Sellers need validation from $101.00

WTI remains on the back foot around six-week low. Upward sloping trend line from mid-March challenges further downside. 100-DMA, previous support line late 2021 guard recovery moves. WTI crude oil prices keep the previous day’s downside break of the 100-DMA, despite bouncing off the three-month-old support line. That said, the black gold drops for the … Read more

China’s President Xi pledges to meet growth target

In a keynote speech to a virtual BRICS Business Forum on Wednesday, Chinese President Xi Jinping vowed to meet economic targets for the year despite the country battling with the covid outbreaks and a weak housing market. Key quotes China will “strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social … Read more

USD/CNH retreats from weekly high as sellers attack 6.7000 on mixed China inflation

USD/CNH snaps three-day uptrend following unimpressive China CPI, PPI. Shanghai and Beijing unveiled fresh activity restrictions after dialing back some a few days back, mass testing is on the way. Risk-off mood ahead of US inflation data challenge bears. USD/CNH pulls back from a weekly top, refreshing an intraday low around 6.6950, even as China’s … Read more

US inflation expectations stabilize around 2.75% ahead of US CPI

US inflation expectations, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, take round to the monthly high surrounding 2.76%, steady around 2.75% in the last two days by the end of Thursday’s North American session. Despite the steady inflation signals from the FRED data, markets fear a higher … Read more

3 Pharmaceutical Stocks to Protect your Portfolio: ABBV, BMY, MRK

While the S&P 500 has lost more than 13% of YTD, pharma stocks are up 6%. BMY, MRK and ABBV have all beaten the pharma index YTD. All three pharmaceutical stocks are relatively cheap and sport sizable dividends. All the top most-favored growth stocks of the last two years have been humbled in 2022. Since … Read more

NZD/USD bulls attack 0.6550 even as RBNZ’s Convay sounds cautious

NZD/USD picks up bids to refresh daily tops, higher edges around monthly top. RBNZ’s Convay sees softer inflation in H2 2022, shows readiness to pull back the rates if needed. US dollar pause previous south-run around monthly low as market sentiment dwindles amid US bank holiday, light calendar. NZD/USD remains on the front foot near … Read more

AUD/USD prints three-day downtrend below 0.7100 on mixed mood, softer Aussie Capex, US GDP eyed

AUD/USD stays around intraday low, down for the third consecutive day after challenging three-week high. Recent headlines from China, Ukraine join downbeat Australia Private Capital Expenditure for Q1 to weigh on prices. FOMC minutes, light calendar and off in Europe put a floor under the prices. AUD/USD struggles to rebound from intraday low, down for … Read more