Daily Pivots: (S1) 1.2678; (P) 1.2700; (R1) 1.2730; More… GBP/USD is staying in consolidations in tight range and intraday bias remains neutral. Risk will stay on the downside as long as 1.2859 resistance holds. Firm Read more…
British Pound held steady following release of UK data showing decrease in both headline and core consumer inflation for May. This development is unlikely to influence BoE decision tomorrow, where a rate hold is widely Read more…
UK CPI slowed from 2.3% yoy to 2.0% yoy in May, lowest since July 2021. Core CPI (excluding energy, food, alcohol and tobacco) slowed from 3.9% yoy to 3.5% yoy. Both matched expectations. CPI goods Read more…
Short Term Elliott Wave in Copper (HG) suggests the metal has ended wave (4) correction at 4.375. Wave (3) rally ended at 5.2 on 5.20.2024 which is all-time high price for Copper. Wave (4) pullback Read more…
Minutes from BoJ’s April 25-26 meeting revealed that board members are closely monitoring the ongoing risks posed by the weak Yen and its effect on inflation, which could force a monetary policy response. “Some members” Read more…
In a speech today, RBNZ Chief Economist Paul Conway discussed the complexities of bringing inflation sustainably back to target, noting “remaining challenges” and various risks and uncertainties. Conway pointed out that in the “near term”, Read more…
Key Highlights Gold seems to be forming a base above the $2,285 level. A key contracting triangle is forming with resistance at $2,332 on the 4-hour chart. EUR/USD is recovering higher toward the 1.0780 resistance. Read more…
In a speech, Boston Fed President Susan Collins cautioned against overreacting to “a month or two” of improvements in inflation data. She emphasized, “It is too soon to determine whether inflation is durably on a Read more…
In a speech, Fed Governor Adriana Kugler acknowledged that while inflation remains too high, she is “encouraged” by the overall progress and outlook. Kugler expressed “cautious optimism” based on recent economic and inflation data, suggesting Read more…
In a moderated Q&A session overnight, Dallas Fed President Lorie Logan stated, “From a monetary policy perspective, we’re in a good position, we’re in a flexible position to watch the data and be patient.” She Read more…