By Andrew M Spencer — Jan 24 - 06:50 PM
-0.15% with risk appetite as E-mini S&P futures trade down 0.4% early
Inflation data is key upcoming event risk - headline poll 1.6 q/q, 7.5% y/y
Trimmed mean is RBAs preferred measure - poll 1.5% q/q, 6.5% y/y
Data to drive RBA expectations - RBAWATCH prices a 25pt 3.35% hike at 58.33%
Charts; momentum studies and 21 day Bollinger bands head higher
5, 10 & 21 day moving averages climb - positive trending setup
Targets a test of major resistance at 0.7091, 61.8% of the 2022 fall
Sustained break of 0.6897 21 day moving average base would end topside bias
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary