AUD/USD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 0.8102. As long as the price is below the trend line, the bounce from 0.7732 could be treated as consolidation of the downtrend. Further decline could be expected after the consolidation and the next target would be at […]

Price formed a triangle correction of a lower degree within wave iv), that caused a drop down into a fifth wave last week, to 1.1660 level that we highlighted it as a potential support. The market turned up slightly on Friday from that zone which may lead to more euro recovery, but for an important […]

The Office for National Statistics on Monday said it made an error during the original calculations and that cost per unit output stood at an annual 2.4 percent in the second quarter, not the previously reported 1.6 percent. Also, the first quarter number was revised up to 3.5 percent, the fastest in almost four years. […]

The US dollar’s advance faltered before the weekend after a rise in average hourly earnings and a new cyclical low in unemployment and  underemployment initially fueled greenback buying. There is no doubt the data was skewed by the storms, though the upward revision to the August hourly early cannot be attributed to the weather distortions. The reversal in the dollar before the […]

Summary: RBA maintains interest rates at 1.50% RBA signals that interest rates will remain steady in the near term RBA upbeat on unemployment, expects wage growth to rise Low inflation on account of oil prices, but wage growth could see giving rise to inflation GDP growth consistent with a pickup in non-mining investment The Reserve […]