Market movers today Markets will continue to digest yesterday’s Fed meeting (see below) and watch out for further headlines about a potential ceasefire agreement in Ukraine. Given high inflation pressures in the economy and rising Read more…
The Canadian dollar shot higher after February’s CPI beat expectations. A break above last October’s high at 93.00 could be an ongoing signal to end a 5-month long consolidation. The RSI’s double top in the Read more…
The New Zealand dollar found support from a rebound in commodity prices. The pair saw solid bids in the demand zone around 0.6725 and right over the 30-day moving average. A bullish RSI divergence showed Read more…
Gold struggles as the Fed maps out aggressive tightening. The precious metal has given up all its gains from the previous parabolic rise, which suggests a lack of commitment to support the rally. The price Read more…
Daily Pivots: (S1) 118.25; (P) 118.69; (R1) 119.19; More… USD/JPY’s rally resumed after brief consolidation and hits as high as 119.11 so far. Intraday bias is back on the upside. Next near term target is Read more…
The financial markets have responded rather well to Fed’s rate hike overnight. The close in major US indexes was strong while Asian stocks also follow higher. Yen is clearly pressured and is extending recent decline, Read more…
BoE is widely expected to raise the Bank rate again by 25bps to 0.75% today. The main focus is the voting. Last time, a slim majority of five MPC members won the vote and hiked Read more…
AUD/JPY rises to as high as 87.05 today, following broad based selloff in Yen. The break of 86.24 high confirms resumption of larger up trend from 59.85 (2020 low). The next near term target is Read more…
Australia employment grew 77.4k in February, nearly double of expectation of 40.0k. Full-time jobs rose 121.9k while part-time jobs dropped -44.5k. Employment was around 202k above pre-Delta high of June 2021. Unemployment rate dropped from Read more…
BoJ Governor Haruhiko Kuroda told the parliament today, “it will take more time to achieve our 2% inflation target in a stable manner, so it’s too early to debate specifics on how to exit from easy Read more…