Fed lifts dot plot, adds fuel to dollar’s engines Focus turns to core PCE index, the Fed’s preferred inflation gauge Slowdown could hurt the dollar, but broader outlook remains bright The data is released on Friday, at 12:30 GMT Fed signals another hike, fewer cuts in 2024 The Fed decided to keep rates steady last […]
GBPUSD set to close the month with heavy losses Short-term risk bearish but oversold conditions evident Support could emerge within the 1.2100 area GBPUSD has been in the red almost every single week since peaking at a 15-month high of 1.3141 in mid-July, with selling forces intensifying significantly in September. The pair is 4.0% down […]
EURJPY stuck in a tight range during September Hovers a tad below 15-year peaks supported by 50-day SMA Momentum indicators are tilted slightly to the bullish side EURJPY has been in a prolonged uptrend since the beginning of the year, posting a fresh 15-year peak of 159.75 on August 31. Since then, the price has been trading […]
· US inflation could ease; will USD/JPY extend uptrend above 150 · Eurozone inflation to soften too; EUR/USD at a make-or-break point · Australian inflation to reverse higher; AUD/USD looks for a rebound 0:00 Intro 0:32 USDJPY 3:21 EURUSD 5:34 AUDUSD For more information on the topics discussed in this video, including detailed charts and […]
US 500 index posts fresh 3-month low in today’s session Bears eye the ascending 200-day SMA Momentum indicators suggest that the recent decline could be overstretched The US 500 stock index (cash) has been experiencing a strong pullback following its rejection near the 50-day simple moving average (SMA) in mid-September. However, the aggressive selloff could be over soon as the momentum indicators […]
USDJPY continues to trade in an uptrend mode, above all EMAs Looking ready to challenge the 148.85 resistance barrier Both the RSI and the MACD detect positive momentum USDJPY is trading higher today, getting closer to the 148.85 zone, marked by the highs of October 31 and November 1. Overall, the pair remains in an uptrend […]
Mood sours amid hawkish Fed, recession fears and US shutdown risk Stocks mixed after last week’s losses as bond yields near cycle highs Dollar holds firm as yen under pressure after dovish Ueda Subdued sentiment as uncertainties weigh Trading got off to a mixed start on Monday as equities and the US dollar were lacking […]
Key data releases scheduled with the market counting down to the next RBA meeting The RBA is feeling relieved after the decision to pause by the Fed August CPI (01:30 GMT) could provide some breathing space to the aussie RBA was first on the scene The RBA kicked off the busy central banks’ season by […]
EURUSD in a clear downtrend, posting a fresh 5-month bottom of 1.0614 The descending 50-day SMA is approaching 200-day SMA, setting the stage for a death cross Momentum indicators are heavily skewed to the bearish side EURUSD has been in a steady decline after peaking at the 18-month high of 1.1275 on July 18, generating a […]
USDCAD in an aggressive decline from its 5-month high of 1.3693 Dives beneath the 200-day SMA, but the 50-day SMA holds its ground for now Momentum indicators suggest more pain in the short term USDCAD has been undergoing a strong downside correction from its five-month peak of 1.3693 recorded on September 7. In the last couple of […]
Oil prices stage impressive rally, driven by a classic supply shortage This occurred despite worries of lower demand from Europe and China Risk is that US ramps up production, putting an expiration date on this rally Crude deficit Oil prices went through the roof in recent months as the market encountered a serious supply deficit, […]
Bitcoin drops 1.8% on Thursday following a hawkish a FOMC meeting Experiences a strong technical rejection at the 50-day SMA on the daily chart Cryptos expected to extend their rangebound pattern in the absence of any major catalyst Fed inflicts severe damage to risky assets Cryptocurrencies started the week on the front foot, with Bitcoin […]
PCE inflation to grab attention on Friday as Fed signals higher for longer. But markets might be more worried about a government shutdown. Eurozone flash CPIs will also be the in the spotlight on Friday. Chinese PMIs to be watched for recovery signs. 0:00 Intro 0:23 US PCE inflation and dollar 3:48 Eurozone flash CPIs […]
PCE inflation to grab attention on Friday as Fed signals higher for longer But markets might be more worried about a government shutdown Eurozone flash CPIs will also be the in the spotlight on Friday Chinese PMIs to be watched for recovery signs Will core PCE add to second inflation wave worries? The latest spike […]
