Daily Pivots: (S1) 1.0443; (P) 1.0487; (R1) 1.0510; More… Break of 1.0471 support suggests that EUR/USD’s corrective recovery from 1.0330 has completed at 1.0629 already. Intraday bias is back on the downside for retesting 1.0330 Read more…
Daily Pivots: (S1) 1.2631; (P) 1.2710; (R1) 1.2752; More… Sterling’s extended decline today suggests that corrective rebound from 1.2486 has completed at 1.2810 already. Immediate focus is now on 1.2615 minor support. Firm break there Read more…
Sterling slumped broadly today after UK GDP unexpectedly contracted in October, missing forecasts of modest growth. This contraction underscores the challenges facing the UK economy, which has been grappling with persistent inflation and uncertainty following Read more…
UK GDP fell by -0.1% mom in October, disappointing expectations for 0.1% mom growth. The decline was primarily driven by a -0.6% mom contraction in production output, with no growth observed in services and a Read more…
This week has been rich in terms of interest rate cuts from major central banks. The Reserve Bank of Australia (RBA) didn’t cut its rates but gave an unexpectedly dovish statement, citing that the RBA Read more…
In focus today In the euro area, we receive data on industrial production from October, which will give the first hard data point for production in Q4. Industrial production has been on a negative trend Read more…
Confidence among Japan’s major manufacturers showed a modest recovery in Q4, breaking a two-quarter decline. The Tankan large manufacturing index rose to 14 from 13, slightly exceeding market expectations. However, the outlook dipped marginally from Read more…
New Zealand’s BNZ Performance of Manufacturing Index dipped from 45.7 to 45.5 in November, marking its lowest reading since July 2024 and extending the contraction streak to 21 consecutive months. Despite some improvement in select Read more…
The RBA’s language change this week revealed a change in thinking driven by shifts in the data. But some data surprises might just be head fakes. Something happened between 28 November and 9 December to Read more…
Key insights from the week that was. While the RBA’s decision to leave the cash rate unchanged at 4.35% was widely anticipated, there were noteworthy shifts in language in the decision statement. Most poignant was Read more…