Daily Pivots: (S1) 0.9857; (P) 0.9892; (R1) 0.9943; More… Intraday bias in USD/CHF remains neutral and outlook is unchanged. Further rally will remain in favor as long as 0.9779 support holds. On the upside, break Read more…
The S&P 500 softened as the US GDP beat expectations in Q3. A close above October’s high at 3800 prompted sellers to cover, easing the pressure on the index. The support-turned-resistance at 3900 is a Read more…
The Japanese yen weakens as the BoJ maintains its ultra low rates. The RSI’s double top in the overbought area on the daily chart was a strong sign of overextension. A sharp fall below 150.00 Read more…
Traders took profit in the euro after the ECB raised its interest rates by 75 basis points as expected. A rally back to parity indicates strong interest in defending the historical exchange level. The price Read more…
Markets The ECB hiked its policy rates by another 75 bps yesterday, bringing the total effort to 200 bps since the inaugural rate hike in July. The ECB deposit rate now stands at 1.5%. Rumours Read more…
Swiss KOF Economic Barometer decreased from 93.8 to 90.9 in October, below expectation of 93.0. The index is now below its long-term average for the sixth month in a row. Outlook for the economy in Read more…
France GDP growth slowed to 0.2% qoq in Q3, matched expectations. That compares to 0.5% qoq growth in Q2. Final domestic demand (excluding inventories) contributed positively to GDP growth this quarter (+0.4%). Thus, gross fixed Read more…
An ugly week of Big Tech earnings is coming to an end, having wipe out hopes of seeing earnings boost gains across the stock markets. Yesterday, Meta plunged more than 24%; Nasdaq 100 lost almost Read more…
Market movers today Today we get the first Q3 GDP figures out of the big euro area economies. Consensus sees slowing but still positive growth in France and Spain. We expect Q3 will mark the Read more…
Daily Pivots: (S1) 145.62; (P) 147.01; (R1) 147.80; More… USD/JPY is extending the consolidation pattern from 151.93 and intraday bias remains neutral. Deeper pull back could be seen, but downside is expected to be contained Read more…