Month: October 2022

Daily Pivots: (S1) 0.6352; (P) 0.6447; (R1) 0.6503; More… Intraday bias in AUD/USD remains neutral as consolidation from 0.6362 could extend. Another recovery cannot be ruled out, but upside should be limited well below 0.6698 Read more…

The forex markets are still staying in consolidative mode for now, awaiting guidance from US non-farm payrolls. For now, some Fed hawks are rather clear that there’s seeing no case for slowing down tightening yet. Read more…

USD/JPY: On the H4 chart, USDJPY is in a bullish trend. In addition, the price is above the ichimoku cloud, indicating that the market is bullish. Price bounced off the second support level at 143.519, Read more…

Focus turns to employment data from US and Canada today. US non-farm payroll report is expected to show 265k growth in September. Unemployment rate is expected to be unchanged at 3.7%. Average hourly earnings is Read more…

Fed Governor Christopher Waller said in a speech yesterday, “Inflation is far from the FOMC’s goal and not likely to fall quickly. This is not the inflation outcome I am looking for to support a Read more…

BoC Governor Tiff Macklem said in a speech yesterday, “We know we are still a long way from the 2% (inflation) target. We know it will take some time to get there. We also know Read more…

Key insights from the week that was. The RBA surprised markets this week by slowing the pace of rate hikes, opting for a 25bp move against expectations of a 50bp increase. Meanwhile, the RBNZ continued Read more…

Key Highlights USD/JPY started a fresh increase above the 144.50 resistance. It broke a key declining channel with resistance near 144.80 on the 4-hours chart. EUR/USD started a fresh decline after it failed to clear Read more…

Some investors and traders believe that the Fed may “pivot” and reduce the pace of rate hikes as soon as the November 2nd FOMC meeting.  According to the CME’s Fedwatch Tool, traders are 74% sure Read more…