Market Analysis

Daily Market Outlook, March 3, 2023 Markets look To Close Out The Week On A Firmer Footing Driven By Fed ‘Pause’ Hope Asian equities followed Wall Street’s positive lead and were mostly higher following on from the positive close stateside, driven by yet another round of optimism regarding the potential for a Fed pause, this […]

There have been plenty of key developments across the markets this week with plenty of moves to focus on as we begin the final month of Q1. Chatting with traders ahead of the weekend, it seems the move capturing the most attention is the almost 3% rally in the Nikkei which has broken out this […]

The BTC weakened quite a bit overnight. By Friday, the leading crypto has dropped to 22,401 USD. The crypto got given away by the inner market news. Most probably, it was the situation with the Silvergate bank, with which several crypto exchanges at once refused to work. Meanwhile, the US stock market remained stable or […]

EURUSD has stabilised after a series of amplitude fluctuations. The current quote is 1.0610. The EU failed to support the EUR by good news. The prelim CPI in February turned out at 8.5% y/y instead of declining to 8.3% y/y, while earlier it was 8.6%. Base inflation is estimated at 5.6% y/y — higher than […]

Dovish BOJ View The Japanese Yen has fallen lower into the end of the week helped by a solid drop in Tokyo CPI last month. Tokyo CPI was seen cooling to 3.3% from the prior month’s multi-decade highs of 4.3%. On the back of incoming BOJ governor Ueda recently affirming that the BOJ will not […]

AM Shares Rallying Chipmaker Applied Materials has been one of the key stocks to benefit from the surge in demand for AI this year. The company recently posted bumper Q4 earnings with both EPS and revenues coming in above target and cited the growth in demand from companies looking to scale up their AI business […]

Title BCOUSD potential rally – but watch out for the intermediate resistance! Type Bullish Rally Preference We’re seeing a long-term ascending support line and a descending resistance line squeeze prices together. There is a pivot support at 83.9 which is pushing prices up against the descending resistance line. If prices were to break that descending […]

TitleUSDJPY, H4 | Key levels to watch out for TypeNeutral Preference:We’re seeing price rise nicely within our ascending wedge with the first intermediate resistance at 136.77 which is a 38.2% Fibonacci retracement. If it breaks this level, then the 1st resistance is at 137.74 which is a strong overlap resistance. In terms of support, we […]

XAUUSD, “Gold vs US Dollar” At the support level, gold has formed a Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the correction might be 1855.00. Upon testing the resistance level, the price may push off it and continue the downtrend. However, the quotes might […]

EURUSD grew quite a bit overnight. The current quote is 1.0650. The USD got a hard blow from the production statistics from February. The ISM PMI grew from 47.4 points to 47.7 points instead of 48.0 points. The index remains under the psychologically important level of 50.0 points marking the reversal from growth to falling. […]

Bailey Talks Down Pound GBP has come back under selling pressure into the end of the week following comments from BOE governor Bailey who yesterday suggested that UK rates might have peaked. During a PR event yesterday, Bailey cautioned that further rate hikes were not inevitable and that any further adjustments will be data dependent. […]

EUR Falls on Inflation Data EUR is trading lower today on the back of the latest flash eurozone inflation data released this morning. The first look at CPI for last month showed the headline reading cooling slightly to 8.5% from 8.6% prior year-on-year. However, this was a touch above the 8.3% the market was looking […]