That PPI Data Gives Strength for The US Dollar Against The Euro

Forex

Summary:

Blending fundamental analysis of economic indicators with technical analysis of chart patterns. It focuses on the US dollar's strength post-positive data and the euro's potential decline amid anticipation of ECB rate adjustments.

SELL EURUSD

Close Time

CLOSED

1.09046

Entry Price

1.08234

1.09453

1.03817 -0.00201 -0.19%

31.9

Pips

Profit

1.08234

1.08727

Exit Price

1.09046

Entry Price

1.09453

Fundamental Analysis

The US dollar displayed resilience in today's trading session, buoyed by promising data from the Bureau of Labor Statistics regarding the Producer Price Index (PPI). The report revealed a robust growth of approximately 1.6% on an annual basis, surpassing market expectations. This uptick in the PPI, which measures changes in prices received by domestic producers, excluding food, energy, and trade services, is significant as it serves as an early indicator of inflation in the United States. The positive outlook for inflation can influence the Federal Reserve's decisions regarding interest rates, thereby bolstering the momentum of the US dollar. That PPI Data Gives Strength for The US Dollar Against The Euro _1

That PPI Data Gives Strength for The US Dollar Against The Euro _1

U.S. PPI YoY (Feb)

U.S. PPI MoM (SA) (Feb)

Conversely, the euro faced downward pressure against the US dollar, declining by 0.2% to 1.08873. This decline occurred despite the absence of significant economic data in the Eurozone, suggesting that external factors are at play. Traders are closely monitoring the European Central Bank's (ECB) stance on interest rates, with expectations mounting for potential rate cuts in response to slowing growth, particularly in economic powerhouse Germany.

Technical Analysis

Examining the 4-hour chart of the EUR/USD currency pair, we observe a price hovering around 1.08873. Technical analysis suggests a retracement to the previous supply zone at 1.09000, followed by a downward movement towards the previous demand zone at 1.08000. This projection is supported by the 20-period moving average pointing downwards, indicating a bearish trend. Additionally, the formation of lower highs and lower lows on the chart signals a potential continuation of the downtrend.

Of particular note is the false breakout observed on the daily chart, further corroborating the bearish bias. False breakouts occur when the price briefly breaches a significant level but fails to sustain momentum, often leading to a reversal in the opposite direction. Traders should exercise caution and monitor price action closely for confirmation of the anticipated downward movement. That PPI Data Gives Strength for The US Dollar Against The Euro _3

That PPI Data Gives Strength for The US Dollar Against The Euro _3

EURUSD Price Chart

Trading Recommendation

Trading Direction: Short

Entry Price: 1.09046

Target Price: 1.08234

Stop Loss: 1.09453

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

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Eva Chen

Forex

Central Bank

Summary:

Australia's NAB Business Confidence fell to 0, with cost pressures remaining significantly high. The Reserve Bank of Australia may verbally pivot to a neutral stance next week.

SELL AUDUSD

Close Time

CLOSED

0.65976

Entry Price

0.64870

0.66930

0.62816 -0.00012 -0.02%

66.3

Pips

Profit

0.64870

0.65313

Exit Price

0.65976

Entry Price

0.66930

Fundamentals

In February, Australia's National Australia Bank (NAB) Business Confidence Index fell from 1 to 0. Business conditions rose from 7 to 10, trade conditions from 9 to 14, profit conditions from 6 to 9, and employment conditions from 5 to 6.

Cost pressures remain a major concern, with labor (quarterly at 2.0%) and purchase costs (1.8%) growth remaining unchanged. Product price growth increased from 1.1% to 1.3%, while retail price growth increased from 0.9% to 1.4%.

Alan Oster, Chief Economist at NAB, noted that cost pressures "clearly remain elevated," with businesses having room to pass these pressures on to consumers.

He emphasized the role of global supply improvements so far in driving the inflation process, cautioning that future progress is "unlikely to be linear."

Oster stated that the path to inflation returning to the Reserve Bank of Australia's (RBA) target range by 2025 is uncertain. He predicted the RBA would adopt a "cautious approach," keeping rates "to be on hold for most of this year."

However, Goldman Sachs lowered its inflation expectations for Australia in 2024 and suggested that the RBA might start cutting rates from August.

