As expected, euro buyers’ optimism faded immediately after the ECB press conference began, returning EURUSD back below 1.0600. Shortly after the initial surge in reports of an actual reversal in ECB policy, investors and traders Read more…
The Canadian labour market gained 40k positions in May, with full-time employment up 135k and part-time employment down 96k. The unemployment rate dropped by 0.1 percentage points, to 5.1%. The participation rate was unchanged at Read more…
Consumer price inflation rose by 1.0% month-over-month (m/m) in May – an acceleration from the 0.3% recorded the month prior. On a year-over-over basis, inflation accelerated by 0.3 percentage points from April, rising to 8.6%. Read more…
Daily Pivots: (S1) 133.53; (P) 134.04; (R1) 134.90; More… Intraday bias in USD/JPY stays neutral as consolidation from 134.55 is still extending. Downside of retreat should be contained above 131.34 resistance turned support. Break of Read more…
Daily Pivots: (S1) 0.9745; (P) 0.9781; (R1) 0.9839; More… Intraday bias in USD/CHF stays on the upside for the moment. Rise from 0.9543 should target a test on 1.0063 high. Firm break there will resume Read more…
Daily Pivots: (S1) 1.0561; (P) 1.0668 (R1) 1.0724; More… Intraday bias in EUR/USD stays on the downside at this point. Rebound from 1.0348 should have completed at 1.0786, , after multiple rejection by 55 day Read more…
Daily Pivots: (S1) 1.2469; (P) 1.2514; (R1) 1.2540; More… GBP/USD’s break of 1.2429 minor support argues that rebound from 1.2154 has completed at 1.2666 already. Intraday bias is back on the downside for retesting 1.2154 Read more…
Dollar rises strongly in early US session after CPI data. Headline inflation reaccelerated with strong rise in energy and food prices From this perspective, there is little scope for Fed to pause tightening in September. Read more…
Canada employment rose 39.8k in May, above expectation of 28.5k. Full time work rose 135k while part time jobs dropped -96k. Services producing jobs rose 81k while goods-producing jobs dropped -41. Unemployment rate dropped form Read more…
US CPI accelerated again from 8.3% yoy to 8.6% yoy in May, well above expectation of 8.2% yoy. That’s the highest level since December 1981. CPI core slowed from 6.2% yoy to 6.0% yoy, above Read more…