Month: June 2022

RBA surprised and hiked more than expected this week; they lift the interest rate to 0.85% from 0.35% during the latest meeting, but Aussie did not rally much. We have seen 60 point move before Read more…

Eurozone GDP grew 0.6% qoq in Q1, revised up from prior estimate of 0.3% qoq. EU GDP grew 0.7% qoq. Ireland (+10.8%) recorded the highest increase of GDP compared to the previous quarter, followed by Read more…

UK PMI Construction dropped from 58.2 to 56.4 in May, below expectation of 56.9. S&P Global said total activity expanded at the slowest pace since January. Housing remained worst-performing category. Optimism was lowest since August Read more…

BoJ Governor Haruhiko Kuroda said today that Yen’s depreciation is “positive to the economy as long as the moves are stable”. He added, “various macroeconomic models show weak yen is positive.. But he also reiterated Read more…

Bitcoin continues its wild swings between $29-31.5K. By the end of the day on Tuesday, it had moved sharply back to the upper end of the range, but Wednesday began with a new dip, temporarily Read more…

NZDUSD entered a new bearish phase last Friday after failing to chart a new higher high above May’s peak of 0.6567, with the price falling as low as 0.6421 on Tuesday. The 20-day simple moving Read more…

USDJPY is flying towards a fresh 20-year high around 133.30, continuing the strong buying interest that started after the bounce off the 126.30 barrier. The 20- and 40-day simple moving averages (SMAs) failed to post Read more…

American stocks pared earlier losses on Tuesday as investors continued worrying about inflation and margins among companies. The rising cost of doing business and the logistics challenges have left many companies in a challenging situation. Read more…

The Euro is holding in red in early Wednesday and probing again through Fibo support at 1.0683 (23.6% of 1.0349/1.0786 upleg). Fresh bears emerged after recovery was rejected at pivotal Fibo resistance at 1.0787 (38.2% Read more…