Australia AiG Performance of Services Index dropped -3.8 pts to 56.2 in March. Sales dropped sharply by -14.9 to 53.7. Employment dropped -0.3 to 54.4. But new orders rose 2.4 to 63.5. Input prices jumped Read more…
Bank of Japan board member Asahi Noguchi said while core consumer inflation may exceed 2% from April, it’s mainly driven by external factors rather than domestic demand. He added, “Japan is not experiencing the kind Read more…
In the minutes of the March 15-16 FOMC meeting, many participants said they would have preferred a 50bps hike because inflation was well above target, and risks were to the upside. However, a number of Read more…
Key Highlights NZD/USD climbed above 0.7000 before it started a downside correction. It broke a crucial bullish trend line with support near 0.6945 on the 4-hours chart. EUR/USD settled below the key 1.0950 support. GBP/USD Read more…
Natural gas has seen another strong rally, although lower oil prices yesterday saw it falter just beneath a key level of resistance, leaving clues of near-term exhaustion. During a joint press conference with the European Read more…
The Reserve Bank Governor surprised us on Tuesday with the Board’s decision to abandon its patient approach to monetary policy. Since the last Board meeting, when “patience” was emphasised, we have seen a further drop Read more…
Those who’ve been long the US dollar index (DXY) since the middle of last year have done well for themselves. The DXY has gained c. 12% from its January 2021 swing low of 89.21 to Read more…
The FOMC minutes reiterated the Fed’s extremely hawkish stance which saw the US dollar dominate the session. Wednesday US cash market close: The Dow Jones Industrial fell -144.67 points (-0.42%) to close at 34,496.51 The Read more…
Platinum under bearish pressure Likely to fall to support level 929.00 Platinum under bearish pressure after the price broke below the support level 966.00 (which has been reversing the price from the middle of January). Read more…
USDCAD under bullish pressure Likely to rise to resistance level 929.00 USDCAD currency pair under bullish pressure after the price reversed up from the strong support level 1.2450 (previous monthly low from January) – ending Read more…