There are two key fundamental aspects that are pushing the USDCAD in opposite directions. Which one is stronger and which will win out will depend on the evolution of both economic data and political events. Read more…
The Canadian dollar has edged lower ahead of the North American session. On the economic front, the US releases ADP Employment Change and the ISM Services PMI later today. There are no tier-1 releases out Read more…
The dollar fell to the lowest level since Aug 2021 against Swiss franc on Wednesday, in extension of sharp bearish acceleration in past two days, when the pair lost 1.1% of its value. Fresh weakness Read more…
The dollar index consolidating above new two-month low, posted after a sharp fall in past two days. The greenback was deflated by renewed risk appetite, while weak latest economic data from the US suggest that Read more…
Australian dollar remains in red for the second consecutive day, with bearish acceleration in early Wednesday, generating an initial signal of reversal, after recovery leg from 0.6563 Mar 10 low, stalled under 100DMA (0.6797). The Read more…
UK PMI Services was finalized at 52.9 in March, down from February’s 53.5. PMI Composite was finalized at 52.2, down from prior month’s 53.1. Tim Moore, Economics Director at S&P Global Market Intelligence, noted that Read more…
Daily Pivots: (S1) 1.6092; (P) 1.6183; (R1) 1.6319; More… EUR/AUD’s break of 1.6321 indicates that up trend from 1.4281 is resuming. Intraday bias is back on the upside. But focus remains on 0.6389/6434 cluster resistance Read more…
Daily Pivots: (S1) 1.0902; (P) 1.0937; (R1) 1.0992; More… Intraday bias in EUR/USD stays on the upside as rise form 1.0515 is in progress. Next target is retest on 1.1032 high. Decisive break there will Read more…
Daily Pivots: (S1) 0.9031; (P) 0.9087; (R1) 0.9118; More… USD/CHF’s break of 0.9058 support suggests that the down trend from 1.0146 is finally resuming. Intraday bias is now back on the downside. Sustained break of Read more…
In an unexpected move, RBNZ raised the Official Cash Rate by 50bps to 5.25%, doubling the anticipated 25bps hike. This bold step reflects the central bank’s concerns about persistently high inflation and employment levels. The Read more…