US interest futures stay on the edge as the Fed maintains a wait-and-watch policy despite a series of dismal US economic data. The recent US CPI figures showed a cooling inflation for May, missing expectations. Yet, Fed officials need more convincing evidence of a slowdown to initiate a rate cut. Though the inflation data has Read More…
Price Action & Momentum Technically, DXY is in a confirmed bear trend. A sustained close below 97.93 would expose the 96.75 level next (S2). Reclaiming 100 would be necessary for bulls to regain control. Macroeconomic Pressures on the U.S. Dollar Rate Cut Expectations Soften Yield Appeal Twin Deficits – Fiscal and Current Account Political Uncertainty Read More…
The crude oil prices rose to a fresh 2-month top on Thursday before a slight pullback. The prices soared more than 6% on the day, which is the second-largest gain in a single day in the last few months. The prices have been under strong selling pressure for the last six months or more due Read More…
Gold prices gained on Wednesday after the US released cooler-than-expected inflation figures. The data increased pressure on the Fed to lower borrowing costs later this year. Meanwhile, talks between China and the US ended with no clear details on how the two countries will conduct trade after the 90-day pause. Data released on Wednesday revealed Read More…
Technical Overview Resistance Zone & ATH Key Pivot Levels Pivot Zone Price ATH / R1 22,425.75 R2 23,151.50 R3 24,444.00 Pivot (neutral) 20,971.50 S1 (support) 20,084.00 It looks like its just a matter of time before the price breaks above the high but nothing is certain in markets so we have to wait and see. Read More…
Equities edged higher on Monday due to optimism over ongoing talks between China and the US. Meanwhile, the focus was shifting from Friday’s upbeat US employment data. Market participants are now gearing up for consumer inflation data. Equities weekly change (Source: Bloomberg) On Friday, equities rallied after the US released a positive employment report, ending Read More…
