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Markets European equities are on track to end the week with a bang. The EuroStoxx50 had an excellent week, shrugging off a weak start to finish around 5% higher and to its strongest level since 2000. Wall Street, already being near record highs had to settle for less. They do open with gains that make […]

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25/07/2024

GBP/USD Dips to 1.2850 Amid Growing BoE Rate Cut Speculation

GBP/USD is declining due to speculation of a BoE rate cut and concerns about global growth. Market participants are pricing in a 53% chance of rate cuts in August, but economists polled predict an 80% chance of a cut. Technically, GBP/USD has support at 1.2850 and resistance at 1.2950. Cable has continued to edge toward […]
22/10/2024

Aussie Unsettled as US Election Risks Rise

AUD/USD starts the week fragile, trading at 5½ week lows in the mid-0.66s. The local and international data slate is thin this week, but consequential events loom in late October and early November – Q3 CPI (30 Oct), US Oct payrolls (1 Nov) and the US election and the RBA (both 5 Nov). A stellar […]
02/04/2024

GBPUSD May See Support Soon From Inflection Area

Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at […]