EUR/GBP Cautious after the Dull ECB Hold, Turns to the BoE
The pair maintains its upside bias, but is cautious after the ECB paused yesterday but offered little in the way of direction, now looking to next week’s BoE decision
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The pair maintains its upside bias, but is cautious after the ECB paused yesterday but offered little in the way of direction, now looking to next week’s BoE decision
Watch today’s US Open for insights on the rate hold by the European Central Bank, the impressive Q3 results of Meta Platforms, key upcoming events and more
The BoC kept rates at 5% for second straight month, helped by the recent moderation in inflation and USD/CAD reacted higher, but policymakers remain concerned around slow progress
Watch today’s US Open for insights on the US yield moderation, the oil industry’s M&A activity, incoming earnings from tech giants like Meta and more
After briefly moving above 5% the US 10-year yield has retreated and is currently yielding 4.81%. Technically, there is a divergence between the 10-year yield and its RSI. This suggests that momentum may be slowing and that the yield correction may extend.
The pair starts an event-packed week in a cautious mood, as markets gear up for Thursday’s pivotal rate decision by the European Central Bank and Friday’s US PCE inflation update
Watch today’s US Open for insights on the strong Q3 results from Netflix and the disappointing report from Tesla, UK’s sticky inflation and more
Last week’s movement by gold has changed its technical position. The candlesticks have moved above the 30-week EMA and the EMA has bullishly turned up. Moreover, the weekly RSI has popped above 50 (green rectangle) which is the bullish side of the indicator. The longer it maintains above 50, the greater the momentum support for the yellow metal. Another positive is that gold’s candlesticks have broken out above the green…
Watch today’s US Open for insights on the strong US retail sales report, the incoming quarterly results from EV king Tesla & streaming leader Netflix and more
The pair extended this week’s gains after the accounts of the last policy decision by the Australian central bank had a hawkish tilt, but a slew of US data looms
Capital is rotating into havens such as gold and bonds and pushing the price of crude higher, as Israel seemingly prepares for its ground offensive against Hamas. Israel’s military told Palestinians today to start evacuating northern Gaza and move to the southern part of the territory. Consequently, market participants are on edge as the conflict looks to escalate, following Israel’s retaliation for the brutal Hamas attack that took place in…
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