Elliott Wave View: Gold (XAUUSD) Starts Next Leg Higher

Key insights from the week that was. In Australia, headline results from the May Labour Force Survey were in line with Westpac’s forecasts. Growth in employment was solid in the month, up +39.7k (+0.3%), in part due to an unwind of a seasonal dynamic from last month – more people than usual entering employment in […]

We now expect the RBNZ to cut the OCR by 50bps to 4.75% at the October Monetary Policy Review. We also expect another 50bps cut to 4.25% at the November Monetary Policy Statement. The projected step up in the pace of easing in October is a more finely balanced decision (perhaps a 60% probability) whereas […]

In focus today Today, in China, PBOC will set the Medium Lending Facility rates, but they are widely expected to keep rates unchanged due to the recent sharp depreciation on the CNY, aiming to avoid to further downward pressure on the currency. Today, in the euro area, we have a string of ECB speeches including […]