US Dollar Index Needs to Hold Above 104

AUDUSD is trading within a narrow range on Tuesday morning but keeps slight bullish bias following Monday’s 0.5% advance and a positive signal on daily close above 0.6597 (100DMA / Fibo 61.8% of 0.6675/0.6480 bear-leg). Aussie dollar was boosted by rise in iron ore, but markets are likely to reduce the speed until release of […]

In focus today In the US, the August CPI is due, where we forecast headline inflation to ease to 0.1% m/m SA (2.5% y/y), while core inflation is expected to remain steady at 0.2% m/m SA (3.2% y/y). We foresee a gradual moderation in housing and non-housing services inflation following a modest rebound in July, […]

EURJPY falls sharply but the 200-day SMA acts as a strong floor Repeated failure to violate the latter triggers an upward spike Momentum indicators improve, but remain in negative zones EURJPY had been experiencing a steep pullback from its recent 15-year peak of 164.28, which ceased at the crucial 200-day simple moving average (SMA). In today’s session, […]