Price is holding below the descending trendline Potential sell entry at 1.37222 in line with the 78.6% Fibonacci extension . Price is expected to ride down towards the take profit level at 1.3657 in line with 100% Fibonacci extension . Our bearish bias is further supported by price holding under...
XAUUSD approaching pivot, potential for a drop
Price is approaching our pivot level at 1,796.49 which is in line with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance. Price could potentially drop towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA. Stochastic is...
EURUSD approaching pivot, potential for a bounce
Price is approaching our pivot level at 1.16532 which is in line with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level. Price can potentially bounce to resistance at 1.17120, which is in line with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level. Stochastic is also at support level...
Adyen engines at full speed and new payments basket
Today we using the strong earnings release from the Dutch payment company Adyen as springboard for launching our next equity theme basket focusing on the global payments industry.Today, Adyen reported 1H earnings with revenue at €445mn vs est. €423mn and 1H EBITDA of €273mn vs est. €251mn showing that the...
A different breed of market sell-off from the previous six sell-offs this year?
Yesterday's market rout deepened the recent rut in global markets, with the timing making it a bit difficult to call this a taper tantrum, as the selling was most intense at the end of yesterday's trading session in New York, not around the time of the release of the FOMC...
Macro Digest: FOMC marginal change is big deal
Fed Minutes shows conditions in place to taper.Saxo view: Fed still looks at when to start, but there is majority if not consensus that the QE needs to end by H2-2022. This is an extension of Althea argument early in the summer: Too much liquidity means Fed needs to act faster...
Market Quick Take – August 19, 2021
Global markets are in a funk after the FOMC minutes revealed that most Fed officials are ready to taper before the end of this year, a somewhat more hawkish twist than perhaps the market is expecting and a reminder of the fact that the Fed is readying tightening measures even...
German Election Update: A wide-open race
With six weeks to go until the German federal election of 26 September, the race looks more open than ever before. The ratings of Angela Merkel's heir apparent, Armin Laschet, have plunged due to an unconvincing electoral campaign. While the CDU/CSU remains ahead, the SPD and the Greens are now...
Beware, inflation is bearish even for inflation-protected bonds
Is it convenient to buy into inflation-linkers despite their deeply negative yields? Within a rising interest rate environment, we find that it's best to buy into linkers with a hold-till-maturity perspective. Yet, it doesn't make sense to buy into inflation-linked gilts as inflation must run consistently above 3% in the...
FX Update: EURUSD heavy on big support, RBNZ hawkish as it holds.
The EURUSD continues to press down on the big 1.1700 area ahead of the FOMC minutes this evening, which are a possible trigger for the lowest levels of the year. Elsewhere, a modest pick-up in US yields is seeing a bit of consolidation in the JPY strength that marked the...