Despite a repeat of Tuesday’s diverging policy direction talk, Cable managed to see firmer ground Wednesday following the release of the UK’s latest inflation report. Annualized CPI turned out at 3.2% against a 3.1% consensus forecast contrasting with BoE Governor Andrew Bailey’s forecast of a ‘sharp drop’ in the coming months. Resistance Support Daily charts…
EURUSD bears appear to be losing momentum absent any fresh catalyst for pushing their agenda. With Tuesday’s high wave spinning top risks going forward is for prices to consolidate until the next big news to rock market sentiment. Calendar wise there is little to potentially move the market though geopolitics remains something to be alert…
Gold’s rally since February has largely been fueled by a combination of safe haven plays and talk of Central Bank demand as inflation expectations pointed to an upcoming easing. Two months later we see the yellow metal at historic highs though unable to hold Friday’s pop higher for a long wick in daily charts. Resistance…
Bitcoin remains our favored none correlated asset for the moment shrugging off the geopolitics that has dominated other asset classes. For now the dominant theme in the Crypto world is Bitcoin Halving where mining rewards for the crypto currency will be halved opening the potential for inflation at a time when the asset class is…
Surprisingly Oil prices Friday settled right where it opened after a brief peek above 91.51, six months high, over the Iranian threat of an attack on Israel, later “Operation True Promise”. We note that oil has largely been buoyed by global conflicts and attempts to constrain supply by OPEC, even as demand remains tepid amidst…
EURUSD saw a follow drop to its sell-off from Wednesday courtesy of a looming threat of airstrikes from Iran on Israel. The Iranian regime subsequently launched 200 missiles and drones towards Israel after giving notice and now considers the matter close. This puts the bag in Israel’s hands will it conduct a retaliation in turn…