China Caixin PMI Services dropped from 51.4 to 50.2 in February. PMI Composite was unchanged at 50.1. Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, the manufacturing PMI rose in February, while the Read more…
BoJ board member Junko Nakagawa said “for the time being, inflationary pressure will remain strong, mainly for energy, food and industrial goods.” Core consumer prices may “briefly rise close to 2%.” However, “even if that Read more…
BoE Deputy Governor Jon Cunliffe said yesterday, “the events of the last few days have led to an abrupt shift in our expectations of the future and an increase in uncertainty.” “The heightened perception of Read more…
Referring to Russia invasion of Ukraine, BoE MPC member Silvana Tenreyro said yesterday, “recent developments will intensify the terms of trade shock that we were already experiencing, so will push up inflation and have a Read more…
Key Highlights Gold price rallied above the $1,920 and $1,950 resistance levels. A major bullish trend line is forming with support near $1,905 on the 4-hours chart. EUR/USD extended decline below 1.1120, and GBP/USD retested Read more…
Short Term Elliott Wave View in SPX suggests the decline from January 4, 2022 high is unfolding as a double three Elliott Wave structure. Down from January 4 high, wave w ended at 4222.62 and Read more…
Or is it due a correction? It’s been a very volatile start to 2022 and risk aversion has certainly picked up in recent weeks following the Russian invasion of Ukraine. The shift to safe havens Read more…
The Fed Chair told the House Financial Services Committee overnight he is on board with a 25 bps hike in two weeks. Wednesday US cash market close: The Dow Jones Industrial rose 596.4 points (1.79%) Read more…
A war nearly 5,000 miles from Washington DC with minimal direct economic implications on the US will not deter the Fed from raising interest rates this month… Amidst all the focus on the escalating war Read more…
The Bank of Canada raised rates for the first time since October 2018 by 25bps to 0.50%. This is in-line with most economists’ expectations; however, many market participants were hoping for a 50bps increase. The Read more…