Month: February 2023

Markets January inflation figures from European sovereigns published earlier this week culminated in the European-wide reading today. Bear in mind that Germany’s official CPI print for technical reasons isn’t due until next week. Eurostat instead Read more…

US ISM Manufacturing PMI dropped further from 48.4 to 47.4 in January, below expectation of 48.7. Looking at some details, new orders dropped from 45.1 to 42.5. Production dropped from 48.6 to 48.0. Employment dropped Read more…

Daily Pivots: (S1) 0.9112; (P) 0.9200; (R1) 0.9249; More… Intraday bias in USD/CHF remains neutral at this point. Outlook stays mildly bearish despite loss of downside momentum. On the downside, sustained break of 61.8% projection Read more…

Daily Pivots: (S1) 129.73; (P) 130.13; (R1) 130.51; More… USD/JPY continues to trade sideway and intraday bias remains neutral. On the downside, break of 127.20 will resume the whole decline from 151.93 and target 121.43 Read more…

Daily Pivots: (S1) 1.2278; (P) 1.2325; (R1) 1.2365; More… No change in GBP/USD’s outlook as range trading continues. Intraday bias stays neutral. On the downside, firm break of 1.2252 minor support will turn bias to Read more…

Daily Pivots: (S1) 1.0818; (P) 1.0846; (R1) 1.0891; More… Immediate focus is back on 1.0928 resistance in EUR/USD with today’s recovery. Decisive break there will resume larger rise to 61.8% projection of 0.9630 to 1.0733 Read more…

Dollar falls broadly after ADP job data missed expectations, while traders await FOMC rate decision. There is no doubt that Fed will hike interest rate by 25bps today and signals that tightening is not finished. Read more…

US futures Dow futures -0.44% at 33393 S&P futures -0.38% at 4064 Nasdaq futures -0.15% at 12085 In Europe FTSE +0.21% at 7789 Dax +0.43% at 15192 A hawkish Fed? ADP payrolls drop sharply US Read more…