Daily Pivots: (S1) 1.4118; (P) 1.4147; (R1) 1.4200; More… USD/CAD’s breach of 1.4177 resistance suggests that larger up trend is resuming. Intraday bias is back on the upside for further rally to 1.4391 projection level. Read more…
Markets The Chinese Politburo’s directive changed risk sentiment at the start of European trading from slightly risk-off because of developments in Syria to mildly risk-on given the firm commitment to support the ailing economy. Extraordinary Read more…
Sentiment in Chinese equities reversed suddenly to a significantly more bullish state after the Politburo – which is the highest-decision making bodies within the Communist Party – pledged to embrace a ‘moderately loose’ monetary policy Read more…
In focus today In Norway, we expect core inflation to remain unchanged at 2.7% y/y in November, a tad lower than consensus at 2.8%. If we are proven right, this will once again be below Read more…
Daily Pivots: (S1) 0.6390; (P) 0.6430; (R1) 0.6481; More… Volatility continues in AUD/USD but it’s still staying in range above 0.6371 temporary low. Intraday bias remains neutral and further decline is expected with 0.6511 resistance Read more…
Australian Dollar dropped sharply in Asian session following a significant dovish turn in RBA’s communication. After holding rates steady at 4.35%, the central bank signaled growing confidence that inflationary pressures are easing, marking a departure Read more…
The RBA remains on hold with the cash rate kept at 4.35%. But the Board is gaining confidence in its own forecasts that inflation is coming down. As expected, the RBA Board held the cash Read more…
China’s trade data for November showed weak signals as exports grew 6.7% yoy to USD 312.3B, down sharply from October’s 12.7% yoy expansion and missing expectations of 8.5% growth. Export performance varied across key regions, Read more…
Australia’s NAB Business Confidence index slid sharply to -3 in November, down from 5 in October, returning to below average levels. Business conditions also weakened notably, dropping from 7 to 2, marking declines across trading, Read more…
RBA held its cash rate steady at 4.35% as widely expected, but the accompanying statement marked a clear pivot towards a more dovish stance. While May remains the more likely timing for the first rate Read more…