By Andrew M Spencer — Dec 05 - 10:20 PM
+0.15% with risk appetite better bid in Asia, =USD -0.1%, E-mini S&P +0.2%
Trades towards the top of a 1.2189-1.2220 range - moderate flow on D3
UK consumer spending fails to keep pace with inflation nL8N32V4GJ
No surprise on spending with current wage rises way behind inflation
Charts; flat daily momentum studies, 5, 10 & 21 day moving averages climb
21 day Bollinger bands rise - positive setup while 1.1933 21 DMA holds
Next target for the uptrend is 1.2441, 61.8% of the 2022 fall
1.2116 10 DMA, a base on the close for this move, is key support
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary