US Dollar Price Action Setups: EUR/USD, USD/JPY Breakdowns
The US Dollar has set a fresh 19-year high, helped along by another breakdown in EUR/USD. USD/JPY also turned and that remains of interest.
EUR/USD Technical Analysis: Quickly Melting to the 2016 Low
The EUR/USD is dropping rapidly towards the 2016 low; will it be enough to put in some type of bottom, though?
Crude Oil Lifted as US CPI Remains Stubbornly High and Risk Aversion Hits Equities
Crude oil holds up despite the recent turmoil permeating other markets and a stubbornly high US CPI. Will WTI see a volatility break out?
Chile Interest Rate seen Rising to 9 in June, Analyst Poll
SANTIAGO, May 10 Reuters Chile is expected to hike its benchmark interest rate to 9 in June, a central bank poll of analysts suggested on Tuesday, as the world39;s top copper producer battles to rein in high inflation. The Andean country39;s central bank raised the benchmark rate to 8.25 in May from 7.0 previously. The […]
US Inflation has Brought Back Demand for the Dollar
The dollar got a fresh boost, with stocks coming under renewed pressure after a new batch of US inflation data. The US consumer price index rose 0.3 in April after 1.2 a month earlier. The annual inflation rate slowed from 8.5 to 8.3 but was higher than the expected 8.1 yy. Particularly worrying for markets […]
Australia Consumer Sentiment Dives as Rates, Inflation Rise
SYDNEY, May 11 Reuters A measure of Australian consumer sentiment slid for a sixth straight month to a 21month low in May as surging inflation and rising interest rates weighed on family finances and spending intentions. The WestpacMelbourne Institute index of consumer sentiment released on Wednesday sank 5.6 in May from April, when it fell […]
Japans Economy to Suffer Q1 Slump on Lower Consumption
TOKYO, May 11 Reuters Japan39;s economy likely contracted in the first three months of this year as the lingering fallout from the COVID19 pandemic took a toll on consumption and exports, a Reuters poll showed. The weak reading will underscore the challenge policymakers face in pulling the world39;s thirdlargest economy sustainably out of the pandemicinduced […]
Oil – US Crude IG Client Sentiment: Our data shows traders are now net-short Oil – US Crude for the first time since Mar 31, 2022 when Oil – US Crude traded near 99.36.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bullish contrarian trading bias.
Euro Technical Outlook – EUR/USD Stalls at Prior Low. Will Bearish Momentum Resume?
The Euro has been trading sideways to the US Dollar as bearish momentum appears to have taken a breather. What will trigger momentum to build again for EUR/USD?
Oil Rises as Russia Gas Flow to Europe Falls
Crude rallies after nearly 10 slide over two days Hungary digs heels in over EU embargo on Russian oil Ukraine halts some Russian gas flows Coming up EIA supply report, 1430 GMT LONDON, May 11 Reuters Oil rose on Wednesday after plunging nearly 10 in the last two sessions, buoyed by supply concerns as flows […]