Eurozone PMI Manufacturing from 46.5 to 45.7 in March, below expectation of 47.0. PMI services, on the other hand rose from 50.2 to 51.5, above expectation of 50.5 a 9-month high. PMI Composite ticked up Read more…
In a surprising move, SNB announced a -25bps cut in its policy rate, bringing it down to 1.50%. This decision also introduced a tiered system for the remuneration of banks’ sight deposits held at SNB. Read more…
The Swiss National Bank is lowering the SNB policy rate by 0.25 percentage points to 1.5%. The change applies from tomorrow, 22 March 2024. Banks’ sight deposits held at the SNB will be remunerated at Read more…
WTI crude oil looks positive despite the latest drop 20- and 200-day SMAs post bullish cross MACD and RSI show positive signs WTI crude oil futures are easing after the climb towards the new four-month Read more…
Markets Let’s dive right into yesterday’s Fed meeting. There’s an interesting divide between markets’ and our interpretation. For the former it was nothing but an outright dovish, cuts-are-coming-soon tribute. The three major US stock indices Read more…
Short Term Elliott Wave view in Silver (XAGUSD) suggests that rally from 1.22.2024 low is in progress as a 5 wave impulse. Up from 1.22.2024 low, wave 1 ended at 23.32 and pullback in wave Read more…
The Federal Reserve (Fed) meeting went better than many expected. The Fed left interest rates unchanged as planned, but Chair Jerome Powell repeated that the rate cuts will begin ‘sometime this year’ and that it Read more…
In focus today It is rate review day for several central banks, as we look to both the Swiss National Bank (SNB, 9.30 CET), Norges Bank (10.00 CET), and Bank of England (BoE, 13.00 CET) Read more…
Daily Pivots: (S1) 192.29; (P) 192.91; (R1) 194.02; More….. Intraday bias in GBP/JPY remains on the upside for the moment. Current up trend should target 61.8% projection of 178.32 to 191.29 from 187.94 at 195.95, Read more…
Daily Pivots: (S1) 164.21; (P) 164.79; (R1) 165.77; More… Intraday bias in EUR/JPY remains on the upside for the moment. Current rally should target 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71. On Read more…