Volatile Durable Goods Orders Decline in July: DXY
Orders for large ticket items, such as aircraft and autos, fell by -0.1% MoM in July vs expectations of -0.3% and a reading of +0.8% in June. One of the reasons Durable Goods Orders is so volatile is because of...
Markets Steady ahead of Jackson Hole
Back on the fence A relatively muted session on Wednesday as investors sit on the fence ahead of the Jackson Hole Symposium later in the week. It’s all gone very quiet in the markets, which is hardly surprising under the...
House vote on $3.5 trillion budget raises prospect of higher taxes on the rich
Phil Roeder The prospect of higher taxes for wealthy Americans edged closer on Tuesday as House Democrats passed a $3.5 trillion budget plan. That framework lays the groundwork for Democrats to write formal legislation that can pass without one Republican...
AUD/USD: Bulls are Pausing and Awaiting Fresh Signals from Jackson Hole Event
The AUDUSD is holding within narrow consolidation on Wednesday, after Mon-Tue bounce retraced over a half of last week’s sharp bearish acceleration which hit a multi-month low at 0.7106. Fresh bulls faced strong headwinds from falling 10DMA (0.7252) while rising...
Dollar Continues to Recover after Durable Goods Orders, Markets Mixed
Dollar continues to pare back some of this week’s losses in early US session, after slightly better than expected durable goods orders. But strength of recovery is so far relatively weak. Markets are also generally in mixed mode. Euro has...
AUD Rally Pauses Ahead Of Jackson Hole
Australian dollar drifting After plenty of volatility over the past week, the Australian dollar has settled down on Wednesday. AUD/USD is currently trading at 0.7251, down 0.09% on the day. The Aussie has sparkled this week, with gains of 1.5%....
Dollar Recovers Mildly as Selling Slows, Traders Turning Cautious
Dollar recovers mildly in Asian session today as selling lost some momentum. On the other hand commodity currencies are turning softer. Australian Dollar continues to be weighed down by surging coronavirus cases, as the State Premier also warned of “lots...
Elliott Wave View: SPX Shows Incomplete Bullish Sequence
Short-term Elliott wave view in S&P 500 (SPX) suggests cycle from July 20, 2021 low remains incomplete favoring more upside. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure. Up from July 20 low, wave 1...
Stock futures are flat after S&P 500 posts record close
U.S. stock index futures were little changed during overnight trading Tuesday, after the S&P 500 and Nasdaq Composite closed at record highs during regular trading. Futures contracts tied to the Dow Jones Industrial Average gained 18 points. S&P 500 futures...