Market picture Bitcoin has rebounded 3% in the last 24 hours to $19.3K. On Wednesday, it updated 2.5-month lows just above $18.5K before getting buyers’ support. Ethereum almost bounced back from its last dip, adding Read more…
AUDUSD almost touched July’s 26-month low of 0.6680 on Wednesday before bouncing up to finish the session with mild gains. The soft upward move, however, was not enough to shift the odds to the bullish side as Read more…
WTI oil futures (October delivery) have been losing ground since mid-August when the price failed to surpass the 97.70 mark. Moreover, apart from the price trading below its lower Bollinger band, the 50-day simple moving average (SMA) Read more…
The current structure of the XAUUSD pair hints at a global correction pattern, which takes the form of a cycle triple zigzag. The last section of the chart shows the structure of the bearish cycle Read more…
The Canadian dollar found support after the BoC raised interest rates by 75 bps as expected. The pair has been hovering under July’s high at 1.3220. A bullish MA cross on the daily chart and Read more…
The Japanese yen recoups some losses as the Q2 GDP growth beats expectations. The dollar’s rally gained momentum after it lifted July’s high at 139.40. 145.00 is a hurdle and may see some profit-taking after Read more…
The euro recoups losses as traders expect a 50bp interest rate increase by the ECB. A bearish MA cross on the daily chart following a brief consolidation shows that the mood remains cautious at best. Read more…
EUR/USD The single European currency recovered some of its recent losses against the dollar and the price breached the resistance at 0.9985. If the bullish attack continues, then a successful violation on the next target Read more…
Markets The biggest move in core bonds happened on UK soil. Gilt yields crashed 20bps at the front end of the curve. Some BoE officials, testifying before Parliament, pointed out that the new government’s energy Read more…
Yesterday, the Bank of Canada (BoC) raised its policy rate by 75bp at yesterday’s meeting, as expected. Today, the European Central Bank (ECB) will decide by how much they will be raising their policy rates. Read more…