Goldman Sachs currently forecasts a quarterly annualized growth rate of 2.8% for overall CPI in the first quarter of Australia, down from a previous forecast of 3.6%. It expects the annual inflation rate to decrease from the current 4.1% to 2.7%, lower than its previous forecast of 2.9%. The inflation outlook now significantly below the RBA's forecasts, which expects inflation to remain above the target range of 2%-3% by the end of 2025. The RBA is expected to begin cutting rates in August, ultimately lowering the policy rate to 3.25% by mid-2025.

Market Outlook: RBA Governor Philip Lowe is expected to maintain a balanced view of economic prospects at the central bank's policy meetings on Monday and Tuesday. This is likely to include a "verbal pivot" to a neutral stance. The extent of the decline in Australian inflation was somewhat unexpected. However, the rapid growth of unit labor costs remains concerning, as this is the most relevant measure of inflation-related labor costs. Therefore, it would be wise for the RBA to avoid declaring victory.

Further Bullish Momentum Could Reactivate Short Positions_1

Technical Analysis

Last week, the bullish momentum of the AUDUSD pair regained strength after breaking through several resistance zones, briefly surpassing the key 0.6650 level. However, subsequent pullbacks significantly weakened the upward momentum.

Technical indicators are sending mixed signals. Although the nearby support area at 0.6600 has limited downward movements, there remains a glimmer of hope.

Continued consolidation could evolve into an upward trend. A breakout above 0.6666 will restore the rebound from the 61.8% Fibonacci retracement level of 0.6442 to 0.6877. Sustaining levels above this point would indicate a potential recovery of the overall rebound from 0.6269 which began at 0.6442.

However, we believe that further bullish momentum may not be straightforward. The significant correction in the previous period has indicated a need for trend adjustment, and the current adjustment may not yet be complete. Further bullish momentum could reactivate short positions. Continued falls below the 55 EMA in the 4-hour chart would revive bearish sentiment in the short term and retest the low point at 0.6442.

Taking a broader perspective, the price action from 0.6169 is considered a mid-term corrective pattern of the downtrend from 0.8006. The decline initiated from 0.7156 is viewed as the second phase, which may still be ongoing.

Overall, the AUDUSD pair is currently in a neutral zone, awaiting clear closes above 0.6620 or below 0.6583 for a new direction. In terms of trading, it is recommended to prioritize strategic positioning.

Trading Recommendations

Trading Direction: Short

Entry Price: 0.6625

Target Price: 0.6487

Stop Loss: 0.6693

Valid Until: 2024-03-28 23:55:00

Support Levels: 0.6584, 0.6575, 0.6560

Resistance Levels: 0.6639, 0.6653, 0.6667

Risk Warnings and Disclaimers

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Eva Chen

Forex

Central Bank

Summary:

The USDCAD remained in negative territory for the second consecutive day, disappointing the market. The US dollar's resumption of its decline and breaking below the 103.00 level were important factors dragging down the asset. The market may need another bottom test before accelerating higher.

BUY USDCAD

Close Time

CLOSED

1.34867

Entry Price

1.37030

1.33400

1.42939 -0.00140 -0.10%

103.7

Pips

Profit

1.33400

1.35904

Exit Price

1.34867

Entry Price

1.37030

Fundamentals

After testing the recent low of 1.3420, the USDCAD showed relatively strong performance midweek, being the only major currency to completely rise. However, due to the delayed rebound of the US dollar, the asset remained in negative territory for the second consecutive day, disappointing the market. Investors are currently awaiting the release of US retail sales data later today to seek new momentum.

The current market expectation is for a 0.8% month-on-month increase in February retail sales data. Investors will glean more clues from the US February retail sales data, as it could impact the next steps of the Fed at its March meeting scheduled for next week. A stronger report may convince the Fed to pay more attention to further data and refrain from rushing to cut interest rates.

Meanwhile, higher-than-expected US inflation data earlier this week might prompt the Fed to hold off on interest rate cuts until at least the end of summer. Overall CPI rose 3.2% year-on-year from January's 3.1%, while core CPI decreased from 3.9% to 3.8%. If today's data continues to be strong, it could boost the US dollar and provide momentum for the USDCAD.

