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US Unemployment Claims tick up

USDJPY, H1 US initial jobless claims rose 9,000 to 745,000 in the week ended February 27 following the -98,000 plunge to 736,000 in the February 20 week. That brought the 4-week moving average down to 790,800k from 807,500. Claims not seasonally adjusted rose 31,500 to […]

Amazon Higher As UK Grocer Opens

Amazon Lower On Year Shares in tech giant Amazon are trading higher today ahead of the US open. The company’s stock price has been on a steady decline from the yearly highs printed above the 3400 level, taking price down to recent lows around the […]

How Will the End of Lockdowns Across the US Affect the Markets?

The US is about to cross an important covid vaccine threshold of reaching a quarter of the population getting at least their first dose. While this would exceed the percentage of people over the age of 65, the rollout hasn’t been as concentrated. So far, […]

USDCNH Cycle Correction Hints At Impulse Growth

The current USDCNH formation hints at a large zigzag of a cycle degree. This recently completed the bearish correction b which took the form of a triple zigzag. On the 1H timeframe, the final part of correction b, and the bearish impulse (C) of the […]

USDJPY hits 7-month high

Since January this year, the USDJPY has recorded an increase of about 4% from a low of 102.58 to a 27-week high. As of yesterday’s close, the currency exchange recorded 106.67. Obviously, in 2021, the attractiveness of the US Dollar far exceeds that of the […]

Oil Rallies Despite Massive Inventories Build

Crude Stocks Soar Following two days of declines, oil prices shot higher midweek. The latest report from the Energy Information Administration showed a mammoth build in US crude stockpiles. The EIA reported that in the week ending February 26th, US crude inventories rose by 21.6 […]

Intraday Market Analysis – Channel Trade

EURAUD capped by falling channel Despite Australia’s soft retail sales number, the euro remains under technical pressure. The pair has been sliding within a bearish channel since last October and the eurozone’s retail reading today is unlikely to change the course. As the pair rebounds […]

The Markets in Waves: Euro​ & Gold​ Approach Interesting Levels

Welcome to the Orbex daily Elliott Wave update! In today’s video, our Head of Investment Research Stavros Tousios dives into the top opportunities the markets have in store for us. Asset TimeStamps: EURUSD​​ 00:30​ XAUUSD​​ 02:25​ AUDJPY​ 04:15​ EURCHF​ 05:50​ Join our responsible trading community […]

Market Update – March 4 – Ahead of Powell & OPEC

Reflation trades are back with a vengeance, pushing pressure on stock markets as yields rise. Treasuries managed to stabilise somewhat overnight, after a sell off yesterday saw rates pushing higher again, but across Asia bonds as well as stocks sold off. Markets are looking ahead […]

NFP: Major divergence in estimates

US ADP reported private payrolls increased 117k in February, well below forecast (177k), though the 174k January gain was revised higher to 195k. The service sector supported the increase, with jobs rising 131k. In this sector, trade/transport led with a 48k increase, followed by education/health […]