EURJPY 5 Waves Impulsive Elliott Wave Rally Favors Upside

Eurozone data remains recessionary EURUSD rebounds after surveys Is it just a corrective rally? The data from the eurozone isn’t improving early in the new year, with the latest PMI surveys all remaining firmly in contraction territory. While we’re continuing to see improvements in the manufacturing survey, that comes from a very low base and […]

Markets The Fed kept the policy rate unchanged yesterday at 5.25-5.5%. The new statement featured some important changes compared to the June one, which are seen as paving the way towards a first, September rate cut. It noted that there was some further progress of inflation, which they now label as “somewhat” elevated, while striking […]

Key insights from the week that was. Q3 GDP for Australia surprised to the downside, printing 0.2% (2.1%yr). Relative to expectations, the key disappointment in the quarter was consumer spending, unchanged in Q3 after just a 0.1% gain in Q2. Per capita consumption growth is in the realm of –2.0%yr, second only to the GFC […]