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Articles
EURUSD tests near term support
After reaching the high of 1.1250, last tested in 2022, the EURUSD has been trading steadily lower and currently sits along the 1.0850 support level, formed by the 61.8% Fibonacci retracement level and the previous swing low from early July. Looking at the technical aspects, the Ichimoku cloud indicates continued bearish pressures, with the top ...
August 23, 2023Read More >FX analysis – Euro lower ahead of PMIs – AUD, JPY and Gold stumble higher
USD was mostly firmer in Tuesday’s session as a mixed equity markets saw some slight risk-off conditions. Also support USD was rates markets shifting hawkishly (September meeting now pricing a 16% chance of a hike) ahead of Jackson Hole and Fed Chair Powell speaking on Friday. Fed member Barkin spoke but added little new, as he noted consumer spe...
August 23, 2023Read More >Asian Open FX Analysis – EUR, JPY, AUD, USD
Despite runaway US treasury yields which saw 10-year yields hit their highest level since 2007, the USD was flat in Monday’s session as it seems improved risk sentiment and a technically overbought Dollar Index (DXY)held it in check. DXY traded within a tight range with a low of 103.13 and a high of 103.50, where it was again rejected at the majo...
August 22, 2023Read More >The Art of the Fundamental Exit: Knowing When to Walk Away
Entries for longer-term stock investment approaches can be based on either long-term technical trends or more commonly, fundamental data related to a company's current and projected performance. Despite the plethora of such suggestions, there is often a lack of clear guidance, or even a complete absence, of instructions on determining the timing of...
August 21, 2023Read More >Money in Motion: The Factors Influencing Currency Appreciation and Depreciation
Currency appreciation refers to the increase in value of one currency relative to another currency or basket of currencies. Depreciation refers to the opposite scenario where a currency loses value against another. When a currency appreciates, it takes more units of other currencies to purchase one unit of the appreciating currency, and of cours...
August 21, 2023Read More >Navigating the Curve: Backwardation and Contango in Futures Markets
Backwardation and contango are terms used in the context of futures markets to describe the relationship between the prices of futures contracts with different expiration dates for a specific underlying asset, such as commodities, currencies, or financial instruments. In this article, we aim to explain these terms within the context of futures cont...
August 21, 2023Read More >Averaging down: A Risky Move or a Smart Strategy?
Averaging down is an investment strategy in which an investor purchases additional shares or other assets at a lower price than their initial purchase price. This strategy is employed when the price of the asset has declined after the investor's initial purchase. Through buying more of the asset at a lower cost, the average cost per unit or share d...
August 21, 2023Read More >Upcoming Nvidia earnings: Has the AI hype cooled?
Nvidia has been the star of the US markets since the AI hype kicked off late 2022. The trillion-dollar chip manufacturer’s shares have almost tripled in 2023 alone, with the price increasing every month so far this year. In May, Nvidia surprised the markets by posting earnings and revenue figures well above analysts’ expectations. This se...
August 21, 2023Read More >FX Analysis – CNH strengthens on intervention talk – JPY breaks losing streak – Gold breaks key support
FX WRAP USD was choppy with the US Dollar Index ending the session flat in range bound trade. Unemployment claims dropped to 239k from 250k the prior week which was in line with consensus and having little effect on the USD, though Philly Fed Manufacturing figures did have a big beat coming in at +12.0 vs an expected -9.8, which was the highest ...
August 18, 2023Read More >Asian Open – Hawkish FOMC sees US stocks slide again, USD rally. JPY clobbered, AUD dips ahead of Jobs Data.
Asian indices are looking to open soft in Thursday’s session after major US Indices extended their sell-off in Wednesdays session on stronger than expected US data and a “hawkish” FOMC minutes where Fed officials saw ‘upside risks’ to inflation possibly leading to more rate hikes. The Russell 2000 led losses (-1.28%) in the US on the cont...
August 17, 2023Read More >Market responses to actual versus consensus numbers in data releases
As traders and investors one of the important facts you need to get to grips with is the difference between Consensus (sometimes termed “expected”) and actual data. Variations in these can have a profound impact on asset prices and so are often part of your decision-making. In financial markets, the "consensus" refers to the average or m...
August 16, 2023Read More >Key market data explained: The Non-farm Payrolls
The Non-Farm Payrolls (NFP) is one of the most significant economic events data release of the month and is released on the first Friday by the U.S. Department of Labor. It is a comprehensive snapshot of the current state of US employment, and encompasses the total number of paid employees in the U.S. economy, excluding agricultural, government, pr...
August 16, 2023Read More >Understanding market data: Purchasing Managers Index (PMI)
The Purchasing Managers' Index (PMI) is an economic indicator used to measure the health and activity level of a specific sector of an economy, namely the manufacturing or services sectors. PMI data is published on a monthly basis and is of three types: Manufacturing PMI: This is the most well-known type of PMI. It measures the health of ...
August 16, 2023Read More >Understanding the US Dollar Index
The U.S. Dollar Index (USDX, DXY, DX, or, informally termed “the Dixie") is a measure of the value of the United States dollar relative to a basket of foreign currencies. It is often used as an indicator of the overall strength or weakness of the U.S. dollar in the foreign exchange market. Changes in the index value reflect shifts in the rel...
August 16, 2023Read More >Aussie dollar has room to fall if the current support level fails.
The AUD/USD pair has had a tough month, falling relatively consistently since mid-July. This decline can be attributed to several factors, most notably the strengthening of the USD driven by the Federal Reserve's firm commitment to ‘higher for longer’ rates, aimed at taming inflation to meet target levels. Another contributing factor to the ...
August 14, 2023Read More >
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