Interest futures collapsed on Thursday while Treasury yields rose as data from the US and policymakers continued to point at delayed Fed rate cuts. Labor market data from the US showed strength in the sector despite high interest rates. This gives the Fed room to keep interest rates high and lower inflation. At the same Read More…
Weekly Chart Observations: ES has been getting out of hand lately and just continues to rally no matter what. The Alligator indicator has the Lips (4821.50), Teeth (4733.71), and Jaw (4631.17) fanning out, which confirms the trend strength. Taking shorts now is highly risky and the only thing that could stop this market from going Read More…
Oil prices rose on Wednesday due to rising tensions in the Middle East that could lead to tighter supply. At the same time, a surprise drop in gasoline stocks indicated an increase in demand. Aggregate open interest in crude (Source: ICE, CME) Investors are buying more oil futures, expecting tighter supply and higher prices. Israel Read More…
Gold prices rose on Tuesday, pausing a decline that started on Friday after the US jobs report. The recovery came as the dollar and Treasury yields pulled back from recent highs. However, this decline might be short-lived if fundamentals continue pointing to delayed rate cuts in the US. Fed rate cut expectations (Source: Bloomberg) Notably, Read More…
US equities closed Monday in the red as Powell maintained his hawkish stance, dampening rate cut expectations. In a speech on Sunday, the Fed chair said that inflation in the US needs to show a consistent downtrend for rate cuts to start. According to the central bank, inflation remains high. Therefore, the economy still needs Read More…
Weekly Chart: The price action is hovering above an established multi-year support zone that is the main point for the bull’s case. The Alligator indicator shows the Jaw, Teeth, and Lips converging, signaling a potential consolidation phase. However, with the price maintaining levels above the Alligator’s Lips, we maintain a bullish outlook. The RSI is Read More…
Friday was a down day for currency futures as the dollar rallied to a seven-week high after upbeat employment data. Investors were surprised after the US non-farm payroll figures were much higher than expected. As a result, there is an even lower chance that the Fed will start cutting rates in March. US jobs (Source: Read More…
Weekly Chart Analysis:The weekly chart shows a consolidation below the previous all-time high (ATH) with most dips generally being bought back up. The resistance level to watch is the previous ATH at $2089.0. A decisive weekly close above this level could signal a bullish continuation, potentially targeting the bull target zone around $2400.0. However, should Read More…
Interest futures rose on Thursday as Treasury yields declined due to concerns about the US banking sector. The US Treasury Bond (ZB) futures and the 10-year T-Note (ZN) futures ended Thursday on a bullish note. Meanwhile, investors continued to absorb Powell’s remarks on Wednesday, which confirmed that rate cuts would come later than March. Concerns Read More…
Oil fell on Wednesday due to poor economic activity data from China and a higher-than-expected increase in US crude oil inventories. According to data released on Wednesday, manufacturing activity in China dropped for the fourth month in January. China is a leading oil importer. Therefore, a decline in economic activity in the country means a Read More…
