US Dollar Drifting
Currency markets content to range trade Currency markets showed little reaction to the Fauci omicron comments overnight, having already put the new variant behind it to focus on the upcoming FOMC meeting next week. That sentiment saw the US Dollar...
Elliott Wave View: Rally In DAX Expected To Fail
Rally in DAX to 16299.31 ended cycle degree wave I. This completed the rally which started from March 16, 2020 low. The Index is currently in wave II to correct cycle from March 2020 low in larger degree pullback wave...
Yen Crosses Rebounding as Sentiments Turned Positive
Overtone in the markets turned positive with the strong rebound in US stocks overnight, while Asia indexes follow higher. Australian Dollar is recovering broadly after RBA stood pat and gave nothing new to the markets. On the other hand, Yen...
Stock futures are flat after a rebound in markets as investors reassess omicron risk
Stock futures were flat in overnight trading on Monday after a rebound from a rollercoaster week as investors looked past the potential impact from the new omicron coronavirus variant. Futures on the Dow Jones Industrial Average rose just 15 points....
US 500 Index Attempts to Push Higher
The US 500 stock index (Cash) is trying to recoup previously lost ground from the decline off the 4,720 level until the one-and-a-half month low of 4,494. The bearish 50- and 100-period simple moving averages (SMAs) are endorsing the pullback,...
Bank of Canada Meets as Omicron Hits Loonie
Not much is expected from the Bank of Canada when it concludes its meeting at 15:00 GMT Wednesday. The domestic economy is absolutely booming, setting the stage for several rate increases next year. However, most of that is already priced...
Bank of Canada Meeting Preview: BOC Inching Closer to Rate Hikes
Friday’s big miss in the US jobs report set off plenty of speculation about what it might mean for next week’s FOMC meeting, but the more immediate “jobs report impacting a central bank decision” situation comes from North of the...
RBA Preview – Keeping Powder Dry on Mixed Data and Omicron Uncertainty
The RBA is widely expected to leave the cash rate unchanged at 0.1%. Given the mixed economic data flow since the last meeting, the uncertainty of the Omicron variant and the scheduled discussion about asset purchases in February, policymakers would...
US Dollar is Rising Again
EUR/USD is back to falling on Monday; it is currently trading at 1.1280. Last Friday’s statistics on the US labour market for November were rather mixed. However, the ISM and PMI data may help the market to recapture the positive...
Aussie Recovering Slightly in Range-bound Markets, Yen Softens
Major currencies remain largely in range against each other in quiet trading today. Australian Dollar continues to lead other commodity currencies to recover. But Aussie’s recovery could be short-lived if RBA delivers some unexpected dovish surprise in the coming Asian...