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Forex

Dollar Dips on PPI, Supported by Fed Powell

Dollar stays generally soft today so far but weakness is relatively limited. Some selling pressure was seen as poor PPI inflation data. But Fed chair Jerome Powell’s comments on negative interest rates is giving the greenback a slight pop. For now, New Zealand Dollar remains the worst performing one for today after RBNZ’s QE expansion. […]
Forex

NIESR: UK economy to contract -25% to -30% in Q2

NIESR projects that UK economy to contract by -25% to -30% in Q2. “In a period of radical uncertainty, the short-term economic impact of Covid-19 is becoming clearer with the publication of GDP data for March, where output is expected to be lower by about 25 per cent in months when the lockdown is in […]
Forex

EUR/GBP Mid-Day Outlook

Daily Pivots: (S1) 0.8790; (P) 0.8820; (R1) 0.8882; More… EUR/GBP’s break of 0.8863 resistance indicates short term bottoming at 0.8670. Intraday bias is turned back to the upside for 38.2% retracement of 0.9499 to 0.8670 at 0.8987. Fall from 0.9499 is seen as a corrective move only, which couldn’t sustain below 55 day EMA so […]
Forex

GBPJPY Stops at 38.2% Fibonacci; More Losses are Expected

GBPJPY has come under renewed selling pressure, falling back below its 20- and 40-period simple moving average (SMA), but remaining slightly above the 38.2% Fibonacci retracement level of the up leg from 124.00 to 135.70 at 131.24. Looking at momentum oscillators on the 4-hour chart though, they suggest further declines may be on the cards. […]
Forex

US CPI slowed to 0.3%, core CPI dropped to 1.4%

US CPI dropped -0.8% mom in April, versus expectation of -0.7% mom. That’s the largest monthly decline since December 2008. Core CPI dropped -0.4% mom versus expectation of -0.2%. That’s also the largest monthly decline since record started in 1957. Annually, CPI slowed to 0.3% yoy, down from 1.5% yoy, missed expectation of 0.8% yoy. […]