Early year worries that the AI rally would fizzle out were rapidly wiped out at the start of this week by Microsoft’s announcement to be willing to spend $80bn on data centers – which pushed the stock up to 1.4% yesterday, by Foxconn’s announcement of a 42% surge in its December sales thanks to AI-driven […]
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Daily Pivots: (S1) 0.6210; (P) 0.6249; (R1) 0.6270; More… Intraday bias in AUD/USD is turned neutral with current retreat. Consolidation from 0.6178 could still extend with another rise to 55 D EMA (now at 0.6416). Read more…
Dollar regained some traction overnight, supported by strong services sector data that bolstered expectations for Fed to hold interest rates steady this month. Fed fund futures now imply a 95% probability of no rate cut Read more…
Australia’s monthly CPI rose from 2.1% yoy to 2.3% yoy in November, slightly above market expectations of 2.2%. Inflation excluding volatile items and holiday travel jumped from 2.4% yoy to 2.8% yoy. However, trimmed mean Read more…