Daily Pivots: (S1) 1.5262; (P) 1.5377; (R1) 1.5446; More… Intraday bias in EUR/AUD stays neutral as consolidation from 1.5704 is still extending. Downside should be contained by 55 day EMA (now at 1.5315) to bring Read more…
Daily Pivots: (S1) 0.9794; (P) 0.9833; (R1) 0.9878; More…. Range trading continues in EUR/CHF and intraday bias remains neutral. On the upside, firm break of 0.9953 resistance will resume larger rally from 0.9407 to 1.0072 Read more…
Short term Elliott Wave View in FTSE suggests the rally from 10.13.2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 10.13.2022 low, wave 1 ended at 7093.05 and pullback in Read more…
Equities take off as investors price in lower peak US funds rates. The FTSE 100 broke above last August’s high of 7575, which may lay the foundation for an extension in the weeks to come. Read more…
Oil prices find support from a large drawdown in US inventories. Sentiment remains cautious at best after WTI broke below September’s low of 76.60. The RSI’s repeatedly oversold condition attracted some bargain hunters. 81.70 from Read more…
The US dollar plunged after Fed Chairman Powell signalled a slowdown in rate hikes. A close above the recent high of 1.0450 was an encouraging sign that the optimism is still prevailing. But the psychological Read more…
Markets Yesterday, EMU November headline CPI eased more than expected from 10.6% to 10.0%, but didn’t came as a surprise after member states’ data published on Wednesday. Core inflation holding stubbornly high at 5.0% even Read more…
Swiss CPI was unchanged at 3.0% yoy in November, above expectation of 2.6% yoy. Core CPI (excluding fresh and seasonal products, energy and fuel) rose from 1.8% yoy to 1.9% yoy. Domestic product inflation rose Read more…
Oops investors did it again. They did not listen well to what Jerome Powell said yesterday. Powell said that the Federal Reserve (Fed) will slow down the pace of rate hikes from next month, while Read more…
Market movers today The main release today will be ISM manufacturing for November this afternoon. It is expected to drop below 50 from 50.2 to 49.7. Focus will also be on the price and employment components. US also Read more…