It’s been fairly one way traffic for equities since Asia trading. S&P 500 futures were lightly changed earlier in the day but are now up by roughly 0.5% ahead of US trading. Wall Street opened higher yesterday but surrendered gains during the session to close modestly lower. It can be argued that there was some pre-Powell angst perhaps but…
The Pound Sterling outperforms the US Dollar as Fed rate-cut bets remain firm. Investors await the speeches from Fed Powell and BoE Bailey to get fresh guidance on the US and the UK interest-rate outlook. The BoE is expected to cut interest rates gradually. The Pound Sterling (GBP) performs strongly against its major peers, except Asia-Pacific currencies, on Friday. The…
2024.08.23 2024.08.23 Short-term Analysis for Oil, Gold, and EURUSD for 23.08.2024 Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/ I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Yesterday, the euro traded in a downward…
Profit-taking was the name of the game on Thursday as the major assets reversed their intraweek trends ahead of Powell’s keynote speech on Friday. Spot gold and the S&P 500 index continued to trade lower near their record high levels, while U.S. bond yields and the U.S. dollar saw recoveries despite mixed U.S. data releases. Which themes dominated the…
Eurostoxx +0.2% Germany DAX +0.2% France CAC 40 +0.3% UK FTSE +0.3% Spain IBEX +0.6% Italy FTSE MIB +0.6% S&P 500 futures are up 0.4% as risk sentiment holds steadier to start the session. All eyes are on Fed chair Powell’s appearance later today to set the mood before the weekend. It is anticipated that he will confirm expectations…
The Japanese Yen appreciates following the speech from the BoJ Governor Kazuo Ueda. Japan’s National CPI rose by 2.8% YoY in July, remaining at its highest level since February. Fed Chair Powell may deliver a statement about the possibility of rate cuts at the Jackson Hole Symposium. The Japanese Yen (JPY) strengthens against the US Dollar (USD) following the…
Spot gold prices took a breather after making new record highs earlier this week. Is the commodity ready to extend its uptrend after falling to a technical support zone? Today’s 4-hour chart may give us some clues! Gold (XAU/USD) 4-hour Chart by TradingView If you missed yesterday’s market price action, you should know that the U.S. dollar saw buying…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
The Australian Dollar gains ground due to an improved risk-on mood on Friday. The AUD may appreciate further due to the hawkish sentiment surrounding the RBA’s stance on its policy outlook. The US Composite PMI indicated that business activity continues to grow, marking 19 consecutive months of expansion. The Australian Dollar (AUD) retraces its recent gains against the US…
2024.08.22 2024.08.22 EURUSD Bulls Buy Rumors. Forecast as of 22.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ If the US labor market is not as robust as anticipated, the optimal time for the Fed to reduce rates is now. In fact, some FOMC officials were prepared to do so as early as July. Let’s discuss this topic and make a trading plan for the…
