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...
What Will the Fed Signal at Jackson Hole?
The Federal Reserve’s annual economic symposium will come to a crescendo when Chairman Powell speaks on Friday at 14:00 GMT. There was a lot of buzz that the Fed would use this event to warn it will dial back its...
Mexico’s Data Off to a Bad Start after Latest Banxico Meeting: USD/MXN
Mexico released its mid-month inflation rate for August at 5.57% YoY vs 5.74% expected and 5.75% last. Recall that Mexico’s central bank, Banxico, hiked rates on August 12th from 4.25% to 4.5%. Expectations for inflation remain relatively high in the...
Rebound Stalls ahead of Jackson Hole
The week got off to a strong start on Monday but momentum is already waning, with European stocks a little flat and US futures only marginally higher. Investors were keen to buy dips at the start of the week and...
NZD Rises on Hawkish RBNZ Comments, Euro and Dollar Soft
New Zealand Dollar rises broadly today after a top RBNZ official indicated that the decision to refrain from rate hike was mainly due to communication difficulty. Instead, the central bank is actively considering a 50bps hike. Strong rebound in Asian...
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