On the H4 timeframe, we can see that price have broken out of the descending trendline resistance, signifying a bullish momentum. We can expect price to bounce from pivot in line with 23.6% Fibonacci retracement towards take profit line with 161.8% Fibonacci projection . Our bullish bias is further supported...
Tension all around
Today we look at the tense situation in markets after the hot US October CPI print on October and then yesterday's awkward bank holiday-warped session, as well as whether Fed expectations are really driving the US dollar, not to mention China maintaining its currency near recent lows in USDCNH. Elsewhere,...
Market Quick Take – November 12, 2021
Equity markets closed a bit softer in the US yesterday, but were strong overnight in Asia. The market continues to sort through the implications of the massive swell in inflation numbers after the Wednesday US October CPI data, which sparked the remarkable combination of higher US yields, if lower real...
US Stocks in correction mode
Nasdaq and S&P 500 has formed top and reversal patterns and is ripe for a minor correctionIf joined my Webinar yesterday https://www.home.saxo/insights/events-and-webinars you heard me talking about the US stock markets and how they looked set for a correction. The reason behind my view on a likely correction was the...
Fixed income chart pack for November
Despite the recent bond rally, we find that the uptrend in yields is still intact. Inflation and interest rate expectations are driving pricing in the bond market, causing a bear flattening of the yield curve in the US. In Europe, sovereigns carrying a high beta remain vulnerable to the hawkish...
Will US inflation revive value stocks? Conglomerates are finally dying
If the worsening inflation outlook finally pulls the US 10-year yield to 2% then value stocks are likely in for a period of outperformance against growth stocks. GE's decision to break up its conglomerate of businesses is right one despite investors not seeming to put a big value on it....
FX Update: US inflation reaction: follow through after the kneejerk?
The US October CPI data came in far hotter than expected at new multi-decade highs, jolting markets across the board as Fed rate hike expectations were brought forward. The US dollar strengthened across the board, and so did gold as real yields plunged on the market figuring that the Fed...
Gold rips through major resistance on white hot US CPI print
Gold blasted through $1835 resistance yesterday after US October CPI recorded the highest print in over 30 years. While the rally was supported by US 10-year real yields, which in the immediate aftermath dropped to a record low, it was the ability to move higher despite seeing the dollar hit...
AUD/USD Down on Poor AU Employment Report
AUD/USD - H1 The pair enters its third straight losing day and sheds more than 0.5% on the week, having taken a double hit from high US CPI Inflation yesterday and poor Employment data from Australia today. US Core CPI surged to 4.6%y/y in October versus 4.0%y/y in the previous...
Possible trend shift in CHFJPY – going long
Signal ID: 78221 Time Issued: Wednesday, 10 November 2021 19:00:15 GMT Status: open Entry: 123.852 - 124.236 Limit: N/A Stop Loss: 123.277 The Tidal Shift Strategy has just bought CHFJPY at 124.044. The system recommends entering this trade at any price between 123.852 and 124.236. The signal was issued because...