Daily Pivots: (S1) 1.2285; (P) 1.2332; (R1) 1.2389; More… GBP/USD recovers slightly after hitting forming a temporary low at 1.2259, just ahead of 161.8% projection of 1.3641 to 1.2999 from 1.3297 at 1.2258. Intraday bias Read more…
Daily Pivots: (S1) 1.0487; (P) 1.0543 (R1) 1.0603; More… EUR/USD recovers mildly today as consolidation from 1.0470 extends. Intraday bias remains neutral for the moment. In case of another recovery, upside should be limited by Read more…
Risk aversion is the theme of the day, with major European indexes trading in red, while US futures are also diving. Australian Dollar is leading other commodity currencies lower. While Dollar is firm, it’s losing Read more…
Atlanta Fed President Raphael Bostic told Bloomberg today that last week’s 50bps rate hike was “already a pretty aggressive move”. He added, “I don’t think we need to be moving even more aggressively.” “I think Read more…
Minneapolis Fed President Neel Kashkari said in a CNBC interview, “I’m confident we are going to get inflation back down to our 2% target, but I am not yet confident on how much of that burden Read more…
G-7 commits to ban Russian oil The euro has started the week quietly, although there have important developments in the West’s sanction battle with Russia. On Sunday, G-7 leaders pledged to phase out or ban Read more…
“Although we continue to see inflationary pressures across the supply chain, we are working to drive costs down by continuing to increase our efficiency, productivity, and bringing more capacity on line,” said CEO Donnie King. Read more…
Stocks will extend their longest weekly losing streak in a decade Monday as Fed rate hike worries give way to stagflation bets and a renewed slump for the tech sector. Updated at 7:44 am EST Read more…
Bitcoin fell below $33,000 for the first time since last summer on Monday, extending its peak-to-trough slump to more than 51%. Bitcoin prices slumped lower Monday, extending its 2022 decline for the world’s biggest cryptocurrency Read more…
As yields on government debt continue to press higher, investors are forced to get out of assets that pay low or no interest or dividend… Not even gold is able to decouple itself from the Read more…