• US PPI Inflation and Consumer Sentiment Eyed; EUR/USD Nears Resistance

    US PPI Inflation and Consumer Sentiment Eyed; EUR/USD Nears Resistance

    • December 8, 2022

    The main economic highlight in Thursday’s session was the (weekly) unemployment filings out of the US for the week ending 3 December. According to the US Department of Labour, unemployment claims rose 230,000, 4,000 higher than the previous upwardly revised 226,000 reading; the release was largely in line with economists’ forecasts. The 4-week average also

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  • Daily Market Outlook and Review

    Daily Market Outlook and Review

    • December 7, 2022

    The Bank of Canada (BoC) increased the target for the Overnight Rate by 50 basis points to 4.25% from 3.75% on Wednesday, and noted the central bank will continue quantitative tightening. This comes after short-term interest rate markets priced in a 25 basis-point increase. This is also the central banks 7th consecutive rate hike and

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  • Daily Outlook and Review: BoC Eyed; USD/CAD Approaching Resistance

    Daily Outlook and Review: BoC Eyed; USD/CAD Approaching Resistance

    • December 6, 2022

    Tuesday witnessed the Reserve Bank of Australia (RBA) increase the Cash Rate by 25 basis points to 3.1% from 2.85%—the highest level since late 2012. This, its last meeting of 2022, is also the central bank’s 8th consecutive rate hike this year. The immediate reaction observed the Australian dollar advance against its US counterpart, rallying

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  • S&P 500 Shaky Above its 200-Day SMA

    S&P 500 Shaky Above its 200-Day SMA

    • December 5, 2022

    Charts: TradingView Daily Timeframe Major US equity indices, together with European stock indices, finished last week on the front foot. The Dow Jones Industrial Average has entered a bull-market phase, following a 20% recovery off October troughs, with the S&P 500 not far behind. The Dow crossed above its 200-day simple moving average (32,458) in

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  • Daily Economic Review and Outlook

    Daily Economic Review and Outlook

    • November 30, 2022

    It was certainly a busy day in the economic space on Wednesday. Australian Annual Inflation Eases Early hours witnessed annual inflation (CPI) slow in October to 6.9%, following a 7.3% increase in September, according to the Australian Bureau of Statistics. Price rises were greatest in housing (10.5%), food and non-alcoholic beverages (+8.9%), furnishings, household equipment

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  • Euro Area Inflation Data and Powell Speech Eyed

    Euro Area Inflation Data and Powell Speech Eyed

    • November 29, 2022

    Despite a soft start for risk assets to the week, procyclical currencies staged a moderate rally against their US counterpart on Tuesday. Underpinned amid hopes of China reopening Covid lockdowns on the back of progress in their vaccination program, the risk-sensitive AUD/USD attempted to secure position north of the $0.67 psychological figure. Note that China

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  • Major Cryptocurrencies: BTC/USD Eyeing Lower While LTC/USD is Poised to Climb

    Major Cryptocurrencies: BTC/USD Eyeing Lower While LTC/USD is Poised to Climb

    • November 28, 2022

    Charts: TradingView BTC/USD: Daily Timeframe We have an interesting technical landscape to work with on bitcoin versus the US dollar (BTC/USD). Since November 2021, buyers have essentially been on the ropes, plummeting an eye-popping 78%. Also of technical relevance is price cementing itself under the 200-day simple moving average ($21,773) since the beginning of this

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  • Weekly Market Outlook and Review—Week Ending 2 December

    Weekly Market Outlook and Review—Week Ending 2 December

    • November 26, 2022

    In a holiday shortened-week for the US, Wednesday was a busy one for the macroeconomic space last week. Flash manufacturing and services PMIs stole the limelight early in Europe, witnessing an upside surprise across the majority of the euro zone PMIs, pointing to a potentially milder contraction. In the UK, both manufacturing and services PMIs

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  • Technical Outlook in Key Markets (25 November)

    Technical Outlook in Key Markets (25 November)

    • November 24, 2022

    Charts: TradingView US Dollar Index: Support Calling at 105.05 Daily timeframe The US Dollar Index—measures the dollar’s value against six major currencies—finished lower for a third consecutive session on Thursday. This shines the technical spotlight on Quasimodo support coming in at 105.05, a base accompanied by the widely watched 200-day simple moving average (currently fluctuating

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  • Market Outlook and Review Ahead of RBNZ Rate Decision and a Slew of PMIs

    Market Outlook and Review Ahead of RBNZ Rate Decision and a Slew of PMIs

    • November 22, 2022

    Charts: TradingView Today offers a busy economic calendar for traders and investors to work with. First on the menu is the Reserve Bank of New Zealand (RBNZ) Official Cash Rate Decision at 1:00 am GMT. The central bank is poised to increase its Cash Rate by 75 basis points (0.75%) to 4.25%, effectively unleashing its

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  • Weekly Outlook and Review—Week Ending 25 November

    Weekly Outlook and Review—Week Ending 25 November

    • November 19, 2022

    Charts: TradingView United Kingdom (UK) It was a big week for the UK, with inflation dominating the limelight on Wednesday, and Thursday subsequently shifting attention to the Autumn Statement. Headline inflation in the UK accelerated to a 41-year pinnacle at 11.1%, up from 10.1% in September. The research team highlighted the following after the release:

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  • UK’s Autumn Budget Eyed

    UK’s Autumn Budget Eyed

    • November 16, 2022

    Charts: TradingView Economic Review Early European hours observed UK inflation data hit the wires. Inflation is now in excess of five times the Bank of England’s (BoE) target; the Office for National Statistics (ONS) revealed that the Consumer Prices Index (CPI) jumped 11.1%, clocking a 41-year pinnacle. This is up from the 10.1% increase in

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