Euro Rises ahead of Tomorrow’s ECB, Yen Selloff Continues
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in...
Dollar and Euro Mixed, Yen and Swiss Franc Staying Pressured
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie...
Elliott Wave View: EURJPY Should Continue to Find Support
EURJPY shows an incomplete bullish sequence from March 2022 low favoring further upside. The 100% – 161.8% Fibonacci extension from March 2022 low can see pair reaching 148.3 – 158 level in the medium term. Short term Elliott Wave view...
US 100 Index Halts Decline But Retains Bearish Bias
The US 100 stock index (cash) has been experiencing a minor pullback after its advance failed to cross above the 12,940 region. Nevertheless, the ascending 50-period simple moving average (SMA) is closing the gap with the 200-period SMA, where a...
RBA Board Raises the Cash Rate by 50 Basis Points; Another 50 in July
We expect the Board will decide on another 50 basis point increase in July. By front loading the moves it can firmly establish its inflation fighting commitment. The cash rate is then likely to move in 25 basis point increments...
Stock futures are slightly lower on Monday
The major U.S. stock indexes rose modestly to begin the week as investors anticipate key inflation data due Friday.
GBP/USD: Cable Stands at the Front Foot on Monday Ahead of Key Event Today – Confidence Vote on PM Johnson
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 Prime Minister...
Stocks making the biggest moves in the premarket: Spirit Airlines, Didi Global, Keurig Dr Pepper and more
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit jumped 6.1% in the premarket after JetBlue (JBLU) sweetened its bid for Spirit. JetBlue will increase its breakup fee for the deal to...
June Flashlight for the FOMC Blackout Period
Summary We expect that the actual policy changes the FOMC announces on June 15 will be more or less inconsequential in terms of market reaction. That is, the Committee has clearly indicated that it plans to raise its target range...
New Beginning for the Canadian Dollar
Recently, the Bank of Canada hiked the interest rates by 50 basis points. It is now 1.5%, and it’s only the beginning. The policy rate may directly go to the top, or even above, what the Bank of Canada considers...