Nonfarm payrolls coming up, forecasts point to a solid report Dollar winning streak set to extend to 12 weeks if data is solid Gold stabilizes as yields calm down, but oil prices crash Nervous markets brace for nonfarm payrolls A fragile sense of calm has returned to global markets ahead of the latest round of […]
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AUDUSD pivots higher near familiar support Short-term risk remains skewed to the downside Next resistance expected to emerge near 20-SMA AUDUSD found shelter near the descending line drawn from December 2022 for the fifth time, avoiding any declines below the 0.6300 round level. The RSI and the stochastic oscillators have deviated above their oversold […]
USDCAD in an aggressive advance, smashing previous resistance zones Formation of a golden cross boosts bulls’ appetite Momentum indicators ease but remain deeply positive USDCAD managed to totally erase its recent downside correction and edge higher towards a fresh six-month peak of 1.3784. However, the pair has surrendered some gains in the last couple of sessions […]
Earnings parade unofficially starts next week as stocks undergo a downside correction A 0.1% annual earnings drop projected for the S&P 500, forecasts revised higher Surging Treasury yields bite stocks, raging dollar an additional headwind US indices retreat as investors face ‘higher for longer’ reality In the third quarter, US stocks gave back some of their impressive […]
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USDCHF’s strong rally since July appears to have stalled This is the first attempt by the bears to regain market control Momentum indicators could be close to sending bearish signals USDCHF is edging higher today, trading a tad below the 0.9187 level as the bears are trying to show their strength after a very aggressive […]
AUDUSD in the green again today, trading above the early September trough Bulls defended the March 10, 2023 descending trendline Current upleg does not enjoy the support of momentum indicators AUDUSD is recording its second straight green candle as the bulls are trying to stage a comeback. They have successfully defended the March 10, 2013 […]
Bitcoin in a steady advance, jumping above crucial descending trendline Despite the jump above 28,000, 200-day seems a tough obstacle Death cross points to losses but momentum indicators diverge BTCUSD (Bitcoin) has been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. Interestingly, the completion of a […]
Stock markets have retreated lately, as bond yields stormed higher But equity valuations are still stretched and earnings growth is stagnant Sky-high yields and global slowdown could keep markets under pressure Stocks drop as yields soar The phenomenal rally on Wall Street lost some steam in the third quarter, mostly because of the seismic moves […]
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Oil rally at risk near 84.00 after latest freefall Bearish continuation likely, but patience required WTI oil futures closed with heavy losses on Wednesday near a one-month low of 84.16 following the rejection near the 20-day simple moving average (SMA) at 89.40. The 50-day SMA put the brakes on the bear run marginally below […]
ADP reveals less-than-expected increase in private payrolls Dollar retreats as investors lower their implied Fed rate path Yen gains, but long-lasting recovery remains questionable Wall Street bounces off lows, oil tumbles Dollar slips as ADP report disappoints The US dollar pulled back on Wednesday and continued trading on the back foot today, after the ADP […]
Gold posts eighth straight daily loss, touching its lowest levels since March Decline shows no signs of easing, widening Bollinger bands point to high volatility Oscillators deep in oversold zone for quite some time, bulls remain on the sidelines Gold has been in a steep downtrend after violating both its 50- and 200-day simple moving averages (SMAs). Even though the […]
US 30 cash index edges higher, a tad above the May 25 low The short-term bearish trend remains dominant Momentum indicators don’t point to a reversal yet The US 30 cash index is trying to record the second consecutive green candle since it managed to bounce off the 50% Fibonacci retracement of the January 5, 2022 – October […]
EURGBP extends its pullback from 4-month high Mildly bearish bias in the near term But plenty of support at 20-day SMA and uptrend line EURGBP has been gradually edging lower after scaling a four-month high in late September. The momentum indicators are mixed as the RSI has flatlined slightly above the 50-neutral level but the […]
