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Markets The European February composite PMI released today matched January’s 50.2 reading. That’s suggestive of near negligible output growth. Services was still the main driver but expanded at a slower pace (50.7 from 51.3). The 23-month long downturn in manufacturing eased slightly (47.3 from 46.6). France was to blame for the marginally weaker-than-expected outcome with […]

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Canada: Retail Sales Jump in December, With Real Activity Reporting Its Strongest Month Since Mid-2022

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23/11/2024

Weekly Economic & Financial Commentary: How Much Will the Fed Cut Rates?

United States: Back-up in Mortgage Rates a Setback for Housing The residential sector was in focus this week. The late summer dip in mortgage rates led to an upside surprise in existing home sales. Recent hurricanes weighed on housing starts in October. An upturn in the NAHB HMI shows builders are not put off by […]
14/05/2024

USDX Elliott Wave: Forecasting the Decline from Equal Legs Area

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index, published in members area of the website. As our members know, USDX has ended the cycle from the December’s 2023 low. The index has recently given us bounce in a 3-wave pattern, when […]
28/01/2025

GBP/USD: A False Bullish Breakout?

GBPUSD breaks above bearish channel, faces rejection near 50-SMA. Caution persists among traders as they await a close above 1.2600. GBPUSD stalled around the falling 50-day simple moving average (SMA) at 1.2525 soon after exiting the bearish channel on the upside. Was this a false bullish breakout? No, not as long as the price continues […]