Dollar remained relatively steady following the balanced post-FOMC press conference, with notable exceptions against the stronger yen and Swiss franc. Fed Chair Jerome Powell explicitly mentioned the possibility of a rate cut in September but Read more…
Today’s focus is squarely on BoE’s rate decision, with significant uncertainty surrounding whether the first rate cut will be initiated to kick-start the policy easing cycle. Communications from various MPC members have shown no clear Read more…
China’s Caixin PMI Manufacturing dropped from 51.8 to 49.8 in July, falling below the expected 51.6. S&P Global noted that output expanded at the slowest pace in nine months, average selling prices declined, and input Read more…
Japan’s PMI Manufacturing was finalized at 49.1 in July, down from June’s 50.0, indicating that the sector is back in contraction streak since early 2023. Usamah Bhatti of S&P Global Market Intelligence described the sector’s Read more…
Japan confirmed its intervention in the currency market last month following Yen’s drop to a 38-year low against Dollar. This intervention marked the turning point for Yen’s massive month-long rally, which continues this week following Read more…
US stocks closed higher overnight as investors cheered Fed Chair Jerome Powell’s suggestion that a September rate cut is “on the table.” Nevertheless, he emphasized that any decision would hinge on the “totality” of incoming Read more…
Key Highlights GBP/USD declined steadily before the bulls appeared at 1.2800. It cleared a connecting bearish trend line with resistance at 1.2840 on the 4-hour chart. Gold started a fresh increase and surpassed the $2,400 Read more…
Short Term Elliott Wave in USDJPY suggests that cycle from 7.3.2024 high is in progress as a double three Elliott Wave structure. Down from 7.3.2024 high, wave A ended at 155.37 and rally in wave Read more…
The scene is set for a September first cut by the FOMC. The underlying inflation trend warrants a series of cuts at a measured pace to a 3.375% terminal by mid-2026. At the July meeting, Read more…
S&P 500 index reversed from support zone Likely to rise to resistance level 5585.00 S&P 500 index recently reversed up from the support zone located between the support level 5400.00, daily Bollinger Band and the Read more…