Share: EUR/GBP gains for four consecutive days, up 0.81% for the week, trading at 0.8635 but failing to break through the 100-day EMA at 0.8655. The Bank of England’s 25 bps rate hike influences the pair’s movement, capping further advance. Technical outlook reveals an inverted head-and-shoulders chart pattern, targeting 0.8900. EUR/GBP rallies for
Jobs market cooling a bit but still extremely strong Goods inflation has been tough to bring down Highlights improvements in US productivity as disinflationary Fed has to be patient, monetary policy has lags Question should be: How long are we going to stay at these levels, not about when the next hike will be Holding
Share: EUR/JPY bulls defended the 20-day SMA, and the cross established itself above 156.00. Factory orders from June unexpectedly rise by 7%. BoJ’s hawkish signals and rising Japanese yields may limit the pair’s gains. On Friday, the EUR/JPY traded above the 156.00 zone, boosted by a stronger Euro following industrial data from June
EURUSD on the hourly chart The EURUSD dipped lower as popost-jobsolatility takes over. The technical’s are also in play in the EURUSD pair. The run to the upside today was able to extend above its 200 hour moving average and 38.2% retracement of the move down from last week’s high at 1.1002. The break that
Share: Economists at Credit Suisse expect S&P 500 to correct lower with daily and weekly momentum divergences now in place. Break above the 4,637 high needed to alleviate thoughts of a correction With daily and weekly RSI momentum now negative and with a bearish ‘key-day reversal’ in place, we maintain our call to
EURUSD trades to a new session high The EURUSD has extended to a new session high as London/European traders look toward the end of week. The price is approaching the swing high from Monday near 1.10449. The high price from last Friday reached 1.10467. The 38.2% retracement of the move down from the July high
Share: According to Federal Reserve Bank of Chicago President Austan Goolsbee, they should start thinking about how long to hold rates. In an interview with Bloomberg, he said that the last couple of inflation readings were pretty positive. Regarding Fitch’s US credit downgrade, Goolsbee mentioned that it won’t make much difference. On the
Stoxx 600 daily Closing changes: Stoxx 600 +0.3% German DAX +0.4% FTSE 100 +0.5% French CAC +0.8% Italy MIB -0.2% Spain IBEX +0.7% Weekly: Stoxx 600 -2.5% German DAX -2.5% FTSE 100 -1.6% French CAC -2.1% Italy MIB -2.9% Spain IBEX -3.2% It was a rough week but there was something of a silver lining
Share: Atlanta Federal Reserve Bank President Raphael Bostic said on Friday to Bloomberg, that the central bank is likely to keep monetary policy in a restrictive territory well into 2024. He added that the Fed is on a trajectory to get to the 2% inflation target. Asked about the recent jobs report, Bostic
The GBPUSD is higher on the day and in the short term, the buyers are “in play”. Trading above the 100 hour MA tilts the bias in that direction but there is work to do. Looking at the daily chart, the technical picture is more in the buyer’s favor. What I like about it technically,
