Markets Core bonds fell yesterday with German Bunds marginally underperforming US Treasuries. A solid European May services PMI (unchanged at 53.3) and an improving manufacturing one (47.4 from 45.7) coupled with record-matching Q1 wage negotiations Read more…
In focus today From the US, April durable goods orders and revised May Michigan consumer sentiment survey are due for release. The flash release showed consumers’ inflation expectations ticking notably higher, but the recent decline Read more…
Daily Pivots: (S1) 1.0794; (P) 1.0827; (R1) 1.0850; More… Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.0894 will resume the rise from 1.0601 to 1.0980 resistance. Decisive break Read more…
Daily Pivots: (S1) 1.2674; (P) 1.2710; (R1) 1.2736; More… Breach of 1.2685 minor support suggests short term topping at 1.2760 already. Intraday bias is mildly on the downside. Firm break of 55 4H EMA (now Read more…
Daily Pivots: (S1) 0.9128; (P) 0.9143; (R1) 0.9160; More…. Intraday bias in USD/CHF remains neutral first and further rise is in favor with 0.9077 minor support intact. On the upside, above 0.9157 will resume the Read more…
Daily Pivots: (S1) 156.55; (P) 156.92; (R1) 157.30; More… Intraday bias in USD/JPY is back on the upside with break of 156.78 resistance. Rise from 161.86, as the second leg of the corrective pattern from Read more…
Daily Pivots: (S1) 0.6586; (P) 0.6619; (R1) 0.6641; More… While AUD/USD’s retreat from 0.6713 extends lower, it’s staying above 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579. Intraday bias remains neutral for Read more…
The week hasn’t been pleasant for the market bulls. On Wednesday, the FOMC minutes showed the disturbing truth that ‘many’ Fed members wondered whether keeping the rates ‘high for longer’ was sufficiently restrictive to tame Read more…
UK retail sales volume fell sharply by -2.3% mom in April, much worse than expectation of -0.6% mom. Sales volumes fell across most sectors, with clothing retailers, sports equipment, games and toys stores, and furniture Read more…
Daily Pivots: (S1) 1.3676; (P) 1.3710; (R1) 1.3763; More… USD/CAD’s rebound from 1.3589 extended higher today. The development indicates that correction from 1.3845 has completed with three waves down to 1.3589. Intraday bias is back Read more…