Tag: tickmill
USD Still LifelessThe US Dollar remains largely subdued today despite a broadly hawkish set of comments from Fed chairman Powell yesterday. Powell was testifying at the senate confirmation hearing for his Fed chairman re-nomination yesterday and provided plenty of insight into the Fed’s outlook and policy plans for the year ahead. On the back of […]
Type: Bearish ReversalKey Levels:Resistance: 1.14633Pivot: 1.13852Support: 1.1233Preferred Case:On the H4, price is reacting below our pivot level at 1.13852 which is in line with horizontal swing high resistance, 50.0% Fibonacci retracement level. We are biased that price will potentially drop to 1st support at 1.1233, which is in line with horizontal swing low support. This […]
Powell’s speech disappointed proponents of the idea that the Fed is in a hurry to normalize policy with the pace priced in by market expectations, which were shaped after the release of the minutes of the December FOMC meeting. Despite assurances that the Fed will not allow high inflation to take root in consumers expectations, […]
US CPI In FocusThe main data focus today, and for the week as a whole, is the December US CPI reading. Given the high level of hawkish Fed expectations the market will be looking to today’s data to essentially confirm a March rate hike. While the December jobs number was weaker than expected, bulls are […]
Type: Bearish ReversalKey Levels:Resistance: 158.75Pivot: 158.107Support: 155.964Preferred Case:Prices are at a daily Pivot. We see the potential for a pullback from our sell entry at 158.107 in line with 100% Fibonacci extension and 100% Fibonacci retracement towards our 1st support at 155.964 in line with 23.6% Fibonacci retracement. RSI is on bearish momentum.Alternative Scenario:Alternatively prices […]
Type: Bearish ReversalKey Levels:Resistance: 115.678Pivot: 115.52Support: 115.019Preference:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 115.52 in line with 38.2% Fibonacci retracement towards our 1st support at 115.019 in line with 78.6% Fibonacci extension, 38.2% Fibonacci retracement and 127.2% Fibonacci extension. Our […]
CitiEuropean OpenThe US CPI ahead seems to be reducing risk appetite in a dull session, with DXY flat and treasuries firmer in a tight range. Chinese CPI and PPI missed in today’s print, while USDCNH dipped on the announcement, on the back of a return in spot selling interest. Comments from BoJ’s Kuroda did not […]
Daily Market Outlook, January 12, 2022 Overnight Headlines White House Braces For Another Brutal US Inflation Report Pres Biden Urges Congress To Pass Voting Rights Legislation Sen Toomey Warn On Possible Raskin Pick As Fed Regulator China Inflation Fuels Rate-Cut Calls As World Set To Tighten BoJ Kuroda: Inflation Set To Gradually Accelerate On Energy […]
Credit AgricoleAsia overnight Investors remain nervous ahead of the US inflation data later this week. Sentiment is being supported a little by news that Pfizer could have an omicron-variant[1]specific vaccine for Covid by March. A potential peak in omicron infections in New York is also helping support sentiment as the peak would be about a […]
Daily Market Outlook, January 11, 2022 Overnight Headlines Four Fed Hikes May Be Just Start As Traders Boost Rate Bets Fed Powell Vow To Prevent Inflation Becoming ‘Entrenched’ Fed Clarida Resigns Two Weeks Early In Trading Controversy US, Russia Talks Yields Modest Progress Amid Ukraine Crisis Nord Stream 2 Sanctions Get Senate Vote As US, […]