USDCAD snaps long-term resistance line Short-term bias bullish; overbought signs detected A clear close above 1.3700 required for more upside USDCAD is fighting for a close above the descending line at 1.3700, which connects all the highs from the 2020 top, for the first time since its failed attempt to reach it in early […]
Key earnings data will be released on Friday 02.30 GMT as the BoJ is fixated on wages The market remains focused on the rumoured intervention from Japanese authorities A strong set of data could offer some short-term respite to the ailing yen Yen Intervention in focus The market is still digesting Tuesday’s rumoured intervention, and […]
Canada’s economy likely added fewer jobs in September as labour market cools But will it sway odds of further BoC rate hikes? Local dollar struggles at 6-month low ahead of Friday’s data due at 12:30 GMT A rough patch The Canadian economy has been going through a rough patch since the end of 2022, contracting […]
NZDUSD loses ground after RBNZ rate decision Sellers could stay in charge; focus on 0.5830 NZDUSD opened slightly lower on Wednesday as the RBNZ kept interest rates unchanged but left some traders disappointed, providing vague indications about future rate hikes. With the RSI diving back below its 50 neutral mark and the MACD staying within […]
Nvidia pulls back from its 2023 high before attempting a rebound Latest recovery held down by 50-day SMA and Ichimoku cloud Momentum indicators are tilted slightly to the bearish side Nvidia has been the best performing stock of the S&P 500 in 2023, gaining around 250% and marching to consecutive record highs before experiencing a downside correction. Even though […]
Yen spikes after breaching the 150-per-dollar mark Markets suspect intervention, but officials do not confirm Dollar charges higher on more upbeat US data Wall Street and gold suffer as dollar and yields extend rally Yen surges, stoking intervention speculation The yen was the sole major currency to end Tuesday with gains against the US dollar, […]
GBPJPY finds support after sudden fall, but risks remain Bearish wave could gain new legs below 178 GBPJPY slumped suddenly to 10-week low of 178.00 on Tuesday in what looked to be a currency intervention from the Bank of Japan. The resistance-turned-support trendline from April 2022 halted the bearish action and lifted the price back […]
Skyrocketing bond yields put markets in a spin Fed’s higher for longer calls grow louder US 10-year yield approaches 4.8% at 16-year high Can they reach 5.0% and how soon before something breaks? Yields heeding the higher for longer message Yields on government bonds are flying again as central banks are all singing from the […]
USDJPY is edging higher today after yesterday’s tumultuous session It continues to hover inside a wide ascending trend channel Stochastic oscillator could be close to giving a bearish signal USDJPY is in the green today as market participants are trying to find their foot following yesterday’s alleged intervention from the Japanese authorities. The pair continues […]
USDX stuck in a steep uptrend since its 2023 bottom in July Battles with the 50.0% Fibonacci retracement of the 114.71-99.19 downleg Given that momentum indicators are pointing at overbought conditions, is a pullback in sight? The US dollar index (December Futures) has been in a steady recovery after bouncing off the 2023 low of 99.19 in July. […]
Silver hits multi-month lows but bears look exhausted A bounce above 21 could improve sentiment Silver extended Monday’s freefall to a seven-month low of 20.66 on Tuesday before turning slightly positive in the day during the early US trading hours. The slump in the price preceded the close below the one-year-old support trendline, but the metal […]
US performs better than other major economies After higher Fed rate projections, focus turns to US jobs data A still-tight labor market could further lift the dollar The data is coming out on Friday, at 12:30 GMT Hawkish Fed turbocharges the dollar With the US economy proving more resilient than other major ones and inflation […]
Dollar continues to rally, with help from rising yields Gold smashed lower, but stocks don’t get the memo Aussie hits 11-month low after RBA decision, RBNZ next Dollar shines bright King dollar has returned to rule over FX markets. The world’s reserve currency has staged a phenomenal rally in recent months, empowered by the stunning […]
GBPUSD stuck in a steep decline since mid-July, appearing unable to recover Records consecutive multi-month lows as the bulls remain on the sidelines Given that momentum indicators are pointing at oversold conditions, can the price bounce back? GBPUSD has been forming a structure of lower highs and lower lows since its 15-month peak of 1.3141. Meanwhile, […]
