Blogs

<p><strong>Australia in recession.</strong> Australia GDP contracted -0.3% q/q in the first quarter of the year, as the economy was hit by bushfires and the first impact of the virus outbreak in China. The second quarter will of course be much worse as the pandemic spread and lockdowns came into effect. Officials already acknowled

<p>In the US, the ADP employment figure is expected to reveal an additional 9.5 million job losses during last month – much better compared to April’s 20 million decline, but still very much worrying for the health of the US labour market. Because it is all about expectations, a better than expected read should support […]

<p>Chinese services PMI printed the first extension since January and the fastest since October 2010, the Australian GDP contracted 0.3% in the first quarter, slightly less than -0.4% penciled in by analysts and the US oil inventories fell 500’000 barrels last week according to the API data. The more official EIA data due today should [&helli

<p>Pivot</p> <p>&nbsp;(invalidation): 36.65 Our preference</p> <p>Long positions above 36.65 with targets at 38.70 &amp; 39.20 in extension.</p> <p>Alternative scenario</p> <p>Below 36.65 look for further downside with 36.00 &amp; 35.55 as targets.</p>

<p>Pivot</p> <p>&nbsp;(invalidation): 18.0700 Our preference</p> <p>Short positions below 18.0700 with targets at 17.7500 &amp; 17.5200 in extension.</p> <p>Alternative scenario</p> <p>Above 18.0700 look for further upside with 18.2400 &amp; 18.3800 as targets.</p>