Author: FX
chachamal The Asia-Pacific equity markets were in red on Wednesday as investors cautiously awaited Nvidia’s earnings report, a key event for the AI sector. Markets also reacted to data showing Australia’s monthly CPI indicator came in hotter than expected in July. The Japan (NKY:IND) -0.02%. The Nikkei 225 Index fell on Wednesday, and the Japanese yen traded around 144 per dollar, hovering near its strongest levels in three weeks. Moreover, Bank of Japan Deputy Governor Ryozo Himino said the central bank will adjust the degree of monetary accommodation if the outlook for economic activity and prices are realized. China (SHCOMP)…
(Reuters) -Ukrainian drones set oil tanks on fire at an depot in Russia’s Rostov region, Russian Telegram channels reported on Wednesday. Russia’s air defence units destroyed four drones over the Rostov region overnight, the Russian defence ministry and Rostov’s governor, Vasily Golubev, said on the Telegram messaging app, but made no mention of an attack on an oil depot. The Baza Telegram channel, which is close to Russia’s security services, said that three tanks were burning at an oil depot in the Kamensky district of the Rostov region after two drones fell on the area. Videos posted on Russian social…
I’m seeing a steady uptrend on the hourly chart of AUD/USD, but it looks like the pair is stalling at its August highs. Could it go for a pullback or a break higher? Here’s what I’m expecting for the U.S. preliminary GDP report and the inflection points I’m watching This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Data from the Australian Bureau of Statistics (ABS) showed that inflation in Australia rose by 3.5% y/y in July, slower than June’s 3.8% increase AND the lowest since March but higher than the 3.4% uptick that the markets had expected. One reason for the decline may be that the expanded Commonwealth Energy Bill Relief Fund rebate and the introduction of State government rebates took effect in July, effectively lowering household electricity costs. However, excluding volatile items like fuel, fruit and vegetables, and holiday travel, CPI still slowed down from 4.0% to 3.7% from a year ago in July. Reserve Bank…
Who’s ready for the first round of revisions on the U.S. Q2 2024 GDP? Any significant upgrades or downgrades could still impact Fed policy outlook, potentially causing big swings in the markets. Better read up on what analysts are expecting for the event and how the dollar could react. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
No data? No problem! With not a lot of top-tier data releases on tap, traders turned to yesterday’s market themes and priced in their biases for the awaited reports scheduled later this week. How did your favorite assets trade anyway? Headlines: BOJ core CPI slowed down from 2.1% y/y to 1.8% y/y (2.1% expected) in July German GfK consumer climate worsened from -18.6 to -22.0 (-18.3 expected) in August; Income and economic expectations showed noticeable losses and the willingness to buy also fell Germany final GDP for Q2 2024 confirmed at 0.1% as expected U.K. CBI realized sales fell for…
Australia/s treasurer Chalmers is speaking after the CPI data and says: Inflation data a promising resultHowever we are not complacent because we know that people are still under pressureThe AUDUSD moved higher after the reading came in higher than the expectations of 3.4% (was 3.5%), but the high price of 0.68124 could not extend to the 61.8% retracement of the move down from the 2023 high of 0.6818. The price is currently trading at 0.6798 which was the high from last Friday and again on Monday. Will the buyers keep the momentum going, or will the break higher fail? Source…
The foreign exchange market, or forex for short, pulsates with constant movement. Prices ebb and flow, creating a dynamic landscape for traders. But within this volatility, periods of consolidation emerge, offering valuable clues about future price direction. This is where the concept of inside bars comes into play, and the Inside Bar V2 MT4 Indicator steps in as a powerful tool to help you identify them. Imagine a bar on a price chart. It represents a specific timeframe, typically an hour or a day, showcasing the highest price (high), the lowest price (low), the opening price (open), and the closing…
The combination of Ichimoku Cloud and Hull Moving Average (HMA) stands out for its comprehensive analysis and timely signals. Originating from Japan, the Ichimoku Cloud, or Ichimoku Kinko Hyo, offers traders a holistic view of market dynamics through its unique set of indicators. The Kumo (cloud), Senkou Span lines (leading spans), Tenkan Sen (conversion line), and Kijun Sen (baseline) collectively provide insights into trends, support/resistance levels, and potential entry/exit points all condensed into a single chart. This allows traders to grasp market conditions swiftly and make informed decisions. Complementing the Ichimoku Cloud is the Hull Moving Average, which was developed…
Elliott Wave analysis indices SP500 and NASDAQ Minor Elliott Wave 4 appears to be completed with the help of stocks like APPL, NFLX and NVDA. The smaller markets RUT, DAX 40 FTSE and ASX200 are also still very close to the counts on the SP500, which is leading higher over the Nasdaq finding the 20,000 as a strong resistance. As mentioned last week we are heading into an unfriendly trading environment, choppy sidewards price action with the overall trend edging higher and this is still the case. No trading strategy or trend trade recommendations only smaller positions for scalping. Video…