Normally, higher rates would be seen as good for the banking sector. So there is understandably some concern about the financial markets since Australian banking shares are down considerably despite a broad consensus that the Read more…
Stock futures mixed; Credit Suisse shares plunge; Tesla boasts a record quarter; OPEC+ promises to tighten the taps; Jobs Friday in focus for the week. Here are five things you must know for Monday, October Read more…
GBP/USD rises with UK politics & PMI data in focus The pound briefly spiked towards 1.13 before paring those gains. The move came after Kwasi Kwarteng tweeted, suggesting that the top rate tax cut would Read more…
The USDJPY is standing at the front foot in early Monday and probed again through 145 barrier, following last week’s bullish close (the seventh straight weekly gains) and monthly advance of 4.1% in September that Read more…
Gold continued to face mild bullish pressures during Monday’s early European trading hours, despite remaining compressed within the tight range of 1,660–1,676. Although the broad negative trajectory shows no sign of abating, the momentum indicators are reflecting persisting Read more…
UK PMI Manufacturing was finalized at 48.4 in September, up from August’s 47.3. S&P Global said output and new orders fell further. New export business declined. Input costs and output price inflation accelerated. Rob Dobson, Read more…
Eurozone PMI Manufacturing was finalized at 48.4 in September, down from August’s 49.6. That’s also a 27-month low. Looking at some member states, France PMI Manufacturing was finalized at 47.7, a 28-month low. Germany was Read more…
Swiss CPI dropped -0.2% mom in September, below expectation of 0.1% mom. The decrease of 0.2% compared with the previous month can be explained by several factors including falling prices for fuels, heating oil, hotels Read more…
On the 1H timeframe for the USDCHF pair, we see the final part of the proposed large double zigzag consisting of cycle sub-waves w-x-y. This pattern looks fully completed. Perhaps the price decline in the Read more…
EURUSD posted almost 4% of gains after the bounce off the 20-year low of 0.9530 in the preceding week, remaining within the long-term downward sloping channel. Technically, the RSI indicator is pointing upwards in the Read more…