The S&P 500 falls back over concerns that inflation is yet to peak. Divergence between the 20 and 30-day moving averages indicates an acceleration to the upside. The current recovery may have gained traction after Read more…
Sterling treads water as the market expects a contraction in the UK’s Q2 GDP. The latest rebound came under pressure near the support-turned-resistance at 0.8470 which sits on the 30-day moving average. A bounce off Read more…
The US dollar consolidates as traders reassess future rate hike moves by the Fed. A bearish RSI divergence and MA cross on the daily chart suggest the start of a correction. A short-lived rebound came Read more…
UK GDP contracted -0.6% mom in June, better than expectation of -1.3% mom. All main sectors contributed negatively to the monthly GDP estimate. Services was the main contributor, down -0.5%. Production dropped -0.9% mom. while Read more…
GBP/AUD finally broke out from medium term consolidation and resume down trend this week. EUR/AUD is also following and look ready for down trend resumption too. The development came as commodity currencies generally responded better Read more…
San Francisco Fed President Mary Daly told Bloomberg TV overnight that 50bps rate hike “is the case” for September FOMC meeting. But added, “I am open to 75 should the data evolve differently.” Daly didn’t Read more…
USD/JPY: On the H4, prices are still respecting the descending trend and are testing the 50% fibonacci retracement. If prices continues with the bearish momentum, we are looking at price pulling back to test at Read more…
Key insights from the week that was. This week provided cause for optimism over US inflation and global equity markets rallied as a result. Domestically, strength was seen in business conditions and confidence, but consumer Read more…
Key Highlights USD/JPY started a fresh decline below the 135.00 support zone. A connecting bearish trend line is forming with resistance near 134.20 on the 4-hours chart. GBP/USD is eyeing more gains above the 1.2300 Read more…
Perhaps a bit of basing and consolidation is needed for the metal to gear up for a clean breakout above $1800. Gold has struggled to keep up its recent bullish momentum despite inflation data supporting Read more…