GBPJPY Makes Slight Headways From Bottom Of Range
GBPJPY has pushed higher off a two-month low of 148.94 and is finding some difficulty in extending the move far above the 150.00 mark. The bearish simple moving averages (SMAs) are endorsing the decline from the 152.84 peak, while the...
GBP/USD: BoE Faces Major Dilemma
Like many other major central banks, the Bank of England faces a major dilemma: start reducing stimulus in the face of the rapidly rising inflationary pressures or let inflation cool down naturally as the impact of supply bottlenecks, energy price...
AUDUSD Resilient Above 0.7230, But Still Under Bearish Risk
AUDUSD was unsuccessful in piercing the 0.7300 level late on Wednesday but resilient enough to hold above the familiar base of 0.7230, where the bulls found some footing in the last week of August and market actions paused in the...
WTI Futures Holds A Bullish Bias But Strong Resistance Awaits Near 73.00
WTI futures are climbing above the Ichimoku cloud and the bullish crossover within the 20- and 40-day simple moving averages (SMAs), challenging again the previous days’ high of 72.86.According to the technical indicators, the MACD is overcoming its trigger line...
Markets Responded Positively to FOMC, Sterling Stays Soft ahead of BoE
Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both...
Stock futures are flat after Dow, S&P snap 4-day losing streak following Fed decision
U.S. stock index futures were little changed during overnight trading on Wednesday after the Federal Reserve kept benchmark interest rates unchanged, while indicating no immediate intention of removing stimulus policies. Futures contracts tied to the Dow Jones Industrial Average gained...
FOMC Review: Tapering will Start “Soon” while First Rate Hike may Come in as Soon as 2022
The Fed turned more hawkish in September, with the first rate hike pushed forward to 2022. Fed Chair Jerome Powell indicated that QE tapering will come “soon”. The staff downgraded the GDP growth forecast for this year, but revised higher...
Gold – Is it Still a Flight to Safety?
On Monday, majority US equity indices were hit hard, with their biggest one-day selloff in months. The S&P 500 closed -73.50 on the day, the Dow Jones Industrials were -614, and the NASDAQ 100 was -316.50. All broke through key...
Stocks Rally ahead of the Fed
Stock markets are looking surprisingly bullish ahead of the Federal Reserve decision later today, with Europe posting gains above 1% and the US not far behind. It seems all of the unease around Evergrande in recent days is abating, with...
Existing home sales fall 2% as first-time buyers are priced out
Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the first annual decline...
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