Key takeaways Intervention-driven downside resumes: USD/JPY plunged 2.4% to a two-month low after Japan’s ~$34.5B intervention on Thursday, 30 April, with a sharp intraday drop on today, 6 May, hinting at a possible second round Read more…
Markets A violent sell-off hit UK Gilts as local markets reopened following Monday’s Spring Bank Holiday. In a catch-up move to weakness in core bonds on Monday, UK yields jumped 9 to 10 bps across Read more…
The Project Freedom was paused, meaning that the US abandons the idea to escort ships out of the Strait of Hormuz – as the initiative didn’t fare well with Iran. And the lack of further Read more…
In focus today In Sweden, flash CPI figures are set for release, with a decline expected due to the VAT reduction on food from 12% to 6%. CPIF excluding energy is forecast to fall to Read more…
Daily Pivots: (S1) 212.85; (P) 213.46; (R1) 214.39; More… GBP/JPY fell sharply after rejection by 55 4H EMA but stays above 210.43. Intraday bias remains neutral first. Further decline is expected as long as 214.21 Read more…
Daily Pivots: (S1) 183.92; (P) 184.35; (R1) 185.04; More… EUR/JPY’s breach of 182.28 suggests that consolidation from there has completed at 185.02, and fall from 187.93 is resuming. Intraday bias is back on the downside Read more…
Daily Pivots: (S1) 0.8625; (P) 0.8635; (R1) 0.8648; More… Intraday bias in EUR/GBP remains neutral for the moment, and further fall is expected with 0.8652 support turned resistance intact. . On the downside, decisive break Read more…
Daily Pivots: (S1) 1.6240; (P) 1.6307; (R1) 1.6347; More… EUR/AUD’s fall from 1.6824 resumed after brief consolidations and intraday bias is back on the downside. Decisive break of 1.6125 low will confirm resumption of whole Read more…
Daily Pivots: (S1) 0.9148; (P) 0.9160; (R1) 0.9171; More…. Intraday bias in EUR/CHF remains neutral first. On the upside, above 0.9177 minor resistance will bring stronger rebound back to 0.9264 resistance. However, sustained break of Read more…
Daily Pivots: (S1) 0.7146; (P) 0.7172; (R1) 0.7210; More… AUD/USD’s rally resumed after brief consolidations and intraday bias is back on the upside. Next target is 61.8% projection of 0.6420 to 0.7187 from 0.6832 at Read more…