AUDUSD broke below the lower border of the rising price channel on 4-hour chart, suggesting that consolidation of uptrend is underway. Sideways...
AUDUSD broke below price channel
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ECB and IMF now join in the chorus
Last week it was Angela Merkel and Ben Bernanke warning of the dangers of persistently low rates and easy monetary policy. Now the ECB is plotting it’s ‘exit’ strategy and the IMF sees a global economy turnaround later this year. 2-year Treasury yields have roared higher and the...
Fed’s Fisher declares victory
Dallas Fed president Richard Fisher, perhaps the most hawkish member of the Fed, says the it has succeeded in pulling the economy back from the brink. The Fed is seeing results in the credit markets and that the banks are becoming less dependent on the Fed. Consumer confidence is recovering and...
French industry output data much worse than expected
French April industry output fell a hefty -1.4% m/m, much worse than expected, versus median forecast of -0.2%. Data has dented risk appetite a little, with EUR/USD falling back below 1.4100 to 1.4085 at writing. Cable is back below 1.6400 at...
German April trade weaker than expected
German April trade surplus s.a came in at 9.0 bln euros compared to 8.9 bln in March, below the market median of 9.4 bln. The current account surplus came in at 5.8 bln, some way below the median forecast of 10.0 bln euros. EUR/USD having rallied in early European trade has slipped back slightly,...
USD/JPY: Decent sized buying interest 97.00/25
The JPY crosses are proving to be very stable at lofty levels with GBP/JPY now consolidating well above 160 and AUD/JPY trying to form a foothold above 80. The USD bears are being cancelled out by the JPY bears which should mean that USD/JPY continues to range trade both in the short and medium...