Daily Pivots: (S1) 114.09; (P) 114.44; (R1) 114.67; More… Intraday bias in USD/JPY is mildly on the downside for 113.47. Break there will resume the fall from 112.52 structural support. Considering bearish divergence condition in Read more…
Daily Pivots: (S1) 1.2478; (P) 1.2521; (R1) 1.2556; More… Intraday bias in USD/CAD stays on the downside at this point. As noted before, the whole pattern from 1.2005 might be finished three waves to 1.2963. Read more…
Market sentiment is mixed. There is a certain will to buy a dip in US indices, yet the aggressive hawkish Federal Reserve (Fed) pricing doesn’t allow the appetite to get restored. It results in hectic Read more…
Daily Pivots: (S1) 0.7180; (P) 0.7209; (R1) 0.7241; More… AUD/USD recovers ahead of near term channel support, but stays well below 0.7313 resistance. Intraday bias remains neutral first. We’re still slightly favoring the case that Read more…
Australian Dollar rises broadly in Asian session today following much stronger than expected job data. Expectation for RBA tightening is increasing with calls for a hike as soon as in August. Canadian Dollar is also Read more…
DXY: On the H4 timeframe, prices are abiding to a bearish trendline and are on bearish momentum. We further bearish momentum from our 1st resistance at 95.854 in line with 50% Fibonacci retracement towards our Read more…
Japan’s export rose 17.5% yoy to record JPY 7881B in December, slowing from November’s 20.5% yoy, but beat expectation of 15.9% yoy. Exports to China grew 10.8% yoy while shipments to US rose 22.1% yoy. Read more…
China’s PBoC cut the one year loan prime rate by 10 bps to 3.70%. The second rate cut since April 2020 following December’s. Five-year loan prime rate was lowered by 5bps to 4.60%, first cut Read more…
AUD/NZD soars in response to much better than expected Australia job data, and heightened expectation of RBA rate hike this year. The strong break of 100% projection of 1.0278 to 1.0610 from 1.0314 at 1.0646 Read more…
Australia employment grew 64.8k in December to 13.242m, well above expectation of 30.0k. Full time jobs rose 41.5k while part-time jobs rose 23.3k. Unemployment rate dropped from 4.6% to 4.2%, better than expectation of 4.5%. Read more…