The Nasdaq 100 rallies supported by growing risk appetite. A rally above 12900 has put the index back on track after short-term selling interests cut their losses. Last May’s high at 13550 is a key Read more…
The US dollar softens as traders take profit ahead of July’s job data. On the daily chart, the pair is seeking support in a pennant consolidation and it would be too soon to call a Read more…
The pound treads water as the BoE warns of a recession after raising rates by 50 bps. The rebound came to a halt at 1.2300, a major resistance from the daily chart. A bearish RSI Read more…
Markets The Bank of England policy meeting was widely watched yesterday, not only by UK but also by European and US markets. Governor Bailey’s MPC raised rates by 50 bps to 1.75%, following global peers Read more…
Daily Pivots: (S1) 1.0183; (P) 1.0219; (R1) 1.0282; More… Range trading continues in EUR/USD and intraday bias remains neutral. With 1.0095 minor support intact, further rise is still mildly in favor. Rebound from 0.9951 will Read more…
The currency markets are quiet overall as focus now turns to US job data. The post BoE selloff in Sterling didn’t last long. Meanwhile, Dollar is still range bound against Euro and Yen. The greenback’s Read more…
US non-farm payroll report is a major focus today. Employment is expected to grow 250k in July. Unemployment rate is forecast to be unchanged at 3.6%. Average hourly earnings would maintain a growth pace of Read more…
Australia AiG Performance of Services rose 2.9 pts to 51.7 in July. Sales jumped 7.4 to 49.3. However, employment dropped -2.9 to 52.4. New orders rose 1.7 to 50.6. Supplier deliveries rose 5.9 to 47.6. Read more…
Cleveland Fed President Loretta Mester said that “interest rates continue to rise this year and into next year through the first half and maybe by then we can pause and we can start bringing them Read more…
USD/JPY: On the H4, price is slightly bullish biased as it fails to break the first support. It is now going to test at the first support at the first resistance where the 50% retracement Read more…