Markets The ECB delivered a 50 bps hawkish-to-the-bone rate hike yesterday. More than a third of ECB governors wanted a third 75 bps move, Bloomberg reported. To get the hawks on board, the ECB’s communication Read more…
Daily Pivots: (S1) 1.0568; (P) 1.0652; (R1) 1.0711; More… Intraday bias in EUR/USD is turned neutral first with current retreat. But further rally is expected as long as 1.0481 resistance turned support holds. Firm break Read more…
Daily Pivots: (S1) 1.2079; (P) 1.2256; (R1) 1.2355; More… A short term top is formed at 1.2445 in GBP/USD on bearish divergence condition in 4 hour MACD. Intraday bias is back on the downside for Read more…
Daily Pivots: (S1) 0.9236; (P) 0.9276; (R1) 0.9326; More… There is no clear sign of bottoming in USD/CHF despite loss of downside momentum. Further fall would be seen towards 61.8% projection of 1.0146 to 0.9355 Read more…
Daily Pivots: (S1) 135.97; (P) 137.07; (R1) 138.90; More… Break of 137.95 suggests resumption of rebound from 133.61. Intraday bias is back on the upside for 142.24 resistance next. On the downside, however, firm break Read more…
Daily Pivots: (S1) 0.6823; (P) 0.6852; (R1) 0.6895; More… A short term top is formed at 0.6892 in AUD/USD with current decline. Intraday bias back on the downside for 38.2% retracement of 0.6169 to 0.6892 Read more…
Daily Pivots: (S1) 1.3563; (P) 1.3618; (R1) 1.3698; More…. Range trading continues in USD/CAD and intraday bias remains neutral for the moment. The favored case is still that correction from 1.3976 has completed at 1.3224. Read more…
In November, UK retail sales volumes declined -0.4% mom, much worse than expectation of 0.3% mom rise. Ex-fuel sales dropped -0.3% mom, worse than expectation of 0.3% mom. Fuel sales volumes declined -1.7% mom. In Read more…
Market movers today Markets will continue to digest the flurry of central bank meetings yesterday and we look out for ECB ‘sources’ stories, after the ‘hawkish’ rates guidance yesterday (see below). December flash PMI figures Read more…
I should admit that I thought the major event of this week would be Federal Reserve (Fed) President Jerome Powell’s speech and a dot plot from the FOMC members, which would look significantly more hawkish Read more…