The Japanese yen rallied after July’s CPI exceeded expectations. A lack of support from the 30-day moving average (136.50) has put the dollar bulls on the defensive. Then a drop below the demand zones around Read more…
EUR/USD The pair ended yesterday’s volatile session without significant changes. Data on the declining U.S. GDP kicked off a technical recession in the country, which in turn supported the euro. Nevertheless, expectations remain negative, and Read more…
Markets Core bonds went through the roof yesterday. The US yield curve bull steepened with changes varying between -15.1 bps (5y) to -4.3 bps (30y). The 10y yield’s technical picture risks deteriorating dramatically if the Read more…
US GDP had a nasty surprise for everybody overnight, unexpectedly falling by 0.90%, when market expectations were for a modest 0.50% gain. That marked two consecutive negative quarters of US growth, meaning that for many Read more…
Swiss KOF Economic Barometer dropped sharply from 95.2 to 90.1 in July, well below expectation of 95.2. That’s also the third decline in a row, with the value below its long-term average by almost 10 Read more…
Daily Pivots: (S1) 133.42; (P) 135.02; (R1) 135.84; More… USD/JPY’s decline from 139.37 medium term top continues today and hit as low as 132.74 so far. It’s now seen as in correction to medium term Read more…
Yen’s rally intensified overnight and continues in Asian session. The move came in particular as US 10-year yield tumbled following the poor GDP report. For now, Dollar and Euro are the worst performing ones for Read more…
Gold’s rebound from 1680.83 short term bottom picks up further momentum on broad based Dollar selling. Further rise is now expected as long as 1733.85 minor support holds, for channel resistance at 1778.91. But there Read more…
France GDP grew 0.5% qoq in Q2, better than expectation of 0.2% qoq. Foreign trade contributed to +0.4 points to GDP growth this quarter, after +0.1 points in the previous quarter. This large contribution is Read more…
Japan industrial production rose strongly by 8.9% mom in June, well above expectation of 3.7% mom. That’s also the biggest monthly rise since data become available in 2013. Car production jumped 14.0% mom thanks to Read more…