Daily Pivots: (S1) 1.5860; (P) 1.5924; (R1) 1.6007; More… Intraday bias in EUR/AUD stays neutral for the moment. Further rally will remain in favor as long as 1.5776 support holds. Above 1.6223 will resume whole Read more…
American shares declined on Thursday after bigger-than-expected inflation figures. The Dow Jones index declined by 0.40% while the S&P 500 fell by 0.62%. The yield of the 10-year also declined. Data showed that US inflation Read more…
Thursday’s data showed that consumer prices in the US advanced from 7.0% to 7.5% in January, more than 7.3% penciled in by analysts. The Fed hawks came back in charge aggressively following the US inflation Read more…
UK GDP contracted -0.2% mom in December, better than expectation of -0.5% mom. Services output dropped -0.5% mom. Production rose 0.3% mom while construction rose 2.0% mom. Services and construction were both above pre-coronavirus levels, Read more…
Overview: A combo of renewed increases in commodity prices, very tight labour markets and high consumer inflation expectations continues to keep upward pressure on inflation intact. On a positive note, electricity prices in Europe have Read more…
Daily Pivots: (S1) 115.54; (P) 115.94; (R1) 116.40; More… Intraday bias in USD/JPY remains on the upside with focus on 116.34 high. Firm break there will resume larger up trend from 102.58. Next target is Read more…
Much volatility was seen in the markets overnight, but as dusts settled, risk-off sentiment dominated. Fed funds futures are now pricing in 94.7% chance of a 50bps rate hike by Fed after the strong CPI Read more…
In the latest Survey of Expectations of RBNZ, OCR expectations continued to rise in the short, medium and long term. OCR is expected to rise from current 0.75% to 1.05% by the end of Q1. Read more…
RBA Governor Philip Lowe told a parliamentary committee that it is “too early” to conclude that inflation is “sustainably in the target range”. He added, “in underlying terms, inflation has just reached the midpoint of Read more…
St Louis Fed President James Bullard said yesterday’s inflation report “shows continued inflationary pressure in the US” and is “concerning for me and for the Fed.” He added, “you have got the highest inflation in Read more…