Daily Pivots: (S1) 1.1703; (P) 1.1766; (R1) 1.1821; More… Intraday bias in GBP/USD is turned neutral first with a temporary top in place at 1.1853. Some consolidations would be seen first, but downside of retreat Read more…
Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen Read more…
The RBA softens rate outlook just when it is increasing its inflation forecast – unusual approach. The Minutes of the November Monetary Policy Meeting make a clear case for adopting a steady approach to the Read more…
Asian Indices: Australia’s ASX 200 index fell by -6.9 points (-0.1%) and currently trades at 7,139.40 Japan’s Nikkei 225 index has risen by 36.65 points (0.13%) and currently trades at 28,000.12 Hong Kong’s Hang Seng Read more…
Summary of the RBA’s minutes – considerations on monetary policy Inflation in Australia remained too high Strong demand is contributing to high inflation Medium-term inflation expectations and wages growth remained consistent with inflation returning to Read more…
USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If the bearish momentum continues, Read more…
China industrial production rose 5.0% yoy in October, below expectation of 5.2% yoy. Retail sales dropped -0.5% yoy, much worse than expectation of 1.0% yoy. That’s also the first decline since May. Fixed asset investment Read more…
Japan GDP contracted -0.3% qoq in Q3, much worse than expectation of 0.3% qoq. In annualized term, GDP contracted -1.2%, versus expectation of 1.1%. GDP deflator dropped -0.5% yoy, versus expectation of -0.2% yoy. During Read more…
Minutes of RBA’s November 1 meeting revealed that board members consider both a 25 bps or a 50bps rate hike. There were “arguments in favour of both courses of action”, but the case for 25bps Read more…
Hobart – 1 November 2022 Members present Philip Lowe (Governor and Chair), Michele Bullock (Deputy Governor), Mark Barnaba AM, Wendy Craik AM, Ian Harper AO, Carolyn Hewson AO, Steven Kennedy PSM, Carol Schwartz AO, Alison Read more…