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Brent crude oil reversed from support zone Likely to rise to resistance levels 81.60 and 84.00 Brent crude oil recently reversed up from the support zone set between the strong support level 77,00 (which has been reversing the price from January) and the lower daily Bollinger Band. The upward reversal from this support area created […]

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08/03/2024

The Slow Lane in the Tunnel

This week’s national accounts confirmed our view that the domestic economic is soft, especially the consumer. Pressures on households should start to ease in the period ahead. The big-picture themes from the national accounts for the December quarter were largely as expected. The Australian economy is soft, expanding just 0.2% in the quarter and 1½% […]
30/01/2024

Euro Steady Despite German GDP Decline

The euro has edged higher on Tuesday. In the European session, EUR/USD is trading at 1.0850, up 0.16%. German GDP declines by 0.2% Germany, the largest economy in the eurozone, continues to weigh on the bloc with its weak economy. Germany’s GDP declined by 0.3% q/q in the fourth quarter, matching the consensus estimate. Third-quarter […]
11/06/2024

Alarming UK Labour Market Data

Unexpected weakness in the UK labour market could signal an important turnaround in the economy and raise the urgency of monetary easing. The short-term impact on the Pound has been relatively limited, but the currency market has now adopted a wait-and-see approach ahead of Wednesday’s US news. This morning’s batch of data from the UK […]