The Euro’s slide against the US dollar continues and unless data out next week surprises to the upside, EUR/USD will continue to make fresh two-decade lows. more...
The GBP had a disappointing week against its major counterparts with the Bank of England’s (BoE) underwhelming 50bp hike adding to its woes. Will the coming week bring much needed optimism for the Pound or will the slide to parity continue? more...
Technical analysis shows brent crude possibly in for further downside as $90 looks to trade support for resistance. The daily price is in oversold market condition and located below 200 SMA in the bearish area of the chart: the price is breaking support level at 87 to below for the bearish trend to be continuing. Alternatively, the price will be on secondary ranging within the s/r levels. more...
The Australian Dollar movements remain dependent on US Dollar fluctuations as the Fed’s decision to hike by 75 basis points illustrates the impact of the world’s largest central bank. The daily price broke Ichimoku cloud to below for the primary bearish reversal: the price is on testing the Fibo support level at 0.6510 for the bearish trend to be continuing. more...
The UK private sector shrank at the fastest pace since early 2021 on the negative impacts of high costs and a weaker economic outlook, flash survey results from S&P Global and the Chartered Institute of Procurement & Supply showed Friday. The composite output index came in at a 20-month low of 48.4 in September versus 49.6 in the previous month. The score was forecast to ease moderately to 49.0. more...
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