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COMMENTARY
The AUD seems to be gaining the most against the JPY compared to the following G10 Fx pairs including the NZD, CAD, EUR, and the USD in front of tomorrow's Reserve Bank of Australian (RBA) interest rate decision. High price action across the AUD cross pairs is expected upon tomorrow's RBA rate decision.
Current price for the AUD/JPY is above its ...
Tesla, Meta, Google and Disney all higher last 5 days
MARKET TALK
Big tech up sharply during the last 5 days, are investors discounting the “pending” recession and betting on the strength of the US consumer to support big tech earnings throughout 2023?
Tesla: up +9.43% last 5 days; earnings beats the street reported record revenue for Q4 2022
Meta: up +5.75%...
Dow Jones 30 Index
The multi-week sideways price action seems to be the consolidation of the October - December advance, bullish conditions appear to remain intact provided the 32,950 support area proves true.
Not investment advice. Past performance is not indicative of future results.
Higher tops and higher bottoms on price indicate an uptrend (dow pattern); the piercing above the 0.6893 resistance (December 3rd high) confirms the potential for the resumption of the trend which started on October 13; moving average analysis are bullish since current price is above both the 50 day and 20 day averages; upside focus seen at 0.7122 provided price...
US hourly earnings hold the key for US dollar direction
Event: United States Non Farm Payrolls
Released: Monthly on the first Friday
Next release: 1:30 GMT January 06, 2023
Skilling point of view:
Flat US Job growth: Month-on-month US Nonfarm Payrolls have been slowing since February 2022 and now, US job growth has been relatively flat during the...
Current price remains below its 40 week moving average (200 days) which indicates that the longer term trend is lower (100 days or more), however, the scope for a further near term (25 to 50) corrective upside rally from the November high - December low remains on the table, provided the key resistance near $85.05 can be overcome for prospective extension move...