US stocks soared overnight, with NASDAQ and S&P 500 both extending their record runs with gains exceeding 1%. Investors responded positively to Fed Chair Jerome Powell’s two-day semiannual testimony, even though forex markets remained relatively unchanged. Powell refrained from hinting at the timing of Fed’s first rate cut but acknowledged that the risks to the […]
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Daily Pivots: (S1) 1.3171; (P) 1.3271; (R1) 1.3323; More… Intraday bias in GBP/USD is turned neutral with current recovery and some consolidations would be seen. But risk will stay on the downside as long as Read more…
Daily Pivots: (S1) 159.23; (P) 159.49; (R1) 160.00; More… Intraday bias in USD/JPY is turned neutral with current retreat. On the upside, above 159.74 will target a retest of 161.94. Firm break there will confirm Read more…
Headline CPI inflation cooled in February to 1.8% year-on-year (y/y) slightly below consensus expectations. The GST/HST break ended partway through February 2025, which lead to large price increases in that month, but puts downward pressure Read more…