Pres Biden is out saying: He has an understanding of how and when Israel is going to respond to the missile attacks by Iran but declines to give details He also says that there’s the possibility of working for a cease-fire in Lebanon, it’s going to be harder in Gaza The news does not sound very threatening or concerning….
The Aussie Dollar benefits from a weaker US Dollar and strong employment data. China’s economic slowdown weighs on risk sentiment and limits AUD gains. Soft housing data also weighed on the USD on Friday. The AUD/USD pair extended its recovery momentum on Friday and rose mildly to 0.67055, with a positive risk tone and hawkish Reserve Bank of Australia…
UPCOMING EVENTS: Monday: PBoC LPR. Tuesday: Canada PPI. Wednesday: BoC Policy Decision. Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, US Jobless Claims. Friday: PBoC MLF, Tokyo CPI, German IFO, Canada Retail Sales, US Durable Goods Orders. Monday The PBoC is expected to cut the LPR rates by 20 bps bringing the 1-year rate to 3.15% and the 5-year rate to 3.65%. This…
US Dollar weakens on Friday due to profit-taking. Fed speakers set to comment on monetary policy on Friday, which might set the late session’s pace. US housing data shows a decline in Building Permits and Housing Starts. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, is declining on Friday…
aCrude Oil Futures Weekly Forecast: Bears in Control, Watching Key Support Levels 📉 Crude Oil Futures (CL1!) are showing clear signs of bearish momentum, with prices falling sharply in recent weeks. This is reflected in the weekly chart, where the market has consistently respected a long-term descending resistance line (marked in red as the bottom of the triangle) stretching…
NZD/JPY edges lower under the 91.000 mark as selling pressure mounts. RSI declining, suggesting falling buying momentum. The 20-day SMA continues to be a strong barrier. In Friday’s session, the NZD/JPY pair declined by 0.20% to 90.80, encountering increased resistance and losing ground still holding the key 20-day Simple Moving Average (SMA). NZD/JPY daily chart The daily Relative Strength…
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USD/JPY retreats from a two-month high of 150.32, pressured by a decline in US Treasury yields. The pair faces key resistance at the 100-DMA and top of the Ichimoku Cloud around 150.84/151.50 before turning bullish. Further declines could see USD/JPY testing support at 148.84, with a potential drop to 147.35 if sellers gain momentum. The USD/JPY retreats after hitting…
Shares of Apple are trading at $235 or up $2.85 or 1.22%. Closing this level would suppress the all-time high close level of $234.82 reached on July 16. Wedbush was out with a report today saying Apple’s iPhone 16 sales in China are forecasted to see a significant rebound over the next year. The analysts cite data from Counterpoint,…
GBP/USD found the gas for a thin rally on Friday. Upbeat UK Retail Sales figures helped the Pound find its footing. A broad-market pivot out of the Greenback further aided Dollar pairs. GBP/USD extended a near-term recovery rally to wrap up the trading week, inching back in a familiar congestion zone and clawing back meager gains from the midweek’s…