Two compelling patterns with positive risk to reward ratios pointing in the opposite directions for Sterling. See the Elliott Wave counts for GBP/USD and EUR/GBP.
A strong eurozone economy has offset worries over political instability — but for how long?
Preliminary wholesale inventories for October 2017
– was +0.3% (revised to +0.1%)
That dip isn’t going to help Donald Trump get growth to 3%.
US Oct advance goods trade balance data now out 28 Nov
– USD -64.1bln prev
– exports 129,084mln vs 130,334mln prev
– imports 197,381mln vs 194,447mln prev
Soggy trade data as exports decrease and imports increase. Large imports could be considered bull…
PPI data from Canada
– Prior was -0.3%
– Raw materials price index +3.8% vs +3.0% expected
– Prior -0.2%
Commodity prices rose in the month and the Canadian dollar gave back some gains.
US Oct building permits revision just out 28 Nov
– annual rate revised up to 1.316mln from 1.297mln
Good news from the US housing sector.
USD demand continuing with GBPUSD now posting lows of 1.3273, EURUSD 1.1880 but JPY and CHF demand too with USDJPY…
UK govt spokesman speaking to reporters 28 Nov
Working hard? I should hope so. There’s lots to be done and a wide gaps in EU/UK position still.
– UK cabinet had very constructive chat on Brexit
Ah, that’s soooooo reassuring eh?
Italian fin min Padoan speaking in Rome 28 Nov
– end of QE should not be a cause for concern
– positive impact of higher interest rates not be undervalued
No further comments published at present.
News out a short while ago but still unconfirmed 28 Nov
Republic of Ireland’s deputy PM Frances Fitzgerald’s resignation over her link to proposed smear campaign against a police detective should prevent a no confidence vo…
Today, we looked at potential set-ups in precious metals, oil, and several major global equity indices.
German Dec GFK consumer confidence data now out 28 Nov
– 10.7 prev
Ntg to see here
The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which a…
Forex news for the European morning trading session 28 Nov 2017
A session that’s provided a few opportunities even if it hasn’t produced many answers.
Technical analysis offers a lot of instruments to determine important levels. We draw these levels through previous highs and lows, find them with the help of Fibonacci tools and pivot points, trendlines etc. At first sight, the theory is simple: when …
International Energy Agency chief Fatih Birol speaking to Reuters
On the day, WTI crude is down 0.95% to $57.56. Meanwhile, brent is down 0.88% trading at $63.28.
FX desks scared of their own shadow again 28 Nov
USD demand returning as traders/bots still try to find today’s weak spot.
USDCHF up to 0.9835, USDCAD 1.2805, EURUSD down to 1.1878, GBPUSD down to 1.3288, AUDUSD breaching 0.7600, NZDUSD…
Currently trading around the $9,850 level
It feels like it’s only a matter of time till it happens, doesn’t it?
As more institutional investors get their hands on the cryptocurrency, you can’t help but feel that the party is going to keep on going. And…
Here’s the latest on other key pairs 28 Nov
Note: Offers = Sellers at these levels. Bids = Buyers at these levels.
These orders, and the others I post, are generally good until filled/ level breached.
The latest OECD report shows that while growth in the Euro Area is currently strong, it will dip back to 1.9% in 2109.
Latest OECD GDP forecasts just out 28 Nov
– global growth is strengthening but longer-term challenges remain
– policy stimulus is supporting upturn but pvt investment recovery is modest
OECD chief economist Catherine Mann concludes: