Daily Pivots: (S1) 1.2527; (P) 1.2607; (R1) 1.2649; More… USD/CAD’s fall from 1.3075 is still in progress, and intraday bias stays on the downside for 1.2401 support. Decisive break there will argue that whole rebound Read more…
Market movers today The most important data release of the day will be the US May Jobs Report. While the ADP report released yesterday was weaker than expected, most indicators still point towards labour demand Read more…
The most anticipated OPEC+ meeting of the year turned out to be a damp squib in the end. OPEC+ agreed to increase output in July and August to 648,000 bpd from the previously agreed 432,000 Read more…
Daily Pivots: (S1) 0.7181; (P) 0.7226; (R1) 0.7310; More… AUD/USD’s rebound from 0.6828 extends further and intraday bias stays on the upside. Breach of 0.7265 resistance is a sign that whole corrective fall from 0.8006 Read more…
Commodity currencies remain in the driving seat for the week, with Aussie having a slight upper hand over Loonie. Both are supported by firmer risk sentiments, as well as expectations for more tightening. Yen is Read more…
US non-farm payroll employment is the main focus for today. The US economy is expected to add 325k jobs in May. Unemployment rate is expected to drop from 3.6% to 3.5%. Average hourly earnings are Read more…
Cleveland Fed President Loretta Mester said yesterday, “if by the September FOMC meeting, the monthly readings on inflation provide compelling evidence that inflation is moving down, then the pace of rate increases could slow. But if Read more…
DXY: On the H4, with MACD moving in a bullish momentum and breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 102.618 where the horizontal Read more…
Key insights from the week that was. Australian GDP surprised to the upside in Q1 2022, gaining 0.8% to be 3.3% higher than a year ago. As expected, household consumption was a key support, total Read more…
The Reserve Bank Board meets on June 7 next week. Immediately following the Board’s decision to raise the cash rate by 25 basis points on May 3 we argued that the correct policy decision for Read more…