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The national accounts confirmed that demand growth remained soft. Revisions to past tourism spending have no implications for future inflation but underline that weak supply is still an issue. This week’s national accounts confirm that the Australian economy is still soft. Domestic demand has limped along at a quarterly pace of 0.1–0.2% for a couple […]

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13/03/2024

EURGBP Starts to Take a Bullish Shape

EURGBP gets rejected near 50-day SMA after rebound Market structure develops into a bullish double bottom pattern Buyers need a rally above 0.8577 to dominate EURGBP could not surpass its 50-day simple moving average (SMA) at 0.8553 on Tuesday. However, the bullish double bottom pattern, which started to take shape around February’s base of 0.8500, might […]
09/01/2024

Dow Futures (YM) Doing Elliott Wave Corrective Pullback

Short-term Elliott Wave View in Dow Futures (YM) suggests that the rally to $38115 high has ended the cycle from the 10.27.2023 low in wave (3) as 5 wave impulse structure. Down from there, the index is doing a corrective pullback in wave (4) against the October 2023 low cycle. And is expected to find […]
27/06/2024

Need Morphine

The selloff in Japanese yen extended yesterday sending the currency to the lowest levels since 1986 against the US dollar and to the lowest levels against the euro. The EURJPY is now flirting with the 172 level, while the USDJPY is consolidating gains above the 160 level. The only thing that prevents the yen from […]