The currency markets are generally quiet, without committed directions. Dollar is recovering broadly, ahead of near term support against European majors. Commodity currencies are softening while Yen is mixed. Some focuses be on US mid-term Read more…
In the Summary of Opinions at BoJ’s October 27-28 meeting, it’s noted that it’s wages increase in a “sustainable and stable manner” to achieve the inflation target. Inflation could “deviate upward” form the baseline scenario Read more…
In RBNZ’s Survey of Expectations, businesses expect interest rate to rise 65bps to 4.15% a quarter ahead. In a year’s time, they saw interest rates rose further to 4.67%. Mean one-year ahead GDP growth decreased Read more…
Australia NAB Business Confidence dropped from 5 to 0 in October. Business Conditions dropped slightly from 23 to 22. Trading conditions dropped from 37 to 31. Profitability conditions rose from 21 to 22. Employment conditions Read more…
Australia Westpac Consumer Sentiment dropped -6.9% to 78.0 in November. The reading was below the low point of the Global Financial Crisis in 2008, and was just slightly higher than pandemic low at 75.6. Westpac Read more…
Australia AiG Performance of Services Index dropped slightly from 48.0 to 47.7 in October, staying in contraction for a second month. Looking at some details, sales dropped -0.5 to 41.3. Employment rose 1.3 to 53.9. Read more…
USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, USDJPY continued its bearish Read more…
Key Highlights GBP/USD started a fresh increase above the 1.1350 resistance. It is facing a major bearish trend line with resistance near 1.1515 on the 4-hours chart. EUR/USD surged above 0.9900 and might continue to Read more…
Business confidence came to a standstill according to a monthly NAB (National Australian Bank) survey. Falling from 5 to 0, it now sits at its lowest level since January and business conditions have also turned Read more…
Short term Elliott Wave view in Oil suggests the rally from 9.26.2022 low is unfolding as a 5 waves diagonal. Up from 9.26.2022 low, wave (1) ended at 93.64 and pullback in wave (2) ended Read more…