The risk-on market sentiment struck government bond yields and the US dollar. UK’s IHS Markit Manufacturing PMI came at 57.1, better than expected. US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The GBP/USD is staging a recovery, trading at 1.3547, up more than a half percent during the day
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The market sentiment is upbeat weighs on US T-bond yields and the greenback. Eurozone inflation rose by 3.4%, above the ECB’s target, US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The EUR/USD is trimming losses, trading at 1.1596, barely up 0.13% during the day at the time of writing.
GBP/USD edges lower on Friday in the European trading hours. The pair lost almost 300-pips in a span of two days from the high of 1.3717. Double bottom support near 1.3410 brings much respite for GBP/USD. GBP/USD continues to consolidate for the past two sessions. The pair confides in a narrow trade band with a downside
NZD/USD bulls step in and target the 38.2% Fibo. The 50% mean reversion is eyed as a potential deeper target. US dollar is expected to be stronger for longer. NZD/USD is trading around 0.58% higher on the day and has risen from a low of 0.6859 to a high of 0.6921, coming close to its
GBP/JPY struggled to capitalize on its modest intraday gains to the 150.65 region. A modest USD weakness helped revive demand for the JPY and exerted pressure. Upbeat UK GDP print acted as a tailwind for the sterling and help deeper losses. The GBP/JPY cross surrendered its modest intraday gains and was last seen hovering near
Dow Jones Industrial Average rose 0.27%, to 34,390.92. The S&P 500 added 6.86 points, or 0.16% and the Nasdaq Composite fell 34.24 points or 0.24%. Wednesday was kinder to stocks on Wall Street, although the US Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate hindered progress in the benchmarks. Both the Dow and the S&P 500 index rose but
It has just been confirmed that Fumio Kishida has won the LDP leadership election effectively confirming him as Japan’s next PM. He is considered a moderate and has experience in various positions. The yen is set to shrug off the new Japanese leadership and continue to weaken due to rising US bond yields Kishida confirmed
GBP/USD bears taking control below critical weekly support. GBP/USD could break into new bearish longer-term ranges. GBP/USD tumbled around 1.27% on Tuesday and below the July-Sep lows amid risk aversion as a steep rise in US Treasury bond yields and fears for the economic impact of a shortage of gas in Britain overshadowed rate rise expectations
According to FX Strategists at UOB Group, USD/CNH is still seen trading between 6.4359 and 6.4880 for the time being. Key Quotes 24-hour view: “USD traded between 6.4540 and 6.4691 yesterday, narrower than our expected consolidation range of 6.4520/6.4700. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for
AUD/USD clings to the 0.7280-90 range despite broad-US dollar strength. China’s Evergrande worries ease, lifting the market sentiment. Fed’s Williams and Brainard supporting bond-tapering. During the European session, the AUD/USD dipped to 0.7248, but the pair advanced as American traders got to their desks. The AUD/USD is up 0.40% during the day, trading at 0.7290
EUR/SEK has moved lower but continues to trade in the recent 10.15-10.25 range. With the peak in the global industrial cycle as well as fading support from equities, economists at Danske Bank see headwinds for the export-exposed and pro-cyclical Swedish currency. They expect a weakening of SEK in the medium-term and forecast EUR/SEK at 10.50
Tesla (TSLA), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Facebook (FB) & Square (SQ) Technical Analysis Elliott Wave Forecast & Day Trading. US Stocks Technical Analysis Elliott Wave Forecast overview: Most stocks are starting Intermediate Wave (4) and we have starting shorting stocks. Elliott Wave Analysis Wave Count:Amazon AMZN Elliott Wave (4).Alphabet GOOGL Elliott Wave (4).Apple
Heading into a German Federal election on Sunday, the latest polls suggest that the race to the country’s leadership tightens, as the key candidates hold their final rallies. Sunday’s vote will mark the end of Chancellor Angela Merkel’s 16 years in office. Exit polls will be released when voting ends at 1600GMT on Sunday and
AUD/USD struggles at 0.7300 as the market mood is risk-averse. Evergrande’s failure to pay its bond interest weighs in the AUD. Australian Retail Sales and Building Permits for August could provide fresh impetus to AUD/USD. Earlier in the Asian session, the aussie was trading at daily highs around 0.7310’s, on the back of the positive
The Dow Jones and the S&P 500 finished the day with gains of 0.1% each, while the Nasdaq was unchanged. Evergrande’s uncertainty will carry on throughout the weekend. Stocks rose, despite the new Federal Reserve hawkishness. Nike fell 6.5%, claiming supply chains crunch and high freight shipping prices. Two of the three major US stock
GBP/USD Weekly Forecast: Rate laurels go the the US Federal Reserve BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after FOMC meeting. GBP/USD drops below 1.3700 in Friday trading. FXStreet Forecast Poll predicts stronger sterling. The Bank
The consensus is that growth in 2022 will be vigorous. However, we should not be overly positive about 2022 growth in the United States and the eurozone, in the opinion of economists at Natixis. Positive factors for growth in 2022 “The possibility that the significant savings that have been built up may be partially spent,
EUR/USD reversed its direction after dropping below 1.1700. FOMC-inspired US Dollar Index rally lost momentum on Thursday. Wall Street’s main indexes are posting impressive gains. Following Wednesday’s sharp decline, the EUR/USD pair spent the first half of the day moving sideways below 1.1700. With the greenback coming under renewed selling pressure during the American session,