Jerome Powell, Christine Lagarde and Andrew Bailey blamed pandemic and the war for sending inflation off the chart at a European Central Bank (ECB) event yesterday. We blame them for having called inflation transitory, and Read more…
Daily Pivots: (S1) 1.2860; (P) 1.2880; (R1) 1.2916; More… Intraday bias in USD/CAD remains neutral for the moment. On the downside, below 1.2818 will extend the fall from 1.3077 to 55 day EMA (now at Read more…
Daily Pivots: (S1) 0.9504; (P) 0.9542; (R1) 0.9588; More… USD/CHF continues to lose downside momentum as seen in 4 hour MACD, and intraday bias stays neutral. Fall from 1.0048 is still seen as the third Read more…
Daily Pivots: (S1) 1.0406; (P) 1.0471 (R1) 1.0506; More… Range trading continues in EUR/USD and intraday bias remains neutral first. Further decline is in favor with 1.0614 minor resistance intact. On the downside, sustained break Read more…
Daily Pivots: (S1) 1.2081; (P) 1.2147; (R1) 1.2188; More… GBP/USD is still bounded in range above 1.1932 and intraday bias remains neutral. Further fall is in favor as long as 1.2331 minor resistance holds. Firm Read more…
Swiss Franc remains the runaway leader for the week so far. Dollar and Canadian are competing for the second place. On the other hand, New Zealand Dollar is the worst, followed by Sterling and then Read more…
China official PMI Manufacturing rose from 49.6 to 50.2 in June., above expectation of 49.6. Sub-index for production rose to 52.8, highest since March 2021. PMI Non-Manufacturing rose from 47.8 to 54.7, above expectation of Read more…
New Zealand ANZ Business Confidence dropped from -55.6 to -62.6 in June. Own activity outlook dropped from -4.7 to -9.1. Investment intentions dropped from 8.6 to -3.2. Employment intentions dropped form 6.1 to 0.7. Cost Read more…
Japan industrial production dropped -7.2% mom in May, much worse than expectation of -0.3% mom. That was also the worst contraction in two years, since the -10.5% mom decline in May 2020. The index of Read more…
US equities struggled for direction overnight, with the S&P 500 and Nasdaq almost unchanged, while the Dow Jones eked out a small gain. The outcome is hardly surprising with Wall Street tying itself up in Read more…