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Markets Eurozone business activity continued to rise in September, with the composite PMI reaching a 16-month high at 51.2 (from 51 in August). Details couldn’t convince though. New orders and employment stalled while business confidence dropped to a 4-month low. Declining orders and job cuts in manufacturing were balanced by modest expansions in services. Companies […]

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EUR/USD Preserves Upleg Above SMAs

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20/01/2024

USDCAD Stuck Between Converging SMAs

USDCAD extends its rebound to a fresh 1-month high But does not manage to close above the 50-day SMA Momentum indicators turn positive USDCAD had been staging a solid recovery from its December low of 1.3176, but the 50-day simple moving average (SMA) prevented further gains. Despite the rejection, the 200-day SMA has been acting as a […]
06/05/2024

EUR/USD Gains Momentum But Still Confined In Range

Key Highlights EUR/USD started a recovery wave above the 1.0650 resistance. It broke a major bearish trend line with resistance at 1.0720 on the 4-hour chart. GBP/USD rallied and tested the 1.2620 resistance zone. Oil prices extended losses and traded below the $78.80 support. EUR/USD Technical Analysis The Euro found support near 1.0600 against the […]
14/05/2024

Sunset Market Commentary

Markets Both interest rate markets and the dollar held a wait-and-see mode this morning with EMU bonds slightly underperforming the US Treasuries. German ZEW investors sentiment again improved more than expected (expectations index from 42.9 to 47.1, the 10th consecutive improvement). This is not the most important input for the ECB, but it maybe marginally […]