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…
S&P 500 (ES) Weekly Chart Analysis: The S&P 500 E-mini Futures have demonstrated a robust uptrend, reflected in the rising channel on the weekly chart. The market recently pushed through the resistance marked by the previous all-time high, establishing a significant bullish sentiment. Current resistance sits at the upper boundary of the channel near the Read More…
Gold rose on Tuesday, reaching a two-week high as the dollar and Treasury yields declined. Investors were focused on the looming Fed decision on Wednesday, where they expect the central bank to keep rates unchanged. The big question for gold traders is when the Fed will start cutting rates. When interest rates in the US Read More…
