Eurozone PMI Manufacturing rose from 47.1 to 47.8 in December. PMI Services rose from 48.5 to 49.1. PMI Composite rose from 47.8 to 48.8. Still, the downside extended into its sixth successive month, even though Read more…
GBPJPY reversed to the downside to test its short-term simple moving averages (SMAs) after the pullback off the 169.05 barrier. Although the pair has been printing higher lows above September’s trough, it was unable to find enough buying Read more…
The Euro started a fresh increase above the 1.0650 and 1.0665 resistance levels against the US Dollar. The EUR/USD pair gained pace above the 1.0680 level to move further into a positive zone. It tested Read more…
Bundesbank projects that the German economy will contract -0.5% in 2023, then grow by 1.7% in 2024 and 1.4% in 2025. President Joachim Nagel said, “Economic output is likely to shrink initially, but we expect a Read more…
The Nasdaq 100 plunged as global central banks’ hawkishness rattled investors. The choppy price action was due to multiple catalysts this week and layers of resistance from last September’s sell-off. The most recent rally reversed Read more…
The New Zealand dollar slipped after the Fed stressed on keeping the interest rates high for longer. The kiwi’s break above the August high of 0.6460 has helped improve sentiment. Now the bulls will need Read more…
The Swiss franc retreated after the SNB raised its policy interest rate by 50 basis points as expected. On the daily chart, the US counterpart is testing last April’s lows near 0.9220 after giving up Read more…
Markets The ECB delivered a 50 bps hawkish-to-the-bone rate hike yesterday. More than a third of ECB governors wanted a third 75 bps move, Bloomberg reported. To get the hawks on board, the ECB’s communication Read more…
Daily Pivots: (S1) 1.0568; (P) 1.0652; (R1) 1.0711; More… Intraday bias in EUR/USD is turned neutral first with current retreat. But further rally is expected as long as 1.0481 resistance turned support holds. Firm break Read more…
