Silver (XAGUSD) shows a higher high (bullish) sequence from 10.3.2023 low favoring further upside. The rally higher from 10.3.2023 is unfolding as a 5 waves impulse. Up from 10.3.2023 low, wave (1) ended at 23.69 Read more…
Key Highlights Bitcoin price started a fresh decline from the $37,750 resistance. BTC is still above a major bullish trend line with support at $35,800 on the 4-hour chart. Gold prices climbed higher toward the Read more…
Summary United States: A Feast of Economic Data Ahead of Thanksgiving The cornucopia of economic indicators stuffed into the first half of the week showed that economic growth is slowing. The Leading Economic Index fell Read more…
Australia’s manufacturing and services sectors showed continued contraction in November, reaching multi-month lows. PMI Manufacturing index fell from 48.2 to a 42-month low of 47.7, while PMI Services index dropped from 47.9 to a 26-month Read more…
BoC Governor Tiff Macklem, at an event overnight, acknowledged monetary tightening is “working”. He suggested that the existing level of interest rates might be “restrictive enough” to achieve price stability. Addressing the economic outlook, Macklem Read more…
Bundesbank President Joachim Nagel, in his remarks at a conference overnight, suggested an element of uncertainty regarding further ECB rate hikes, adding that will be “data driven.” However, he expressed a belief that ECB is Read more…
We expect the RBNZ will leave the OCR unchanged at 5.5% at its November policy meeting. The RBNZ’s forward profile for the OCR is likely to be little changed and suggest no change in the Read more…
Bond yields and the US dollar rose in response to second-tier US economic data (jobless claims, inflation expectations). Australian yields rose in response to RBA Governor Bullock’s speech but AUD slipped to 0.6540. Today we Read more…
USDJPY reversed from key support level 147.55 Likely to rise to resistance level 152.00, USDJPY currency pair recently reversed up from the key support level 147.55 (which has been supporting the price from September) intersecting Read more…
EURCHF reversed from resistance level 0.9670 Likely to fall to support level 0.9600 EURCHF currency pair recently reversed down from the strong resistance level 0.9670 (former strong support from May, which has been repeatedly reversing Read more…