Daily Pivots: (S1) 1.3653; (P) 1.3682; (R1) 1.3699; More…. Intraday bias in USD/CAD remains neutral as it’s still bounded in sideway trading. On the upside, break of 1.3742 resistance will revive the case that correction Read more…
Markets German bunds underperformed US Treasuries in the wake of yesterday’s ECB policy meeting. Rates rose between 2.2 and 4.4 bps. The central bank cut rates by 25 bps for the first time in five Read more…
As widely expected, the European Central Bank (ECB) announced a 25bp rate cut when it met yesterday, but raised its inflation target for this and the next year, warned that the road for easing inflation Read more…
In focus today Today’s main data event will be the US May Jobs Report. We expect nonfarm payrolls to have grown by 190k, a modest uptick from April when weak public sector jobs growth weighed Read more…
Daily Pivots: (S1) 0.6639; (P) 0.6661; (R1) 0.6689; More…. AUD/USD is still extending sideway trading below 0.6713 and intraday bias stays neutral. As long as 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at Read more…
Forex markets remain directionless as the week’s highly anticipated central bank activities. The rate cuts by both BoC and ECB failed to provide the expected catalysts for significant currency movements. Neither Canadian Dollar nor Euro Read more…
In May, China’s exports rose by 7.6% yoy, surpassing the expectation of 6.0% yoy growth. Notably, exports to US increased by 4.8% yoy, marking the highest growth in three months. Exports to ASEAN countries saw Read more…
The national accounts confirmed that demand growth remained soft. Revisions to past tourism spending have no implications for future inflation but underline that weak supply is still an issue. This week’s national accounts confirm that Read more…
Key insights from the week that was. Australian Q1 GDP printed broadly as expected, rising 0.1% (1.1%yr). There were some surprises for consumption however, a firmer-than-anticipated gain of 0.4% in Q1 – thanks in part Read more…
Key Highlights USD/JPY is eyeing an upside break above the 156.40 resistance. A major bearish trend line is forming with resistance at 156.60 on the 4-hour chart. EUR/USD is gaining pace above the 1.0880 resistance. Read more…