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In focus today In the euro area, we receive final services PMI. The flash estimates fell to the lowest level in three months, to 50.7 and undercutting market expectations of 51.5. The market expectation is that final numbers will align with flash estimates on 50.7. In the US, a string of data will be released […]

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EUR/USD Rallies While USD/CHF Dips Further

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06/12/2023

Slowing Economy Keeps Bank of Canada On Hold in December  

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum stating, “economic growth stalled through the middle quarters of 2023 (and that) higher interest rates are clearly restraining spending”. The Bank also noted that the labour market […]
01/04/2024

EURUSD’s Recent Bearish Tendency to be Tested this Week

EURUSD trades sideways in anticipation of this week’s key market events It remains below the various simple moving averages employed Momentum indicators support the current bearish move EURUSD is moving sideways today amidst a quieter start of the week due to the Easter Monday holiday observed in Europe. EURUSD has been on the retreat after […]
03/12/2024

Elliott Wave View S&P 500 (SPX) Wave 5 in Progress

Short Term Elliott Wave view on SP500 (SPX) suggests rally from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave 1 ended at 5627.56 high and pullback in wave 2 ended at 5402.62 low. The Index then extends higher in wave 3 ending at 5878.46 high. The next pullback […]