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Markets What a difference a revision makes… So often overlooked final figures of monthly (EMU) PMI broke headlines today. The euro area economy returned to growth for the first time since May 2023 after an upwardly adjusted composite PMI (50.3 from 49.9). Further growth expectations are the most optimistic since the start of the Russian […]

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17/01/2024

Gold: Preparing for Breakout or Reversal? Dollar Will Decide

Gold lost 0.8% on Tuesday to $2037 due to the impact of a rising dollar after policymakers in Davos flagged overly optimistic expectations for an interest rate easing cycle. Commentators are trying to find a link between hawkish comments from eurozone (not US) policymakers and the rise of the dollar. But we tend to see […]
20/02/2024

GBPAUD Wave Analysis

GBPAUD reversed from resistance level 1.9400 Likely to fall to support level 1.9200 GBPAUD currency pair recently reversed down from the resistance level 1.9400 (which has been repeatedly reversing the pair from the middle of January). The downward reversal from the resistance level 1.9400 created the 3rd consecutive candlesticks reversal pattern Bearish Engulfing. Given the […]
15/03/2024

Bank of England Preview – We Still Pencil in the First Cut in June

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 21 March, which is in line with consensus and current market pricing. Overall, we expect the MPC to repeat its previous communication relying on a data dependent approach. We expect a muted reaction in EUR/GBP with risks tilted to […]