Extended consolidation ahead of Fed but the downside remains at risk
The Euro eases on Wednesday but so far remains within the range of past two days, as traders await the outcome of Fed’s policy meeting.
Wide expectations are for unchanged policy as the central bank reiterated its stance that no changes in…
Read More...
Read More...
Fed is likely to keep policy unchanged despite strong signs of economic recovery
The US Federal Reserve is likely to stay on course and keep the policy unchanged at the end of two-day Federal Open Market Committee meeting today, as there has not been enough progress in the economic recovery yet to start easing the…
Read More...
Read More...
Australian inflation rose much less than expected in Q1
Australian inflation rose by 1.1% in the first quarter from 0.9% in the previous three-month period but missed forecast for 1.4% rise and remaining far below Australia central bank’s 2-3% target band.
A key measure of trimmed mean…
Read More...
Read More...
Turkish lira bounces from one-month low but overall picture remains negative
Turkish lira rebounded from new one-month (8.4340) posted on Monday, as traders collected profits after the last week’s advance showed signs of stall on approach to Mar 30 /22 lower tops (8.4443 / 8.5015).
Despite fresh strength, overall…
Read More...
Read More...
Bear-trap and rising thick daily cloud add to signs of downtrend stall
The dollar bounces in early Tuesday’s trading after double failure at key Fibo support at 107.76 (38.2% of 102.59/110.96) signaled formation of bear-trap pattern and generated initial bullish signal.
The action is also supported by…
Read More...
Read More...
Bulls are consolidating ahead of fresh push through pivotal 1.21 resistance zone
Bulls are taking a breather after Monday’s failure to clearly break through important Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704) and the action was capped by bear-trendline (1.2114) connecting tops at 1.2349 and 1.2242.
Monday’s daily…
Read More...
Read More...
The dollar is consolidating on Monday after 0.5% drop on Friday, but remains in red, weighed down by Friday’s big bearish daily candle and close below the base of ascending daily cloud.
Additional bearish signal has been generated on…
Read More...
Read More...
German business morale improved much below expectations in April due to third wave of COVID…
The German Ifo business climate index rose to 96.8 in April from 96.6 in March, disappointing expectations for strong rise to 97.8, the highest since May 2019.
Slight improvement in business morale reflects Germany’s continuous efforts…
Read More...
Read More...
Sterling regained traction but continues to move within daily cloud
Cable extended Friday’s bounce and rose above 1.39 mark in early European trading on Monday but continues to trade within daily cloud (1.3844/1.3957) which started to narrow and will twist later this week.
Break of cloud top would generate…
Read More...
Read More...
Euro hits two-month high, expected strong German Ifo data to further boost bulls
The Euro cracked pivotal Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704) in early Monday and hit two-month high (1.2116 – bear-trendline off 1.2349 peak) in extension of Friday’s 0.68% rally (the biggest one-day advance since Feb 5).
The…
Read More...
Read More...