On the other hand, as expected by the market, the Bank of Canada maintained interest rates unchanged earlier this month. Bank of Canada Governor Tiff Macklem emphasized that bringing inflation down to target levels is the central bank's top priority. The market expects the Bank of Canada to refrain from aggressive actions or interest rate cuts before the Fed, which could be a potential factor supporting the strength of the Canadian dollar in the near term.

Finally, rising oil prices also boosted the Canadian dollar linked to commodities, as Canada's largest export is crude oil. The increase in oil prices serves as an additional factor supporting the Canadian dollar.

Market May Need Another Bottom Test Before Accelerating Higher_1

Technical Analysis

The outlook for the USDCAD remains unchanged, with a tendency towards maintaining a neutral to downward bias during the session. Given that the recent weakness in this asset is attributed to the softness of the US dollar, the bearish momentum may persist, with expectations of not breaking new lows. If it breaks below 1.3420 again and remains below the support at 1.3439, it will indicate that the rebound from 1.3176 has been completed, serving as a corrective move towards 1.3605, and the next outlook could continue to be bearish, with support at 1.3357. In such a scenario, the USDCAD may need to find significant support in the 1.3200-1.3250 area. This range has repeatedly acted as a significant support for the pair last year.

However, on the positive side, a break above the minor resistance level at 1.3524 would revive bullish sentiment in the near term and shift bias back to the upside, aiming to retest the resistance level at 1.3605.

Taking a broader perspective, the price movement since 1.3976 is only considered a corrective pattern. In the event of further declines, the resistance level at 1.2947 should provide strong support and lead to a rebound. Overall, the larger uptrend since 1.2005 is still expected to recover towards 1.3976 in the later stages.

Trading Recommendations

Trading Direction: Long

Entry Price: 1.3440

Target Price: 1.3703

Stop Loss: 1.3340

Valid Until: 2024-03-28 23:55:00

Support: 1.3449, 1.3420, 1.3413

Resistance: 1.3479, 1.3525, 1.3540

Risk Warnings and Disclaimers

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Jason

Summary:

Various signs indicate that the probability of the Bank of Japan ending negative interest rates is increasing. Currently, all eyes are on the outcome of wage negotiations, which seem to have had a promising start based on yesterday's gradually disclosed results.

SELL USDX

EXP

EXPIRED

148.428

Entry Price

146.448

149.256

107.520 +0.080 +0.07%

Pips

EXPIRED

146.448

103.908

Exit Price

148.428

Entry Price

149.256

Fundamentals

The USD/JPY rose marginally by 0.07% overnight as annual wage negotiations commenced yesterday, keeping market sentiment relatively cautious and limiting the volatility of the USD/JPY pair. In last spring's wage negotiations, Japanese companies saw the highest increase in wages in nearly 30 years, with a median wage increase of 3.8%.

This year's wage negotiations have seen significant increases, with an average wage increase of 5.32% reported by 60 affiliated unions in the metal, machinery, and manufacturing industries, far surpassing last year's levels. Major Japanese corporations such as Toyota, Panasonic, Nippon Steel, and Nissan have agreed to fully meet union demands for wage increases. Preliminary negotiation results suggest that many Japanese workers will see the largest wage increases in decades.

As Japan's largest labor union, the Japanese Trade Union Confederation (Rengo) will collect member wage data on March 15th and announce the results of the first round of wage negotiations. The wage increases announced by Rengo serve as a guide for the overall annual wage increase in Japan. If the wage increases announced by Rengo on Friday exceed last year's actual wage increase of 3.8%, it will further bolster confidence within the Bank of Japan to raise interest rates this month.

Additionally, Japan's revised GDP for the fourth quarter was adjusted from -0.1% to 0.1%, and the annualized GDP growth rate was adjusted from -0.4% to 0.4%, avoiding a technical recession.

Data from Japan's Ministry of Health, Labour and Welfare released last Thursday (7th) showed that nominal cash earnings rose by 2% year-on-year in January, higher than the revised 0.8% increase in December and exceeding expectations (1.2%). Real wages decreased by 0.6%, a smaller decline than expected and the lowest decrease in a year. Clearly, wage growth is accelerating.

All indications suggest that the likelihood of the Bank of Japan ending negative interest rates is increasing. All eyes are now on the outcome of wage negotiations, which seem to have had a promising start based on yesterday's gradually disclosed results.

