Cryptocurrencies
Awaiting the Fed Minutes
Equity markets appear to be treading water on Wednesday as we await the latest batch of FOMC minutes later in the day. Asia played a bit of catchup overnight after Europe and the US posted Read more…
Cryptocurrencies
USDJPY Trades Flat as Latest Rebound Falters
USDJPY has been in a prolonged uptrend for almost two years, crossing above its historical resistance levels to post a 32-year high of 151.94 in October. Even though the pair declined moderately from its recent multi-year peak, it has Read more…
Cryptocurrencies
NZDUSD Needs to Surpass 0.6200 for More Bullish Actions
NZDUSD is testing the 0.6200 psychological mark once again after it broke the long-term descending trend line to the upside. The bullish bias in the short-term may be endorsed if there is a climb above Read more…
Cryptocurrencies
France PMI composite dropped to 48.8, vital support from services ended
France PMI Manufacturing improved from 47.2 to 49.1 in November. But PMI Services dropped from 51.7 to 49.4, a 20-month low. PMI Composite dropped from 50.2 to 48.8, a 21-month low. Joe Hayes, Senior Economist Read more…
Cryptocurrencies
EUR/USD Extends Yesterday’s Advance, Count Down to the November PMIs
Markets Risk-on held the upper hand during an initially choppy trading session yesterday. Stocks finished 0.5-1.4% higher in Europe and the US despite the grim economic picture painted by the OECD. Core bonds gained ground Read more…
Cryptocurrencies
Elliott Wave View: Silver (XAGUSD) 5 Waves Down Suggests Further Downside
Short term Elliott Wave View in Silver (XAGUSD) suggests cycle from 7.14.2022 low completed as a flat structure. Up from 7.14.2022 low, wave A ended at 20.86 and pullback in wave B ended at 18.07 as Read more…
Cryptocurrencies
No Recession, But Slow and Low Growth
The OECD said the global economy will avoid a recession this year, and next year, and that unemployment rates won’t skyrocket. That was the good news. But growth will be low and slow, and inflation Read more…
Cryptocurrencies
EU Proposes Gas Price Cap
Market movers today The most important data releases today will be the November Flash PMIs from the euro area, UK and US. We expect the figures to provide further evidence of GDP contraction in the Read more…
Cryptocurrencies
GBP/JPY Daily Outlook
Daily Pivots: (S1) 167.34; (P) 167.83; (R1) 168.30; More… Intraday bias in GBP/JPY stays mildly on the upside as rebound from 163.02 is still in progress. Correction from 172.11 might have completed at 163.20, after Read more…
Cryptocurrencies
EUR/JPY Daily Outlook
Daily Pivots: (S1) 145.02; (P) 145.37; (R1) 145.83; More…. As EUR/JPY’s recovery from 142.54 extends, focus is back on 147.09 minor resistance. As noted before, correction from 148.38 might have completed at 142.54. Break of Read more…