand for semiconductor manufacturing devices in Taiwan and steel product shipments to Vietnam. Imports rose 31.2% Read more…
Australia Westpac-MI leading index rose from 1.02% to 1.71% in March. That’s the fastest growth rate since May 2021. The data are consistent with Westpac’s expectation of around 5.5% GDP growth in 2022, with more Read more…
Atlanta Fed President Raphael Bostic told CNBC yesterday, “I think it’s really important that we get to neutral and do that in an expeditious way.” “I really have us looking at one and three-quarters by Read more…
Chicago Fed President Charles Evans said yesterday that he expected interest rate to be above neutral at 2.25-2.50% by the end of the year. “That’s my expectation, when I see that, taking out special factors, Read more…
DXY: We see a potential for bearish dip from 1st resistance level of 100.973 in line with 138.2% Fibonacci extension and 78.6% Fibonacci projection towards the 1st support level of 99.434 in line with 50% Read more…
Key Highlights AUD/USD started a fresh decline from the 0.7650 resistance. It traded below a major bullish trend line at 0.7530 on the 4-hours chart. EUR/USD is consolidating below 1.0850, and GBP/USD is struggling below Read more…
Citing Western sanction on Russia and ‘higher for longer inflation”, the IMF cut global growth by -0.8 percentage points for 2022. Tuesday US cash market close: The Dow Jones Industrial rose 499.51 points (1.45%) to Read more…
Short term Elliott Wave view in Silver suggests the decline from March 8 high is unfolding as a double three Elliott Wave structure. Down from March 8 peak, wave (W) ended at 24.47 and rally Read more…