Once again we are seeing the market defend the 38.2% retracement of the October to January sell-off at 0.9079
Chris Weston
Pepperstone
Once again we are seeing the market defend the 38.2% retracement of the October to January sell-off at 0.9079. If you look at yesterdays candle on the daily chart it printed a doji pattern, highlighting the indecision in the market. A neutral stance on the pair is warranted, and I am waiting for the market to dictate play. At 11:30 we get Australian Q4 wage costs and the market expects a slight slowdown to 2.5% yoy (from 2.7%). Naturally this is a key input into inflation expectations, so a number below this figure could feed into the idea that inflation in Australia could fall in the coming quarters.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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