Daily Pivots: (S1) 0.9960; (P) 1.0013; (R1) 1.0074; More… EUR/USD continues to lose downside momentum as seen in 4 hour MACD. But further decline is still expected with 1.0121 minor resistance intact. Sustained break of Read more…
Dollar is staying is the strongest one for the week, as talks of a 100bps hike at the July FOMC meeting heat up. But upside momentum in the greenback hasn’t been really too convincing, except Read more…
Gold’s down trend continued this week and breached 1700 handle overnight. Further fall is still in favor but Gold is now close to a critical support zone. Whole pattern from 2074.84 (2020 high) is seen Read more…
China GDP grew only 0.4% yoy in Q2, missing even the expectation of 1.0% yoy. For June, industrial production rose 3.9% yoy, below expectation of 4.3% yoy. Nevertheless, retail sales rose 3.1% yoy, above expectation Read more…
New Zealand BusinessNZ Performance of Manufacturing Index dropped from 52.9 to 49.7 in June. Production dropped from 52.6 to 47.8. Employment dropped from 52.8 to 51.2. New orders dropped fro 52.3 to 47.8. Finished stocks Read more…
In an interview by Nikkei after US CPI release, St. Louis Fed President James Bullard said rate-setters have “framed” the July FOMC meeting as “50 versus 75”. “I think 75 has a lot of virtue Read more…
DXY: On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that prices will drop and rise from 1st support at 105.794 where the pullback Read more…
Key insights from the week that was. This week’s Australian data highlighted the growing disparity between current activity and confidence. According to NAB’s latest business survey, while business conditions continue to show strength across the Read more…
The next directional move in EUR/USD may depend on the outcome of the central bank meetings later in July. The seemingly never-ending question of “Will EUR/USD break parity?” has finally been answered. Although EUR/USD fell Read more…
If traders don’t have this scenario in their minds, they’re ignoring one of the biggest risk in markets right now… Yesterday’s US CPI report tossed a Molotov cocktail into an already explosive market for treasury Read more…