Covid reared its ugly head again on economic data, which saw China’s service PMI contract at its fastest pace since the pandemic. Service sector activity in China was dragged lower due to the recent rise Read more…
Market movers today FOMC minutes from the March meeting will be released in the evening, and focus will be on any hints about the upcoming QT, more so than rate hikes. Fed’s Brainard said yesterday Read more…
Federal Reserve (Fed) Governor Lael Brainard’s hawkish comments rocked the markets yesterday as she said that the next interest rate hikes should be more aggressive to tame the skyrocketing inflation in the US, and that Read more…
The S&P 500 falls back as yield curve inversion raises concerns of an economic contraction. On the daily chart, a break above the February high at 4590 and a bullish MA cross suggest a steady Read more…
The US dollar rallies as traders hoard the safe haven currency. The price is in a narrowing consolidation range as a sign of short-term hesitation. Overall sentiment remained downbeat after the latest rebound hit resistance Read more…
The Australian dollar soared after the RBA signaled higher interest rates later this year. The pop above the daily resistance at 0.7550 has put the Aussie on a bullish reversal course for the weeks to Read more…
Daily Pivots: (S1) 160.72; (P) 161.34; (R1) 162.18; More… Intraday bias in GBP/JPY remains neutral as consolidation from 164.61 is still extending. Outlook remains bullish with 158.04 resistance turned support intact, and further rally is Read more…
Daily Pivots: (S1) 134.35; (P) 134.74; (R1) 135.18; More…. EUR/JPY is still staying in consolidation from 137.49 and intraday bias remains neutral. With 133.70 minor support intact, further rally is expected. On the upside, sustained break Read more…
Daily Pivots: (S1) 122.38; (P) 122.66; (R1) 123.06; More… USD/JPY’s rebound from 121.27 continues today but stays below 125.09 high. Intraday bias remains neutral first and more consolidation could still be seen. But outlook remains Read more…
Dollar trades broadly higher overnight together with treasury yields on hawkish comments from Fed officials. The green back remains firm in Asian session today. Though, Aussie remains the strongest one for the week so far, Read more…