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...
WTI Futures Rises Above Short-Term SMAs
WTI crude oil futures have been in a strong positive movement over the last 4-hour sessions, following the turning point at the 61.75 support level. The price jumped above the short-term SMAs and is moving towards the Ichimoku cloud. The RSI...
Stock futures inch higher after a broad rally on Wall Street amid vaccine approval
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. Andrew Kelly | Reuters Stock futures edged higher in early morning trading on Tuesday following a broad-based...
Market Morning Briefing: Dollar-Yen Continues To Hold Within 110.50-109 Zone
STOCKS Equities globally trade higher and look bullish for the near term. Dow and Dax may target 35500/750 and 16000 respectively while Nikkei, Shanghai, Nifty and Sensex look bullish too towards 28000, 3520/40, 16600/700 and 56000 respectively. Immediate view is...
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