A lot is riding on tomorrow’s US consumer inflation report for December for markets, which are pricing in relatively upbeat news.

The US and Chinese inflation reports on Thursday and Friday, respectively, are the sets of data that economists will likely be focusing on for the remainder of this week.

As the fiscal stimulus that drove above-average economic growth in the post-pandemic era exits the system and monetary policy remains very tight, economists and investors wonder what comes next.

The EURUSD Elliott Wave Analysis suggests that the market is currently in a corrective phase, potentially following a zigzag structure within black wave 2.

Renault designs, manufactures, markets, and repairs passenger cars and light commercial vehicles. The Company provides financing solutions including credit for new and used vehicles.

The data calendar remains light, but it will get busier on the central bank communications front.

There is no cup and handle pattern in Silver (although there is super bullish potential if it approaches $50), nor is there a bull flag and we have to stop drawing diagonal resistance from the 2011 peak.

At the close of the stock market yesterday, the Dow Jones Index (US30) decreased by 0.42%, while the S&P 500 Index (US500) was down by 0.15% on Tuesday. The NASDAQ Technology Index (US100) closed positive by 0.09%.

How to identify and interpret shortening thrusts to spot a potential reversal and judge the market health.

Before Friday’s open JPMorgan Chase & Co will reveal their Q4 earnings. The performance of JPMorgan has been very strong in 2023.

The dollar has risen by 1% this month, recovering from a 2% drop in December. The Canadian dollar weakened to a nearly four-week low on Tuesday. Data from Canada revealed a narrowing trade surplus to C$1.6 billion in November.

One month after showing signs of bottoming, trade between the U.S. and China plunged in November 2023.

EURUSD has recently broken above the resistance level at 1.0972, suggesting that the downside move from 1.1139 has completed at 1.0876. This breakout indicates a potential for another rise in the coming days.

The recent bond rally - which may not be over - was one for the books. The 10-year US Treasury dropped nearly 120 bps off its yield in only 47 trading days.

In the short term, I'll be looking at the 1.34 level and seeing whether or not we can break out to offer another 100 pips to the upside. 

GBP/USD looks to BoE Governor Andrew Bailey's appearance. USD/JPY rises ahead of tomorrow's US CPI data.

Concerning the GBP, the Governor will be making routine testimony before the UK Parliament at 2:15pm UK time. 

GBP/JPY snaps a two-day losing streak, improving to near 184.40 during the European session on Wednesday.

Shopify share price has rebounded sharply in the past few months. Some analysts have turned pessimistic about the company. The management has shifted its focus to profits.

At the end of the day, the Bitcoin market currently faces a pivotal point near the $47,500 level, with potential support at $45,000 and $40,000.