Dollar slumps again amid more signs of US slowdown, core PCE next Euro see-saws after mixed CPI numbers Stocks extend rally on fading Fed hike expectations, China stimulus Dollar pummelled as soft US data streak continues Expectations of further tightening by the Fed diminished further on Wednesday after more data pointed to a slowing economy […]
WTI oil futures (October delivery) snapped the 81.00 barricade and crawled moderately back above the 20-day simple moving average (SMA), which has been capping upside movements over the past two weeks. While the latest bullish action has turned the attention higher to the former constraining zone of 83.00 and August’s high of 84.15, a durable increase cannot be […]
AUDUSD had been in an aggressive decline after its bullish breakout from the rectangle encountered resistance at 0.6898, validating a double top pattern. However, the pair appears to be attempting a recovery since it managed to halt its retreat at the nine-month bottom of 0.6363 in mid August. The momentum indicators currently suggest that the bearish […]
XM has teamed up with Dapur Pasak, a youth-led charity in Malaysia, to provide food and necessities to the homeless population in Kuala Lumpur. Having a meal and maintaining personal hygiene is often taken for granted, yet for those without stable housing, it can be a constant struggle. XM and Dapur Pasak have distributed nutritious […]
EURUSD picked up steam after German headline CPI inflation arrived slightly higher than expected. A downward revision in the US Q2 first estimates and a surprise dip in the private ADP employment report added extra impetus to the price, sending it as high as 1.0944. The market aims for a new bullish cycle following the […]
As the Q2 earnings season draws to an end and market participants are digesting the Fed’s updated view on the interest rate trajectory and inflation outlook, major US indices are heading for their first monthly loss in six months. Nvidia’s upbeat earnings solidified the view that Artificial Intelligence (AI) is currently the biggest growth lever in the economy, but that did not manage to […]
Chinese markets continued to have bearish vibes in August and international assets that rely on Chinese business conditions suffered too, ultimately reducing global growth potential. On Thursday, China’s National Bureau of Statistics will release new data on manufacturing and services activity, with forecasts pointing to a mixed, but still unfavorable report. Chinese markets suffer China’s […]
The first event of our seminar series in Thailand, titled Expert Techniques for Trading Gold, was a resounding success! Traders from various backgrounds gathered in Bangkok for an insightful session filled with valuable knowledge, expert advice, and networking opportunities. Our esteemed instructors, Sompop Jittrakul and Atiwat Chantasing, presented technical analysis techniques for using the correlation […]
Dollar slides as job openings drop to a 2-1/2 year low ADP report and 2nd estimate of US GDP on today’s agenda Euro awaits German CPIs ahead of Eurozone inflation numbers Wall Street extends gains, Nasdaq the big winner Weak job openings push dollar and yields lower The US dollar tumbled against all the other […]
USDJPY has been in a steady uptrend since the beginning of the year, posting a fresh nine-month high of 147.36 on Tuesday before paring some gains. Undoubtedly, the probability of an impending pullback appears to be heightening as the pair has surpassed the level around where the first round of intervention by the Japanese authorities […]
USDCHF reversed on Tuesday after six weeks of gains, as the bulls became tired near the resistance trendline at 0.8840 from March. The 20- and 50-day simple moving averages (SMAs) came immediately to defend the upleg that started from the eight-year low of 0.8515 in mid-July. Traders might also keep a close eye on the […]
AUDUSD has been trading sideways since the middle of August as its month-long slide came to a halt, while since late August, price action has been centred around the flatlining 20- and 50-period simple moving averages (SMA). During this period, a support base has been established between 0.6380 and 0.6400, while to the upside, the […]
NZDUSD experienced a vast selloff after posting a fresh five-month high of 0.6410 in mid-July. However, in the last few sessions , the bulls have been giving a strong fight around 0.5902, which is the 61.8% Fibonacci retracement of the 0.5510-0.6536 upleg, in an effort to curb the steep decline. The short-term oscillators are starting to reflect that […]
A crucial data week lies ahead as the latest PCE inflation figures are due on Thursday, while on Friday, the August NFP report will mark the end of summer. Both reports will be released at 12:30 GMT. The upcoming numbers look set to attract even more attention than usual this time after Fed Chair Jerome […]
Walt Disney’ stock tumbled to the lowest level since the pandemic crash last Friday before forming a green doji candlestick on Monday around the 82.37 trough. The stock is hovering at a low level that is considered attractive, and indicators like the RSI and Stochastic oscillator confirm that it may be oversold. On the other hand, the price is […]