Mayhem in US bond market spills over into stocks Dollar struggles to advance despite soaring yields Sterling sinks on BoE decision, yen retreats after BoJ US yields leap higher The storm in US bond markets has evolved into a hurricane, inflicting deep wounds on riskier assets such as stocks. Yields on US government bonds have […]
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USDCAD is in the red today, tests the support of the 200-day simple moving average The mixed momentum indicators complicate the outlook The SMAs’ convergence could open the door to a sizeable move ahead USDCAD is moving lower today after bouncing off the July 14, 2023 upward sloping trendline. The downleg since the September 7, […]
GBPJPY slid below 50-day SMA after BoE surprise decision to hold rates steady Remains in a gentle downward path despite today’s bounce after BoJ leaves policy unchanged Will the short-term pullback extend? GBPJPY had been stuck in a prolonged uptrend since the beginning of the year, posting an eight-year high of 186.75 on August 22. However, […]
Slide in oil doesn’t last long as bulls remain in control But further gains will depend on whether 50% Fibonacci can be overcome WTI oil futures (cash) are heading higher on Thursday, reversing an earlier decline to a one-week low of 88.96. The price brushed a 45-week peak of 93.08 on Tuesday, extending the year-to-date […]
GBPUSD in the red again today and registering a new 6-month low A strong bearish trend is in place since the July 14, 2023 high Momentum indicators clearly support the current downleg GBPUSD is edging lower again today, recording the lowest print since March 27, 2023 and hovering around the 50% Fibonacci retracement of the […]
Intel share price nosedives days after hitting 40.00 Momentum indicators point to further losses in short term But medium-term bullish structure intact for now Intel stock tumbled in the past two sessions, losing about 8.75% of its value. Crucially, the price has slid below both its 20- and 50-period simple moving averages (SMAs), signalling a […]
Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher. […]
The US 100 index is edging lower today, testing the support of the 100-day SMA Bears are trying to recover part of their significant losses since the March 2023 lows The pullback could continue according to the momentum indicators Recent market events have changed the sentiment in the US 100 cash index and the bears […]
BTCUSD remains perky after bouncing off 25,000 support But 50-SMA proving to be a difficult obstacle to overcome Can Bitcoin maintain its recovery? BTCUSD (Bitcoin) has extended its rebound from the September 11 low of 24,920. However, the upside pressure has started to wane after coming into contact with its 50-day simple moving average. The […]
AUDUSD is edging lower today, reacting to yesterday’s key event The pair remains very close to the new 2023 low registered on September 6 The momentum indicators appear to support the downleg at this juncture AUDUSD is experiencing its second straight red candle, canceling out most of the upleg recorded since the September 6 low. The overall […]
Investors see rate cuts by the ECB, despite post-meeting hawkish rhetoric Eurozone prel. PMIs the next piece of information that could shake those bets Euro could slide if the PMIs disappoint when released on Friday, at 08:00 GMT After ECB meeting, the market sees rate cuts for next year Last week, the ECB decided to […]
EURUSD is edging higher today as market participants prepare for today’s event It tested the May 31 low but now appears to be heading towards the 1.0720 level SMAs’ convergence is potentially opening the door to an imminent strong move EURUSD is hovering below the busy 1.0720-1.0727 area as market participants are in waiting mode […]
Stocks slide as Treasury yields advance ahead of FOMC rate decision Worries over chip demand outlook casts shadows over AI growth prospects Instacart validates tech IPO resurgence, but can the excitement last? Surging yields bite stocks as inflation fears re-emerge Undoubtedly, the main event of the week is the FOMC interest rate decision later on […]
148.00 barrier proving difficult to overcome Still plenty of upside to achieve a break higher But bullish bias is showing signs of abating USDJPY has been knocking on the door of the 148.00 handle for the past couple of weeks but to no avail. It’s made somewhat more progress today, crawling slightly above that level. […]
