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GBP/USD to Track 100-MA Slope? On Wednesday, GBP/USD traders will focus on the UK's July Manufacturing and Services PMI, expected to show slight increases. Although, more significant events will come from the U.S., including the annualized Q2 2024 GDP and the PCE Price Index. The Fed's preferred inflation gauge likely cooled in June, suggesting its efforts...

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R2 159.45 – 12 July high – Medium R1 158.86 – 16 July high – Medium S1 155.37 – 18 July low – Medium S2 154.55 – 4 June low – Strong USDJPY – fundamental overview A large carry trade unwind via Aussie and Mexican Peso sales against the Yen, along with increased odds for a BOJ rate hike at the end of the month were behind the latest run of Yen demand....

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NZDUSD – technical overview Overall pressure remains on the downside with the market continuing to stall out on runs up into the 0.6500 area. At the same time, there are some signs of the market wanting to put in a longer-term base. Ultimately, a break back above 0.6500 would be required to take the medium-term pressure off the downside and encourage this...

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ETH/USD is expected to experience increased volatility this week, with spot Ethereum ETFs set to go live on Tuesday, according to Bloomberg. The Securities and Exchange Commission (SEC) is poised to finalize updates on the products today. Ethereum ETFs follow the path of eleven trading spot Bitcoin ETFs, which have amassed over $54 billion in assets under...

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3 Events to Watch: CrowdStrike, 25th Amendment, & US weather CrowdStrike Oversold? A widespread outage on Friday left computer screens blue, grounded flights, halted hotel check-ins, and disrupted freight deliveries, forcing businesses to revert to paper and pen. The incident, allegedly triggered by an update from CrowdStrike (down ~12%), also affected...

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Trade Alerts: SA Rates and BoC Decision South African Inflation South Africa is expected to maintain its key interest rates at 8.25% and 27.25% on Thursday, citing persistent inflationary pressures. Central bank Governor Lesetja Kganyago has emphasized that rate reductions are unlikely until inflation sustainably returns to the 4.5% midpoint of the target...