In his speech on Wednesday, Bank of Japan Governor Kazuo Ueda also emphasized the importance of the annual spring wage negotiations between businesses and unions in determining when to gradually exit its massive stimulus program.

Currently, the market's expectation for the Bank of Japan to end negative interest rates in April is the highest. However, with the promising start to wage negotiations, expectations for ending negative interest rates in March are gradually rising. It can be anticipated that once the results of tomorrow's first-round negotiations are announced, expectations for ending negative interest rates in March will further increase.

Technical Analysis

In the 4-hour chart, the USD/JPY is currently in a rebound phase, temporarily facing resistance at 148.428, which coincides with the Fibonacci retracement level of 0.236. Breaking above this level could lead to a challenge of the upper bound of the downward channel at 150.693. Short-term strong support is seen at 147.623.

In terms of indicators, the baseline and turning line are both moving sideways, with the price above both lines and forming a certain distance from them, indicating a potential downward movement for the USD/JPY after a minor uptrend. In the DMI indicator, the +DI and -DI lines are entangled, suggesting a temporary lack of clear direction. Future market direction will largely depend on whether the -DI crosses below the +DI; if it does, it would imply a forthcoming decline in the USD/JPY after a minor uptick.

Overall, it may be worth considering shorting USD/JPY.

Wage Negotiations Kick Off Well, Expectations of Rate Hike Gradually Rise_1

Trading Recommendations

Trading Direction: Short

Entry Price: 148.428

Target Price: 146.448

Stop Loss: 149.256

Support: 147.751, 147.320, 146.879

Resistance: 148.130, 148.428, 148.768

Risk Warnings and Disclaimers

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Peterson

Commodity

Summary:

Today's oscillation range should be $2150 - $2195, and it is better to buy low and sell high.

SELL XAUUSD

EXP

EXPIRED

2195.00

Entry Price

2150.00

2200.00

2855.68 -11.62 -0.41%

Pips

EXPIRED

2150.00

2162.61

Exit Price

2195.00

Entry Price

2200.00

Fundamentals

During Thursday's (March 14th) Asian session, spot gold oscillated narrowly, and it is now trading at $2171.

Yesterday, there was not much news. Yellen said U.S. interest rates were unlikely to fall back to the level before the pandemic, while the slowdown in rental gains would drag inflation back down, which was hawkish. However, with the decline in the USDX, gold prices regained momentum and closed the daily chart with a big bull candle. Gold recovered Tuesday's losses, and silver, more like an industrial commodity, rose even better under the appreciation of oil and copper. Despite the fact that current inflation is still high, the market optimism is not affected, and it is still strong when global geopolitical issues remain and buying from emerging countries provides support. Moreover, this year's monetary policy is easing. Now, as long as the gold price stays above $2150, the bullish trend will not fade. After yesterday's pull-up to recover losses, today's gold price is also difficult to rise or fall. Thus, we should focus on tonight's employment data and PPI data. Meanwhile, the resistance above will be at $2195, and the important support will be at $2150.

Yesterday, gold oscillated narrowly in the Asian session, and surged to $2172 in the U.S. session. Then, it retraced to $2163 and rebounded again when the USDX declined. Our recommendation was to trade in the range of $2140-$2170, and the largest floating profit was 7 dollars (over the amount for each stop-loss) if we went short at $2170. Then, gold depreciated and returned to the lower level. In trading, the easiest way is to unconditionally implement a system that has been verified for a long time. We don't need to judge by ourselves, but trade according to the signal during the session.

Today's focus: The U.S. PPI, initial jobless claims, and retail sales data.

Technical Analysis

Yesterday, gold oscillated at highs in the Asian session. It ascended again in the U.S. session and reached its highest price at $2180. Then, gold fell slightly and closed the daily chart with a bull candle, recovering the previous decline. In addition, gold stayed above the keep support at $2150, and now it enters another oscillating pattern. Currently, there are several supportive factors for gold, while the recent appreciation in gold suggests the demand for a retracement. With support from both sides, the future gold price will be determined by the amount of capital on each side. Nonetheless, the oscillation will not last long and may end this evening. Thus, investors should manage their risks as soon as possible.

