Equities rose on Monday, adding to last week’s gains as markets priced in a Fed rate cut at the September meeting. At the same time, risk appetite improved since data last week eased fears of a looming US recession. S&P 500 weekly performance (Source: Bloomberg) Equities closed the best week of the year on Friday, Read More…
Currency futures rose on Friday and Monday as the dollar retreated amid profit-taking. At the same time, the US currency fell at the end of the week as markets raised the chances of a 25 bps September Fed cut. On Thursday, the greenback had soared after sales data showed a robust economy. Last week, the Read More…
Monthly Chart The monthly chart gives us a good idea of where CL has been sitting since the start of 2023. The longer the price sits in the tight range the stronger the break out will be but at the moment CL is being pushed around a lot by fundamentals. The volume profile point of Read More…
Interest futures plunged on Thursday as upbeat US economic data boosted risk appetite. At the same time, investors moved to price a lower likelihood of a 50-bps Fed rate cut at the September meeting. However, the move reversed on Friday as the probability of a 25-bps Fed cut rose. As US inflation data solidified bets Read More…
Oil prices fell nearly 1% on Wednesday due to increased demand worries after a bigger-than-expected increase in US crude inventories. However, the move reversed on Thursday as oil traders cheered a rise in Fed rate cut expectations. Data on Wednesday revealed that US crude inventories rose by 1.4 million barrels. It was the first increase Read More…
Introduction The Dow Jones has been in a tight ascending triangle on the weekly chart as all US indices continue to surge despite massive geopolitical tensions. At the moment, YM is bouncing off a low and could possibly look to be moving higher for the next few weeks. Lets take a look at the chart Read More…
