EUR/USD slides further as the Dollar gains steadily EUR/USD extended its decline below the 1.0600 support. A key bearish trend line is forming with resistance near 1.0580 on the 4-hours chart. GBP/USD could dive if it breaks the 1.1920 support.
USD/JPY Regains Strength USD/JPY climbed higher above the 132.50 resistance zone. A connecting bullish trend line is forming with support near 134.50 on the 4-hour chart. EUR/USD slowly moved below the 1.0620 support zone. The US GDP grew 2.7% in
FOMC Minutes Instant Insight In their January meeting, Fed officials agreed to continue rate hikes until high inflation is controlled. The Fed is still attuned to the risk they may have to do more to keep inflation falling, a hawkish
RBNZ Monetary Policy Statement Feb 2023 The Reserve Bank raised the official Cash Rate by 50 basis points to 4.75%, and maintained its projection of a 5.5% peak in the coming months. There was almost no change to the projected
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has
EUR/USD Recovery Attempt Could Face Hurdles EUR/USD traded as low as 1.0612 and is currently correcting losses. A key bearish trend line is forming with resistance near 1.0685. GBP/USD is struggling below the 1.2120 resistance zone. Gold price is attempting
NZD/USD Fails to Push Back Above 50-Day SMA NZD/USD appears to be stuck in a narrow range as it holds above the weekly low, but the exchange rate may struggle to retain the advance from the January low as it
Powell Continues to be “Less Hawkish” Fed Chairman Powell continued with his less hawkish commentary today. He started by noting once again that the disinflationary process has started, but it will be bumpy. He also noted that it will be
25bp Hawkish Hike from the RBA The RBA hiked the cash rate target by 25 basis points to 3.35% Underlying inflation was above expectations to 6.9% Strong domestic demand is adding to the inflationary pressures CPI is expected to decline
RBA Expected to Hike by 25bps The RBA are expected to rise interest rates by 25 bp to 3.35% tomorrow, which would take rates to their highest level since September 2012. If so, it would be their fourth consecutive 25bp
USD/CNH, China’s Economy Expanding The National Bureau of Statistics China released PMI data this week which shows both the manufacturing and services sector are expanding. Appetite for risk has enjoyed a great to start to the year, mostly thanks to
FOMC Hikes Rates and Signals More to Come As universally expected, the FOMC raised its target range for the federal funds rate by 25 bps at the conclusion of its policy meeting today. But the tightening cycle likely is not
