ECB Preview: New Forward Guidance to Reflect New Inflation Target
ECB’s conclusion of the strategy review on July 8 has made this week’s meeting very important. Policymakers adjusted the inflation target to a symmetric 2%, allowing a temporary overshoot. Despite the significant change, no monetary policy is expected to change...
An Unconvincing Rebound, Oil Stabilizes, Gold Supported at 1800
Stock markets are back in the green on Tuesday but already we are seeing frailties in the rebound, with Europe having given back a chunk of its earlier gains. The run into the close may provide some comfort. These are...
Builders pull back as more homebuyers are priced out of the market
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters There are several signs in the market for newly built homes that point...
Sterling and Kiwi Fall on Fragile Market Sentiments, Dollar Strong
Overall sentiments in the financial markets remain rather fragile today, despite some stabilization. Major European indexes are trading slight up while DOW futures also gains over 150 pts at the time of writing. But there appears to be little support...
Stocks making the biggest moves premarket: Travelers, Halliburton, IBM, PPG & more
Check out the companies making headlines before the bell: Travelers – The insurance company earned $3.45 per share for its second quarter, easily beating the consensus estimate of $2.39. Revenue also topped forecasts, with Travelers benefiting from higher premiums, improved investment...
Yen Drifting, Japan CPI As Expected
The Japanese yen has settled down on Tuesday, after starting the week with strong gains. In the European session, USD/JPY is trading at 109.38, down 0.04% on the day. The yen remains relatively strong and dropped as low as 109.05...
EURJPY Hits 4-Month Low, Pivot Area Could Be Nearby
EURJPY raised the odds for a bearish trend reversal following the drop below the long-term ascending trendline and the Ichimoku cloud, with the 20- and 50-day simple moving averages (SMAs) further enhancing the bearish case after their recent intersection. The...
GBP/USD At The Critical Support
The GBP/USD is at critical support. Historical buyers are exactly in the zone 1.3565-1.3623. We should see a continuation to the upside if the price gets a bullish momentum. 1.3600-50 is the POC. Multiple swing points could switch momentum to...
Elliott Wave View: SPX Correcting Larger Degree Cycle
Since forming the bottom on March 2020 low, S&P 500 ($SPX) has started a new bullish cycle which brings the Index to all-time high. The entire rally from March 2020 low can be counted as 3 waves so far. Up...
Markets Stabilized after Massive Risk-Off, Yen Remains Firm
Overall market sentiments stabilized in Asia, after the massive risk-off trades in the US overnight. While Asia indexes are still down, losses are limited. Yen and Swiss franc are paring some gains but remain the overwhelmingly strongest ones. Commodity currencies...