The Australian Economy Is on the Brink, Along with the Chinese Prices

In Australia the fact that consumer sentiment in December has fallen off a cliff a fact that lead Bill Evans, Westpac’s chief economist, to say that “this is a very disturbing result” is just another sign of ho sentiment, like deflation, can feed on itself in a downward spiral. You can feel the economy slowing rapidly and the hint of RBA cuts growing.

AUD/USD down to a multi year low of 0.8224

​​The NAB Business Confidence outlook, accompanied by their realigned view of two rate cuts to come in the next 12 months was the main feature of the first half of the session and combined to send the Aud down to a new multi year low of 0.8224. The move was overdone by the time that Europe got going and we have since seen a strong bounce to as high as 0.8370, assisted by lower US bond yields

USD/CHF 4 hour charts suggest downside comes under pressure

​​The dollar is lower today, in line with the firmer Euro, and has made a spike double bottom at around 0.9650 (low today; 0.9652). We are currently back above 0.9700 but the 4 hour charts suggest that it will be the downside that again comes under pressure. Below 0.9650 would run into support nearby at the rising trendline, currently at 0.9625. A break of this would then open up a run towards the first Fibo level

Economic Indicator News »

Visitor Arrivals increased in New Zealand during October

Statistics New Zealand reported that visitor arrivals came in at 8% during...

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8%

Forecast

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Previous

1.2%

Economic Indicator News »

Consumer Price Index in Singapore dipped in October

Statistics Singapore reported that Consumer Price Index came in at 0.1 compared...

Actual

0.1

Forecast

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Previous

0.6

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Fundamental

Attentions turn to US retail sales before Friday's US consumer sentiment

​​The Greenback plummeted during trade on Tuesday as investors looked to safe haven assets and the Japanese Yen amid concerns of political uncertainty in Greece, falling oil prices and Chinese...


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Technical

Euro failed attempt to break above the descending resistance

Technically, the Euro today reached 1.2447 and made another, so far, failed attempt to break above the descending resistance before retreating, to finish the US session sitting right on the 200 HMA at...