Rudolph

GBP/USD GBPUSD fell further on Friday, holding in red for the third consecutive day, driven by stronger dollar and additionally pressured by unexpectedly weak UK Oct GDP numbers. Fresh weakness tested support at 1.2618 (last week’s low / 100WMA) and pressure nearby Fibo support at 1.2610 (61.8% retr

EUR/AUD rebounds from a low of 1.6361, trimming earlier losses. Technical outlook shows EUR/AUD consolidated within the 1.6350-1.6480 range amid mixed signals. Resistance ahead at 1.6500 and 1.6575; support positioned near 1.6400 with potential further dip towards 1.6375/59. The EUR/AUD trims some o

Once again, the Swiss National Bank decided to surprise the markets with a 50bp rate cut, compared with the expected 25bp cut. The SNB’s key rate is now 0.5%, compared with 1% previously. Inflation continues to decline and is approaching 0% The SNB justified this measure by the fact that inflationar

The US Dollar recovery stalls below 0.8850 ahead of the US inflation report. US CPI is expected to reflect steady price pressure that might force to scale back easing expectations for next year. The SNB is expected to cut rates by 25 basis points on Thursday. The US Dollar is trading higher for the

The US Dollar (USD) may rise further and break above 7.3000; the major resistance at 7.3115 is likely out of reach for now. In the longer run, rapid increase in momentum could lead to USD rising to 7.3115, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Rapid increase in momentum can le

Will the NFP data corroborate bets of a Fed pause? Loonie traders await employment numbers as well. Australia’s GDP to verify whether bets of May RBA cut are realistic. Euro could take directions from ECB President Lagarde. NFP and ISM PMIs to shape Fed expectations The US dollar took a breather thi

WTI may find support as traders assess reports that Israel and Hezbollah exchanged accusations of breaching the ceasefire agreement. Russian President Putin warned of a possible nuclear-capable ballistic missile strike on Ukraine. Traders seek clarity on the production strategy of the OPEC+ at the r

Summary After a jolt to consumer confidence in October, consumer moods continued to perk up in November. If history is any guide, confidence may receive a jolt in coming months now that the election is behind us. But just as the economy mattered more for consumers pre-election, the labor market and