Author: FX
The GBP/JPY ended Tuesday’s session unchanged at 215.17 as buyers remained reluctant to test the 50-day Simple Moving Average (SMA) at 215.43, seen as the first resistance level on its way to re-test yearly peaked at around 219.61.GBP/JPY Price Forcast: Technical outlookPrice action suggests the GBP/JPY is facing key resistance that could cap the advance, which could open the door for sideways trading. Further confirmation of this, is the Relative Strength Index (RSI): The RSI shifted flat exactly at the 50-neutral level, an indication that neither buyers nor sellers are fully committed to push the cross above or below familiar…
GBP/NZD is showing early signs of stabilization after its sharp July pullback, with the latest downswing forming a higher swing low and price beginning to recover. Momentum is also improving as the MACD line crosses above the signal line, suggesting selling pressure may be starting to fade. The key question now is whether buyers can build on this shift and extend the rebound, or whether the recovery will lose momentum and leave the pair vulnerable to another move lower. Welcome to “TA Alert of the Day.” Each day after the market close, MarketMilk scans for popular technical indicator alerts. We…
USDCHF buyers trying to take control again as the ups and downs continue for the pair !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Standard Chartered’s Nicholas Chia reports that the Reserve Bank of Australia (RBA) kept the cash rate at 4.35% in a unanimous decision, as widely expected. Chia notes the RBA sees inflation returning to the midpoint of its 2–3% target only by late 2027. While the base case is for no further hikes, the risk is skewed to another increase in Q4 if demand and energy prices remain problematic.RBA holds but keeps hike option”The RBA held the cash rate at 4.35%, as we and the market had expected, in a unanimous decision (see RBA – Holding its nerve). The RBA reiterated…
Prior was 4.09m (revised to 4.13m)Sales -1.7% vs -2.4% prior (revised to -1.4%)Home prices +2.0% y/yMedian price $434,100Inventory at 4.6 months vs 4.6 months priorThe housing market is in a steady state that isn’t helped by high mortgage rates due to rising Treasury yields. There is some steady growth in that chart but when you discount it against CPI, there is a slight-but-steady improvement in affordability. The key question next is what will happen to borrowing rates from here. There is also — in some sense — a ticking time bomb in the US housing market as construction hasn’t kept…
Rabobank’s Senior FX Strategist Jane Foley examines Japanese inflation dynamics and Bank of Japan policy. The report notes elevated Oil prices and supply risks, but stresses BoJ’s focus on core inflation and wage-driven pressures after decades of deflation. It highlights BoJ’s warning that core CPI could exceed 2%, raising prospects of a rate hike around September or October.Core CPI, wage growth and BoJ outlook”While a loosening in the labour market reduces the chances of second order price effects, elevated oil prices may still push various G10 central banks into more hawkish policy positions this year. Not only does the continued…
July CPI could reset Fed expectations, with monthly core inflation and shelter likely deciding whether the dollar gets its jolt. Source link
UK stats office to only decide in July next year on plausibility of transition to improved labour market data !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Dow Jones futures decline by 0.11% to trade around 54,000 during European hours on Tuesday. Meanwhile, S&P 500 futures are steady around 7,770 and Nasdaq 100 futures gain 0.12%, trading near 29,770.US stock futures are mixed as traders adopt a cautious stance amid escalating geopolitical tensions. Rising concerns over potential oil supply disruptions have fueled inflation fears, leading to growing speculation that the Federal Reserve (Fed) may feel compelled to raise interest rates sooner than expected, even against the backdrop of a cooling labor market. According to the CME FedWatch Tool, the market-implied odds of a 25-basis-point rate hike in…
Heads up: RBA monetary policy decision at the bottom of the hour !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link