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Dow Jones Technical Analysis – Watch this key support for the next big move
Last week, the Fed hiked the interest rates by 25 bps as widely expected keeping everything unchanged. Fed Chair Powell reiterated their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been pretty solid and the...
Japan banking regulator says sees no big impact from BOJ shift for now
Kurita is the new head of the FSA and he mentions that:"With long-term interest rates staying around 0.6%, I don't think it will have much of an impact on Japanese banks. Unless rates surge in a short period of time in Japan the way they did in the US, I believe the...
Underlying inflation has likely peaked in 1H 2023 – ECB
Median and mean underlying inflation measures suggest that underlying inflation has likely peaked in the first half of 2023Most measures of inflation were showing signs of easingThe latest inflation data for July was broadly in line with expectationsThis seems to be a...
Eurozone June retail sales -0.3% vs +0.2% m/m expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Russell 2000 Technical Analysis – The bulls are still eyeing a breakout
Last week, the Fed hiked the interest rates by 25 bps as widely expected keeping everything unchanged. Fed Chair Powell reiterated their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been pretty solid and the...
UK July construction PMI 51.7 vs 48.0 expected
Prior 48.9UK construction activity returns to growth in July, helped by the strongest rise in commercial building since February as well as solid growth in civil engineering activity. The downside to the report is that homebuilding saw another sharp contraction on the...
AUD/USD, GBP/AUD Analyzed as AUD Eyes a Recovery Post RBA Statement
AUD/USD, GBP/AUD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free AUD Forecast Get My Guide Most Read: The Reserve Bank of Australia: A Trader’s GuideAUD FUNDAMENTAL BACKDROPThe Australian Dollar continued its recovery overnight with modest gains...
Germany July construction PMI 41.0 vs 41.4 prior
Prior 41.4The slump in Germany's construction sector continues in July, , led by a deepening decline in work on residential building projects. Weaker demand conditions are weighing as there is another sharp fall in new orders, leading to constructors to scale back...
Market Update – August 4 – Amazon delivers, Apple does not. Yields eyeing highs before NFP.
Amazon delighted investors on Thursday posting earnings of 65 cents/share vs 35 cents/share expected. Cost cutting policy has allowed the company to expand its overall margin even if its money making AWS business profit margin declined to 24.2% from 29% a year...
S&P 500 Technical Analysis – US NFP in focus
Last week, the Fed hiked the interest rates by 25 bps as widely expected keeping everything unchanged. Fed Chair Powell reiterated their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been pretty solid and the...
Not much appetite among major currencies for now, awaiting the US jobs report
And as we await that, there isn't much notable change among major currencies with tight ranges still abound. EUR/USD is only seeing a 17 pips range so far today as it keeps flattish for now - similar to dollar pairs all across the board.The aussie and kiwi were mildly...
European stocks lightly changed as the session gets underway
Eurostoxx +0.2%Germany DAX flatFrance CAC 40 +0.2%UK FTSE -0.1%Spain IBEX +0.2%This comes as we also see US futures trim its earlier gains. S&P 500 futures are only up 0.2% now with Dow futures rather flattish. Nasdaq futures were up as much as 0.7% earlier but...
Gold Technical Analysis – Bulls and Bears are watching this key support level
The Fed hiked interest rates by 25 bps as expected and left everything unchanged. Fed Chair Powell didn’t hint to anything and reaffirmed their data dependency keeping all the options on the table. The US data since the FOMC meeting has been mixed but the labour...
Eurostoxx futures +0.6% in early European trading
German DAX futures +0.4%UK FTSE futures +0.4%There is a more positive mood on the day as equities look to end the week on a better note. The turn of the month hasn't been kind to stocks but they are finding a bit of a footing now. This comes as tech shares are on the...
Germany June industrial orders +7.0% vs -2.0% m/m expected
Prior +6.4%; revised to +6.2%That's back-to-back large increases in factory orders in Germany, but there is a big caveat to take note of. A big chunk of the rise in industrial orders in May and now June is stemming from remarkably large individual orders i.e. anything...
BNP Paribas lowers BOE terminal rate forecast to 5.50%
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
FX option expiries for 4 August 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first being for USD/JPY at 142.00, a level where buyers are likely to try and make a stand in case of any downside push. The figure level does have some technical significance in reaffirming the...
Stocks look to bounce back after a poor run this week
US futures are sitting higher today and that is helped out by tech stocks, after Amazon's earnings beat. Nasdaq futures are up 0.5% and that is seeing S&P 500 futures be up 0.3% as well. That's pointing to a better mood ahead of European trading, with Asian stocks...
China’s Ministry of Commerce said it would drop tariffs on Australian barley imports
Anti-dumping and anti-subsidy tariffs on Australian barley imports were slapped on by China 3 years ago. China's Ministry of Commerce announced on Friday an end to the punitive tariffs. The tariffs will be dropped starting tomorrow, Saturday, 5 August 2023. -In the 3...