Cryptocurrencies
XAG/USD Tests Major Resistance
Silver extends its recovery on the back of a weak US dollar. The metal saw support at the psychological level of 22.00. A break above the resistance at 22.80 and then an acceleration to the Read more…
Cryptocurrencies
EUR/GBP Stuck in Bearish Trend
The euro rose after ECB Vice President Luis de Guindos said the inflation spike may last longer than projected. Nonetheless, the bearish sentiment still prevails after the pair failed to hold on to 0.8370. The Read more…
Cryptocurrencies
US 100 Revisits Major Support
The Nasdaq 100 faltered after an unexpected rise in US initial jobless claims. The tech index bounced off the demand zone around 15200 which used to be a resistance on the daily chart. A bullish Read more…
Cryptocurrencies
UK GDP grew 0.9% mom in Nov, back above pre-pandemic level
UK GDP rose strongly by 0.9% mom in November, well above expectation 0.4% mom. Looking at some details, services grew 0.7%, production rose 1.0% mom, and production increased 3.5% mom. Monthly GDP was back above Read more…
Cryptocurrencies
Sunrise Market Commentary
Markets US equities suffered a violent sell-off yesterday. Investors especially targeted the Nasdaq (-2.51%). The tech-heavy stock index is sensitive to (expectations of) higher rates. This is probably what drove Thursday’s move. In her Fed Read more…
Cryptocurrencies
US Dollar Index Moves Sideways ahead of US Retail Sales Data
US stocks wavered on Thursday ahead of the earnings season that kicks off today. The Dow Jones rose by over 100 points while the tech-heavy Nasdaq 100 index declined by about 80 points. The key Read more…
Cryptocurrencies
Will Earnings Reverse the Fed-Induced Pessimism?
Optimism about a less dovish speech from the Federal Reserve (Fed) Chair Jerome Powell and a ‘not higher than expected inflation print earlier this week remained rather short-lived, as other FOMC officials didn’t beat about Read more…
Cryptocurrencies
Monetary Policy Tightening Focus
Market movers today Today is the last day that the Fed can send any signals ahead of the January meeting, as the blackout period starts tomorrow. With the Fed signalling increasing support for a March Read more…
Cryptocurrencies
GBP/JPY Daily Outlook
Daily Pivots: (S1) 156.07; (P) 156.76; (R1) 157.21; More… Intraday bias in GBP/JPY remains neutral for consolidation below 157.74. Further rally is expected with 154.86 support intact. On the upside, decisive break of 158.19 high Read more…
Cryptocurrencies
EUR/JPY Daily Outlook
Daily Pivots: (S1) 130.45; (P) 130.94; (R1) 131.27; More…. Intraday bias in EUR/JPY remains neutral as consolidation from 131.59 is still extending. Further rise is expected with 130.01 support intact. Whole consolidation from 134.11 could Read more…