Daily Pivots: (S1) 1.3602; (P) 1.3659; (R1) 1.1.3769; More…. USD/CAD recovered after drawing support from 1.3501 but stays well below 1.3976 resistance. Intraday bias remains neutral first, and further rise in favor as long as Read more…
Daily Pivots: (S1) 0.6301; (P) 0.6396; (R1) 0.6446; More… AUD/USD’s break of 0.6355 minor support suggests that corrective recovery from 0.6169 has completed at 0.6521, missing 0.6539 resistance. Rejection by falling 55 day EMA maintains Read more…
After initial jitters, Dollar rose broadly overnight as Fed Chair Jerome Powell indicated the possibility of higher terminal rate in the current tightening cycle. US stocks ended notably lower and risk-off sentiment carried on in Read more…
BoE is widely expected to raise interest rate by 75bps to 3.00% today. That would be the eighth consecutive rate rise, and the largest since 1989. Governor Andrew Andrew Bailey had already indicated earlier that Read more…
USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. Overnight, USDJPY experienced increased volatility due to the FOMC news release at 2am New York time, with price closing under the 1st Read more…
China Caixin PMI Services dropped from 49.3 to 48.4 in October, below expectation of 49.2. PMI Composite dropped from 48.5 to 48.3. Both were the lowest readings since May. Wang Zhe, Senior Economist at Caixin Read more…
RBNZ Governor Adrian Orr told a parliamentary committee that the central bank has “laser-like focus” on bringing inflation down to target. Yet, he admitted that, “the (inflationary) shocks still arriving through the global economy are Read more…
US stocks initially jumped after Fed hinted in the statement that pace of tightening could slow ahead. But sentiment reversed after Fed chair Jerome Powell indicated that slower pace of hikes might come soon, Fed Read more…
Key Highlights Bitcoin price climbed above $20,000 but struggled near $21,000. It broke a key bearish trend line with resistance near $19,370 on the 4-hours chart. The price could resume upside if it clears the Read more…
Fed Review: Another Hawkish 75bp Hike – We Now Expect 50bp also in February Fed hiked rates by 75bp as broadly expected. Powell delivered a hawkish message, emphasizing the need to tighten financial conditions further. Read more…