Short Term Elliott Wave in Light Crude Oil (CL) suggests the decline from 4.12.2024 high is in progress as a 5 waves impulse. Down from 4.12.2024 high, wave 1 ended at 81.56 and wave 2 Read more…
Japan’s PMI Manufacturing rose from 49.6 to 50.5 in May, exceeding expectations of 49.7 and signaling improving business conditions for the first time in a year. Meanwhile, PMI Services declined from 54.3 to 53.6, and Read more…
Australia’s PMI Manufacturing remained steady at 49.6 in April, a joint 9-month high. PMI Services dropped slightly from 53.6 to 53.1, while PMI Composite decreased from 53.0 to 52.6. Warren Hogan, Chief Economic Advisor at Read more…
New Zealand’s retail sales volumes rose by 0.5% qoq to NZD 25B in Q1, significantly outperforming the anticipated -0.3% qoq decline. Sales values increased by 0.7% qoq to NZD 30B. “In the March quarter, we Read more…
US stocks ended lower overnight as minutes from the latest FOMC meeting revealed a more hawkish stance than anticipated. The central focus of the minutes was the “lack of further progress” in reducing inflation towards Read more…
April 30-May 1, 2024 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday, Read more…
Key Highlights Crude oil prices settled below the $80.00 level with a bearish angle. A connecting bearish trend line is forming with resistance at $79.20 on the 4-hour chart. Gold prices corrected lower from the Read more…
Retail spending was much stronger than expected in the March quarter. However, the longer-term trend in spending remains weak. March quarter real retail sales (volumes): +0.5% (Prev: -1.8%) Westpac f/c: -0.5%, Market: -0.3% March quarter Read more…
USDCAD reversed from pivotal support level 1.3585 Likely to rise to resistance level 1.3750 USDCAD currency pair recently reversed up from the pivotal support level 1.3585 (former strong resistance from December, February and March) intersecting Read more…
AUDJPY reversed from resistance level 104.50 Likely to fall to support level 103.00 AUDJPY currency pair recently reversed down from the key resistance level 104.50, which stopped the previous sharp upward impulse wave 3. The Read more…