UK GDP Data and Euro Area Industrial Production Figures on Today’s Menu

Monetary policy is working to bring demand and supply back into alignment and inflation back to target, and some of the concerns that would support a case to raise rates further were effectively dismissed by data released after the meeting. The Board’s decision to hold was therefore vindicated by subsequent events. The minutes of the […]

Short term Elliott Wave View suggests $EURUSD ended wave 1 rally at 1.11395. Pair is now doing wave 2 pullback to correct cycle from 10.03.2023 low. Wave 2 subdivides into a zigzag Elliott Wave structure. Zigzag is a 5-3-5 structure with ABC as the label. Wave A and C in zigzag subdivide into 5 waves […]

The sight of the 272K new nonfarm job additions and the fastening wages growth above 4% on a yearly basis smashed the dovish Federal Reserve (Fed) expectations on Friday, and sent the US 2-year yield from around 4.70% to 4.90% in a single move, the 10-year yield spiked to 4.45% and the US dollar index […]