The Australian dollar continues to recover as commodities bounce higher. The rebound gained traction after it broke above the first resistance at 0.7050. A combination of short-covering and fresh buying has sent the aussie to Read more…
The Swiss franc rallied further after the SNB said it would tighten if inflation persisted. The pair has given up more than half of its gains from the past month. A fall below 0.9710 which Read more…
EUR/USD The euro continued to gain ground against the greenback and the currency pair tested the resistance zone at 1.0712. A confirmation of the breach could easily lead to a continuation of the recovery and Read more…
The US Dollar started a fresh decline from well above 131.20 against the Japanese Yen. The USD/JPY pair traded below the 130.00 support zone to move into a bearish zone. The pair even traded below Read more…
Germany Gfk consumer confidence for June rose slightly from -26.6 to -26.0, worse than expectation of -25.6. In May, economic expectations rose from -16.4 to -9.3. Income expectations rose from -31.3 to -23.7. Propensity to Read more…
Markets Of late markets were mainly driven by global sentiment and by investors pondering the impact of central banks tightening to cap inflation. In this complex, markets are giving ever more weight to activity data. Read more…
The housing market has been a bedrock of the US economy during a period of historically low rates. Now those days are over, large cracks are appearing in the rendering. Home sales are falling faster Read more…
Market movers today In Germany and France, we get consumer confidence surveys for June and May, respectively. However, while these surveys have painted a bleak picture of the state of the consumer, actual spending has Read more…
Social media companies were hit hard yesterday, as Snap dropped more than 43% in yesterday’s session alone, and is down by 85% since its last September peak. Other companies that make money with digital advertising Read more…
Daily Pivots: (S1) 1.0682; (P) 1.0715 (R1) 1.0770; More… Intraday bias in EUR/USD stays mildly on the upside as rebound from 1.0348 extends. Firm break of 55 day EMA (now at 1.0760) will target 1.0935 Read more…