By Randolph Donney — Feb 08 - 01:55 PM
Tues's 130.37 post-NFP pullback low halved the prior 128.08-132.90 rally
Mon's 132.90 high's just shy of 23.6% Fibo, 55-DMA and cloud base by 133
Prices up modestly Wed with Fed speakers keeping hikes on the agenda
Fed's growing data dependence & full dot plot hike pricing reduce headroom
Clearing c133 hurdles might require higher-than-f/c CPI Tues nL1N34O1IR
F/c already is for higher M/M inflation, so downside miss is a bigger risk
BoJ leadership pick from PM could skew BoJ normalization expectations
PM Kishida's skills outline may favor former Dep Gov Nakaso nL4N34O0OC
If resistance by 133 is closed above, the 200-DMA at 136.87 is a prospect
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Source:
Refinitiv IFR Research/Market Commentary