The Dow Jones 30 fell back after major financial stocks reported lower profits in the second quarter. A rally back above the 30-day moving average near 31500 indicates solid interest in keeping the index steady. Read more…
Oil markets rallied as Saudi Arabia did not yield to pressure from US President Biden’s to boost supply. A fall below the psychological level of 100.00 and a bearish MA cross on the daily chart Read more…
The Australian dollar finds support from upbeat RBA meeting minutes. A break above 0.6790 has prompted some sellers to cover their bets, easing the downward pressure for now. The former resistance has turned into a Read more…
EUR/USD During yesterday’s trading session, the bulls’ attack was thwarted around the resistance level at 1.0186. The buyers lost their momentum and the bears in turn took control over the market, paving their way towards Read more…
Markets Especially European markets yesterday showed a remarkable risk-on mood despite multiple event risks (ECB meeting, Italian political crisis, Russian gas supply to Europe, EMU PMI’s) looming large over the next days. Several (also hawkish) Read more…
UK number of payrolled employees rose 31k in the month of June to a record 29.6m. Comparing with June 2021, payrolled employees rose 3.0% or 874k. Claimant count dropped -20k in the month, versus expectation Read more…
Daily Pivots: (S1) 0.6783; (P) 0.6819; (R1) 0.6848; More… Intraday bias in AUD/USD remains neutral with focus on 0.6873 minor resistance. Firm break there should confirm short term bottoming at 0.6680, on bullish convergence condition Read more…
Australian Dollar trades mildly higher in Asian session, after RBA minutes affirmed that further tightening is underway. New Zealand is also supported by somewhat steady risk sentiment. Canadian Dollar is also limited after WTI crude Read more…
In a speech, RBA Deputy Governor Michelle Bullock said households are in a “fairly good position” for interest rate increases. It’s “unlikely” that there will be substantial financial stability arising from the household sector, but Read more…
In the minutes of the July 5 meeting, RBA noted that members considered raising interest rates by 25bps or 50bps. The arguments for a 50bps hike were “stronger”. “The level of interest rates was still Read more…