Markets This morning, there was hope that chair Powell’s clarification on the Fed’s normalization path could bring some ST consolidation after recent sharp repositioning. Especially Powell’s remark that 75 bps hikes won’t become the new Read more…
As pressure mounts on BoJ to control yields, will we see a surprise policy response or perhaps government intervention? It has been a very busy week for central bank action. The US Federal Reserve hiked Read more…
Daily Pivots: (S1) 1.0368; (P) 1.0438 (R1) 1.0517; More… Intraday bias in EUR/USD remains mildly on the downside for retesting 1.0339 low. Decisive break there will resume larger down trend. Next target is long term Read more…
Daily Pivots: (S1) 1.2040; (P) 1.2123; (R1) 1.2255; More… GBP/USD is staying in consolidation above 1.1932 and intraday bias remains neutral. Outlook stays bearish with 1.2666 resistance intact. On the downside, sustained break of 61.8% Read more…
Daily Pivots: (S1) 133.01; (P) 134.31; (R1) 135.10; More… Intraday bias in USD/JPY remains neutral and consolidation from 135.58 is extending. Further rally is expected as long as 131.34 resistance turned support holds. Above 135.58 Read more…
The 25-basis-point hike was priced in but failure to surprise… is a surprise in this week of central bank surprises Following the BoE’s expected 25 basis point hike, the pound has dropped below $1.21 handle Read more…
BoE raises rates by 0.25% The Bank of England raised rates by 0.25% today. The rate hike, the fifth in a row, brings the Bank Rate to 1.25%. The markets were not all that impressed Read more…
Daily Pivots: (S1) 0.9899; (P) 0.9974; (R1) 1.0017; More… USD/CHF’s steep decline suggests that rebound from 0.9543 has completed at 1.0048, after rejection by 1.0063 resistance. Intraday bias mildly on the downside for 0.9543 support. Read more…
Swiss Franc surges sharply higher today after surprised rate hike by SNB. Sterling also rises on BoE rate hike with hawkish voting. Yen is following closely on risk aversion but Dollar is lagging slightly behind. Read more…
The two legacy carmakers face questions from investors whether consumers still want to buy their cars as recession looms. General Motors (GM) – Get General Motors Company Report and Ford sell millions of vehicles a year. Read more…