Daily Pivots: (S1) 1.3596; (P) 1.3703; (R1) 1.3845; More… USD/CAD’s rally continued and hit as high as 1.3807 so far. Intraday bias stays on the upside for 161.8% projection of 1.2005 to 1.2947 from 1.2401 Read more…
The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government’s growth plan will be done at next “scheduled” meeting, ruling out Read more…
USD/JPY: On the H4 chart, price has pushed through very strongly through the 1st support at 142.574 where the 78.6% Fibonacci line lies. If this strong bullish momentum continues, price could potential break above the Read more…
For 2022, the World Bank downgraded China’s growth forecasts sharply from 5.0% (April’s) to just 2.8%. On the other hand, ASEAN-5 growth forecasts was upgraded from 4.9% to 5.4%. East Asia & Pacific (excluding China) Read more…
RBNZ Governor Adrian Orr today, “We believe we still have some work to do, but the good news is because we’ve done so much already, the tightening cycle is very mature, it’s well advanced.” There’s Read more…
SNB board member Andrea Maechler said yesterday, “We have tightened monetary policy and raised interest rates to send a clear signal that we will do everything to bring down inflation over time.” “There are ever Read more…
Cleveland Fed President Loretta Mester said yesterday, “when there is uncertainty, it can be better for policymakers to act more aggressively because aggressive and pre-emptive action can prevent the worst-case outcomes from actually coming about.” Read more…
Atlanta Fed President Raphael Bostic said market reaction to UK government’s new growth plan, with sharp volatility in Sterling, was a “real concern”. There’s “a fear that the new actions will add uncertainty to the Read more…
Key Highlights GBP/USD traded to a new low at 1.0340 before it corrected higher. A major bearish trend line is forming with resistance near 1.1050 on the 4-hours chart. EUR/USD corrected higher, but it is Read more…
Christine Lagarde was on the wires today discussing the Euro and interest rates. She noted that the Euro depreciation has added to inflationary prices and that she expects interest rates to rise further over the Read more…