Price is seen to be holding below the ascending trendline support turn resistance, showing a bearish pressure. We are expecting price to potentially retrace to the pivot level in line with the ascending trendline support turn resistance and the 61.8% Fibonacci retracement level and push back down to the take...
Copper’s long-term bullish potential remains
Industrial metals continue to experience mixed fortunes with a noticeably gab emerging in the performance between copper and aluminum, the two bell weather metals in this sector. With the easy access to copper and deep liquidity it is the industrial metal most often used by investors and speculators. The result...
Market rout deepens. ECB to underwhelm?
Today we look back on another weak day for US equities, and one that spilled over into the Asian session overnight for the first time in a while. In breaking down possible causes, it is clear that rising yields are not among them as the US 10-year treasury auction saw...
Market Quick Take – September 9, 2021
US equities were weak across the board in a choppy session yesterday that saw a late attempt to put together a rally that found little success in holding as the Asian session brought fresh weakness. Elsewhere, a strong US 10-year treasury auction took US yields sharply back lower just after...
Chart of the Week : The slow death of Germany’s Christian Democracy
Our 'Macro Chartmania' series collects Macrobond data and focuses on a single chart chosen for its relevance. Click here to download this week's full edition of Macro Chartmania. German Election Preview published: We have published our preview for the German general election on 26 September. See here for the report. Advantage Scholz:...
Market looks increasingly unsettled. Are rising US yields a trigger?
Considerable divergences within the US market yesterday as the broader market corrected lower even as the Nasdaq 100 Index managed a new all-time highs, ironically so as this index tends to be more interest rate sensitive, and we have the US 10-year treasury benchmark yield perched near upside breakout levels....
Market Quick Take – September 8, 2021
Yesterday saw a mixed session in the US, with the broader market settling a bit lower even as megacaps mostly managed to hold the line. A key focus for the equity market will likely be the long end of the US yield curve, as the US 10-year Treasury benchmark yield...
ECB Call: Looking for slower monthly purchases under PEPP
We expect the ECB will open the door to slower monthly purchases under the PEPP in Q4 - with little market impact.Stronger growth… : ECB minutes from 21-22 July confirmed there is some optimism in the air : « Risks to the outlook remained broadly balanced [...] the possibility of a faster than...
DAX goes 40 but is it enough to avoid chronic underperformance?
The DAX Index is expanding from 30 to 40 stocks approved by the majority of market participants and long waited update to include more high growth companies and industries.Last Friday Qontigo announced an update to its DAX Index, the leading benchmark index on German equities, expanding the number of constituents...
Gold focus turns to bond auctions and potential ECB taper
Gold's recovery following the early August collapse is showing signs of running out of steam after the price once again failed to penetrate an area of resistance towards $1835. With muted buying interest from money managers due to lack of momentum and diversification demand, the recent buying has instead been...