Technical Analysis – AUDUSD snaps key barrier, but stronger efforts needed

Posted on July 29, 2021 at 6:47 am GMT

AUDUSD opened above the red Tenkan-sen line on Thursday, with scope to finally snap the Ichimoku line, which held the bulls under control since mid-June, and re-challenge the nearby 0.7400 resistance territory. The positive momentum in the RSI is currently endorsing the bullish action above the eight-month low of 0.7288, though some caution is still required as the indicator has yet to create a new higher high, maintaining a sideways trajectory below its 50 neutral level. The upside reversal in [..]


US Open Note – Stocks muted near highs, dollar firms

Posted on July 28, 2021 at 1:16 pm GMT

Markets prepare for FOMC release Yesterday’s consumer confidence for July ticked only marginally higher from June confirming optimism in the US, however, the dollar index weakened slightly, before stabilizing around the 92.50 level ahead of the Federal Open Market Committee meeting. Expectations are that Federal Reserve Chairman Jerome Powell will once again be watchful of his rhetoric towards tapering of asset purchases and the timeline and commencement of such actions. Markets will also be ready to digest any clues from [..]

Daily Market Comment – China selloff steadies but Wall Street wobbles; dollar eyes Fed

Posted on July 28, 2021 at 8:29 am GMT

China jitters spread to global equities but rebound may already be underway US shares slip despite stellar earnings amid China and peak growth concerns Will the Fed heighten or soothe market nerves? Dollar inches higher ahead of Fed decision despite subdued yields Somewhat calmer day for equities after Asian tumult Stocks in China were attempting to break their losing streak on Wednesday following three days of carnage triggered by regulatory tightening that targeted domestic tech giants and for-profit education firms. [..]


US Open Note – Stocks drift at record highs and dollar loses some resilience

Posted on July 27, 2021 at 1:35 pm GMT

Markets freeze as Fed meeting underway; US Consumer Confidence ahead It seems continued selling in Chinese tech giants has somewhat hampered risk appetite, which has been further muted as investors hold a cautious stance awaiting the conclusion of the Federal Reserve’s policy meeting tomorrow. The Fed is faced with a slightly more difficult task in this meeting as it will have to expand on the delta variant’s impact over bond yields as opposed to the outlook on rising prices, not [..]

Daily Market Comment – Turmoil in China but broader market mood steady

Posted on July 27, 2021 at 9:10 am GMT

Freefall in Chinese stocks enters third day but rest of Asia takes cues from Wall Street US shares get another earnings lift, hit new records, big day ahead for tech giants But it’s all quiet outside of equities as Fed decision awaited Pound outperforms, flirts with $1.38, as dollar drifts ahead of Fed outcome China shares crash again amid crackdowns Stocks in China and Hong Kong plummeted for a third day on Tuesday as technology, real estate and for-profit education [..]


Australian CPI may come in above RBA’s target; aussie flattens – Forex News Preview

Posted on July 26, 2021 at 2:14 pm GMT

Australian CPI figures for the second quarter will be front and center on Wednesday at 01:30 GMT. The Q2 CPI statistics will be interesting to watch since they will reveal what inflationary pressures were simmering in the months leading up to the recent lockdowns. Markets are prone to exaggerate the economic damage done to Australia during the coronavirus pandemic. Inflation expected to rise above RBA’s target The inflation report is predicted to print 0.5% q/q for the trimmed mean, pushing the annual rate up to [..]


US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]


Technical Analysis – AUDUSD deflects off 50-MA; downside risks stay active  

Posted on July 26, 2021 at 10:12 am GMT

AUDUSD has become curbed again by the 50-period simple moving average (SMA), reviving the pair’s bearish trajectory. The price descent has endured for nearly seven-weeks now and upside sentiment appears to be lacking, something also being indicated by the dictating bearish tone in the SMAs. The Ichimoku lines are leaning slightly to the downside with the horizontal bearing of the blue Kijun-sen line; while the short-term oscillators have yet to provide convincing signals that the bulls have taken the lead. [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]

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