Core PCE Levels Off, But the ECI May Have the Fed More Concerned
The US released what is considered to be the Fed’s favorite measure of inflation on Friday, the Core PCE Price Index. The March print was 5.2% YoY vs 5.3% YoY expected and 5.3% YoY in February. The headline PCE Price...
US Oil Bounces Off Support
WTI crude found support from a lower-than-expected increase in stockpiles. The price has held well around 94.00 at the base of the flag consolidation from the daily chart. The uptrend is still intact and the bulls may see the pattern...
Euro Falls to the Lowest in Five Years Following Break of 2020 Low
The Euro surged through key support at 1.0635 (2020 low) on Wednesday, extending steep fall into fifth straight day and hitting levels last traded in March 2017, after triggering stops parked below. The single currency is pressured by risk aversion...
DXY Continues to Surge; EUR/USD Lower
The US Dollar Index has broken above the top trendline of the upward sloping channel and is gunning for the March 2020 highs DXY began moving higher in May 2021 as the Fed hinted that it may be ready to...
GBPUSD: Cable Extends Steep Fall as Exodus into Safety Accelerates
Cable falls further in early Monday, hitting the lowest since Sep 2020, extending Friday’s 1.5% drop (the biggest daily fall since 18 Mar 2020) and last week’s 1.64% loss (the biggest weekly fall since mid-Aug 2021). Bears gained pace after...
WTI Oil: Oil price eases on growth concerns and China lockdowns but still lacking clear direction
WTI oil edges lower on Friday, pressured by prospects of weaker global growth and higher interest rates, as the International Monetary Fund cut its global economic growth forecast and Fed Chair Powell signaled that half percentage point rate increase will...
USDCAD Wave Analysis
USDCAD reversed from support level 1.2450 Likely to rise to resistance level 1.2650 USDCAD recently reversed up sharply from the powerful support level 1.2450 (which has been repeatedly reversing the price from the middle of January). The upward reversal from...
BTCUSD Extends Sideways Move but Downside Risks Linger
BTCUSD (Bitcoin) has been trending downwards since late March when further price advances got curbed at the 48,000 region. Although the price has managed to halt its decline and is currently experiencing a consolidation phase, the technical picture seems to be deteriorating for the cryptocurrency. The...
EUR/USD Resumes Weakness after Hawkish Powell’s Comments
The risk-off is in full swing following FOMC Jerome Powell speech, who mentioned that they are planning to get interest rates “expeditiously” to neutral. Powell acknowledged that 50 basis points rate hikes will be on the table at the upcoming...
Oil Price Declined Below $100 to Move into a Bearish Zone
Crude oil price started a downward move from well above the $108 level against the US Dollar. The price declined below the $100 level to move into a short-term bearish zone. A low was formed near $98.77 before there was...