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Dollar gains stall for now but the technicals look good

Dollar gains stall for now but the technicals look good

The dollar jump yesterday was certainly noteworthy but we are seeing a light pullback to the gains in trading today. Of note, USD/JPY is down 0.4% to 138.10 levels but buyers are still looking poised in the bigger picture.Meanwhile, the antipodeans are also taking...

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Dow Jones Technical Analysis

Dow Jones Technical Analysis

On the daily chart below, we can see that the price has bounced from the 33000 level and rallied towards the red long period moving average. This is where the sellers are likely to lean on looking for more downside and targeting the 32684 support. The price action...

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Russell 2000 Technical Analysis

Russell 2000 Technical Analysis

On the daily chart below, we can see that after bouncing from the 1723 support, the market started to rally again towards the resistance at the 50% Fibonacci retracement level. The market has been stuck in this range since the Silicon Valley Bank collapse in...

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AI Stocks to Check Out for 2023

AI Stocks to Check Out for 2023

Unlike other tech-based trends in recent times like the Metaverse or Blockchain technology, AI seems to showthe most promise for real-world applications. In fact, it might not even be appropriate to call AI a trend. It’s been used by Ukraine to (successfully) target...

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European equities slightly higher at the open today

European equities slightly higher at the open today

Eurostoxx +0.3%Germany DAX +0.3%France CAC 40 +0.3%UK FTSE +0.3%Spain IBEX +0.3%The DAX continues to track closer towards the highs from last year at 16,285-90 so that is one to watch among European indices. The optimism is still running after the gains from Wall...

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Eurostoxx futures +0.3% in early European trading

Eurostoxx futures +0.3% in early European trading

German DAX futures +0.3%UK FTSE futures +0.2%The DAX is just a whisker away from fresh record highs once again and the optimistic momentum from Wall Street yesterday looks to be transferring over in early trade. S&P 500 futures are up marginally 0.1% with Nasdaq...

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Germany April PPI +0.3% vs -0.5% m/m expected

Germany April PPI +0.3% vs -0.5% m/m expected

Prior -2.6%PPI +4.1% vs +4.0% y/y expectedPrior +7.5%This is the first time since September last year that producer prices actually increased and it comes against the estimates of yet another drop. Looking at the details, prices for capital goods (+0.6%), non-durable...

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FX option expiries for 19 May 10am New York cut

FX option expiries for 19 May 10am New York cut

There is just one to take note of, as highlighted in bold.That being a large one for USD/CAD at 1.3500, which sits near the 100-day moving average at 1.3507 currently. That might limit upside price action in the pair in European trading before rolling off and also...

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Trade ideas thread – European session 19 May 2023

Trade ideas thread – European session 19 May 2023

The dollar looks to finally broke through key levels this week and all there's left is for Powell not to muck it all up later today.EUR/USD breaks below 1.0800 and 100-day moving average of 1.0806USD/JPY breaks above 138.00 and resistance region of 137.77-91 to highs...

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How has the Fed pricing changed in the past week?

How has the Fed pricing changed in the past week?

Now, that pricing has moved up to roughly 32% odds especially after the more hawkish headlines from yesterday. A look at the Fed funds futures curve also shows that traders have pared back their expectations on rate cuts. Previously, they saw three rate cuts by...

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Little on the agenda in Europe today

Little on the agenda in Europe today

There are a couple of interesting themes developing this week across markets and they're not really in sync. For one, the dollar is breaking out alongside higher yields but at the same time, we are seeing stocks rally courtesy of a breakout in tech.It's not your...

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Dollar back in the driver’s seat

Dollar back in the driver’s seat

Once again, it was a day where the dollar rose despite equities rallying late as higher bond yields continue to underpin the currency. And it was definitely helped out by headlines like these:That resulted in another further shift in Fed rates pricing, with traders...

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