The short-term Elliott wave view in the GBPJPY suggests that the cycle from 03 October 2023 low is nesting higher & expected to accelerate higher. Up from there, the rally to 183.81 high ended wave Read more…
The ongoing rally from last Friday, 27 October low has taken on the form of an impending “bearish flag” formation. Coupled with a weak market breadth condition (less than 50% of Nasdaq 100 component stocks Read more…
Fed is widely anticipated to keep interest rates steady at 5.25-5.50%, marking a second consecutive pause. While the accompanying statement and Chair Jerome Powell’s press conference are expected to keep options open for future rate Read more…
China’s Caixin PMI Manufacturing index slipped from 50.6 in September to 49.5 in October, falling below market expectations set at 50.8. This marks a renewed contraction in the nation’s manufacturing sector. Wang Zhe, Senior Economist Read more…
Key Highlights Crude oil prices saw swing moves in tense times and the Israel-Hamas war. A key bearish trend line is forming with resistance near $84.70 on the 4-hour chart. Gold prices could extend gains Read more…
Amid the resumed selloff of Yen, which broke 151 level against Dollar overnight, Japan’s top currency official, Masato Kanda, has issued a stern verbal warning. The Vice Finance Minister for International Affairs emphasized that Japan Read more…
Japan’s PMI Manufacturing for October was finalized at 48.7, a slight uptick from 48.5 in September. Despite the improvement, the index languished below the critical 50 threshold for the fifth consecutive month. S&P Global’s analysis Read more…
In a report on Australia’s economy, IMF highlighted concerns about persistent inflation levels in the country. Even though inflation is “gradually declining”, it continues to hover “significantly above” RBA’s target, with the country’s output “remains Read more…
New Zealand’s employment figures for Q3 came in weaker than anticipated. Employment contracted by -0.2%, sharply diverging from the forecasted growth of 0.40%. Unemployment rate made a noticeable leap, rising from 3.6% to 3.9%, a Read more…
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