Daily Pivots: (S1) 0.8753; (P) 0.8797; (R1) 0.8823; More… USD/CHF’s decline from 0.9223 resumed by breaking 0.8776 and intraday bias is back on the downside. Deeper fall should be seen to 61.8% retracement of 0.8332 Read more…
Daily Pivots: (S1) 0.6496; (P) 0.6526; (R1) 0.6572; More… Intraday bias in AUD/USD is turned neutral first with current recovery, and some more consolidations would be seen above 0.6479. Further decline is expected as long Read more…
Late July and early August are packed with significant macroeconomic events. This week has already seen rate decisions from the Bank of Japan and the Federal Reserve, with the Bank of England meeting today and Read more…
Markets The Fed kept the policy rate unchanged yesterday at 5.25-5.5%. The new statement featured some important changes compared to the June one, which are seen as paving the way towards a first, September rate Read more…
Daily Pivots: (S1) 1.3777; (P) 1.3818; (R1) 1.3849; More… Intraday bias in USD/CAD remains neutral for the moment. Further rally is expected as long as 1.3796 support holds. Rise from 1.3176 should be resuming and Read more…
Dollar remained relatively steady following the balanced post-FOMC press conference, with notable exceptions against the stronger yen and Swiss franc. Fed Chair Jerome Powell explicitly mentioned the possibility of a rate cut in September but Read more…
Today’s focus is squarely on BoE’s rate decision, with significant uncertainty surrounding whether the first rate cut will be initiated to kick-start the policy easing cycle. Communications from various MPC members have shown no clear Read more…
China’s Caixin PMI Manufacturing dropped from 51.8 to 49.8 in July, falling below the expected 51.6. S&P Global noted that output expanded at the slowest pace in nine months, average selling prices declined, and input Read more…
Japan’s PMI Manufacturing was finalized at 49.1 in July, down from June’s 50.0, indicating that the sector is back in contraction streak since early 2023. Usamah Bhatti of S&P Global Market Intelligence described the sector’s Read more…
Japan confirmed its intervention in the currency market last month following Yen’s drop to a 38-year low against Dollar. This intervention marked the turning point for Yen’s massive month-long rally, which continues this week following Read more…