The euro retreats ahead of the ECB interest rate decision. On the daily chart, the single currency is still consolidating its gains after breaking above September’s high of 0.9850. The supply zone near the recent Read more…
The US dollar edged higher after November’s PPI beat estimates. Sentiment remains fragile after the price made a U-turn at 137.80, which was a brief support in the previous consolidation. Some buying interest has emerged Read more…
EUR/USD awaits double catalyst The euro consolidates as both central banks will fire their last salvos of the year. Inflation expectations remain high in the eurozone and bolster the likelihood of a 50 bp hike Read more…
Friday’s US PPI print was soft, but not soft enough to meet market expectations. The US producer prices in November rose 7.4% since a year ago, from 8% printed a month earlier, and more than Read more…
Market movers today We start the week in a quiet fashion, with Danish November inflation figures the data highlight in Scandinavia today. We expect a decline in Danish CPI inflation in November to 9.7% from Read more…
UK GDP grew 0.5% mom in October, better than expectation of 0.4% mom. Services grew 0.6% mom and was the main driver of growth in GDP. Production was broadly flat for the month. Construction grew Read more…
EUR/USD: Ahead of the Fed and ECB Meetings Two key events await us next week. The first is the FOMC (Federal Open Market Committee) meeting of the US Federal Reserve, which will be held on Read more…
Daily Pivots: (S1) 166.61; (P) 167.34; (R1) 168.17; More… Intraday bias in GBP/JPY remains neutral for the moment and more sideway trading could be seen. On the downside, break of 164.02 should resume the whole Read more…
Daily Pivots: (S1) 143.20; (P) 143.84; (R1) 144.50; More…. Intraday bias in EUR/JPY remains neutral for the moment, and further decline remains mildly in favor. Break of 140.75 will resume the choppy fall from 148.38. Read more…
Daily Pivots: (S1) 0.8557; (P) 0.8598; (R1) 0.8632; More… Sideway trading continues in EUR/GBP and intraday bias remains neutral. Further decline is expected with 0.8674 resistance intact. Break of 0.8545 will resume the fall from Read more…