The huge rebound yesterday explained the domination of gold bulls. If a consolidation emerges, buying orders will push up gold prices. It is sure that this will not happen instantly, and we should not guess to progress. The best way to handle is to get prepared. In the 1H chart, the oscillation is clear at the 60-day SMA, and this pattern will continue in the near term. Moreover, MACD forms a death cross, suggesting a retracement later. Regarding the 4H chart, the overbought situation in MACD has improved, but the death cross still exists. Now, the rebounding momentum is weakened and gold should retrace soon. In the daily chart, a bullish piercing appeared yesterday, showing a huge difference compared to the pattern the day before yesterday. The continuation is dissatisfying, and the MACD stays in the overbought zone, indicating the need for a retracement. Later, gold may move horizontally for gold bulls to take profits, or may extend the pattern in July 2020, surging up to build a top and then declines. However, the space above is limited in the short term, and we should focus on the resistance at $2195. Today, the trading range should be $2150-$2195, where aggressive investors can buy low and sell high with more considerations to sell at highs. USD Weakens and Gold Rebounds_1

Trading Recommendations:

Trading direction: Short

Entry price: 2195

Target price: 2150

Stop loss: 2200

Support: 2150.000/2120.000

Resistance: 2180.000/2195.0

Risk Warnings and Disclaimers

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Warren Takunda

Forex

Economic

Summary:

Despite a minor dip in business confidence, the Australian dollar remains stable near the 0.66 level. The NAB Business Confidence index slipped to zero in February, but the AUD/USD pair continues to trade positively

BUY AUDUSD

Close Time

CLOSED

0.66219

Entry Price

0.67280

0.65700

0.62816 -0.00012 -0.02%

51.9

Pips

Loss

0.65700

0.65698

Exit Price

0.66219

Entry Price

0.67280

The Australian dollar remains hovering around the 0.66 mark, where it has predominantly stayed throughout the week. During the North American session, AUD/USD is currently trading at 0.6620, showing a modest increase of 0.21%.

NAB Business Confidence dips to zeroSentiment within the business sector regarding the short-term outlook of the Australian economy has taken a hit. The NAB Business Confidence index decreased to zero in February, sliding from one in January, although it managed to surpass the forecast of -1. Notably, the NAB report highlighted deeply negative sentiments in the retail sector.

However, there was a silver lining in the form of the NAB Business Conditions index, which saw an uptick to 10 in February, compared to 7 in January. Despite this overall improvement, the retail and construction sectors showed signs of weakness, while manufacturing exhibited some positive developments.

Australia's economy has been facing challenges, with consumers continuing to feel the pressure of a cost-of-living crisis and elevated mortgage payments. The Reserve Bank of Australia (RBA) has refrained from reducing the elevated interest rates, having only raised rates once since June 2023. Nevertheless, market expectations suggest rate cuts may be on the horizon later this year.

The RBA is unlikely to consider rate cuts until inflation levels decrease. In January, the Consumer Price Index (CPI) recorded a 3.4% year-on-year increase, remaining significantly above the RBA's target range of 2-3%. With the next RBA meeting scheduled for March 18th, it is widely anticipated that the cash rate will remain unchanged at 4.35%.

Thursday will see significant activity in the US, with the release of retail sales, the producer price index, and unemployment claims. Retail sales data, in particular, is closely monitored as it often impacts the market. Expectations are for a strong rebound in February, with estimates indicating a month-on-month increase of 0.8%, following a 0.8% decline in January, which marked a 10-month low.

Technical Analysis

AUDUSD price resumes its upward trajectory following a decline in previous sessions, the AUDUSD price has resumed its upward momentum and is currently at the 0.6640 level. There is anticipation of a breach of this level to confirm an extension of the bullish trend towards 0.6728. The presence of a double bottom pattern continues to support expectations for further gains, with validity maintained unless the price breaks below 0.6570 and remains below it. The expected trading range for today is between 0.6580 support and 0.6680 resistance.

TRADE RECOMMEDATION

BUY AUDUSD

ENTRY PRICE : 0.6640

STOP LOSS : 0.6570

TAKE PROFIT : 0.6728

Risk Warnings and Disclaimers

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Jason

Summary:

SELL USDX

Close Time

CLOSED

103.000

Entry Price

102.545

103.515

107.520 +0.080 +0.07%

51.5

Pips

Loss

102.545

103.517

Exit Price

103.000

Entry Price

103.515

Fundamentals

Global markets went opposite to what the data indicated—everything rose except for the dollar—on the second trading day following the release of US inflation data. This means that the rebound in inflation has not affected the market's view on the Fed's rate cuts. The response of the entire financial market to inflation data remains stagnant and uncertain, indicating that the February CPI data is only for reference. More data is needed to determine the following trend.

