Author: FX
Article by IG Chief Market Analyst Chris BeauchampFTSE 100, DAX 40, Dow Jones Charts and AnalysisFTSE 100 aiming to move above 7600The index managed to push its way above 7600 yesterday but was unable to hold these gains. A reversal below 7540 and the 50-day SMA would be a bearish development and signal that the sellers were in control once more. This might then open the way to a move to the lows of July around 7250.A close above 7600 would mark a more bullish event and then allow the price to contemplate a renewed move to 7700. This is…
A better-than-expected U.K. GDP growth boosted the British pound across the board earlier today. Will this lead to EUR/GBP breaking its short-term downtrend? Before moving on, ICYMI, yesterday’s watchlist checked out USD/JPY’s uptrend ahead of the U.S. CPI release. Be sure to check out if it’s still a good play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: U.S. weekly initial jobless claims: 248.0k (229.0k forecast; 227.0k previous) U.S. CPI for July: 3.2% y/y (3.1% y/y forecast; 3.0% y/y previous); Core CPI at 4.7% y/y (4.8% y/y forecast/previous)…
Tashi-Delek Hedge funds have boosted their exposure to technology while cutting exposure to cyclicals, according to analysis of filings by Jefferies. “We continue to track and write about our version of FAANG+ called the Sweet 16,” the equity team wrote in a note. “As of the end of May, Hedge Funds took up their active weight to this group by over 8% and now have their weight in-line with the S&P 500 (SP500) (NYSEARCA:SPY) (IVV) (VOO), however, the weight to individual names differs greatly.” “Hedge funds are now marginally market weight whereas one month ago the underweight versus the S&P…
AUDUSD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free AUD Forecast Most Read: The Reserve Bank of Australia: A Trader’s GuideAUD FUNDAMENTAL BACKDROP, CHINA CONCERNS GROWThe Australian Dollar is attempting to snap a three-day losing streak against the Greenback. Reserve Bank of Australia (RBA) Governor Lowe provided the Aussie Dollar with some ammunition following comments which lent on the hawkish side as he maintained the RBA is committed to the inflation fight, not ruling out further rate hikes.Governor Lowe stated the Central Banks core prediction is for CPI inflation to be approximately 3¼ percent by the end…
© Reuters Daily active users on Coinbase (NASDAQ:)’s layer 2 blockchain have exceeded 100,000 for the first time, just the day following the official launch of the network. Dune Analytics figures from Aug. 10 show over 136,000 daily users, the highest daily number in its short history, which also coincides with the second day of its public release.Daily active users on Base. Source: DuneContinue Reading on Coin Telegraph Source link
GBP/USD Prices, Charts, and AnalysisThe UK economy grew by 0.2% in the second quarter.The economy is estimated to have expanded by 0.5% in June. Recommended by Nick Cawley How to Trade GBP/USD The UK economy expanded by a better-than-expected 0.2% in Q2, beating forecasts of zero growth, while the economy grew by a more robust 0.5% in June compared to forecasts of 0.2%. According to Darren Morgan, director of economic statistics at the Office for National Statistics (ONS), ‘Services also had a strong month with publishing and cars sales and legal services all doing well, though this was partially offset…
U.S. crude oil prices look set to cap the week below their weekly highs! Are we looking at a reversal in the making? Or just a regular pullback from a strong move? WTI Crude Oil (USOIL) 4-hour Chart by TV If you’ve been tracking crude oil prices lately, then you’ll know that the commodity has been having a good month since busting out of the $70 – $72 range in early July. This week, it’s risk-taking and a bit of anti-USD move that bumped U.S. crude oil prices higher. WTI Oil (USOIL) prices are now trading closer to $82.60, much…
Markets are settling down after the volatile movements amid the US CPI data yesterday. The bond market puked and that for me is the key takeaway move, with equities also failing to hold on to gains and reversing lower thereafter. Even if Wall Street did close marginally higher, it definitely felt like a loss.In FX, the dollar rebounded strongly as the inflation numbers all but served to validate the current market pricing as seen here.USD/JPY continues to be the main pair to watch amid the rise in yields, as it starts to creep towards the 145.00 mark again. Time for…
Share: Asian stock markets edge lower on Friday, Chinese equities lead losses. The Chinese inflation data fuels concern about the pace of China’s post-pandemic recovery. Market players will monitor the US Producer Price Index (PPI) for July. Asian stock markets edges lower on Friday, with all eyes on the release of the US Producer Price Index (PPI), due later in the American session. Sydney, Hong Kong, and Shanghai stock markets decline while Japanese markets closed on holidays. At press time, China’s Shanghai falls 1.19% to 3,215, the Shenzhen Component Index declines 1.24% to 10,910, Hong Kong’s Hang Sang…
An initial rally in Wall Street eventually fizzled into the close, as Treasury yields headed higher in the aftermath of the US Consumer Price Index (CPI) release, prompting the US dollar to pare its earlier losses.Both headline and core US CPI surprised on the downside, which will likely provide grounds for the Fed to keep rates on hold in September, but with Fed funds rate expectations already priced heavily for an end to the Fed’s tightening process, some selling on the bounce seems to be triggered. The real-time daily inflation estimates from the Cleveland Fed also suggests that US headline…