The Japanese yen recoups some losses as the Q2 GDP growth beats expectations. The dollar’s rally gained momentum after it lifted July’s high at 139.40. 145.00 is a hurdle and may see some profit-taking after Read more…
The euro recoups losses as traders expect a 50bp interest rate increase by the ECB. A bearish MA cross on the daily chart following a brief consolidation shows that the mood remains cautious at best. Read more…
EUR/USD The single European currency recovered some of its recent losses against the dollar and the price breached the resistance at 0.9985. If the bullish attack continues, then a successful violation on the next target Read more…
Markets The biggest move in core bonds happened on UK soil. Gilt yields crashed 20bps at the front end of the curve. Some BoE officials, testifying before Parliament, pointed out that the new government’s energy Read more…
Yesterday, the Bank of Canada (BoC) raised its policy rate by 75bp at yesterday’s meeting, as expected. Today, the European Central Bank (ECB) will decide by how much they will be raising their policy rates. Read more…
Market movers today The highlight today will be the ECB meeting, where we look for a 75bp hike in all three policy rates (see also ECB Research: We expect 75bp at the meeting next week, Read more…
Daily Pivots: (S1) 164.70; (P) 165.35; (R1) 166.51; More… Intraday bias in GBP/JPY stays on the upside for the moment. Firm break of 166.31 resistance will argue that larger up trend is ready to resume Read more…
Daily Pivots: (S1) 142.14; (P) 143.07; (R1) 144.80; More…. Intraday bias in EUR/JPY remains on the upside at this point. Decisive break of 144.26 high will confirm up trend resumption. Next target is 61.8% projection Read more…
Daily Pivots: (S1) 0.8617; (P) 0.8653; (R1) 0.8710; More… Intraday bias in EUR/GBP is back on the upside as rise from 0.8338 resumed. Decisive break of 0.8720 high will carry larger bullish implications. Next target Read more…
Daily Pivots: (S1) 1.4720; (P) 1.4761; (R1) 1.4825; More… EUR/AUD’s rebound from 1.4281 extends higher today and intraday bias is back on the upside. Stronger rally would be seen back towards 1.5396 resistance. On the Read more…