GBPJPY Tackles 50.0% Fibonacci after Bouncing Off 100-MA
GBPJPY is confronting the 159.69 barrier, which is the 50.0% Fibonacci retracement level of the uptrend from 150.96 until the multi-year high of 168.42, which failed to close north of the 166.07-168.55 resistance zone that extends back to February 2016....
GBP/USD: Don’t Get too Comfy with Recent Gains
GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger...
Swiss Franc Staying as Winner, Yen Catching Up
Risk aversion is once again a clear main theme of the day, with European indexes in deep red while US futures point to extended selloff. Safe-haven flows are also pushing benchmark global yields lower, with Germany 10-year yield back at...
AUDUSD Bears Take a Breather after Almost 2-Year Low
AUDUSD could not find enough buyers to overcome the 0.7050 resistance level, with the spotlight remaining to the downside as the steep negative bias is still holding. Encouragingly, however, the RSI and the MACD continue to hold above their recent...
Swiss Franc Jumps on Risk Aversion, Dollar and Yen Lag Behind
Markets are back in risk-off mode as down dropped more than -1100 pts overnight. Dollar and Yen tried to rebound but there was no follow through buying. Indeed, both remain the worst performing ones for the week. Instead, safe-haven flow...
CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows
Corporate executives are taking a dim view of their prospects, with a majority now expecting a recession ahead, according to a closely watched business survey released Wednesday. The Conference Board measure of CEO sentiment showed that 57% of respondents expect...
UK Inflation Soars to 9%
Pound slides after CPI report The British pound has taken a tumble after April CPI jumped to 9.0% YoY, up sharply from 7.0% in March. GBP/USD has fallen 100 points today and is trading at 1.2390 in North American trade....
Households are now spending an estimated $5,000 a year on gasoline
A woman rides an electric bike past a gas station as current gasoline prices continues to climb close to record setting territory in Encinitas, California, May 9, 2022. Mike Blake | Reuters U.S. households are now spending the equivalent of...
Dollar Recovers in Tight Range, Sterling Down after CPI
Dollar and Yen are recovering mildly today but overall major pairs and crosses are stuck in very tight range. European majors are the weaker ones, with Sterling having a lower handle. Commodity currencies are mixed. Trading is also quiet in...
Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.