Blogs

<p>France GDP dropped by -5.8% qoq in Q1, worse than expectation of -4.0% qoq. That;s also the largest contraction since record started in 1949. In particular, it’s bigger than the ones recorded in Q1 2009 (–1.6%) or in Q2 1968 (–5.3%). INSEE also noted that GDP’s negative evolution in Q1 2020 is primarily linked to […]

<p>Risk appetite recedes mildly today as European indices turn negative after initial gain, dragging US futures lower too. Euro is originally rather unmoved by ECB’s policy decision as well as press conference. But some weakness is seen at the time of writing. Traders seem to be betting more on Dollar’s recovery on stocks pull bac

<p>Daily Pivots: (S1) 0.8692; (P) 0.8724; (R1) 0.8753; More… EUR/GBP’s break of 0.8681 temporary low suggests that fall from 0.9499 has resumed. Intraday bias is back on the downside for 0.8276/82 key support zone. On the upside, above 0.8754 minor resistance will turn intraday bias neutral again. But further fall would remain in

<p>Daily Pivots: (S1) 0.6508; (P) 0.6532; (R1) 0.6577; More… A temporary top should be formed in AUD/USD at 0.6569, with today’s retreat. Intraday bias is turned neutral first. Another rise could still be seen as long as 0.6444 resistance turned support holds. Above 0.6569 will extend the rebound from 0.5506 to 0.6670 key resistan

<p>Executive Summary The Eurozone economy declined 3.8% quarter-over-quarter in the first quarter, matching expectations but still the largest quarterly decline on record, with sizable falls in French, Italian and Spanish GDP. April CPI inflation also slowed. The ECB eased liquidity policy at today’s meeting, and we currently expect the

<p>The serenity that has encompassed global markets lately will be put to the test next week, when America’s nonfarm payrolls data reveal how much destruction the pandemic has left in its wake. The Bank of England and the Reserve Bank of Australia are unlikely to deliver anything new at their meetings, though both will likely […]

<p>The US 30 stock index (cash) closed positive above the Ichimoku cloud on Wednesday, increasing speculation that the short-term uptrend could further strengthen. A bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA may add to the sentiment if it is finally completed. The fact that the price has yet to […]

<p>USDCHF had a bearish start on Thursday, dropping beneath the 23.6% Fibonacci retracement level of the upward wave from 0.9500 to 0.9800, at 0.9730, and the 20- and 40-period simple moving averages (SMAs). The pair has been in process to create an ascending triangle pattern over the last month with strong upper boundary the 0.9800 round num

<p>Personal income contracted by 2% m/m in March, and was weaker than market expectations (-1.5%). This was mainly due to a 2.8% decline in compensation as measures to contain COVID-19 resulted in millions of job losses. In real terms, income fell by 1.7% for the month. Spending fell considerably more than income, dropping by 7.5% […]

<p>The cross dipped to new seven-week low at 0.8675 on Thursday as sterling remains resilient and the Euro weighed down by weak EU/German data and ECB staying on hold and ready to act if needed. Fresh weakness is attempting to eventually break through three-week range floor (0.8680 zone) that would signal continuation of larger downtrend [&he