The Dax 40 climbs as upbeat industrial output in Germany eases fears of a deep recession. A close above December’s high of 14660, a major daily resistance may have put the index back on track. Read more…
The pound softens as the BoE’s chief economist warns of persistent inflation. On the daily chart, the euro is in a consolidation after it lifted last October’s high of 0.8860. A slide below 0.8780 may Read more…
The Japanese yen rallied over better-than-expected Tokyo CPI in December. On the daily chart, a break below August’s low (130.50) has put the buy side under pressure. The latest bounce hit resistance in the supply Read more…
Markets Friday’s post-ISM moves petered out yesterday though US Treasuries continued to outperform German Bunds. The NY Fed’s Survey of Consumer Expectations showed median one-year-ahead inflation expectations continuing to decline in December, falling by 0.2 Read more…
Good news is that Asian stocks entered bull market. Bad news is that the Federal Reserve (Fed) President Jerome Powell could hammer the post-NFP stock rally in US stocks. Sentiment is mixed and investors are Read more…
Market movers today Both Norway and Denmark release CPI for December this morning while we will get various activity data out of Sweden later in the day, see Nordics section below. In the US we Read more…
Cycle from 9.29.2022 low is in progress as a 5 waves impulse Elliott Wave structure. In the 45 minutes chart below, we can see wave 4 ended at 13795.47. Wave 5 rally is currently in Read more…
Daily Pivots: (S1) 1.3349; (P) 1.3399; (R1) 1.3440; More…. Intraday bias in USD/CAD remains on the downside for deeper decline. But strong support would be seen above 1.3224 to contain downside. Above 1.3483 minor resistance Read more…
Daily Pivots: (S1) 0.6875; (P) 0.6913; (R1) 0.6950; More… Intraday bias in AUD/USD remains mildly on the upside at this point. Rise from 0.6169 is in progress and should target 61.8% projection of 0.6169 to Read more…
Daily Pivots: (S1) 131.25; (P) 131.95; (R1) 132.60; More… Intraday bias in USD/JPY remains neutral for the moment as range trading continues. On the upside, firm break of 134.49 should confirm short term bottoming, and Read more…