The selloff in Nvidia deepened yesterday and sent the shares into the correction territory following a 10% selloff. Nvidia shares erased around $430 bn in market cap over the past three sessions. The selloff hit Read more…
In focus today Today’s schedule is light in terms of data releases. In the US we get the Conference Board Consumer Confidence numbers for June at 16.00 CEST. A Reuters poll has consensus expecting 100.0, Read more…
Daily Pivots: (S1) 158.95; (P) 159.43; (R1) 160.11; More… A temporary top should be formed at 159.92 in USD/JPY and intraday bias is turned neutral first. Further rise will remain in favor as long as Read more…
Trading in the Asian session has been quiet today and is expected to remain so during the European session, given the empty economic calendar. However, Yen continues to be a significant focus among market participants. Read more…
Short Term Elliott Wave in XAGUSD (Silver) suggests cycle from 5.20.2024 high remains in progress as a double three structure. Down from 5.20.2024 high, wave ((a)) ended at 30.03 and wave ((b)) rally ended at Read more…
Australia’s Westpac Consumer Sentiment rose 1.7% mom to 83.6 in June. However, the index remains deeply pessimistic, well below neutral level of 100. Although assessments of personal finances and buyer sentiment have become less negative, Read more…
BoC Governor Tiff Macklem emphasized overnight that the central bank doesn’t want monetary to be “more restrictive than it has to be,”. Yet he also cautioned against lowering borrowing costs “too quickly” as it could Read more…
Key Highlights Bitcoin price started another decline below the $60,000 support zone. BTC is trading below a major bearish trend line with resistance at $63,800 on the 4-hour chart. EUR/USD remained stable and attempted to Read more…
San Francisco Fed President Mary Daly, in a speech last night, discussed the ongoing challenges with inflation and the labor market. Daly remarked that the inconsistent inflation data this year has not built confidence. While Read more…
During Monday’s session, the GBPJPY pair continued its uptrend, reaching a high of around 202.50, its highest level since 2007. Despite earlier attempts by sellers to push the pair down to 106.14, buyers regained control Read more…