The roller coaster activity on US stock markets continued overnight, with Wall Street deciding that inflation and recessions were an issue for two days in a row. A tiny rise in US Initial Jobless Claims Read more…
Daily Pivots: (S1) 1.0561; (P) 1.0668 (R1) 1.0724; More… EUR/USD’s breach of 1.0626 minor support argues that rebound from 1.0348 has completed at 1.0786 already, after multiple rejection by 55 day EMA. Intraday bias is Read more…
Euro’s post ECB rally was very short-lived, while market turned into risk-off mode later in US session. Negative sentiment continues in Asia today as US consumer inflation data is awaited. So far, Sterling is the Read more…
US stocks tumbled sharp in late trading overnight, as traders turned into defense mode ahead of today’s consumer inflation report. Headline CPI is expected to tick down from 8.3% yoy to 8.2% yoy in May. Read more…
China PPI slowed notably from 8.0% yoy to 6.4% yoy in May, below expectation of 6.5% yoy. That’s also the lowest level in 14 months since March 2021. CPI was unchanged at 2.1% yoy, below Read more…
DXY: On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to our 1st resistance at 103.902 where the horizontal swing high resistance, 127.2% fibonacci extension Read more…
Key insights from the week that was. The RBA and ECB were the focus for market participants this week. Both made a stand against inflation and associated risks consistent with their individual circumstances. The 50bp Read more…
The RBA Board decided to raise the cash rate by 50 basis points at its meeting on June 7. The bold decision came as quite a surprise to many analysts. Even the decidedly hawkish market Read more…
If yields rise and spreads widen between the peripheral countries and the core countries, the ECB could re-enter the market and buy debt of the peripheral countries to bring down yields. The ECB left rates Read more…
In the past two weeks WTI’s price was on the rise and the commodity seems to be enjoying some support from its fundamentals as the price action is currently just above $120 per barrel. The Read more…