Markets The US manufacturing ISM surprised to the downside yesterday, easing from 52.8 to 50.9. The lowest reading since May 2020 followed a (deeper) drop in employment and new (export) orders into contraction territory. Backlogs Read more…
The new week, the new month and the new quarter kicked off on a volatile, but a positive note. European indices ended the session with slight gains, the SMI eked out a 0.23% gain, as Read more…
Market movers today No key data releases out today. Three Fed speakers, Williams, Mesters and Daly, are on the wires ahead of a batch of US job market data this week. We continue to expect Read more…
Daily Pivots: (S1) 1.3553; (P) 1.3690; (R1) 1.3759; More… Break of 1.3601 minor support suggests short term topping in USD/CAD at 1.3832. Intraday bias is back on the downside for pull back. But downside should Read more…
Daily Pivots: (S1) 0.6437; (P) 0.6480; (R1) 0.6557; More… AUD/USD is staying in consolidation from 0.6362 and intraday bias remains neutral. Stronger recovery could be seen. But upside should be limited well below 0.6698 support Read more…
Daily Pivots: (S1) 144.06; (P) 144.67; (R1) 145.17; More… USD/JPY is staying in range trading below 145.89 and intraday bias remains neutral. Further rally is expected as long as 139.37 resistance turned support holds. Break Read more…
Daily Pivots: (S1) 0.9855; (P) 0.9903; (R1) 0.9972; More… Intraday bias in USD/CHF remains neutral for the moment. Further rally is in favor as long as 0.9694 support holds. On the upside, above 0.9964 will Read more…
Daily Pivots: (S1) 0.9770; (P) 0.9808; (R1) 0.9862; More… Intraday bias in EUR/USD remains neutral first. On the upside, firm break of 0.9863 support turned resistance will bring stronger rise to 55 day EMA (now Read more…
Despite the surprise on this move we retain our forecast that the terminal rate in this cycle will be 3.6%, with a series of 25 basis point moves out to March 2023 (previously February 2023). Read more…
USD/JPY: On the H4 chart, price is in a strong bullish trend. Furthermore, the price is above the ichimoku cloud, indicating that the market is bullish. Price broke through the 145 level overnight but failed Read more…