Daily Pivots: (S1) 1.4351; (P) 1.4401; (R1) 1.4497; More… USD/CAD’s rally accelerates further higher and breaks through 1.4391 medium term projection level. There is no sign of topping yet and intraday bias stays on the Read more…
Markets The Fed lowered policy rates yesterday from 4.5%-4.75% to 4.25-4.5%, a level chair Powell said is still “meaningfully restrictive”. The decision was expected but not unanimous. Cleveland Fed Hammack voted to keep rates steady Read more…
Daily Pivots: (S1) 0.6174; (P) 0.6258; (R1) 0.6302; More… AUD/USD’s decline accelerates lower and intraday bias says on the downside for 0.6169 key support. Decisive break there will confirm larger down trend resumption. Next near Read more…
Fed’s hawkish rate cut overnight sparked an outsized market reaction, with DOW plunging over -1100 points and NASDAQ losing -3.5%. Fed’s messages didn’t deviate from expectations leading to the meeting, indicating a slower easing path Read more…
Germany’s GfK Consumer Sentiment Index for January rose to -21.3, improving from December’s -23.1. December’s subindices reflected mixed dynamics: economic expectations moved into positive territory at 0.3, up from -3.6, and income expectations increased to Read more…
BoJ kept its uncollateralized overnight call rate unchanged at 0.25%, as widely anticipated, with an 8-1 vote in favor. Naoki Tamura dissented, advocating for a rate increase to 0.50%. Governor Kazuo Ueda, speaking at the Read more…
In focus today A packed European central bank day kicks off with the Riksbank decision at 9:30 CET. We expect a 25bp cut to 2.50% and that the central bank will maintain a message of Read more…
New Zealand’s ANZ Business Confidence Index fell to 62.3 in December, down from 64.9. However, some subindices showed encouraging signs of recovery. The own activity outlook improved to 50.3 from 48.0, while profit expectations rose Read more…
New Zealand’s economy contracted by -1.0% qoq in Q3, significantly worse than market expectations of -0.2%. The previous quarter’s GDP figure was also revised down sharply, from -0.2% to -1.1%, painting a grimmer picture of Read more…
Sometimes, the truth is hard to say—and even harder to hear. The Federal Reserve (Fed) announced another 25bp cut as widely expected and priced in, but hinted that there will be just about two rate Read more…