What you need to know on Thursday, September 30: The American dollar kept strengthening on the back of growth-related concerns and speculation the US Federal Reserve will soon start trimming its massive stimulus programs. US Federal Reserve chief Jerome Powell repeated his statement before Congress. As he did yesterday, Powell noted that the Central Bank
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Gold prints corrective pullback from monthly low, fortnight-old support line in focus. US Treasury yields seesaw around 15-week high, DXY dwindles but S&P 500 Futures keep intraday gains. Fed tapering, China and Evergrande news weigh on sentiment, US debt limit talks eyed too. Gold Price Forecast: Bears aiming to retest the year low Update: Gold managed
Atlanta Federal Reserve’s Raphael Bostic has stated that the US is in the midst of a lot of “jumble” in the labour market, but the economy is on a firm footing for a full recovery. Key comments Fed trying to keep track of labour choices, child care, automation, other issues to understand how the economy has
According to FX Strategists at UOB Group, USD/CNH is still seen trading between 6.4359 and 6.4880 for the time being. Key Quotes 24-hour view: “USD traded between 6.4540 and 6.4691 yesterday, narrower than our expected consolidation range of 6.4520/6.4700. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for
AUD/USD clings to the 0.7280-90 range despite broad-US dollar strength. China’s Evergrande worries ease, lifting the market sentiment. Fed’s Williams and Brainard supporting bond-tapering. During the European session, the AUD/USD dipped to 0.7248, but the pair advanced as American traders got to their desks. The AUD/USD is up 0.40% during the day, trading at 0.7290
EUR/SEK has moved lower but continues to trade in the recent 10.15-10.25 range. With the peak in the global industrial cycle as well as fading support from equities, economists at Danske Bank see headwinds for the export-exposed and pro-cyclical Swedish currency. They expect a weakening of SEK in the medium-term and forecast EUR/SEK at 10.50
Tesla (TSLA), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Facebook (FB) & Square (SQ) Technical Analysis Elliott Wave Forecast & Day Trading. US Stocks Technical Analysis Elliott Wave Forecast overview: Most stocks are starting Intermediate Wave (4) and we have starting shorting stocks. Elliott Wave Analysis Wave Count:Amazon AMZN Elliott Wave (4).Alphabet GOOGL Elliott Wave (4).Apple
Heading into a German Federal election on Sunday, the latest polls suggest that the race to the country’s leadership tightens, as the key candidates hold their final rallies. Sunday’s vote will mark the end of Chancellor Angela Merkel’s 16 years in office. Exit polls will be released when voting ends at 1600GMT on Sunday and
AUD/USD struggles at 0.7300 as the market mood is risk-averse. Evergrande’s failure to pay its bond interest weighs in the AUD. Australian Retail Sales and Building Permits for August could provide fresh impetus to AUD/USD. Earlier in the Asian session, the aussie was trading at daily highs around 0.7310’s, on the back of the positive
The Dow Jones and the S&P 500 finished the day with gains of 0.1% each, while the Nasdaq was unchanged. Evergrande’s uncertainty will carry on throughout the weekend. Stocks rose, despite the new Federal Reserve hawkishness. Nike fell 6.5%, claiming supply chains crunch and high freight shipping prices. Two of the three major US stock
GBP/USD Weekly Forecast: Rate laurels go the the US Federal Reserve BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after FOMC meeting. GBP/USD drops below 1.3700 in Friday trading. FXStreet Forecast Poll predicts stronger sterling. The Bank
The consensus is that growth in 2022 will be vigorous. However, we should not be overly positive about 2022 growth in the United States and the eurozone, in the opinion of economists at Natixis. Positive factors for growth in 2022 “The possibility that the significant savings that have been built up may be partially spent,
EUR/USD reversed its direction after dropping below 1.1700. FOMC-inspired US Dollar Index rally lost momentum on Thursday. Wall Street’s main indexes are posting impressive gains. Following Wednesday’s sharp decline, the EUR/USD pair spent the first half of the day moving sideways below 1.1700. With the greenback coming under renewed selling pressure during the American session,
USD/JPY has bounced from the 109.12/07 lows. However, the pair’s upside remains capped below 110.25. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects USD/JPY to drop as low as 107.36. See – USD/JPY: Three reasons why the yen could start to recover – MUFG First support seen at the Mid-July low of 109.07
Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Fed has met the test for inflation goal to taper.” “Many on
USD/JPY faces further losses if 109.10 is cleared in the near term, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “USD closed on a soft note at 109.21 (-0.16%) in NY but rebounded during early Asian hours. Waning downward momentum coupled with oversold conditions suggests limited downside risk for USD. For today, USD
WTI reversed its direction after rising earlier in the day. UAE sees no need for OPEC to revise output strategy. Investors await API’s Weekly Crude Oil Stock data. After losing nearly 2% on Monday, crude oil prices staged a rebound in the first half of the day on Tuesday with the barrel of West Texas
GBP/USD is poised to reach the 1.3622 55-week moving average. Below here lies the 1.3571 July low. Further falls are set to be seen on a failure to hold above this level, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. One-month highs at 1.3893/1.3914 provide overhead resistance “GBP/USD is poised to