Author: FX
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 benefits from risk-on appetiteThe FTSE 100 is on track for a second day of gains as it follows Asian stock indices higher ahead of today’s start of the Jackson Hole symposium.The UK blue chip index is now gunning for the May, June, and early August lows at 7,401 to 7,437 which may cap it today, though. If not, the mid-July high at 7,481 could be reached as well ahead of the 55-day simple moving average (SMA) at 7,501.Slips should find support around Monday’s…
EUR/GBP PRICE FORECAST:For Beginner Traders, Please Download Your Free Forex Guide Below Recommended by Zain Vawda Forex for Beginners READ MORE: USD/CAD Retreats Following Lackluster US PMI, Mixed CAD Retail Sales DataEUR/GBP came in for volatile price action yesterday thanks to both the Euro Area and UK PMI data releases. The pair traded below the psychological 0.8500 level briefly before doing a 360 to finish the day 0.24% up, around the 0.8540 handle.PMI DATA AND CENTRAL BANKSPMI data out of the Euro Area and the UK painted a grim picture yesterday as the economy begins to slow down with signs…
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Dow Jones started to range as the market was just probably overstretched. This looks more like a consolidation before another drop as the miss in yesterday’s US PMIs doesn’t support the bullish case. Dow Jones Technical Analysis – Daily TimeframeDow Jones DailyOn the daily chart, we can see that the fakeout above the key resistance at 35289 led to a big selloff afterwards with the Dow Jones breaking below the support and the trendline. This breakout opened the door…
Share: EUR/USD’s decline has extended to the 200-Day Moving Average (DMA) at 1.0800. Economists at Credit Suisse analyze the pair’s outlook. Resistance at 1.0932 capping can now keep the immediate risk lower Whilst 1.0800 is holding for now as suspected, if our view for the USD is correct this would suggest the risk for a move below 1.0800 in due course is high for a test of what we look to be better support at the 38.2% retracement of the 2022/2023 uptrend and May low at 1.0634/12. Whilst we would look for an attempt to find a better…
It looks like anti-dollar sentiment is building up ahead of the Jackson Hole Symposium. Can this translate to more gains for the S&P 500? On its short-term time frame, you can see that the equity index has formed higher lows connected by an ascending trend line. S&P 500 Index (US500) 15-min Chart by TV A bullish correction may be in the works, and the Fibonacci retracement tool shows where more buyers might be hanging out. The 38.2% level looks like a prime support zone, as it lines up with the pivot point (4,438.30) while the 61.8% Fib might be in…
The U.S. dollar index is knocking on a couple of major resistance indicators! Will this lead to DXY extending its 2023 downtrend? Let me show you what’s cookin’ on the daily time frame: U.S. Dollar Index (DXY) Daily Forex Chart by TV If you’ve been watching the U.S. dollar index, then you’ll know that DXY has been consolidating at the 103.50 area since reaching the area last week. And why not? Not only is 103.50 close to the R1 Pivot Point level on the daily time frame, but it’s also near the chart’s 200 SMA. More importantly, DXY’s current levels…
Banco Macro reports Q2 results Source link
© Reuters. FILE PHOTO: The logos of Amazon, Apple, Facebook and Google in a combination photo/File Photo By Martin Coulter LONDON (Reuters) – More than a dozen of the world’s biggest tech companies face unprecedented legal scrutiny, as the European Union’s sweeping Digital Services Act (DSA) imposes new rules on content moderation, user privacy and transparency this month. Across the EU, a host of internet giants – including Meta’s Facebook (NASDAQ:) and Instagram platforms, Chinese-owned video app TikTok and a handful of Google (NASDAQ:) services – are adapting to the new obligations, including preventing harmful content from spreading, banning or…
Kyle Bass is founder and principal of Hayman Capital Management, and he is not keen in sinking investment capital into China at present. He spoke with financial media in the US on Wednesday, highlights:China is allocating resources to state-owned enterprisesChina is moving away from a market-based approach and moving to a party-based approachAll the profits are going to management and the party. It’s not going to westernersWestern companies face a swath of legal uncertainties, referring to China’s expanded counter-espionage law, making it difficult to know what is permissible Apart from market and legal considerations, there is also the war worry:…
Share: Gold Price rebounds on market’s cautious optimism and a pullback in United States Treasury bond yields. Upbeat US-China trade news, expectations of nearness to major central banks’ policy pivot propel XAU/USD. Two-day Jackson Hole Symposium begins, dovish central bankers could accelerate Gold Price upside. Friday’s Fed Chair Powell’s speech eyed, especially after mixed US data, defense of hawkish policy can recall XAU/USD bears. Gold Price (XAU/USD) stays on the front foot at around $1,917, despite posting mild gains amid the early hours of Thursday’s Asian session, as market players await the United States data and the start…