These data would not change the Fed's plan to leave interest rates unchanged at the upcoming meeting, but they could potentially affect the rate-cut plan later this year (the Fed had anticipated three 25bp cuts within the year), Nick Timiraos, a Wall Street Journal journalist, wrote shortly after the CPI data release. He warned that there might be changes in the dot plot due next week. This may be the last thing we can know from the Fed as it has entered a "blackout period."

A similar situation occurred in June 2022. After the CPI release, the Fed entered a "blackout period." At that time, the market generally expected a 50bp rate hike, but Timiraos wrote in an article that the unsettling inflation report could lead Fed officials to consider an unexpected 75bp hike at this meeting.

In the end, there was a 75bp rate hike. Fortunately, investors promptly accepted Timiraos' opinion and adjusted their views, and thus a shock in the financial market was avoided.

Now, Timiraos warns that there may be changes in next week's dot plot, which warrants serious consideration.

If there is indeed a change in the dot plot, it will have a huge impact on the market.

US February PPI, retail sales, and initial jobless claims data will be published today. The three indicators reflect inflation, economic vitality, and labor market conditions, respectively. The data that deviates significantly from market expectations will have a decisive impact on the market trend. The initial jobless claims data, which was less important, now is capable of intensifying speculation about a weaker or tighter US labor market.

Considering investors' reaction to the US February CPI (which has been priced in by investors after Powell's speech last week and the non-farm payrolls) and their focus on the upcoming Japanese wage negotiations on Friday, the US dollar index is not expected to fluctuate lot today (with a slight downward bias), but tonight's data carry decisive significance. If these data are strong, combined with the performance of the January and February CPI, they may lead the market to believe that inflation is becoming stubborn. Considering Timiraos' remarks, the market may develop expectations of the Fed making fewer rate cuts.

Technical Analysis

In the 4-hour chart, the US dollar index remained fluctuating in a narrow range, blocked by the bottom of the historical range of 103.793-102.981. The price is currently hovering around this level, and a breakthrough could lead to further upside. The short-term strong support is at 102.763, with key support at 102.545, which is the 0.618 Fibonacci retracement level and also the bottom of the downward channel.

In terms of indicators, in the Ichimoku Cloud, the Turning Line is approaching the Base Line and is likely to cross below it, but the current price is rising and temporarily blocked by the Turning Line. This indicates that the US dollar index may rise before declining. In the DMI, the ADX line shows a weakening downside momentum, indicating a "recovery" in the downward momentum of the US dollar index. The -DI is moving sideways and the +DI is declining and at 15.6 now, indicating that the US dollar index may edge up in the short term followed by a decline.

Overall, shorting the US dollar index can still be considered for the day.

Market Expectations May Change After Key Data Release_1

Trading Recommendations

Trading Direction: Short

Entry Price: 103.0

Target Price: 102.545

Stop Loss: 103.515

Support: 102.763, 102.545, 102.232

Resistance: 102.981, 103.160, 103.456

Risk Warnings and Disclaimers

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That PPI Data Gives Strength for The US Dollar Against The Euro

Fundamental Analysis

U.S. PPI YoY (Feb)

U.S. PPI MoM (SA) (Feb)

Technical Analysis

EURUSD Price Chart

Trading Recommendation

Further Bullish Momentum Could Reactivate Short Positions

Fundamentals

Technical Analysis

Trading Recommendations

Market May Need Another Bottom Test Before Accelerating Higher

Fundamentals

Technical Analysis

Trading Recommendations

Wage Negotiations Kick Off Well, Expectations of Rate Hike Gradually Rise

Fundamentals

Technical Analysis

Trading Recommendations

USD Weakens and Gold Rebounds

Fundamentals

Technical Analysis

Trading Recommendations:

Australian Dollar Holds Firm Despite Downtick in Business Confidence

Market Expectations May Change After Key Data Release

Fundamentals

Technical Analysis

Trading Recommendations

Risk Disclosure