Market optimism couldn’t survive to Jerome Powell’s testimony yesterday, as he said that a recession is possible, and that calling a soft landing is ‘very challenging’ under the current circumstances. More worryingly, Powell mentioned another Read more…
Federal Reserve Chairman Jerome Powell’s semi-annual testimony on Capitol Hill was the centre of attention overnight. Mr Powell finally dispensed with soft landings, describing them as challenging, and instead said that a recession is “certainly Read more…
Market movers today Today’s key event in the Scandis is the Norges Bank meeting. Everything points to a further increase in interest rates, so the question is simply how aggressive Norges Bank will be, as Read more…
Daily Pivots: (S1) 165.92; (P) 166.89; (R1) 168.00; More… Intraday bias in GBP/JPY is turned neutral with current retreat. On the upside, decisive break of 168.67 resistance will resume larger up trend. Next near term Read more…
Daily Pivots: (S1) 143.00; (P) 143.63; (R1) 144.57; More…. Intraday bias in EUR/JPY is turned neutral with current retreat. On the upside, firm break of 144.23 resistance will resume larger up trend. Next near term Read more…
Daily Pivots: (S1) 0.8587; (P) 0.8606; (R1) 0.8637; 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) 1.5152; (P) 1.5216; (R1) 1.5324; More… Intraday bias in EUR/AUD stays on the upside with focus on 1.5354 support turned resistance. Sustained break there will indicate medium term bottoming at 1.4318. Stronger Read more…
Daily Pivots: (S1) 1.0132; (P) 1.0160; (R1) 1.0188; More…. EUR/CHF is staying in consolidation above 1.0096 and intraday bias remains neutral first. Outlook is unchanged that corrective rebound from 0.9970 should have completed after failing Read more…
Daily Pivots: (S1) 1.2908; (P) 1.2952; (R1) 1.2992; More… USD/CAD is staying in consolidation from 1.3077 and intraday bias remains neutral. Further rise will remain in favor as long as 1.2859 support holds. On the Read more…
Daily Pivots: (S1) 0.6941; (P) 0.6967; (R1) 0.7000; More… Range trading continues in AUD/USD and intraday bias remains neutral for the moment. On the downside, firm break of 0.6828 support will resume larger fall from Read more…