All eyes are on US inflation data today. Investors feel the heat before today’s inflation print. All three major indices extended losses yesterday, as the S&P500 dropped 1.70% and slipped again below its 50-DMA, while Read more…
Market movers today This morning, the UK jobs report is due out. We are in particular interested in the number of payrolled employees for March, which covers the period after the Russian invasion. Based on Read more…
DXY: On the H4 timeframe, prices are consolidating on an intermediate support. We see the potential for a bounce from our intermediate support at 99.754 in line 23.6% Fibonacci retracement towards our 1st resistance at Read more…
Daily Pivots: (S1) 1.2586; (P) 1.2614; (R1) 1.2661; More… USD/CAD’s rebound from 1.2401 resumed by breaking through 1.2617 temporary top. Intraday bias is back on the upside. Sustained trading above 55 day EMA (now at Read more…
Dollar turned a bit mixed in Asian session as markets await consumer inflation data from the US today. The greenback is losing some momentum against Yen as it’s pressing a long term resistance level at Read more…
Australia NAB business confidence rose from 13 to 16 in March. Business conditions rose from 9 to 18. Looking at some details, trading conditions rose from 11 to 24. Profitability conditions rose from 5 to Read more…
Japan corporate goods price index rose 7.3% yoy in March, slowed from 9.7% yoy but beat expectation of 9.3% yoy. The March index, at 112.0, was the highest level since December 1982. The yen-based import Read more…
Chicago Fed President Charles Evans said yesterday that 50bps rate hike in May is “obviously worthy of consideration; perhaps it’s highly likely even if you want to get to neutral by December.” But he also Read more…
Key Highlights GBP/USD settled below the 1.3120 pivot level. A key bearish trend line is forming with resistance near 1.3075 on the 4-hours chart. EUR/USD is facing an uphill task near 1.0950. The US CPI Read more…
At 11 am Sydney time tomorrow, the RBNZ will announce either a 25bp or an inflation-busting 50bp rate hike in what will be a very close call. It’s been six weeks since the last RBNZ Read more…