Currency futures fell on Friday after US data solidified bets for a smaller 25 bps September Fed rate cut, boosting the US dollar. Data throughout last week showed that the US economy remains resilient, dismissing fears of a recession. Fed rate cut bets (Source: Bloomberg) The dollar had a bullish day on Friday after the Read More…
Interest futures recovered slightly after falling on Thursday as US data showed a resilient economy, further reducing the risk of a recession. At the same time, the likelihood of a 50 basis points Fed rate cut in September fell. A stable economy means the US central bank can gradually lower borrowing costs. US GDP (Source: Read More…
The chart provided displays the U.S. Dollar Index (DXY) on a weekly timeframe. Let’s analyze the technical indicators and identify potential bearish/short high-probability trade opportunities. Technical Analysis Descending Triangle Pattern: There is a symmetrical triangle formation. The price recently broke below the lower trendline of this triangle, signaling a potential continuation of the downtrend since Read More…
Oil prices recovered slightly on Tuesday after falling 1% in the previous session due to a disappointing inventories report. However, the potential loss of Libyan oil output and Middle East tensions kept a floor on price declines. Data on Wednesday revealed a smaller-than-expected drop in US crude stocks last week. Inventories fell by 846,000 barrels, Read More…
Trend Analysis: The weekly chart for the S&P 500 (ES) futures has been surging alongside all other US equity markets since November of 2023. After a recent break below the trend line, the bulls stepped back in, and the price began its upward movement once more. We should not get euphoric though, there is a Read More…
Gold prices ended flat on Tuesday and fell on Wednesday as the dollar rose ahead of more US inflation data. The US will release its core PCE report on Friday, giving guidance on the size of upcoming Fed rate cuts. Gold prices rallied on Friday and Monday due to rate cut optimism. Notably, Powell opened Read More…
