Daily Pivots: (S1) 149.24; (P) 149.97; (R1) 150.74; More… USD/JPY rebounded strongly after brief dip to 149.20 and intraday remains neutral for now. On the upside, decisive break of 150.87 will resume whole rally from Read more…
DXY: The DXY chart maintains a bearish momentum, suggesting a potential continuation of the downtrend towards the 1st support level. The 1st support at 103.71 is significant as an overlap support, indicating its historical relevance Read more…
Key insights from the week that was. In Australia, the Monthly CPI Indicator fell 0.3% in January, leaving the annual rate unchanged at 3.4%yr. Goods prices – which constitute the bulk of the new information Read more…
China’s manufacturing sector continued its contraction for the fifth consecutive month in February, with official NBS PMI decreasing slightly from 49.2 to 49.1, matched expectations. New orders subindex remained steady at 49, indicating stagnant demand. Read more…
RBNZ Governor Adrian Orr affirmed today that the economy is “evolving as anticipated”, with inflation expectations declined. However, he reiterated inflation “is still too high”. The governor emphasized the necessity of maintaining a restrictive monetary Read more…
Japan’s PMI Manufacturing was finalized at 47.2 in February, down from January’s 48.0. This marks the ninth consecutive month of contraction, presenting the most significant downturn since August 2020. According to S&P Global, the decline Read more…
Key Highlights USD/JPY failed to clear the 150.85 resistance zone. It traded below a connecting bullish trend line with support at 150.30 on the 4-hour chart. Gold prices are moving higher above the $2,035 resistance. Read more…
BoJ Governor Kazuo Ueda reiterated that Japan has not yet achieved sustainable 2% inflation. “I don’t think we are there yet,” he said after G20 finance ministers’ meeting. A significant focus for BoJ in the Read more…
New York Fed President John William reiterated that he expected rate cuts to start this year, but emphasized there is “no sense of urgency to do that”. “I think that makes sense with inflation coming Read more…
Cleveland Fed President Loretta Mester remains steadfast in her view that inflation is on track to Fed’s target, despite a month-over-month jump in the preferred inflation gauge. Nevertheless, “it does show you there is a Read more…