In June economic report, Japan’s government said “industrial production appears to be pausing for picking up.” That’s a downgraded assessment from May’s “industrial production shows movements of picking up.” Exports continued to be “almost flat”. Read more…
After a meeting with Japan Prime Minister Fumio Kishida, BoJ Governor Haruhiko Kuroda said “I told the prime minister that recent rapid yen moves were undesirable”. “(Kishida) did not say anything special but I told Read more…
The crypto market has set several historic lows in recent days, demonstrating the fragility and naivety of its historical patterns. In a 37% drop, Bitcoin closed below its 200-week moving average for the first time. Read more…
Gold got immediately congested within the $1,837 – $1,855 region following last week’s bounce off the $1,805 low. The 20- and 200-day simple moving averages (SMAs) are currently limiting bullish pressures, while the RSI and Read more…
EURUSD is returning below the 1.0500 psychological level after the jump towards the 1.0600 barrier. The sideways move within the 1.0345 multi-month low and the 38.2% Fibonacci retracement level of the down leg from 1.1495 Read more…
EUR/USD The single European currency continues to lose ground against the dollar. And while the support at 1.0460 has so far managed to hold off the bearish pressure, the overall market mood remains negative. A Read more…
Cable is consolidation after 1.1% drop on Friday, which was contained by 5DMA, with a narrow range in early Monday suggesting a lack of direction. Daily studies are bearishly aligned with strong negative momentum and Read more…
The Dax 40 struggles as investors grapple with the prospect of stagflation. A break below the daily support at 13300 invalidated the May rebound and could put the index on a bearish course in the Read more…
The Swiss franc edges higher as the market continues to price in the SNB’s hawkish turn. The euro’s plunge below the daily support at 1.0230 caused leveraged long positions to close out, driving up volatility. Read more…
EUR/GBP rises despite Macron’s loss & as German PPI rises The euro is rising despite disappointing election results for Macron over the weekend. Macron became the first French President in the decade to fail to Read more…