Wed, May 27, 2020 @ 05:31 GMT
German Gfk consumer sentiment for June rose to -18.9, up from -23.1. Economic expectations improved to -10.4, up from -21.4. Income expectations rose to -5.7, up from -19.3. "The gradual opening of many businesses has certainly contributed to the propensity...
GBPUSD is currently up against the 50-day simple moving average (SMA) after pushing back over the 1.2213 level, that being the 38.2% Fibonacci retracement of the down leg from 1.3514 to 1.1410. Looking at the short-term oscillators, they too reflect...
EURJPY refused to return to the 117.00 area, reversing up instead to recoup the lost ground from the 118.50 peak on Tuesday. Technically, the short-term risk is currently looking positive as the price is trading above its 20- and 50-day...
WTI crude oil futures are coming close to break the ten-week high of 34.63, surpassing the 20- and 40-period simple moving averages (SMAs). The short-term upside tendency has begun from April 28 and is support by an ascending trend line...
Yesterday, Bank of France governor Francois Villeroy de Galhau said the European Central Bank 'will probably need to go even further', as it has room to act. On the other hand, the German IFO Business Climate Index climbed to...
Asian markets strengthen generally as investors put Hong Kong tensions behind for the moment. Sentiments are also somewhat lifted as PBoC pledged to continue with targeted easing measures. Commodity currencies are generally higher as led by New Zealand Dollar...
After a heavy schedule of national holidays around the world yesterday, a sense of normality returns to financial markets today. After quiet, but positive sessions for equities in Europe and Canada, Asian markets have started the morning on a...
PBoC Governor Yi Gang said the Chinese central back will continue with the current targeted easing, even though domestic economy is improving. The targeted measures will ensure sufficient liquidity, lower borrowing costs and provided cheap credits. The measures have...
Key Highlights GBP/USD failed to clear the 1.2300 resistance and started a downside correction. A key bearish trend line is forming with resistance near 1.2210 on the 4-hours chart. A successful break above 1.2250 might open the doors for...
As we discussed in this week’s “Week Ahead”, tensions are heating up between China and the US. Last week, the US Senate passed a bill to increase oversight of Chinese companies operating within the US, including the highly publicized,...
In the Semiannual Report on Currency and Monetary Control, BoJ Governor Haruhiko Kuroda said the "powerful monetary easing measures" will support economic and financial activities, together with the government's coronavirus measures. He also reiterated the pledge to monitor the...
BoC Governor Stephen Poloz delivered his final speech yesterday, before stepping down next week. He noted that the "dominant concerns" for the coronavirus crisis response was "was with the downside risk and the possibility that deflation could emerge." "Deflation interacts...
ECB Governor Council member Francois Villeroy de Galhau hinted that the central bank might boost the EUR 750B Pandemic Emergency Purchase Program ahead. "It is in the name of our mandate that we will very probably need to go...
Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper boundary the 1.6895 resistance and lower boundary the 1.6610 support level. The pair is capped...
The markets remain generally steady today, with UK and US markets on holiday. Sterling is mildly higher, followed by commodity currencies. On the other hand, Yen, Dollar and Euro are the relatively weaker ones. But after all, major pairs...
AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615. The correction from the 17½-year low of 0.5506 also seems to have gradually slowed from...
The Euro rose to 1.09 handle on Monday, inflated by better than expected German Ifo data (May 79.5 vs 74.2 previous and 78.3 f/c). German business morale improved in May as pandemic restriction eased, signaling the economy takes recovery path...
EURUSD was again unable to close above the 1.0980 hurdle last week despite touching the 200-day simple average (SMA), with the price pulling back into the 1.0800 territory on Monday. The price is now located in the crossroads of the...
Germany ifo Business Climate recovered to 79.5 in May, up from 74.2, slightly above expectation of 78.8. Expectations gauge also jumped to 80.1, up from 69.4, beat expectation of 75.0. But Current Assessment gauge dropped to 78.9, down from...
Germany's GDP contraction was finalized at -2.2% qoq in Q1, unrevised from initial estimate. That was the largest decline since the global financial and economic crisis of 2008/2009. It's also the second worst since reunification. Looking at some details, consumption...
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