The Australian dollar has stopped declining against the US dollar. The current AUDUSD quote is 0.6766. On the one hand, the Aussie’s position is still under a lot of pressure from the strong US dollar. On the other hand, the Australian economy is showing some signals of stabilisation, which could support the AUD. The preliminary […]
The major currency pair remains balanced on Tuesday. The current EURUSD quote is 1.1080. Yesterday’s released statistics revealed a mixed performance in the Eurozone. The preliminary PMI in the services sector for July decreased to 51.1 points from the previous 52.0 points. In the manufacturing sector, the indicator dropped to 42.7 points from 43.4 points […]
The FTSE Finish Line – July 25 – 2023 FTSE Miners Shine Again, Fundamental Show Glimmer Of Hope UK’s FTSE 100 has notched up a modest gain on the trading day, driven by mining stocks following Beijing’s pledge to provide more policy support to the Chinese economy. Meanwhile, consumer staples major Unilever saw a significant […]
Daily Market Outlook, July 25, 2023 Munnelly’s Market Commentary… Asian equity markets traded higher, with Chinese stocks leading the gains. The rally in Chinese stocks came after the country’s Politburo made support pledges, boosting investor sentiment. However, gains in the rest of the region were limited due to soft global PMI data and caution ahead […]
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AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In these circumstances, the quotes are expected to break the 7/8 (0.6774) level, reaching the resistance at 8/8 (0.6835). The scenario can be cancelled by a downward […]
EURUSD, “Euro vs US Dollar” EURUSD has completed another structure of decline to 1.1059. Today the market is forming a consolidation range above this level. The price is expected to exit downwards and continue this wave to the level of 1.1024. This is a local target. After the price reaches this level, a correction to […]
Market Muted Ahead of BOJ GBPJPY is currently stuck in a holding pattern between the 179.95 and 184.33 levels. GBP has cooled recently on the back of the latest inflation data which showed that CPI fell sharply last month. The data has allayed fears that the BOE will be pressed into taking more aggressive tightening […]