Day: May 16, 2023

Daily Market Outlook, May 16, 2023 Asian equities have had a mixed trading session overnight, with the positive momentum from Wall Street failing to be sustained. US regional banks experienced a short squeeze, driving stocks higher. However, the upside was limited due to concerns over the debt ceiling and a disappointing NY Fed Manufacturing survey. […]

Next Round of Talks on Watch  US debt ceiling negotiations continue today and focus is on the US Dollar given the two-way risks around the issue. Given the lack of progress so far, there are limited expectations that any resolution will be agreed today. As such, USD might trade higher into the middle of the […]

TitleXAUUSD | H4 | Reverse from 78.6% Fibo TypeBearish Reversal Price is moving up to our pivot at 2025 which lines up with a 61.8% Fibonacci retracement. A reverse from here, price could fall to 1st support 2005.845 which is an overlap support.  Alternative scenario:However, if price breaks above the pivot point, price could rally […]

EUR Under Pressure EURUSD fell sharply on Friday in response to the latest UoM consumer data. Consumer inflation expectations were seen soaring to 12-year highs of 3.2% last month. The rise comes despite CPI heading lower and reflects the view that consumers now believe inflation will remain entrenched around higher levels. Against this backdrop, traders […]