Daily Pivots: (S1) 1.3636; (P) 1.3657; (R1) 1.3683; More… Intraday bias in USD/CAD is turned neutral with current recovery. On the downside, below 1.3631 will resume the fall from 1.3845 short term top to 55 Read more…
In focus today Today, focus is on euro area inflation for April. Inflation has declined significantly in recent months but the underlying momentum in service inflation has picked up. We expect inflation will remain unchanged Read more…
Tesla stole the light with a 15% jump on Monday after Elon Musk’s surprise visit to China resulted in a partnership with Baidu’s maps and navigation futures that cleared the way for Tesla’s full-self driving Read more…
China’s NBS PMI Manufacturing fell from 50.8 to 50.4 in April, matched expectations. NBS PMI Non-Manufacturing fell from 53.0 to 51.2, below expectation of 52.2. PMI Composite fell from 52.7 to 51.7. The breakdown of Read more…
Key Highlights Crude oil bulls are aiming for a fresh increase above the $85.00 level. The price broke a key bearish trend line with resistance at $83.50 on the 4-hour chart. Gold prices are consolidating Read more…
Australia’s retail sales fell -0.4% mom in March, well below expectation of 0.2% mom. Ben Dorber, ABS head of retail statistics, highlighted the impact of cost of living pressures on consumer behavior. He further noted Read more…
ANZ Business Confidence dropped notably from 22.9 to 14.9 in April. Own Activity Outlook similarly decreased from 22.5 to 14.3. The survey highlighted escalating cost pressures as a primary concern for businesses. Cost expectations rose Read more…
Japan’s industrial sector showed a robust rebound in March, with production rising by 3.8% mom, surpassing expectations of a 3.4% increase. This significant uptick represents a strong recovery from the previous month’s -0.6% yoy decline. Read more…
GBPUSD rising inside minor correction 2 Likely to rise to resistance level 1.2700 GBPUSD currency pair continues to rise inside the minor correction 2, which started earlier, when the pair reverse dup with the daily Read more…
Major retail chains with pharmacy operations have closed some of their locations over the past four years since the Covid-19 pandemic began, mostly for reasons other than financial distress or bankruptcy. Retailers, such as Walmart, Read more…