USDJPY remains below 157.70 Uptrend line acts as strong support Momentum oscillators show contradicting signs USDJPY is still developing below the 157.70 resistance level and well above the medium-term ascending trend line, failing to have Read more…
The second consecutive decline in the US core consumer price index caused a sharp drop in the American currency across the board. For instance, the GBP/USD pair rose by 120 points within a couple of Read more…
Daily Pivots: (S1) 1.0745; (P) 1.0799; (R1) 1.0862; More…. Intraday bias in EUR/USD is turned neutral again first with current retreat. On the upside, firm break of 1.0915 will resume whole rise from 1.0601. On Read more…
Daily Pivots: (S1) 1.2733; (P) 1.2796; (R1) 1.2862; More… Near term outlook in GBP/USD will stay bullish as long as 1.2687 support holds. Rise from 1.2298 should target 1.2892 resistance. Decisive break there will strengthen Read more…
Daily Pivots: (S1) 0.8897; (P) 0.8940; (R1) 0.8988; More…. Intraday bias in USD/CHF remains neutral as range trading continues between 0.8880/8987On the downside, sustained break of 0.8883 fibonacci level will carry larger bearish implications and Read more…
Markets The Fed kept the policy rate unchanged at 5.25-5.5% yesterday. The expected decision was accompanied by a statement that mentioned “modest” further progress towards the 2% inflation objective instead of the “lack” of it Read more…
Daily Pivots: (S1) 1.3682; (P) 1.3722; (R1) 1.3764; More… Despite steep retreat, USD/CAD recovered strongly ahead of 1.2662 support. Intraday bias stays neutral first. On the upside, above 1.3790 will resume the rebound from 1.3589 Read more…
While Dollar had a sharp decline following US consumer inflation data overnight, the selloff was short-lived. The greenback stabilized and recovered after FOMC projections indicated that only one rate cut is likely this year. Stock Read more…
The Federal Reserve’s (Fed) dot plot plotted one rate cut for 2024, down from three in March and the Fed revised its inflation forecasts higher. But the Fed’s announcement didn’t get more hawkish than this Read more…
In focus today Today Norges Bank (NB) will publish the regional survey for Q2, where we expect that the respondents (corporates) will be somewhat more optimistic than in February. The aggregated production index for both Read more…