Daily Pivots: (S1) 1.0787; (P) 1.0827; (R1) 1.0874; More… A temporary top is formed at 1.0873 with current retreat. Intraday bias in EUR/USD is turned neutral for consolidations first. But further rally is expected as Read more…
The forex markets turned mixed with an ultra-light economic calendar today, while the US is on holiday. Dollar is recovering slightly but it’s outperformed by Swiss Franc and Canadian. Yen is paring some of recent Read more…
In the Chief Economists Outlook of the World Economic Forum, 63% of survey respondents said a global recession is likely this year, with 18% saying that it’s “extremely likely”. Prospect for growth was also bleak, Read more…
Canada manufacturing sales were flat at CAD 72.3B in November, below expectation of 2.3% mom growth. higher sales of durable goods (+1.8%), led by motor vehicles (+12.7%) and fabricated metal products (+2.7%), were offset by Read more…
The Bank of Japan will kick off the central bank policy decisions of 2023 when it begins its two-day meeting on Tuesday, with the outcome expected in the early hours of Wednesday. Although it was Read more…
Bitcoin opened with a gap-higher on Monday and hit the highest since mid-September, in extension of sharp bullish acceleration last Thu/Fri. Surge through psychological 20 and 21K after gapping higher by over 1100 pips adds Read more…
The euro is almost unchanged on Monday, trading at 1.0831. The euro is coming off a strong week, as EUR/USD rose 1.8%. Earlier in the day, the euro hit 1.0874, its highest level since April Read more…
Japanese stocks, bonds and currency market remain rather nervous today, as traders are eyeing BoJ policy decision on Wednesday. The yield curve “distortion”, as described by the central bank, was getting more serious after 8- Read more…
With the Bank of England meeting scheduled in less than three weeks, pound followers will be enlightened on the underlying currents of the UK economy. Labour market statistics, inflation figures and retail sales data create a Read more…
XAUUSD continues the development of a large correction pattern taking the form of a cycle triple zigzag. There is a possibility that the cycle wave z, which is currently under development, also takes the form Read more…