Daily Pivots: (S1) 0.9567; (P) 0.9613; (R1) 0.9642; More… Intraday bias in USD/CHF stays on the downside at this point. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper Read more…
Daily Pivots: (S1) 136.15; (P) 136.80; (R1) 137.28; More… USD/JPY’s fall from 139.37 extends lower today and focus is now on 134.73 support. Considering bearish divergence condition in daily MACD, sustained break of 134.73 will Read more…
Dollar was sold off broadly overnight and stays weak in Asian session. Markets well received Fed Chair Jerome Powell’s message that tightening pace is going to slow ahead. While stocks also rebounded, Yen reacted more Read more…
DXY: On the H4, with prices breaking out of the descending channel and expected to bounce off the stochastic support, we have a bullish bias that prices will drop and rise from the 1st support Read more…
Short Term Elliott Wave view in SP500 (SPX) suggest that rally from 6.17.2022 low is unfolding as a zig zag Elliott Wave structure. Up from 6.17.2022 low, wave 1 ended at 3925.73 and dips in Read more…
New Zealand ANZ business confidence improved from -62.6 to -56.7 in July. Own activity outlook rose from -9.1 to -8.7. Employment intentions rose from 0.7 to 1.1. Pricing intentions rose from 73.7 to 74.0. Inflation Read more…
Australia retail sales rose 0.2% mom to AUD 34.2B in June, below expectation of 0.4% mom. Through the year, sales rose 12.0% yoy. Ben Dorber, head of retail statistics at the ABS, said: “While the Read more…
Deputy Governor Masayoshi Amamiya said, “Japan’s economy hasn’t recovered yet to pre-pandemic levels… The foundations for an economic recovery remain weak and the outlook for wages is highly uncertain. As such, we need to support Read more…
US stocks staged a strong rebound overnight after Fed Chair Jerome Powell hinted that tightening could slow ahead. After yesterday’s 75bps hike, federal funds rate is now at 2.25-2.50%, close to the 2.5% neutral rate. Read more…
Summary The FOMC raised rates by 75 bps at today’s meeting, which was widely expected. All 12 voting members of the Committee supported the decision to hike rates by 75 bps. Inflation remains forefront in Read more…