USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. Overnight, USDJPY experienced some bullish momentum with the price closing above the 1st support line at 147.410 where the 127.2% Fibonacci extension Read more…
Daily Pivots: (S1) 1.0044; (P) 1.0095; (R1) 1.0187; More… USD/CHF retreats mildly ahead of 1.0146 resistance, but intraday bias stays neutral first. On the upside, firm break of 1.0146 will resume larger up trend. Next Read more…
Asian markets are very mixed today, with Nikkei trading lower, following US stocks overnight. But strong rebound is seen in Hong Kong and China. As a result, Dollar is paring some of the post-FOMC gains Read more…
US non-farm payroll employment data is the major focus of the day. Markets are expecting the job market to grow 200k in October. Unemployment rate is expected to tick up from 3.5% to 3.6%. Looking Read more…
In the Statement on Monetary Policy, RBA noted that after a sequence of 50bps and 24bps rate hikes, “the Board recognised that interest rates had already been increased significantly in a short period of time”. Read more…
Key Highlights USD/JPY is facing resistance near 148.50 and 149.00. A major bearish trend line is forming with resistance near 148.40 on the 4-hours chart. EUR/USD and GBP/USD gained bearish momentum below 0.9850 and 1.1320 Read more…
Key insights from the week that was. The past week has seen a flurry of central bank communications as the RBA, FOMC and BoE all met to deliberate on policy. Evident In their decisions and Read more…
The Reserve Bank has released its November Statement on Monetary Policy (SoMP). The highlight of these Statements is the Bank’s revised forecasts for growth, unemployment and inflation. These forecasts are based on a path for Read more…
NFP insight Following Wednesday’s FOMC meeting, it’s clear that Jerome Powell and company are still far more concerned about the “price stability” half of their dual mandate than the “full employment” half. Nonetheless, the central Read more…
The FOMC statement was seen as dovish as a result of the wording that “in determining the pace of rate hikes, we will consider cumulative tightening, policy lags, and economic and financial developments”. However, the Read more…