WTI oil advanced around $8 in a strong recovery that extends into third straight day, lifted by renewed supply concerns. Growing worries that OPEC members Saudi Arabia and United Arab Emirates, the only two cartel-member Read more…
Inflation is slowly moving higher The phrase “surging inflation” is in the financial press on a daily basis, as the major economies grapple with what has become public enemy number one. Japan, however, does not Read more…
ECB President Christine Lagarde said in a speech, “based on the overall outlook, the process of normalizing our monetary policy will continue in a determined and sustained manner.” However, given the uncertainty, “the pace of Read more…
ECB Governing Council member Martins Kazaks told BloombergTV today that if the central bank hikes by 25bps in July, then a 50bps hike might be needed in September. He argued that ECB might need to Read more…
Looking at client positioning it’s interesting to see the CHF (Swiss franc) come up on the radar as one of the larger exposures held by clients – certainly more than usual. I suspect this is Read more…
The US dollar retreated slightly after strong economic data from the United States. Data by the commerce department showed that durable goods orders rose from 0.4% to 0.7%. That was a bigger increase than the Read more…
Daily Pivots: (S1) 165.06; (P) 165.68; (R1) 166.56; More… Range trading continues in GBP/JPY and intraday bias remains neutral. On the upside, decisive break of 168.67 resistance will resume larger up trend. Next near term Read more…
Daily Pivots: (S1) 142.45; (P) 142.97; (R1) 143.91; More…. EUR/JPY is still staying in range below 144.23 and intraday bias remains neutral. On the upside, decisive break of 144.23 will resume larger up trend. On Read more…
Daily Pivots: (S1) 0.8595; (P) 0.8611; (R1) 0.8645; More… Range trading continues in EUR/GBP and intraday bias remains neutral. Further rally is expected with 0.8484 support intact. On the upside, break of 0.8720 and sustained Read more…
Daily Pivots: (S1) 1.5215; (P) 1.5257; (R1) 1.5330; More… Intraday bias in EUR/AUD stays neutral for the moment. On the upside, sustained break of 1.5354 support turned resistance will indicate medium term bottoming at 1.4318. Read more…