GBPJPY Bulls Hang in there Despite Minor Pullback to 157
GBPJPY’s strong two-week rally, which began from 149.50 has lost steam just shy of the 157.84 level and the more than 5-year high of 158.20, the former being the 161.8% Fibonacci extension of the down leg from 144.94 until 124.00....
US 30 Retreats from All-Time High as Bearish Forces Reign
The US 30 stock index (cash) has been experiencing a minor pullback in the last few four-hour sessions since its long-term rally peaked at the all-time high of 36,950. Moreover, the price crossed below its 50-period simple moving average (SMA), reinforcing...
Markets Steady as NFP Awaited, EUR/USD Still in Range
Markets are generally steady as focus turns to non-farm payroll from US today. For the week so far, Sterling and Dollar are still the strongest ones, as supported by strong rally in benchmark yields and expectation of hawkish central bank...
Stock futures inch higher ahead of key jobs report
U.S. stock index futures were little changed during overnight trading on Thursday, ahead of Friday’s key jobs report. Futures contracts tied to the Dow Jones Industrial Average gained 65 points. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures added...
EUR/USD and GBP/USD Look Lower: Elliott Wave Analysis
Hawkish FED is causing a sharp reversal in the markets, with stocks coming down as US yields rise which makes USD very strong across the board. So we think that volatility is likely going to stay here because of Central...
Equity Bulls Deflated by Hawkish Fed
Stock markets are limping into Thursday’s session in a frightened state after the minutes from the December Federal Reserve meeting pointed to a faster than expected hike in interest rates. Asian stocks flashed red this morning following the heavy selloff...
Stock futures muted on Wall Street after Wednesday’s sell-off
Stock futures were muted in early morning trading Thursday after the major U.S. stock averages fell sharply in the first losing regular trading session of the year. Futures on the Dow Jones Industrial Average shed 6 points, or 0.02%. S&P...
Eurozone Inflation to Ease Slightly; Bad News for Euro?
The flash inflation estimates for December will hit the market on Friday at 10:00 GMT. The headline rate is anticipated to edge lower, but remain extremely elevated. Upcoming data are not expected to offer the much needed positive relief for...
USD/CAD Analysis: Reveals New Support Zone
At mid-day on Tuesday, the USD/CAD declined and confirmed the existence of a support zone at 1.2668/1.2677. Meanwhile, the pair appeared to be almost ignoring the 50-hour simple moving average, the weekly simple pivot point and the previous low and...
AUD/USD Analysis: Recovery Touches 0.7250 Level
On Tuesday, the rate conducted another decline to the September low and December high-level zone at 0.7170/0.7185, before starting a sharp recovery. By 16:00 GMT, the rate had already touched the 0.7250 level. The 0.7250 mark caused a minor decline,...