Key risk events today: UK GDP m/m; UK Manufacturing Production m/m; UK Prelim GDP q/q; Canadian Employment Change and Unemployment Rate; US Core PPI m/m and PPI m/m. EUR/USD: Speculative interest, for the most part, remains range bound, though 1.12 suffered a breach to the downside Thursday, consequently exposing June’s opening level at 1.1165 as … Continue reading Friday 9th August: Dollar index hampered by long-term weekly resistance at 97.72.
Global Markets: Asian Stock Markets : Nikkei up 0.37%, Shanghai Composite up 1.01%, Hang Seng up 0.67%, ASX up 0.75% Commodities: Gold at $1511.45 (-0.54%), Silver at $17.12 (-0.43%), Brent Oil at $57.81 (+2.81%), WTI Oil at $52.72 (+3.19%) Rates : US 10-year yield at 1.736, UK 10-year yield at 0.479, Germany 10-year yield at … Continue reading Thursday 8th August: Asian shares rally despite yuan fall on account of comforting trade data
Key risk events today: Limited. EUR/USD: Since Tuesday, the H4 candles have been busy carving out the initial stages of a bullish pennant formation (1.1249/1.1167), using both trend line resistance-turned support (extended from the high 1.1393) and the round number 1.12 as its floor. The price target for these patterns calculates by taking the distance … Continue reading Thursday 8th August: Technical outlook and review.
Global Markets: Asian Stock Markets : Nikkei down 0.33%, Shanghai Composite up 0.11%, Hang Seng down 0.11%, ASX up 0.64% Commodities: Gold at $1499.85 (+1.05%), Silver at $16.73 (+1.75%), Brent Oil at $58.78 (-0.27%), WTI Oil at $53.52 (-0.21%) Rates : US 10-year yield at 1.689, UK 10-year yield at 0.517, Germany 10-year yield at … Continue reading Wednesday 7th August: Asian markets mixed; cautiously moving higher as yuan remains weak
Key risk events today: German Industrial Production m/m; RBA Assist Gov. Bullock Speaks. EUR/USD: Marginally breaching a three-day bullish phase, Tuesday’s session witnessed Europe’s shared currency pare some of its gains, consolidating around the 1.12 figure into the close as traders await further catalysts. Although German industrial orders came in upbeat, questions over the future … Continue reading Wednesday 7th August: Dollar index attempts recovery though remains capped by notable resistance.