US 10-year yield resumed recent up trend after hawkish comments from Fed officials, and closed up 0.144 at 2.556. It should be emphasized again that TNX is now facing multi-decade channel resistance, at around 2.6. Read more…
China Caixin PMI Services dropped sharply from 50.2 to 42.0 in March, much worse than expectation of 49.9. That’s also the worst reading since February 2020. PMI Composite dropped from 50.1 to 43.9, also the Read more…
ECB Chief Economist Philip Lane said in an interview with Antenna TV, there are three concerns about the Russian invasion of Ukraine, from view point of the economy, including energy, trade and uncertainty. “The war Read more…
Kansas City Fed President Esther George told Bloomberg that “50 basis points is going to be an option that we will have to consider, along with other things” at the May FOMC meeting. “We have Read more…
DXY: On the H1 timeframe, prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 99.33 in line with 23.6% Fibonacci Retracement towards our 1st resistance at Read more…
Key Highlights AUD/USD started a strong increase above the 0.7520 resistance. A key bullish trend line is forming with support near 0.7530 on the 4-hours chart. EUR/USD extended decline below the main 1.0950 support. GBP/USD Read more…
Federal Reserve Governors Lael Brainard and Esther George were on the wires today, both coming out with hawkish comments that pushed the US Dollar higher. Brainard said that “the Fed is prepared to take strong Read more…
EURJPY has rallied 1300+ pips during three weeks of March. It found a low at 124.39 on March 7, 2022 and reached a high of 137.54 on March 28, 2022. This equates to 10.57% gain Read more…
Short Term outlook in Gold (XAUUSD) suggests the decline from March 8 peak is unfolding as a double three Elliott Wave structure. Down from March 8, wave (W) ended at 1895.13 and rally in wave Read more…
Gold closed the previous week in red territory but overall maintained its wider sideways motion it has been moving within for the past months. Gold traders continue to carefully monitor economic and geopolitical developments around Read more…