For next week’s ECB meeting, another 50bp rate hike has been well telegraphed and fully priced by markets. We expect the ECB to continue to sound very hawkish and signal that further rate hikes are Read more…
USDJPY faced another rejection at the topline of the four-month-old downward-sloping channel near 131.11, increasing speculation that a new selling wave could start in the short term. The 20-day simple moving average (SMA) was another hurdle. Read more…
WTI oil futures (March delivery) have been stuck in a prolonged downtrend since June, generating a fresh one year-low of 70.30 in December. Even though the commodity managed to recoup some losses and break above its 50-day simple Read more…
USD/JPY: Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price Read more…
But corporate reports were providing investors with plenty of reason to pause. Microsoft was one of the larger firms to contribute to pessimism, as it reported slower growth in its enterprise software division. That implies Read more…
Markets Eco data were few yesterday and the outcome only gave limited directional guidance for global trading. German IFO business confidence (business climate rising from 88.6 to 90.2; expectations gaining from 83.2 to 86.4) confirmed Read more…
WTI crude treads water as US crude inventories show a smaller buildup. The price action is grinding last December’s high of 82.50 as its breach might trigger an extended rally in the medium-term. Instead, a Read more…
The Australian dollar climbed after Q4 inflation came in hotter-than-expected. On the daily chart, the euro turned south at the support-turned-resistance (1.5950) from a sell-off earlier last year. This suggests that the medium-term bias is Read more…
The Canadian dollar slipped after the BoC signalled a pause in rate increases. On the daily chart, the pair is looking to hold above 1.3320 as a triangle consolidation pattern seems to be taking shape Read more…
Amidst all the debate of whether the US is heading into a recession this year, we get the first look at last year’s GDP figures. This could be the biggest market moving event of the Read more…