Market Analysis

The FTSE Finish Line – July 11 – 2023 Employment Data Boosts Sterling, Further BoE Action Weighs On FTSE The FTSE is hugging the flatline into the close of Tuesday’s trading, the UK’s blue chip index continues to test pivotal support in the 7250 region. The export heavy index was weighed by a stronger Sterling […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Long-Legged Doji near the support level. At this stage, the instrument is going by the reversal signal in a corrective wave. The growth target could be 1937.50. Upon testing the resistance, the price could have a chance for a rebound and the development of a downtrend. […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2845 is expected, followed by a rise to 1.3035. An additional signal confirming the rise will be a rebound from the lower […]

Wages Rise Again GBP is trading higher today on the back of the latest set of UK labour market indicators, which have helped keep hawkish BOE expectations entrenched. While the unemployment rate was seen unexpectedly rising to 4% from 3.8% prior, the average earnings index was seen jumping to 6.9% from 6.7% prior, above the […]

Daily Market Outlook, July 11, 2023 Munnelly’s Market Commentary…  Asian equity markets experienced positive performance, driven by modest gains on Wall Street. Cyclicals benefited from promising inflation indicators ahead of the upcoming US CPI data, while market participants also considered China’s support measures. The Nikkei 225 remained flat and struggled to maintain its early momentum […]

AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes on H4 have broken the 200-day Moving Average and are now above it, indicating the possible development of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 6/8 (0.6713) is expected, followed by a breakout and a price rise to the […]

The Japanese yen has cancelled devaluation against the US dollar and is strengthening. The current USDJPY quote is 140.69. In a way, the yen is in demand as a safe-haven asset, while the investment world is doubting the stability of the US dollar. However, the fact that the USDJPY pair used to be overbought probably […]

Lower Start for Tesla Shares in Tesla are trading a little lower ahead of the open on Monday. Following a breakout to fresh highs for the year last week, prices have since cooled wit the stock now trading back below the prior 2023 highs of 276.74. The company recently launched a new buyer incentive program […]

Daily Market Outlook, July 10, 2023 Munnelly’s Market Commentary…  Asian equity markets showed a positive start to the week, although gains were limited due to investors digesting softer-than-expected inflation data from China. The Nikkei 225 initially extended last week’s slump but managed to rebound in late trade, ending with a marginal decrease. On the other […]

The most traded currency pair remains in positive territory on Monday. The current quote in EURUSD is 1.0960. Friday’s block of US employment market statistics left the US dollar without support. Investors were confused: it was expected that strong figures in the labour sector would give the Federal Reserve another strong argument in favour of […]

The FTSE Finish Line – July 10 – 2023 Starting The Week In The Green As Morgan Stanley Eyes UK Equities The FYSE is starting the week in the green up 0.5% according to Morgan Stanley, UK equities are currently considered unusually cheap compared to historical trends. The U.S. bank is optimistic about a potential […]

Bailey Notes BOE Flexibility GBP is starting the week under a  bit of pressure following comments from BOE governor Bailey yesterday. Speaking at a conference in France, Bailey noted that the BOE would not be shifting its 2% inflation target though did explain that the bank has some flexibility regarding timing and how quickly it […]