US 500 Index Strongly Bullish; Looking Overbought
The US 500 index reached another all-time high of 3,397.36 earlier today as the index extends one of its fastest bulls run in its history. The momentum indicators are looking overbought as the RSI is flattening near the 70 level,...
Dollar Stays Pressured ahead of FOMC Minutes, Gold Retreats
Dollar remains generally pressured today even though selling momentum seems to be easing a little bit. A focus will be on FOMC minutes which is unlikely to provide anything about the next policy move. Instead, investors would be more eager...
S&P 500 Closes At Record High As US Dollar Plunges
The Japanese yen weakened against the US dollar as investors reacted to mixed trade and machinery order numbers from the country. According to the Cabinet Office, the country’s core machinery orders declined by 22.5% on a year-on-year basis in June....
European markets set to open slightly higher after record highs on Wall Street
European stocks are set to open slightly higher on Wednesday, following a strong session stateside that saw the S&P 500 hit a fresh record high. Britain’s FTSE is seen climbing 14 points to 6,083, Germany’s DAX up by 21 points...
GBP/JPY Could Restart Uptrend If It Clears 140.00
Key Highlights GBP/JPY is trading in a positive zone above the 138.00 and 138.40 support levels. GBP/USD extended its rise above the 1.3200 resistance zone. The UK CPI is likely to increase 0.6% in July 2020 (YoY), similar to the...
Walmart says consumer spending dropped as stimulus checks ran out
Walmart’s fiscal second-quarter sales got a boost from this spring’s stimulus checks, but that tapered off in July as shoppers spent that money. Now, the retail giant is waiting to see if the government will put more cash in consumers’...
Wholesale banking: ABN Amro cuts now, but ING is next
Think of a European bank that needs to shrink its corporate and investment bank. Deutsche Bank or Societe Generale probably come to mind, but ABN Amro’s decision to run down all corporate banking outside Europe – and exit commodity trade...
FOMC Minutes: Setting the Stage for September
The minutes of the latest Fed meeting will hit the markets at 18:00 GMT Wednesday. Investors will look for any hints as to the Fed’s next move, which will probably be to strengthen the forward guidance. Clear signals that this...
German DAX Eyeing 12200/11600 Area – Elliott Wave Analysis
DAX has recently found a high for a higher degree wave I at 13318 level, so latest price activity can be part of a three-wave correction within a wave II. We see leg A of II as completed, so recent...
Dollar Breaks Near Term Support, Starting Another Leg in Down Trend
Dollar’s selloff accelerates entering into US session, taking out recent lows against all major currencies except Yen. Another leg in the near term down trend has started. Swiss Franc and Yen are the next weakest, together with New Zealand dollar....
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