Markets UK May Inflation data and Fed Powell’s semi-annual Congressional testimony before the House Financial Services Committee were key today. Powell’s testimony still takes place after finishing this report, but the text of his statement Read more…
Daily Pivots: (S1) 1.2717; (P) 1.2762; (R1) 1.2810; More… GBP/USD is extending the retreat from 1.2847 but stays above 1.2628 support. Intraday bias remains neutral and further rally is expected. On the upside, firm break Read more…
Canada retail sales rose 1.1% mom to CAD 65.9B in April, well above expectation of 0.3% mom. Sales increased in eight of nine subsectors and were led by increases at general merchandise retailers (+3.3%) and food Read more…
Canada releases retail sales Fed Chair Powell testifies before a House Committee The Canadian dollar is drifting lower on Wednesday. USD/CAD is trading at 1.3222 in Europe, down 0.10%. The US dollar has endured a Read more…
German economy endured a “sharp setback” in the winter half-year, primarily due to soaring inflation and noticeably weakened demand, as per the latest report from Germany’s Ifo Institute. The country’s GDP is predicted to decline Read more…
German economy endured a “sharp setback” in the winter half-year, primarily due to soaring inflation and noticeably weakened demand, as per the latest report from Germany’s Ifo Institute. The country’s GDP is predicted to decline Read more…
Daily Pivots: (S1) 1.0892; (P) 1.0919; (R1) 1.0945; More… Intraday bias in EUR/USD remains neutral as consolidation from 1.0969 is extending. Further rally is expected as long as 1.0803 support holds. On the upside, above Read more…
AUD/USD pulls back The Australian dollar fell after dovish RBA meeting minutes showed a pause to rate hikes was considered. As the pair hit a four-month high at 0.6900, a bearish RSI divergence showed a Read more…
Risk takers are not out dancing on the Wall Street this week before the Federal Reserve (Fed) President Powell’s semiannual congressional testimony scheduled for today and tomorrow. Equities are down, oil is down, sovereign bonds Read more…
Australia Westpac Leading Index growth rate fell from -0.78% to -1.09% in May. This is the lowest read of the growth rate since the pandemic. The tenth consecutive negative print for the index. The negative Read more…