Germany Ifo Business Climate rose slightly from 88.6 to 90.2 in January, below expectation of 90.5. Current Assessment ticked down from 94.4 to 94.1, below expectation of 95.0. Expectations index, on the other hand, improved Read more…
Japan Cabinet Office lowers its monthly economic assessment for the first in 11 months. It said, “the economy is recovering moderately but some weakness is seen recently.” Also assessment on exports was downgraded for the Read more…
USDCAD has been moving sideways over the past two weeks, building a floor around 1.3370, but the bears seem determined to lead their market on their own way ahead of the BoC rate decision today Read more…
USD/CAD falls ahead of BoC rate decision USD/CAD is heading lower ahead of the BoC interest rate decision. The central bank, which was one of the first central banks to start hiking interest rates last Read more…
NZDUSD had experienced a steep downtrend in 2022, posting a 31-month low of 0.5510 in early October. However, the pair has staged a substantial rebound since then, which seems to be running out of steam slightly below the Read more…
The British Pound started a downside correction from the 1.2450 resistance zone against the US Dollar. The GBP/USD pair declined below the 1.2350 level, but it remained well bid near 1.2260. The pair is now Read more…
The ECB prepares to hold its first rate-setting meeting for 2023 on February 2. The market is almost certain that another 50 bps rate hike will be announced next week. The attention falls on the ECB outlook Read more…
Markets Yesterday, the (EMU) PMI’s were the main eco story for trading. Both manufacturing (48.8 from 47.8) and services (50.7 from 50.2) beat expectations, raising the composite PMI to 50.2, the first reading north of Read more…
Daily Pivots: (S1) 1.5408; (P) 1.5455; (R1) 1.5502; More… EUR/AUD’s decline from 1.5976 resumes by breaking through 1.5376 today, and intraday bias is back on the downside. Sustained break of 1.5271 support will carry larger Read more…
Daily Pivots: (S1) 0.8778; (P) 0.8813; (R1) 0.8858; More… Intraday bias in EUR/GBP remains on the upside for retesting 0.8896 resistance. Firm break there will resume whole rise from 0.8896 to 61.8% projection of 0.8545 Read more…