Daily Pivots: (S1) 1.2360; (P) 1.2396; (R1) 1.2446; More… Intraday bias in GBP/USD remains neutral and outlook is unchanged. On the downside, firm break of 1.2252 minor support will turn bias to the downside, and Read more…
Cycle from 11.23.2022 is unfolding as a 5 waves nesting Elliott Wave impulse. Up from 11.23.2022 low, wave ((i)) ended at 1810.04 and pullback in wave ((ii)) ended at 1773.92. The metal then is nesting Read more…
Daily Pivots: (S1) 1.0852; (P) 1.0891; (R1) 1.0931; More… EUR/USD is losing upside momentum as seen in bearish divergence condition in 4 hour MACD. But further rise could still be seen as long as 1.0765 Read more…
Risk-on rallies appear to be taking a breather ahead of the weekend. While US stocks jumped overnight, Asian markets are just mixed. Focuses will turn to US PCE inflation data today. Dollar might try to Read more…
In Japan, Tokyo CPI core (all items ex-fresh food), accelerated from 4.0% yoy to 4.3% yoy in January, above expectation of 4.2% yoy. That’s also the fastest annual increase in nearly 42 years since May Read more…
New Zealand ANZ Business Confidence improved from -70.2 to -52.0 in January. Own activity outlook rose form -25.6 to -15.8. Looking at some details, exports intentions rose from -10.0 to -5.4. Investment investment intentions rose Read more…
Key Highlights USD/JPY started a recovery wave above the 129.50 resistance. A key bullish trend line is forming with support near 128.70 on the 4-hours chart. EUR/USD and GBP/USD traded in a range after the Read more…
Amidst the most important week yet in 2023, we get a plethora of Japanese data. With its next meeting scheduled in March, the BoJ can sit back and watch developments. In the meantime, the dollar/yen Read more…
Key insights from the week that was. With much of Asia taking time to celebrate lunar new year and the US/European data calendar light, inflation data for Australia and New Zealand received a lot of Read more…
Inflation in Tokyo rose 4.4% y/y in January, its highest level since 1981. And as Tokyo inflation has a tendency to lead nationwide inflation in Japan, it suggests another hot print for Japan’s CPI in Read more…