The short-term Elliott wave view in the DAX suggests that the index has ended the cycle from the 31 July 2023 peak as a leading diagonal structure in a higher degree corrective sequence. Whereas the Read more…
Markets The November rally in core bonds continued yesterday, but unlike Wednesday they closed off the intraday highs. A dovish hold by the Bank of England and disappointing US Q3 unit labour costs (-0.8% Q/Q Read more…
Daily Pivots: (S1) 1.0570; (P) 1.0619; (R1) 1.0672; More… Intraday bias in EUR/USD stays neutral at this point. On the upside, break of 1.0693 will extend the rebound from 1.0447 to 1.0764 cluster resistance (38.2% Read more…
Daily Pivots: (S1) 1.2152; (P) 1.2189; (R1) 1.2240; More Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.2287 resistance will argue that rise from 1.2036 is resuming. Intraday Read more…
Daily Pivots: (S1) 0.6398; (P) 0.6427; (R1) 0.6463; More… Intraday bias in AUD/USD remains on the upside at this point. Rebound from 0.6269 short term bottom would target 0.6510 cluster resistance (38.2% retracement of 0.6894 Read more…
Dollar continues to languish as one of the weakest performers of the week, sharing the lower rungs of performance with Yen and Swiss Franc. This dynamic comes in the wake of a robust rally in Read more…
Key insights from the week that was. In Australia, nominal retail sales rose strongly in September, up 0.9% (2.0%yr). However, this was mostly due to transitory factors, including policy changes around medicines under the Pharmaceutical Read more…
DXY: The DXY (US Dollar Currency Index) chart currently has a neutral overall momentum, indicating a lack of a strong directional bias. In this situation, it’s suggested that the price could potentially fluctuate between the Read more…
The upcoming US non-farm payroll report is set to capture the market’s full attention today, with investors seeking signs that could affirm Fed’s interest rate has already peaked. In light of Fed Chair Jerome Powell’s Read more…
China’s service sector showed a glimmer of resilience in October, with Caixin PMI Services edging up marginally from 50.2 to 50.4, meeting expectations. However, this slight uptick could not buoy the overall PMI Composite, which Read more…