Strong US Retail Sales; Should the Fed Consider it Transitory?
With easy monetary policy and more money from the government, US consumers are borrowing at low interest rates and spending stimulus checks US Retail sales for June were strong. The headline print was +0.6% vs -0.4% expected. May’s print was...
Why the Fed hates cryptocurrencies and especially stablecoins
Federal Reserve chair Jerome Powell has been testifying on Capitol Hill this week, and it’s pretty clear that he is not a fan of digital coins – especially stablecoins. During a two-day congressional hearing, the Fed chief said the main...
ECB Preview – Aligning Forward Guidance to Strategic Review Outcome
When ECB meets next week, the market attention turns to the implications and new communication on the back of the new strategic framework. We do not expect new policy signals coming from the change in language. We expect an acknowledgement...
Dollar Firms Up Slightly after Retail Sales, Kiwi Still the Strongest
Dollar trades mildly higher in early US session after better than expected retail sales data, but upside moment is weak so far. Mild strength in US futures sends Swiss Franc and Yen slightly lower. Overall, New Zealand Dollar is set...
Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact
Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the recent startling inflation run to ease over time,. In a CNBC interview, the Cabinet official added that she worries about...
EUR/USD Pair Started A Decent Recovery Wave From 1.1780
The Euro found support near the 1.1775 zone after a steady decline against the US Dollar. The EUR/USD pair formed a base above 1.1780 and it started a decent recovery wave. It surpassed the 1.1800 resistance level, but it struggling...
GBPJPY Dips Back Below Ichimoku Cloud, Bearish Tone Persists
GBPJPY has been deteriorating for around a month-and-a-half now, logging lower highs and lows from its near 40-month peak of 156.06. The bullish charge in the 50- and 100-day simple moving averages (SMAs) is becoming slightly sluggish, with their slopes...
Oil Is Bearish As 280 Pips Have Been Secured
Oil has formed a 1-2-3 pattern and we might see further move down. I have secured 280 pips from my entry. Historical selling has been aligned with the now moment. 71.00 is major support now. If the price makes a...
EURUSD Close To Breakout
The euro currency remains depressed against the US dollar as the pair struggles to stage a meaningful rebound from the 1.1800 support level. At present levels the EURUSD pair is currently oncourse for its lowest weekly price close since late-March...
NZDUSD Bullish Above 0.7000
The New Zealand dollar is on the rise against the US dollar after the New Zealand inflation report came in much stronger than the market had been expecting. The four-hour time frame shows that the NZDUSD pair is trading inside...