EURAUD Wave Analysis

EURCHF broke key support level 0.9410 Likely to fall to support level 0.9300 EURCHF recently broke the pivotal support level 0.9410 (former multi month low from July). The breakout of the support level 0.9410 accelerated both of the active impulse waves 3 and (5). Given the predominant weekly downtrend and the widespread Swiss franc gains […]

Markets Markets received another dose of realism in the form of solid US economic data. US December housing data came in on the strong side of expectations. Building permits, seen as a leading indicator for the sector, rose by 1.9% m/m (1495k) vs 0.7% expected. Shovel-in-the-ground housing starts, the next step in the process, declined […]

Forecasting is hard when even the past does not stand still. Local markets were heavily focused this week on the June quarter national accounts. Our note (PDF 712KB) on the subject highlighted the key points. Foremost amongst these is that despite strong population growth, private sector demand is stagnant. Household consumption went backwards in the […]