Day: July 31, 2023
RBA On Watch The RBA will meet overnight tonight for its August rate decision. Expectations have been heavily divided in the build up to this meeting though, as it stands, the market is currently forecasting a further .25% hike, which would take Aussie rates up to 4.35% from 4.1% currently. On the back of two […]
On Monday, the week kicked off with the report on China’s industrial sector activity. The PMI index surprised on the upside, rising to 49.3 and beating consensus estimate of 49.2 points. The slowdown in activity has been gradually easing for the second consecutive month, alleviating concerns about China’s economy and supporting the search for yield […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the resistance at 1.1130. However, the quotes could correct to 1.0960 and continue the uptrend after the pullback. USDJPY, […]
EURUSD, “Euro vs US Dollar” EURUSD has completed the first corrective target at the 1.1046 level. Today a link of decline to the 1.0992 level might develop. After the price reaches this level, another structure of growth to 1.1035 could follow. An upward breakout of this level will open the potential for the structure development […]
Surprise Revenues Jump Shares in Exxon are trading higher ahead of the open today as the post-earnings rebound continues to play out. Shares tanked initially as the company reported a lower EPS than Wall Street was looking for. However, with revenues seen coming in above forecasts, sentiment swiftly changed and the stock was seen well […]
CPI on Watch Today is likely to be a pivotal session for EURUSD with the release of the July flash CPI estimate for the eurozone due shortly. On the back of the latest ECB meeting last week, ECB rate-hike bets have cooled somewhat. While the bank pressed ahead with further tightening as expected, the guidance […]
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EURUSD, “Euro vs US Dollar” EURUSD quotes are near the 200-day Moving Average on H4, which indicates the absence of any trend. The RSI has broken the resistance line. In these circumstances, the price is expected to break the 5/8 (1.1074) level and continue to grow to the resistance at 6/8 (1.1108). The scenario can […]