Data confirmed estimates that German GDP would shrink 0.1% Germany’s economy shrank slightly in the third quarter compared with the previous three months, statistics office data showed on Friday. The numbers confirmed an initial estimate, published at the end of October, which indicated that Europe’s largest economy had shrunk by 0.1%. (GRAPHIC FROM THE
The dollar remains in a vulnerable spot once again, with USD/JPY eyeing a potential drop below 148.00 and inching back towards a retest of the October low at 147.27. Meanwhile, the antipodeans are off to a strong start this week with AUD/USD and NZD/USD both climbing above their respective 200-day moving averages in sealing a
S&P 500 & GOLD PRICE FORECAST: Gold (XAU/USD) Struggles as Sentiment Improves. Will a Sustainable Move Above $2000/oz Materialize? S&P 500 Ended Last Week Down 10% from the YTD High. This is Usually Seen as a Correction. A Host of Earnings and Data Releases Lie in Wait. Will the Earnings and Data Releases be Able
This week 4 of the “Magnificent 7” (Microsoft, Amazon, Alphabet and Meta reported) reported their earnings and their results really didn’t matter. The markets were intent on moving to the downside spurred on by higher yields, concerns about global growth, concerns about the Fed, and concerns about Israeli/Hamas war. The wall of worry is high.
GBP/USD, DXY PRICE, CHARTS AND ANALYSIS: GBP/USD Looks to Recover Yesterdays Losses and Holds Above the 100-Day MA Ahead of US Data. Price Action Remains Choppy as Cable Eyes Clarity from US Data. Will September Provide More Clarity? IG Client Sentiment Shows Retail Traders are Net Long on Cable. As We Take a Contrarian View
It’s a quiet start to the day so far with major currencies mostly little changed ahead of European trading. All eyes are on the US non-farm payrolls so that is likely to make for a bit more of a lull in the session to come. China is once again stealing the headlines in Asia as
The Australian dollar is the early mover today after the RBA decision to leave the cash rate unchanged at 4.10% again. The aussie is lower as a result but it isn’t that bad as markets have already priced in this outcome more so than a rate hike. The yen is also softer again with USD/JPY
FTSE, DAX Analysis Recommended by Richard Snow See what our analysts foresee in indices in Q3 FTSE Edges Tentatively Higher Ahead of Massive Central Bank Meetings, Earnings The FTSE Index appears on track to print a sixth consecutive daily gain, putting in a near 6.5% recovery form the low earlier this month. The bullish advance
