USD/CAD edged lower to 1.3588 last week but recovered after hitting 1.3589 support. Initial bias remains neutral this week first. On the downside, firm break of 1.3589 will extend the corrective pattern from 1.3845 and Read more…
GBP/JPY retreated sharply after edging higher to 208.09 last week. Considering bearish divergence condition in 4H MACD, a short term top should be in place. Deeper pullback could be seen through 203.82 temporary low. But Read more…
EUR/JPY fell sharply after edging higher to 175.41 last week. Considering bearish divergence condition in 4H MACD, a short term top should be in place. Deeper correction cannot be ruled out. But for now, downside Read more…
EUR/GBP’s late break of 0.8396 support suggests that larger down trend is resuming. Initial bias remains on the downside this week. Next near term target is 61.8% projection of 0.8619 to 0.8396 from 0.8498 at Read more…
EUR/AUD’s consolidation from 1.5996 continued last week and outlook is unchanged. Initial bias stays neutral this week first. While another recovery cannot be ruled out, further decline is expected as long as 1.6211 resistance holds. Read more…
EUR/CHF’s late breach of 0.9754 resistance last week suggests that rise from 0.9476 is resuming. Initial bias is back on the upside this week. Further rally would be seen to retest 0.9928 high. On the Read more…
US inflation data caused a significant selloff in US mega-cap tech stocks and a shift towards riskier areas of the market. The ECB interest rate decision is expected to bring no change, but the bank Read more…
U.S. Highlights U.S. inflation eased by more than expected in the month of June, raising the likelihood of a September rate cut. Small business confidence continued to edge higher in June, though several forward-looking indicators Read more…
Summary United States: Fed’s Challenge: Making Sure Fire Is Out vs. Water Damage We learned this week that CPI declined in June and core prices rose at the slowest clip since early 2021. With the Read more…
The Bank of Canada’s quarterly Business Outlook Survey (BOS) and June’s inflation data will be the last major data releases before the BoC’s next interest rate announcement on July 24. We expect a slowdown in Read more…