Author: FX
Article by IG Chief Market Analyst Chris BeauchampFTSE 100, DAX 40 and Dow Jones Analysis and ChartsFTSE 100 targets 7700 againGains stalled last week below 7700, after an impressive run higher for the index. Bulls will want to see a daily close above 7700 in order to open the way to more upside in the direction of 7800 and then 7930. A recovery of these two levels helps to revive a bullish view after the losses of May and June.So far losses have been contained around 7630 so a close below this level might help to reinforce a short-term bearish…
mbbirdy/E+ via Getty Images JPMorgan repeated its assertion Monday that U.S. 10-year Treasury yield (US10Y) has peaked after reaching a level of around 4.2% last year. The firm’s global market strategy team sees a drift lower by the end of the trading year. “We continue to believe that US 10-year bond yield has peaked at 4.2%, a call we made last October,” the financial institution stated. JPMorgan added: “Our FI team has 3.5% end year target.” Early in Monday’s trading, the 10-year yield was lower by 1 basis point, sitting at 3.96% after it popped back above the 4.00% level…
In many ways, the forex market is like a battlefield. And as in warfare, the elements of risk, uncertainty, and danger in forex trading are always present. Some traders even view other traders or the market itself as an adversary that they need to outsmart. At the end of the day, victory is achieved by those who can think on their feet and are able to execute better strategies. Since forex trading shares similarities tHow o warfare, it makes sense to consider a military strategist’s approach in learning about and dealing with market forces. Dr. Brett Steenbarger, one of my favorite trading psychologists,…
© Reuters. FILE PHOTO: Dr. Seth Gale points out evidence of Alzheimer’s disease on an MRI at the Center for Alzheimer Research and Treatment (CART) at Brigham And Women’s Hospital in Boston, Massachusetts, U.S., March 30, 2023. REUTERS/Brian Snyder/File Photo By Julie Steenhuysen CHICAGO (Reuters) – Quest Diagnostics (NYSE:) on Monday launched the first direct-to-consumer blood test to detect abnormal levels of beta amyloid, a key Alzheimer’s protein which can appear years before dementia symptoms arise. The $399 test, called AD-Detect, uses the same technology as a blood test the company launched for use by doctors in early 2022. “One…
The slightest of beats in the quarterly GDP reading for Q2 will at least provide the ECB some comfort, even as growth conditions are seen slowing down significantly. It is still a positive estimate and it is one that they can use to keep the spin of things if they want to push the agenda for a pause in September.However, the details should reveal that consumption i.e. domestic demand is still extremely subdued – as seen with France’s report here – and that’s an ominous sign for conditions for the remainder of the year. The manufacturing recession is already worsening…
Share: The Yuan experienced a few choppy weeks in July. Economists at Commerzbank analyze CNY outlook. Policymakers need to act fast The Yuan experienced a few choppy weeks in July as the PBoC set the daily fixings stronger than market expectations in most days to counter depreciation pressure. This will likely continue to be the case in the near term. While the recent stimulus announcements have bought some time for policymakers, they need to act fast before investors disappoint over the absence of tangible policy response. Source link
Looking for setups to trade to start your trading week? I gotchu with EUR/AUD’s possible turn from a technical resistance area! Let’s take a look at the 1-hour time frame: EUR/AUD 1-hour Forex Chart by TV As you can see, the pair is knocking at a range resistance that hasn’t been broken since late June. Add an overbought Stochastic signal and you can see how at least some euro bears or Aussie bulls will notice. The Reserve Bank of Australia’s (RBA) policy decision in the next Asian session could make or break EUR/AUD’s recent upswing. Word around is that the…
Between July 6th and July 17th, the EUR/USD showed a remarkable upward trend, soaring from 1.08536 to 1.12484. Yet, the tides have shifted since then, as the pair embarked on a correction phase, experiencing a decline of around 1%. As forex traders gear up for what promises to be a busy week ahead, the EUR/USD is currently trading at 1.11221, leaving market participants eagerly awaiting new developments from the Fed and the ECB. Daily EUR/USD Chart – Source: ActivTrader’s data on TradingView A crucial week for the EUR/USD The week ahead promises to be a significant one for economic and…
© Reuters. Investing.com– Oil prices fell slightly on Monday after weak business activity data from China pointed to worsening economic conditions in the world’s largest oil importer, although the prospect of more stimulus measures in the country kept losses limited. Prices were sitting on five straight weeks of gains, and were also set for stellar gains in July as signs of tightening global supplies this year invited more long positioning in crude markets. But this rally now appeared to be on hold, amid continued signs of weak economic conditions in China. Markets were also awaiting more cues on the U.S.…
Joe Raedle/Getty Images News Trucker Yellow Corp. (NASDAQ:YELL) has sent out notices to customers and employees saying it has ceased all operations, and the Teamsters union said the company notified the union it intends to file for bankruptcy, The Wall Street Journal reported Sunday. A failure would imperil nearly 30K jobs, including ~22K Teamsters members, after hundreds of Yellow’s (YELL) non-union employees were laid off Friday as the company stopped taking in new shipments from customers. Customers say disruptions should be limited, according to the report, after many shifted their cargoes to rivals in recent weeks, hastening Yellow’s (YELL) demise.…