USD/JPY Regains Momentum, Eyes More Upsides
Key Highlights USD/JPY started a fresh increase above the 134.00 resistance. It cleared a major bearish trend line at 134.10 on the 4-hours chart. EUR/USD is struggling below the 1.0200 resistance zone. GBP/USD extended decline and spiked below the 1.2020...
2022 Conservative Party Leadership Election: What’s at Stake for the GBP?
Truss is arguing for looser fiscal policy and tighter monetary policy, a policy stance that has historically supported strength in the underlying currency Earlier this week, we discussed the political backdrop, candidates, and expected policies for traders to watch around...
EURGBP Stays Stuck Between Two Diagonal Trendlines
EURGBP traded higher yesterday, after hitting support at the crossroads of the 0.8385 level and the tentative upside line drawn from the low of low of March 7. Nonetheless, the advance remained limited near the conversion point of all the...
Jobless claims edge lower as Fed looks to cool labor market
Initial filings for unemployment benefits declined slightly last week though they were consistent with a drift higher in layoffs that began in the spring, the Labor Department reported Thursday. Jobless claims totaled 250,000 for the week ended Aug. 13, down...
Dollar Rally Not Making Progress as Dull Trading Continues
The markets are generally rather quiet today, with major pairs and crosses trading inside yesterday’s range, as well as last week’s range. For now, Dollar is the strongest ones, followed by Sterling and then Euro. Australian and New Zealand Dollars...
The Pendulum Between Inflation and Growth Fears Swung from One Extreme to the Other
Markets Since the beginning of the year up until mid-June, investors turned a blind eye to growth risks, focusing solely on inflation developments and changing reaction functions of central banks (normalization/tightening). This resulted in an unseen core bond sell-off. Ever...
Retail sales little changed in July amid fall in gas prices and drop in auto sales
Retail activity was flat in July as falling fuel prices held back gas station sales and consumers turned more heavily to online shopping, the Census Bureau reported Wednesday. While advance retail sales were unchanged, total receipts excluding autos rose 0.4%....
UK Inflation Unexpectedly Reached Double Digits (First Time Since 1982) in July
Markets: A dramatic sell-off in core bonds marked today’s market action. A number of smaller events culminated an impressive move. Yesterday’s earnings by US retailers Wallmart and Home Depot set things in motion. They beat consensus, putting away most pessimistic...
Pound Yawns as UK Inflation Hits 10.1%
The British pound is almost unchanged today, trading just above the 1.21 level. UK inflation hits double-digits It hasn’t been a good week for the UK, with today’s inflation report following grim wage growth numbers. Headline inflation in July hit...
USD/JPY: Dollar Edges Higher But Still Holding Within a Triangle
The USDJPY regained traction on Tuesday and resumed the upleg from Aug 11 trough (131.73). Fresh bullish acceleration broke through important Fibo barrier at 133.83 (38.2% of 139.39/130.39) and pressuring the triangle resistance trendline (134.37). Break of these obstacles would...