Daily Pivots: (S1) 0.6460; (P) 0.6483; (R1) 0.6514; More… Range trading continues in AUD/USD and intraday bias remains neutral. With 0.6406 support intact, further rally is expected. On the upside, firm break of 0.6536 will Read more…
Markets Markets and Fed governors are still in the process of navigating the implications of the ‘stagflationary dichotomy’ for policy going forward. Fed’s Kashkari in an interview held the line that, at least for now, Read more…
Here’s a fun fact: the iShares MSCI All World Index just hit a fresh all-time high yesterday, only a few hours after the OECD cut the global growth forecast, citing global trade uncertainties, tighter monetary Read more…
Daily Pivots: (S1) 1.3645; (P) 1.3688; (R1) 1.3724; More… USD/CAD’s decline from 1.4791 is still in progress and intraday bias stays on the downside. Next target is 61.8% projection of 1.4414 to 1.3749 from 1.4014 Read more…
The US markets remain remarkably steady overnight despite a string of soft US economic releases overnight. Disappointing job and services data failed to trigger any meaningful selloff in equities, while Dollar edged slightly lower. Market Read more…
ECB is set to lower its deposit rate by 25 bps to 2.00% today, marking the eighth cut of this easing cycle and bringing policy deep into neutral territory. With inflation falling back below the Read more…
China’s Caixin PMI Services rose modestly from 50.7 to 51.1 in May, aligning with expectations. However, the gain in services was not enough to offset the drag from manufacturing, as PMI Composite slipped into contraction Read more…
Real wages in Japan fell by -1.8% yoy in April, marking the fourth consecutive month of decline as persistent inflation continued to erode household purchasing power. While nominal wages rose 2.3% yoy, slightly below the Read more…
Fed’s Beige Book report paints a picture of slowing US economy marked by pervasive caution and subdued sentiment. Economic activity was reported to have “declined slightly” overall, with half of the twelve Districts seeing slight Read more…
Key Highlights GBP/USD started a fresh increase above the 1.3500 resistance zone. A connecting bullish trend line is forming with support at 1.3530 on the 4-hour chart. EUR/USD is now gaining pace and might clear Read more…