Month: December 2022

Daily Pivots: (S1) 1.2365; (P) 1.2405; (R1) 1.2469; More… GBP/USD is losing upside momentum as seen in 4 hour MACD. But there is no sign of topping yet. Current rise from 1.0351 is still in Read more…

Market reactions to the more hawkish than expected Fed projections were relatively muted. Stocks ended just slightly down while there was no buying momentum for Dollar. The greenback is staying as the worst performer for Read more…

SNB, BoE and ECB rate decisions are the focuses of the day and all are expected to deliver 50bps rate hikes. There are some talks that given SNB only meets every quarter, it may surprise Read more…

China retail sales contracted -5.9% yoy in November, much worse than expectation of -3.9% mom. Industrial production grew 2.2% yoy, below expectation of 3.4% yoy. Fixed asset investment rose 5.3% ytd yoy, below expectation of Read more…

Japan export rose 20.0% yoy to JPY 8838B in November, a record high, led by cars autos and mining machinery shipment to the US. Imports rose 30.3% yoy to JPY 10865B, also a record high, Read more…

Australia employment grew 64.0k in November, much better than expectation of 19.4k. Unemployment rate was unchanged at 3.4%, matched expectations. Participation rate rose 0.2% to 66.8%. Monthly hours worked dropped -0.4% mom. Bjorn Jarvis, head Read more…

Total employment: 64k from 43.1k (revised from 32.2k); unemployment rate: 3.4% from 3.4% (unrevised 3.4%); participation rate: 66.8% from 66.6% (revised 66.5%). A strong update not just because of the larger than expected gain in Read more…

USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. To add confluence to this, the price is crossing under the Ichimoku cloud which indicates a bearish market. If the bearish momentum Read more…

Key Highlights USD/CHF declined below the 0.9400 and 0.9350 support levels. A major bearish trend line is forming with resistance near 0.9320 on the 4-hours chart. The Fed increased interest rate by 0.50 percentage point. Read more…