Daily Pivots: (S1) 1.3445; (P) 1.3474; (R1) 1.3523; More… Intraday bias in USD/CAD remains on the upside at this point. Rise from 1.3176 is in progress for 1.3617 cluster resistance (61.8% retracement of 1.3897 to Read more…
In focus today This morning at 8:00 CET we get inflation data for December from the UK, where consensus expects both headline and core inflation to ease further on a yearly basis. Key will be Read more…
UK CPI rose 0.4% mom in December, well above expectation of 0.2% mom. For the 12- month period, CPI accelerated from 3.9% yoy to 4.0% yoy, above expectation of 3.8% yoy. That’s the first time Read more…
Current bout of risk-off behaviour has triggered an underperformance of higher beta risk-sensitive currencies such as the AUD. China Premier Li Qiang’s speech in Davos has signalled “a lesser need” for China to enact massive Read more…
DXY: The DXY (US Dollar Index) chart currently exhibits an overall bullish momentum. In this context, there is a potential scenario for price to make a bullish continuation towards the 1st resistance. The 1st resistance Read more…
Daily Pivots: (S1) 0.6552; (P) 0.6608; (R1) 0.6641; More… AUD/USD’s fall from 0.6870 continues today and intraday bias stays on the downside. Deeper fall would be seen to 61.8% retracement of 0.6269 to 0.6870 at Read more…
Prevailing mood of risk aversion was evident in Asian session today. Hong Kong stocks led the region lower, reflecting investors’ dissatisfaction with the latest batch of Chinese economic data. While China’s Q4 GDP growth wasn’t Read more…
China’s GDP grew 5.2% yoy in Q4, an uptick from Q3’s 4.9% yoy. For the full year of 2023, the economy also recorded a growth rate of 5.2%. On a quarter-by-quarter basis, GDP growth rate Read more…
ECB Governing Council Gediminas Simkus expressed a conditional optimism about rate reductions within the year, stating, “If we don’t see any surprises that would change the data and the thinking, I’m positive about rate cuts Read more…
Fed Governor Christopher Waller expressed growing confidence bring inflation down to target. He noted in a speech overnight that Fed is “within striking distance of achieving a sustainable level of 2 percent PCE inflation”. However, Read more…