Dollar Index (DXY) Looking for a Flat Elliott Wave Correction

The British Pound jumped 0.25% against the Dollar and 0.33% against the Euro due to the employment data. Although key parameters of the report exceeded market expectations, the overall negative trend remains. In the three months to June, the unemployment rate fell to 4.2%, in sharp contrast to the previous two months (4.4%) and beating […]

Key insights from the week that was. Australian Q1 GDP printed broadly as expected, rising 0.1% (1.1%yr). There were some surprises for consumption however, a firmer-than-anticipated gain of 0.4% in Q1 – thanks in part to major events like Taylor Swift Era’s Tour and the Formula 1 – and an upward revision to tourism-related spending […]

Cable firmed in early Wednesday’s trading after hitting nine-week high on Tuesday (1.2800), but subsequently pulling back on unexpectedly strong rise in US consumer confidence in May, which temporarily inflated dollar. Broken Fibo barrier at 1.2753 (76.4% of 1.2893/1.2299) reverted to solid support (reinforced by 5DMA, which so far holds dips, however risk of deeper […]