Gold rallies as the market awaits US inflation data. A break above the 30-day moving average has helped the recovery gain traction. A rising trendline from late July indicates a bullish bias. The latest pullback Read more…
We’re seeing plenty of apprehension ahead of the US inflation report on Wednesday, with Asia in the red and Europe following suit. It’s impossible to get away from the fact that the inflation report has Read more…
Russia halted crude flows to Hungary, Slovakia, and Czech Republic yesterday because sanctions prevented payment of a transit fee. The news didn’t trigger a bull run in crude oil yesterday, though pushed the price of Read more…
Market movers today The most important data release of the day will be the US July CPI. Following the recent decline in gasoline prices, consensus is expecting headline CPI growth to ease to 0.2% m/m Read more…
Daily Pivots: (S1) 0.6946; (P) 0.6970; (R1) 0.6987; More… Range trading continues in AUD/USD and intraday bias remains neutral. On the upside, break of 0.7045 will resume the rebound from 0.6680 to 0.7282 key resistance Read more…
The forex markets are somewhat in hibernation mode this week. Dollar is currently the weakest one, followed Yen. Commodity currencies are generally firm. But Swiss Franc is the strongest, thanks to buying against the weakening Read more…
It’s been a very quiet week in the markets so far, and today’s US consumer inflation release should bring trading back to life. Economists are expecting headline CPI to slow from 9.1% yoy to 8.7% Read more…
St. Louis Fed President James Bullard said in an MNI interview, “we may see some relief in the headline CPI tomorrow but the reason we tend to track core PCE inflation is exactly because we Read more…
USD/JPY: On the H4, price is still bullish biased as it fails to pull back to the first support the previous session. It is currently moving towards the first resistance at 135.599 which coincides with Read more…
Key Highlights AUD/USD climbed above 0.7000 before it corrected lower. A key breakout pattern is forming with resistance near 0.6980 on the 4-hours chart. EUR/USD is still facing a strong resistance near the 1.0280 level. Read more…