Australia GDP grew 0.9% qoq in Q2, matched expectations. Household spending rose 2.2% for the quarter, contributing 1.1% pts to GDP. Net trade contributed 1.0% pts to GDP, driven by exports which rose 5.5%, partially Read more…
As Yen tumbles further to fresh 24-year low against Dollar, Japan Finance Minister Shunichi Suzuki cautioned that “recent moves are rather rapid and one-sided . We need to be watching developments with strong interest.” Chief Cabinet Read more…
Output expanded by 0.9% in the June quarter, meeting market expectations. Consumer spending was a bright spot, up 2.2% (albeit falling short of our expectations). Exports also performed well. However, elsewhere conditions were mixed. The Read more…
USD/JPY: On the H4 chart, price has confirmed a bullish momentum breaking the previous high. We are bullish bias- Price is testing at the first resistance 143.431, if bullish momentum continues it should bring price Read more…
Key Highlights NZD/USD declined to a new multi-month low below 0.6100. EUR/USD spiked below the 0.9900 support, and GBP/USD stayed below 1.1620. USD/JPY surged above the 141.50 and 142.00 resistance levels. The Euro Zone GDP Read more…
EURUSD shows a bearish sequence from 8.10.2022 high suggesting further downside is likely. The decline from August 10 high is unfolding as an impulse Elliott Wave structure. Down from August 10 high, wave 1 ended Read more…
The national accounts released today showed the Australian economy in the June Quarter expanded by a solid 0.9% and 3.6% YoY. It’s the third consecutive quarter of economic expansion for the Australian economy. The first Read more…
The Bank of Canada meets on Wednesday to decide how much the central bank should raise interest rates. It really isn’t a question as to “if” they will raise interest rates as to “by how Read more…
The ECB meets this week to discuss interest rate policy. At its last meeting, the ECB hiked rates by 50bps to bring the key rate to 0.00% from negative territory. The question at this meeting Read more…
Gold couldn’t hold onto its earlier gains, and now a big breakdown looks almost certain. Recession concerns around the world continue to boost the appetite for US dollar, even at these levels. Investors are becoming Read more…