Weekly Economic & Financial Commentary: The Fed Still Has More Work to Do
Summary United States: Expansion Not Yet Heading to the Gallows An increase in real retail sales by our estimates and a rebound in industrial production in July offered evidence beyond recent jobs data that the U.S. economy is not yet...
GBP/USD: Bears Accelerate Towards 2022 Low, On Track for the Biggest Weekly Fall in Nearly Two Years
Cable extends sharp fall after eventual break of pivotal 1.20 support, pressured by growing concerns about inflation-growth puzzle which boosts fears that the economy is heading into recession and fresh hawkish comments from Fed policymakers. Soured sentiment adds to bearish...
Dollar Returns to Growth after a Summer Respite
The US dollar has quite expectedly accelerated its rise. EURUSD is trading less than 50 pips from parity, which it managed to defend in mid-July, having retreated from 20-year lows. GBPUSD has also quickly returned to July lows, losing more...
EUR/USD Started a Fresh Decline from $1.0180
The Euro started a fresh decline from well above the 1.0180 level against the US Dollar. The EUR/USD pair traded below the 1.0150 support zone to move into a bearish zone. There was a move below a connecting bullish trend...
Dollar Continues Strong Rally, Swiss Franc Catching Up
Dollar rally continues today and it’s set to end the week on a high note. Risk aversion and rising benchmark yield are both helping the greenback. Swiss Franc is also strengthening a lot. Selling focuses are mainly concentrated on Sterling,...
EURAUD Hovers Near a Key Support Zone
EURAUD came under selling interest yesterday, after hitting resistance at the 200 – period exponential moving average (EMA), fractionally above the 1.4705 barrier, and slightly below the downside line drawn from the July 11 high. Although this keeps the prevailing...
USDCHF Needs Boost from Buyers to Switch the Outlook to Bullish
USDCHF is in the process to post the fifth straight day of gains, following the pullback off the 0.9367 support level. The pair jumped above the 200-day simple moving average (SMA) again and is trying to have a closing day...
XAU/USD: Impulse Structure Hints at Higher Levels
The internal XAUUSD structure suggests a global correction pattern, which takes the form of a cycle triple zigzag. On the current chart, we see the structure of the bearish cycle intervening wave x, which looks completed in the form of...
Dollar Buying Picks Up Momentum, Other Currencies Mixed
Dollar’s rally has finally made some progress overnight and the momentum continues in Asian session. Other currencies are mixed for now with no clear loser. For the week, Aussie and Kiwi are on the weaker side while Euro and Canadian...
Hawkish FOMC comments and Norges Bank hike
Market movers today It will be a very quiet day on the data front today with only UK retail sales and German PPI of interest. The 60 second overview Norway: Norges Bank (NB) goes ‘front-loaded’ and hiked rates by 50bp....