GBPJPY Has an Unstoppable Rally to 2-Month High

Key Highlights EUR/USD found support near the 1.0825 zone. It cleared a connecting bearish trend line with resistance at 1.0860 on the 4-hour chart. Crude oil prices could continue to move down toward $75.00. Bitcoin is rising and might soon test the $70,000 resistance. EUR/USD Technical Analysis The Euro started a downside correction from the […]

Markets Yesterday’s second round in the French parliamentary elections resulted in a hung parliament, be it in a totally different setup than polls suggested. Le Pen’s Rassemblement National (RN) unexpectedly finished third, securing 143 seats. Macron’s centrists (159) and the leftist front (NFP, 180) ended second and first respectively. The outcome initially triggered some OAT […]

In focus today In the euro area, focus turns to the October flash PMIs. We expect the manufacturing sector to remain in contractionary territory, while still edging up to 45.4 from 45.0, due to the way in which the PMI index is constructed. We expect the service PMI to remain in growth territory but decline […]