The euro continues to lose ground and is trading at 1.1080 in the North American session, down 0.49% on the day. The euro is down for a third consecutive day and has declined 0.9% during that time.
Eurozone inflation eased to 1.8% y/y in September, down from 2.2% in August and below the market estimate of 1.9%. This was the lowest rate since April 2021 and below...
The Swiss franc is showing limited movement on Thursday. USD/CHF is trading at 0.8483, down 0.24% on the day. In the US, it’s a busy day with US GDP, unemployment claims and durable goods orders. As well, Federal Reserve Chair Powell and several FOMC members will deliver remarks.
The Swiss National Bank lowered its cash rate by 25 basis points to 1%, its third...
If the S&P500 gets rejected at this level, it has the power to be an iconic selloff.
Now before we get to “bear’d up ” understand the SPX is still holding above the key short term daily moving averages and holding higher lows. The long term trend is still up.
Now to go back to being bearish. This FOMC interest cut was a big 0.50 BP which is not what most were...
Well well well, here we have it. 50 basis points!
However, never say never to the downside. there are stops down there!
Gold update post Fed statement and 50bp cut...upside in play for longer in Gold.
TLT bullish trend into 100 resistance with major Fed decisions coming in the next weeks/months. Has a gap to fill on the way to highest pt
Pts are 98.30, 98.70, and 100+
- Shifted narrative from inflation to labor market
- Data suggests Fed is very behind the curve
- Jackson Hole
- FOMC
The Japanese yen has edged lower on Tuesday. In the European session, USD/JPY is trading at 144.76, up 0.17% on the day at the time of writing.
Is Japanese inflation falling? On Tuesday, two inflation indicators pointed to a deceleration in inflation in July. BoJ Core CPI, which is closely monitored by the Bank of Japan, dropped to 1.8%, down from 2.1% in June...
The euro is in negative territory on Monday. In the European session, EUR/USD is trading at 1.1156 at the time of writing, down 0.32% on the day. The euro posted strong gains on Friday, rising 0.73% and breaking above 1.12 for the first time since July 17.
The markets got what they were looking for from Federal Reserve Chair Powell on Friday – an endorsement for...
The Canadian dollar is showing some strength on Friday. In the North American session, USD/CAD is trading at 1.3532 at the time of writing, down 0.60% on the day. The Canadian dollar is at its highest level since early April and is poised to post its third winning week in a row.
Canada’s retail sales report was a mix. In June, retail sales fell 0.3% m/m,...
US Dollar Declines Early Friday as Markets Await Powell’s Speech
Next Outlook:
The market is currently navigating a crucial zone between 1.10820 and 1.11400. A break above or below this range will likely determine the next directional move. If the price stabilizes above 1.11410, it could signal a potential rally towards 1.12560. Conversely, if the price remains...
Russell 2000 futures sit on uptrend support, making Friday’s close important following Jerome Powell’s speech at Jackson Hole.
To get excited about US small caps, you need a soft economic landing and lower borrowing costs given many of its constituents are unprofitable and reliant on capital markets. Given Powell will discuss rate cuts and flag confidence in the...
Good morning traders, today we present two very interesting possible scenarios which we can take advantage of, today we have a high impact speech where the president of the FED POWELL will surely move the market a little and we will be waiting for what may happen happen . many profits for today
The New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day.
The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29.
The markets are braced for a downturn in retail sales for the second quarter, with a market estimate of...
The British pound is showing limited movement on Wednesday, after a four-day rally in which it surged 1.7% against the retreating US dollar. GBP/USD is trading at 1.3047 in the North American session at the time of writing, up 0.1% on the day.
The annual meeting at Jackson Hole has added significance this year as the Federal Reserve is expected to deliver a...
Traders continue to sell the US dollar in anticipation of a dovish speech from Jerome Powell on Friday. To the point where we wonder if this could be a case off "sell the rumour, buy the fact". Matt Simpson takes a quick look at the USD dollar index and bond yields.
US30 is showing a continuous uptrend as expectations for the US economy arise, along with the anticipation that Chairman Powell may provide clues about rate cuts at the Jackson Hole meeting. Goldman Sachs lowered its 12-month recession probability for the US economy from 25% to 20% following the release of July retail sales and jobless claims data.
The current...
**Current Price Range**: $846 to $822 (Weekly Frame)
**Potential for Bullish Reversal**:
BlackRock, trending between $846 and $822, shows signs of a potential bullish reversal. A strong resistance at $895.20 is key. Breaking and closing above this level on the weekly timeframe could indicate a reversal and the continuation of a bullish trend.
**Double Top...
The British pound has extended its gains on Thursday. GBP/USD is trading at 1.2876 in the European session, up 0.22% on the day.
The sun is shining in London today and there’s plenty to smile about besides the pleasant weather. England has punched their ticket to the final of the Euro football tournament and UK GDP was stronger than expected. The British pound...
Gold is in the local descending channel and we are trying to find the sell position entries.
We observe breaker block on the graph which cannot be broken previous days, only false breakouts happened.
Thus, this zone occasionally is the intense rejection zone for us.
Also, Powel in yesterday's meeting did not talk negative about the inflation rate, which keeps...
