We may be seeing the end of the first up leg of the halving dividend for bitcoin. Absent any fresh catalyst to push crypto currencies higher we may fail to see a new high. We have little fresh catalyst to move crypto with most of the events that could be hyped already past. The only…
There has been limited news out of Japan of late with much of the recent swings for USDJPY more about whats happening in the US and consequently the dollar. The latest plunge of the pair has been on weak US economic data of late yet these numbers are not actually enough to convince the Fed…
We have little in the way of a catalyst for oil at the moment with no actual rate cuts happening to potentially spur demand. Though supply side news if more of a curiosity as Russia latest oil find in the Antarctic is not something that could easily be developed. Though overall if things were to…
The British Pound saw a brief peak above 1.27094 against the Dollar before spending the rest of Monday in its earlier consolidation zone. We have little to watch out for as potential catalyst to drive Cable with mostly jaw boning from FOMC members and the BoE’s Andrew Bailey at 1700GMT. Next key data for the…
Euro has been indecisive against the dollar following its bullish breakout Wednesday on poor US data and easing inflation concerns. With Germany and France on a Holiday for Pentecost Monday trading was mostly muted at the start of the week giving us a lower high. Ahead we continue to see a clear calendar data wise…
We appear to be in the process of getting a halving dividend for bitcoin as prospects of an easing in the US is fueling speculation of more entrants to the crypto sphere. This said any actual action from the Fed would not be until June 12 and even then we do not really expect a…
Aussy’s rally Wednesday has taken us through a resistance zone built over the course of the year. The idea seems to be that interest rate differentials between Australia and the US is set to contract soon following weak US economic data and moderate inflation. Note that this gap in interest rates following the previous aggressive…
Much like many other asset classes Gold managed to rally on weak US numbers suggesting a possible rethink of US monetary policy in the June meeting. Prices however failed to see a follow through pulling back Thursday as it approached the daily consolidation ceiling. Note market has bought Gold to historic highs of geopolitical issues…
The relative size of yesterday’s candle underscores the potential creation of a gap on policy rates between the US and New Zealand. The flat retail sales creates pressure for the Fed to consider easing sooner, note though that while the monthly CPI was less than forecast at 0.3% annualized numbers were inline with the consensus…
The initial response by oil to weak US economic numbers was to ease, a weaker economy in its biggest user means weaker demand at a time when top oil importer China has been reducing its purchase of middle east oil. From the supply side the US Energy Information Administration reported that strategic reserves dropped more…