Daily Pivots: (S1) 1.6359; (P) 1.6418; (R1) 1.6486; More… Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6512 minor resistance will argue that pull back from 1.6671 has completed, Read more…
Daily Pivots: (S1) 0.9319; (P) 0.9343; (R1) 0.9370; More… Intraday bias in EUR/CHF is turned neutral first with current recovery. While fall from 0.9471 could extend lower, strong support is still expected above 0.9252 low Read more…
China and Hong Kong benchmark stock indices have almost erased last week’s gains. NBS Non-Manufacturing PMI sub-components for January are indicating feeble service activities in China. A weaker US dollar via a dovish forward monetary Read more…
Short Term Elliott Wave view in USDCAD suggests that rally to 1.354 ended wave (B). Pair has since turned lower in wave (C). However, confirmation is needed to validate this view and pair still needs Read more…
Markets The EU economy avoided a recession in 2023H2 (0.0% q/q growth in Q4) thanks to southern Europe while inflation readings from Spain (and Belgium) showed price pressures reaccelerating. The latter pushed euro area yields Read more…
Daily Pivots: (S1) 147.16; (P) 147.54; (R1) 147.99; More… Intraday bias in USD/JPY stays neutral at this point as consolidation from 148.79 is still extending. With 145.97 resistance turned support intact, further rally is in Read more…
Daily Pivots: (S1) 1.3381; (P) 1.3413; (R1) 1.3431; More… Intraday bias in USD/CAD stays mildly on the downside and deeper fall could be seen to 1.3342 support. Firm break there will argue that rebound from Read more…
Daily Pivots: (S1) 0.6577; (P) 0.6601; (R1) 0.6626; More… AUD/USD dips notably today but still stays in range of 0.6524/6639. Intraday bias remains neutral and further fall is still expected. On the downside, firm break Read more…
Australian Dollar encountered significant headwinds in today’s Asian session, weighed down by the latest Australian Q4 CPI data. The lower than expected inflation confirmed that RBA would hold interest rate unchanged in the forthcoming meeting Read more…
The data flow since November has pointed in this direction, and today’s CPI release seals the deal: the RBA will keep the cash rate on hold next week, and it is unlikely to raise rates Read more…