Despite a significant lift in the inflation outlook the RBA Board decided to maintain its low key 25 basis point policy. The Reserve Bank Board raised the cash rate by 25 basis points to 2.85% Read more…
Asian Indices: Australia’s ASX 200 index rose by 113.4 points (1.65%) and currently trades at 6,976.90 Japan’s Nikkei 225 index has risen by 73.88 points (0.27%) and currently trades at 27,661.34 Hong Kong’s Hang Seng Read more…
Equities fell and bond yields rose, as the hawkish Federal Reserve (Fed) fears resurfaced before Wednesday’s FOMC decision. The Fed starts its two-day meeting, and expectations are mixed. The Fed could call the end of Read more…
Market movers today Today we get US ISM manufacturing PMI. Consensus sees a decline to index 50 after the weaker than expected Markit PMIs last week. We also get PMIs out of Sweden and Norway Read more…
Daily Pivots: (S1) 0.6368; (P) 0.6398; (R1) 0.6428; More… AUD/USD recovered after drawing support from 0.6371, but stays below 0.6539 resistance. Intraday bias stays neutral first. On the upside, decisive break of 0.6535 resistance, and Read more…
Australian Dollar trades higher today, following recovery in Asian stock markets. RBA hikes by 25 bps as widely expected and indicates more tightening to come ahead. There is little reaction as the message is well Read more…
USD/JPY: The current general bias for USDJPY on the H4 chart is bullish. Overnight, USDJPY had some bearish momentum downwards. Price is currently trading above the support at 147.710 at time of writing. If this Read more…
China Caixin PMI Manufacturing rose from 48.1 to 49.2 in October, above expectation of 49.0. Caixin noted that output and new orders fell again as COVID-19 containment measures continued. Selling prices fell for the sixth Read more…
Japan PMI Manufacturing was finalized at 50.7 in October, slightly down from September’s 50.8. That’s the lowest level in 21 months. S&P Global noted that inflationary pressure remained severer. Business remained optimistic with sentiment at Read more…
Key Highlights GBP/USD gained pace and tested the 1.1650 zone. It broke a major bearish trend line with resistance near 1.1400 on the 4-hours chart. EUR/USD corrected gains from 1.0090 and might find bids near Read more…