France PMI Manufacturing improved from 47.2 to 49.1 in November. But PMI Services dropped from 51.7 to 49.4, a 20-month low. PMI Composite dropped from 50.2 to 48.8, a 21-month low. Joe Hayes, Senior Economist Read more…
Markets Risk-on held the upper hand during an initially choppy trading session yesterday. Stocks finished 0.5-1.4% higher in Europe and the US despite the grim economic picture painted by the OECD. Core bonds gained ground Read more…
Short term Elliott Wave View in Silver (XAGUSD) suggests cycle from 7.14.2022 low completed as a flat structure. Up from 7.14.2022 low, wave A ended at 20.86 and pullback in wave B ended at 18.07 as Read more…
The OECD said the global economy will avoid a recession this year, and next year, and that unemployment rates won’t skyrocket. That was the good news. But growth will be low and slow, and inflation Read more…
Market movers today The most important data releases today will be the November Flash PMIs from the euro area, UK and US. We expect the figures to provide further evidence of GDP contraction in the Read more…
Daily Pivots: (S1) 167.34; (P) 167.83; (R1) 168.30; More… Intraday bias in GBP/JPY stays mildly on the upside as rebound from 163.02 is still in progress. Correction from 172.11 might have completed at 163.20, after Read more…
Daily Pivots: (S1) 145.02; (P) 145.37; (R1) 145.83; More…. As EUR/JPY’s recovery from 142.54 extends, focus is back on 147.09 minor resistance. As noted before, correction from 148.38 might have completed at 142.54. Break of Read more…
Daily Pivots: (S1) 0.8640; (P) 0.8661; (R1) 0.8691; More… EUR/GBP lost downside momentum well ahead of 0.8570 support, as seen in 4 hour MACD. Intraday bias is turned neutral again first. On the downside, firm Read more…
Daily Pivots: (S1) 1.5453; (P) 1.5489; (R1) 1.5536; More… EUR/AUD’s corrective pattern from 1.5704 is still extending and intraday bias remains neutral. In case of another fall, downside should be contained by 55 day EMA Read more…
Daily Pivots: (S1) 0.9770; (P) 0.9802; (R1) 0.9839; More…. Intraday bias in EUR/CHF stays neutral first as choppy sideway trading continues. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 Read more…