Gold stays muted as rising bond yields accompany the US dollar’s comeback. Momentum buying has pushed the precious metal near August’s high of 1803. The RSI’s multiple tops in the overbought zone and a bearish Read more…
The pound struggles over a rise in the UK’s unemployment rate. The pair has been hovering above 163.50 at the base of a bullish breakout in mid-October. This suggests that the bulls are still in Read more…
The euro slipped after ECB policymakers cautioned about fast rate hikes. The vertical ascent is a sign of a short-squeeze against medium-term positions as the pair approaches the July high of 1.0480. Its breach would Read more…
Markets EUR/USD yesterday pierced key resistance at 1.0341/50/68 (2017 low/May2022 low/August2022 high). The technical break fast-tracked the pair’s rally, in first instance towards 1.04. Lower-than-expected US producer price inflation served as second accelerator towards 1.0475. Read more…
US stocks extended rally yesterday, as the unexpected easing in producer prices beefed up the optimism that the Federal Reserve (Fed) would soften the monetary tightening and the better-than-expected New York Empire State Manufacturing index Read more…
Market movers today The G20 summit concludes in Bali and we look out for whether the communiqué indeed rejects an ‘era of war’ as previously rumoured. Market focus will be on the US retail sales Read more…
UK CPI accelerated from 10.1% yoy to 11.1% yoy in October, above expectation of 10.6% yoy. That’s highest level since 1981 based on modelled data. Core CPI was unchanged at 6.5% yoy, above expectation of Read more…
Daily Pivots: (S1) 164.42; (P) 165.32; (R1) 166.25; More… Intraday bias in GBP/JPY stays neutral first. Strong rebound from current level, followed by break of 166.06 minor resistance will turn bias back to the upside Read more…
Daily Pivots: (S1) 143.25; (P) 144.31; (R1) 145.25; More…. Intraday bias in EUR/JPY stays mildly on the upside at this point. Correction from 148.38 might have completed at 142.54, after hitting 38.2% retracement of 133.38 Read more…
Daily Pivots: (S1) 0.8685; (P) 0.8746; (R1) 0.8781; More… Intraday bias in EUR/GBP remains neutral for the moment. On the upside, break of 0.8827 will resume the rise from 0.8570 to 0.8869. Sustained break there Read more…