Dollar traders turn cautious ahead of important data Yen stays pressured as yield differentials stay in the spotlight Wall Street records gains as Powell refrains from committing to more hikes Traders await key US data, Friday’s NFP the highlight The dollar pulled back against most of the other major currencies on Monday, extending gains only […]
GBPUSD had been in a prolonged uptrend since October 2022, storming to a fresh 15-month high of 1.3141 on July 14. However, since then, the pair has been experiencing a prolonged downside correction, with the price falling to a fresh two-month low of 1.2547 last Friday before recouping some losses. The short-term oscillators currently suggest that near-term […]
EURJPY climbed back above its 20-day simple moving average (SMA), aiming to push its 2023 uptrend above last week’s high of 159.47. The upward-sloping SMAs promote the positive trend in the market, but the technical oscillators can’t warrant stronger bullish momentum in the coming sessions. The RSI is maintaining a negative trajectory above its 50 neutral […]
The Fed and the ECB reiterated that inflation remains undefeated and interest rates may remain elevated during the Jackson Hole Symposium last week, but again they refrained from providing any clear signals about what the next rate decision will be. That throws a brighter spotlight on upcoming economic data. Specifically, the US nonfarm payrolls report, […]
The US 500 stock index (cash) had been undergoing a pullback after marching to a fresh 16-month high of 4,606 on July 27. Even though the price managed to rebound at 4,342, which is the 23.6% Fibonacci retracement of the 3,486-4,606 upleg, its upside got capped by the 50-day simple moving average (SMA). The short-term oscillators […]
GBPUSD slid last week, and it is now flirting with the 1.2600 level which appears to be the neckline of a Head and Shoulders (H&S) that’s been forming since June 14. Overall, the pair is trading below the uptrend line drawn from the low of October 12, below the 50- and 100-day exponential moving averages […]
Rate hike odds edge up after Powell and Lagarde signal inflation fight not over But dollar steady as yields barely budge, Wall Street closes higher China announces more stimulus, stocks jump before paring gains Powell strikes a balanced tone Markets were still digesting Powell’s Jackson Hole speech on Monday amid a mixture of relief and […]
Gold had been experiencing a strong pullback following its recent peak at 1,987, with the price falling to a fresh five-month low of 1,884. However, bullion managed to find its footing and recoup some losses, jumping back above the crucial 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces are fading but remain […]
USDJPY got picked up by the bulls again from slightly below the 145.10 barrier, marked by the peak of June 30. Overall, the pair remains in an uptrend mode, well above all three of the plotted exponential moving averages (EMAs) and the uptrend line drawn from the low of March 24. This keeps the technical picture overly positive but […]
Markets have been taunted by shifting Fed expectations over the past week and there’s likely to be more anguish for investors in the next few days as crucial payrolls and inflation numbers are coming up. The August jobs report and PCE inflation readings will be closely watched amid signs the US economy is starting to […]
Bitcoin has been trading within a range during this week as investors and markets are bracing for Jerome Powell’s speech at the Jackson Hole symposium on Friday. Lately, cryptocurrencies have been following moves in stock markets, thus it is highly likely that they will also react to any dovish or hawkish surprise. Given the doom […]
With Lagarde taking off her ultra-hawk armor at the latest ECB gathering and last week’s business surveys pointing to deepening wounds for the Euro area economy, investors have become skeptical as to whether the ECB should press the hike button again in September. Will the Eurozone preliminary inflation numbers, due out on Thursday at 09:00 […]
Traders play defense ahead of Powell’s speech at Jackson Hole Dollar benefits from risk aversion as stocks reverse lower Euro extends losses, Lagarde unlikely to offer helping hand Markets nervous ahead of Powell A sense of nervousness has returned to global markets. Traders seem to be playing some defense, reducing leverage and trimming their risk […]
USDCAD had been stuck in a steep uptrend after finding its feet at the 10-month low of 1.3091 in mid-July. Moreover, the pair has sliced through important technical zones such as both the 50- and 200-day simple moving averages (SMAs), while posting consecutive fresh two-month highs in the last few daily sessions. The momentum indicators currently […]
China has long been the world’s growth engine, but that status is under threat as its economic recovery has hit a major stumbling block and the high-growth era seems to be well and truly over. Exports are falling, consumers aren’t spending much, bank lending is slowing and the crisis in the property sector only seems […]
