Elliott Wave View Looking Further Downside in EURUSD

Markets With US markets closed for Martin Luther King Day, Europe was obliged to find its own intraday dynamics. After a sharp US driven (softer PPI’s) yield decline on Friday, German rates gapped higher at the open (+/-4 bps). Initially, there was little news to support a clear directional move. A preliminary estimate of the […]

First Impressions: The WPI rose 0.8% in the September quarter, on par with Westpac’s forecast and below the market consensus of 0.9%. The market range was from 0.8% to 1.0%. On an annual basis, wages are up 3.5%yr, down from 4.1%yr in June and the peak of 4.2%yr in December 2023. Wage inflation has continued […]

The Fed maintained its monetary policy unchanged as widely anticipated. Lower rate and inflation projections together with more dovish wording in the statement and from Powell sparked a post-meeting rally in the markets. The Fed did not attempt to guide the market against the easing in financial conditions. We see this as a strong signal […]