Daily Pivots: (S1) 135.71; (P) 136.21; (R1) 136.74; More… Intraday bias in USD/JPY is turned neutral with current retreat and some consolidations could be seen below 136.70 first. Downside should be contained above 131.48 support Read more…
While the stock markets are steady, Aussie, Kiwi, and to a lesser extend Loonie, are trading generally lower. Decline in commodity and energy prices, on concerns over recession, appear to be weighing down on these Read more…
Japan PMI Manufacturing dropped slightly from 53.3 to 52.7 in June, below expectation of 54.4. PMI Services rose from 52.6 to 54.2, highest since October 2013. PMI Composite Output rose form 52.3 to 53.2. Usamah Read more…
Australia PMI Manufacturing ticked up from 55.7 to 55.8 in June. PMI Services, on the other hand, dropped from 53.2 to 52.6. PMI Composite dropped from 52.9 to 52.6, a 5-month low. Laura Denman, Economist Read more…
Chicago Fed President Charles Evans said another 75bps rate hike is a “very reasonable place” to have a discussion at next FOMC meeting. He said, “I think 75 would be in line with continued strong Read more…
Philadelphia Fed President Patrick Harker said interest rates should go above 3% by the end of the year. Then Fed would assess how much more tightening is needed to bring inflation down. “We don’t have Read more…
DXY: On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices from our 1st support at 103.425 Read more…
Last week we lifted our forecast for the terminal US federal funds rate in December from 2.675% to 3.375%. We now expect this more aggressive approach to see the US economy stalling, with the risk Read more…
Major central banks around the world, except for the BOJ, are in tightening mode on the back of increasing inflation. In this article we will look at the Fed, BOE, ECB, BOC and BOJ. Where Read more…
Short term Elliott Wave in EURUSD suggests rally to 1.078 ended wave ((4)). Wave ((5)) lower is currently in progress with subdivision as a 5 waves impulse Elliott Wave structure. Pair however still needs to Read more…