At a conference today, Joachim Nagel, Bundesbank President and ECB Governing Council member, said that if data in the next six weeks bolster confidence in achieving ECB’s 2% inflation target, he would support a reduction Read more…
Daily Pivots: (S1) 191.45; (P) 192.15; (R1) 193.47; More.. GBP/JPY is still bounded in range below 193.51 and intraday bias remains neutral. Further rally is expected with 189.97 support intact. On the upside, firm break Read more…
Daily Pivots: (S1) 164.98; (P) 165.36; (R1) 166.09; More… Intraday bias in EUR/JPY remains on the upside for the moment. Current up trend should target 169.96 key resistance next. On the downside, break of 164.39 Read more…
Daily Pivots: (S1) 0.8578; (P) 0.8611; (R1) 0.8630; More… Intraday bias in EUR/GBP is turned neutral first with current retreat. On the upside, decisive break of medium term trend line resistance (now at 0.8649) will Read more…
Daily Pivots: (S1) 1.6468; (P) 1.6516; (R1) 1.6545; More… Outlook is mixed up by deeper than expected fall from 1.6679. On the downside, firm break of 1.6368 support will revive that case that rebound from Read more…
Daily Pivots: (S1) 0.9722; (P) 0.9741; (R1) 0.9780; More… The strong break of 55 4H EMA suggest that EUR/CHF’s pull back from 0.9847 has completed at 0.9563 already. Intraday bias is back on the upside Read more…
Markets Disappointing April US PMI’s triggered some short covering in US Treasuries. The composite PMI declined from 52.1 to 50.9 (vs 52 consensus) with both manufacturing (49.9 from 51.9) and services (50.9 from 51.7) contributing. Read more…
Short Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended Read more…
Tesla’s Q1 results didn’t look good at all. The revenue dropped 9% – the first revenue drop in four years – and net income plunged by 55% compared to the same time last year. And Read more…
In focus today In Germany we await Ifo data for April. The current assessment of the economy remains weak, but expectations have risen lately so it will be important to follow if we finally see Read more…