Here is the state of play after Powell’s speech at Jackson Hole in equity markets: S&P 500 up 1.3% Nasdaq Comp up 1.8% Russell 2000 up 2.2% DJIA +1.0% There is some resistance in the S&P 500 right now as it challenges yesterday’s opening high. If that doesn’t crack, then watch out for profit taking despite a dovish speech….
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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does…
Mon: UK Market Holiday (Bank Holiday), German Ifo (Aug) Tue: CBRT Minutes, Chinese Industrial Profit (Jul), German GfK Consumer Sentiment (Sep) Wed: Australian CPI (Jul), Nvidia (NVDA) Earnings (Q2) Thu: Spanish Flash CPI (Aug), German State CPIs (Aug), EZ Sentiment Survey (Aug), US GDP (2nd) and PCE (Q2) Fri: Japanese Tokyo CPI (Aug), French Prelim CPI (Aug), German Unemployment…
NZD/USD rose by 1.55% to close at 0.6235. The RSI has risen above 70, while the MACD is showing rising green bars, indicating strong bullish momentum. A break above 0.6250 could lead to a further rally towards 0.6300. In Friday’s session, the NZD/USD rose by 1.55% to 0.6235, ending the week on a strong bullish note. The pair has broken…
UPCOMING EVENTS: Monday: PBoC MLF, German IFO, US Durable Goods Orders. Tuesday: US Consumer Confidence. Wednesday: Australia Monthly CPI, Nvidia Earnings. Thursday: US Q2 GDP 2nd Estimate, US Jobless Claims. Friday: Tokyo CPI, Japan Retail Sales, Eurozone Flash CPI and Unemployment Rate, Canada GDP, US PCE. Tuesday The US Consumer Confidence is expected at 100.1 vs. 100.3 prior. The…
GBP/USD vaulted over 1.3200 on broad-market Greenback weakness. Fed gave a head nod to impending rate cuts, sending risk appetite into the ceiling. Coming up next week: UK Monday holiday, US GDP and PCE inflation. GBP/USD found a Fed-fueled surge on Friday, climbing roughly a full percent through the day’s trading and closing the week with a seventh consecutive…
The S&P 500 pulled back in a round of profit taking after initially failing to break yesterday’s high but the FX market isn’t having any doubts. EUR/USD is at the highest in a year, up 78 pips to 1.1190. It’s not just the euro either as the US dollar falls to the lows of the day across the board….
DXY Index declines as investors favor riskier assets following Powell’s dovish speech. Powell hinted that the economic outlook is coming closer to the Fed’s goal. Markets have already priced in a September cut. The US Dollar (USD), measured by the US Dollar Index (DXY), resumed its decline on Friday, falling from below the 101.00 level due to a shift…
