It is widely regarded as a ‘sealed deal’ that the US Federal Reserve (Fed) will maintain the current target rate at 4.25% - 4.50% today, marking a fourth consecutive meeting on hold. This is likely to displease US President Donald Trump, who has repeatedly called for rate cuts, recently referring to the Fed Chairman Jerome Powell as ‘stupid’.
Despite Trump’s...
the European Central Bank (ECB) will be in focus today at 12:15 pm GMT and is anticipated to reduce rates amid recent CPI inflation (Consumer Price Index) softening by more-than-expected in May to 1.9% at the headline year-on-year (YY) level from 2.2% in April. YY core inflation – a measure that excludes volatile energy, food, alcohol, and tobacco prices – also...
C$1.3945 was made short work of in April and retested as resistance in May, following a fourth consecutive month in the red. Technically speaking, the scope to explore deeper water is evident on the monthly scale until C$1.3534, followed by another layer of support from C$1.3242.
In view of this, as well as the lack of bullish intent evident from trendline...
There is no denying that Europe’s shared currency (EUR) is having a strong year against the US dollar (USD) so far, with the EUR/USD pair rising by almost 10%.
Monthly support in play
In one fell swoop, April’s price action made short work of the 50-month simple moving average (SMA) at US$1.0904 and the monthly resistance at US$1.1134. This prompted the unit...
Following the EUR/USD (euro versus the US dollar) trading within striking distance of a head and shoulders top pattern’s profit objective at US$1.1049, bulls went on the offensive. Consequently, price has pencilled in an AB=CD bearish formation at US$1.1332, according to the 100% projection ratio and a 1.618% Fibonacci extension ratio of US$1.1353 (B-C...
April retail sales data is scheduled to be released at 12:30 pm GMT tomorrow and will be a closely watched report as investors seek signs of any impact derived from tariffs, as well as potential future rate cuts by the US Federal Reserve (Fed).
According to LSEG Data and Analytics, economists expect retail sales to have stagnated, following a 1.5% gain in March –...
