In contrast to the Fed, the Bank of England has said that the peak interest rate is likely to be lower than implied by financial markets. This was the main takeaway point from the just-released Read more…
The British pound is sharply lower today. In the European session, GBP/USD is trading at 1.179, down 1.83%. It has been a dreadful week for the pound, which has declined by 3.7%. Bank of England Read more…
EURUSD came under strong selling pressure yesterday following Fed Chair Powell’s hawkish remarks, breaking back below the medium-term downtrend line drawn from the high of February 10. The pair extended its slide today, breaking a short-term Read more…
Daily Pivots: (S1) 146.27; (P) 147.32; (R1) 148.97; More… Outlook in USD/JPY is unchanged as consolidation from 151.39 is continuing. Intraday bias stays neutral for the moment. Deeper decline cannot be ruled out, but downside Read more…
Daily Pivots: (S1) 0.9949; (P) 0.9995; (R1) 1.0079; More… Intraday bias in USD/CHF stays on the upside at this point. Firm break of 1.0146 will resume larger up trend. Next target is 1.0283 projection level. Read more…
Daily Pivots: (S1) 0.9761; (P) 0.9868; (R1) 0.9924; More… Intraday bias in EUR/USD remains on the downside at this point. Corrective pattern from 0.9534 should have completed with three waves up to 1.0092. Deeper decline Read more…
Daily Pivots: (S1) 1.1330; (P) 1.1447; (R1) 1.1507; More… GBP/USD’s break of 1.1256 suggests that rebound from 1.0351 has completed with three waves up to 1.1644, ahead of 1.1759 support turned resistance. The development retains Read more…
Sterling dives sharply after dovish BoE rate hike, which saw two doves dissented. Aussie and Kiwi are following as next weakest as risk-off sentiment persists. Dollar’s post-FOMC rally is accelerating, partly supported by expectation of Read more…
Investors are likely to focus on growth forecasts in China and negotiations with labor leaders in the US as Starbucks published fourth quarter earnings and new CEO Laxman Narasimhan prepares to take the helm. Starbucks Read more…
US initial jobless claims dropped -1k to 217k in the week ending October 29, slightly above expectation of 215k. Four-week moving average of initial claims dropped -500 to 219k. Continuing claims rose 47k to 1485k Read more…