UK PMI construction rose from 49.2 to 52.3 in September, above expectation of 48.1. S&P Global said total industry activity rose for the first time three months. Output growth was linked to work on delayed Read more…
WTI oil futures (November delivery) are heading for their largest weekly gain since May, with the price stretching its bounce off the nine-month low of 76.25 up to 88.42 on Wednesday. The market managed to Read more…
AUDUSD has been moving sideways over the last week, consolidating within the 0.6367 support and the 0.6550 resistance. In trend indicators, the 20- and 50-day simple moving averages (SMAs) are heading south, confirming the long-term Read more…
On the 1H timeframe, NZDUSD seems to be forming a bearish trend, which may take the form of a double zigzag w-x-y of the cycle degree. The current chart shows the structure of the final Read more…
WTI crude bounced higher after OPEC+ agreed to cut output. The rebound has gained a foothold after it cleared the supply zone around 83.00. The price is testing the daily resistance and psychological level of Read more…
Gold clawed back losses as the dollar index bounces higher. A sharp recovery has lifted bullion back to September’s high at 1730 which is an important level on the daily chart. As the RSI soared Read more…
The Canadian dollar struggles over lacklustre August export data. A bearish RSI divergence showed a slowdown in the upward momentum while a double top at 1.3830 further suggested exhaustion in the current rally. The pair Read more…
Markets US data came in strong yesterday. The September ADP job report hit the bar (208k with a 53k upward revision for August). The US non-manufacturing ISM stabilized at a strong 56.7 (vs 56 expected), Read more…
It has been another volatile and undecided trading session yesterday. OPEC did cut its oil production target by 2 million barrels per day. It was the biggest cut since 2020, it was expected, it saw Read more…
Market movers today Another quiet day on data front. The euro area retail sales for August are expected to reflect a fall in household real income with consensus expecting a 0.4% drop from July. Also, Read more…