Sterling keeps traction but downside remains at risk as negative tone prevails in fundamentals
Cable bounces from a daily low at 1.2430 (the lowest since May 19, after being hit by the story about confidence vote on PM Boris Johnson.
Although Johnson survived the vote, he suffered significant political damage as 41% of Conservative…
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Bulls remain unobstructed and eye 2002 peak
The USDJPY continues to trend higher and posted new 2022 high at 133.00 in early Tuesday, following break and close above previous yearly peak on Monday.
Weak Japan’s household spending data signaled that rising costs hit consumers more…
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The Reserve Bank of Australia surprises on 50 basis points rate hike
Australia’s central bank surprised markets on their June policy meeting by raising its cash rate by 50 basis points to 0.85% vs widely expected 0.25% hike.
The RBA already lifted rates by 0.25% in May, in the first rate raise since 2010.…
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Cable stands at the front foot on Monday ahead of key event today – confidence vote on PM…
Cable bounces from the dangerous 1.2470 zone (Fibo 38.2% of 1.2155/1.2866 upleg / converged 20/30DMA’s) but remains within a narrowing congestion which extends into fourth straight day, awaiting the key event today – a confidence vote on UK…
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Gold remains biased higher but await US CPI data for more signals
Spot gold regained traction on Monday, but gains were limited, retracing the small part of Friday’s 1% drop.
Near-term action lack direction but is expected to keep overall positive bias while holding above key supports at $1840 zone…
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Brent oil holds above $120 on fears of tight supply in increased Saudi Arabia’s prices
Brent oil is establishing above $120 barrier which was broken on Friday and hit new ten-week high on Monday, as concerns about persisting tight supply on growing doubts that OPEC+ is likely to achieve increased output target and cover…
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Turkish lira weakens further and eyes record low for retest, in very negative environment
The USDTRY rose to new highest since mid-Dec 2021 on Monday and broke through pivotal Fibo barrier at 16.41 (76.4% of 18.33/10.20) pullback that adds to positive signals.
Lira came under fresh pressure after Turkey CPI data last week…
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Bulls look for retest of 2022 high after consolidation
The USDJPY is consolidating under 2022 high in early Monday, following last Friday’s 0.77% advance that keeps bulls intact for further gains.
Last week’s solid US manufacturing and labor data keep the dollar inflated, while traders focus…
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US labor sector is expected to see a solid job growth and lower unemployment in May but focus will…
All eyes are today’s release of US jobs report for May which is going to give more details about the situation in the labor sector, but also to provide more clues of the sector’s performance in conditions of soaring inflation, labor…
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Cable remains constructive but the downside still vulnerable; US jobs data in focus
Cable is moving within a narrow range in early Friday and remains constructive after Thursday’s 0.75% advance.
Technical picture is mixed, as moving averages of 10/20/30 days are conflicting, bullish momentum is weaker and RSI neutral.…
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