Eurozone PPI came in at -2.9% mom, 30.8% yoy in October, versus expectation of -2.0% mom, 31.5% yoy. Industrial producer prices decreased by -6.9% in the energy sector, while prices increased by 0.2% for intermediate Read more…
USD/CAD looks to US & Canadian jobs data USD/CAD lacks direction ahead of the jobs reports from the US and Canada. The loonie has failed to track oil prices higher across the week. Canada’s main Read more…
PCE was out yesterday, showed that the Inflation is stable. Also, on Wednesday speculators wanted to see if Powell will stay hawkish or be even more aggressive; he was the complete opposite, despite still good Read more…
The Australian dollar’s has posted small gains today and is trading at 0.6816. After starting the week with sharp losses, AUD/USD has rebounded and hit a 13-week high on Thursday, at 0.6845. All eyes on Read more…
The Canadian dollar continues to show limited movement. In the European session, USD/CAD is almost unchanged at 1.3433. We are likely to see stronger movement in the North American session, as both the US and Read more…
It is likely that the AUDUSD pair will form a bearish triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ in the long term, where the primary wave Ⓩ is a simple zigzag (A)-(B)-(C). The intermediate wave (B) of this zigzag Read more…
The Nasdaq 100 steadies as traders await November’s reading on the US labour market. On the daily chart, the index has found solid support over the 20-day moving average (11500) next to the previous double Read more…
The Japanese yen rallied after BoJ officials hinted at a potential exit of QE. On the daily chart, a fall below the double bottom by the June and August lows around 102.00 may cause a Read more…
The US dollar continues to soften after October’s PCE showed a deceleration. The pop above the high of 0.6290 is a confirmation that the bulls are still in control after a short-lived correction. Strong momentum Read more…
Markets Yesterday, the post-Powell bond rally simply continued as markets read US data as supporting the case for the Fed to slow its anti-inflationary campaign in December and maybe also at Q1 2023 meetings. US Read more…