Stocks and Dollars

As widely expected in the market the Reserve Bank of Australia (RBA) held rates steady today in a preemptive step for slowing growth as floods weigh negatively on growth keeping inflation check. RBA Governor Glenn Stevens and the board decided to keep the overnight cash target at 4.75% since they

Today’s UK manufacturing PMI will provide an early taster of how conditions in the sector are faring in Q1. Manufacturing has been a rare source of strength in recent months, with the headline PMI rising to a near 17-yr high of 58.3 in December. Aided by a healthy rise in

Much has been written over the last week on the Egypt situation and the potential consequences for that country, for the region and for the world. We, in this piece, will try to shed some light on the potential effects on the U.S. economy. However, before continuing with this it

Intraday bias in EUR/USD remains neutral for the moment as it’s still staying in range of 1.3570/3757. Some more consolidations could still be seen. Below 1.3570 will bring another fall but after all, we’d expect strong support above 1.3245 and bring rally resumption. As discussed before, whole decline from 1.4281

GBP/USD’s break of 1.6057 indicates that rise from 1.5343 has resumed. Intraday bias is back to the upside and further rise should be seen to retest 1.6298 high next. On the downside, below 1.6002 minor support will turn bias neutral and bring consolidations. But downside should be contained above 1.5750

Downside momentum in USD/CHF remains a bit unconvincing with 4 hours MACD staying above signal line. But after all, further decline is still in favor with 0.9520 support turned resistance intact. Current fall from 0.9782 is still in progress to 0.9300 low. Break there will bring down trend resumption towards

USD/JPY’s break of 81.84 today suggests that choppy fall from 83.67 has resumed. Intraday bias is back on the downside for a test on 80.93 support first. On the upside, above 82.24 minor resistance will turn intraday bias neutral and bring recovery. But break of 83.19 resistance is needed to