Latest Market News
Daily Market Outlook, February 2, 2024 Munnelly’s Market Minute…“Mega Tech Earnings Boost Equities, Focus Shifts To Jobs Data” Prior to the release of the monthly US labor report later today, most equity markets in the Asia-Pacific region are experiencing gains. This is due to strong performances in the tech sector after the US market closed,both […]
Pound Pushing Higher GBP is rallying on the back of yesterday’s BOE meeting, creating some interesting opportunities across the FX space. The reaction might appear at little counter-intuitive given the more dovish tone to the meeting. Dovish Twist The bank held rates unchanged, as expected, yet sounded more optimistic over the prospect of returning inflation […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3420 level. Subsequently, the price could rebound and maintain downward momentum. However, the quotes might fall to 1.3325 without a correction. […]
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is rebounding from the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6105 is expected, followed by a rise to 0.6265. An additional signal confirming the rise could be […]
BOE Up Next Following on from the Fed yesterday, the BOE will step into centre stage today. Given the building speculation around anticipating the first 2024 central bank rate cuts, there is plenty of attention on today’s meeting and plenty of volatility risk consequently. Despite the recent uptick in UK inflation, which rose last month […]
Nasdaq Pulls Back On the back of the Alphabet and Microsoft reporting earlier this week, the focus moves back onto big tech names today with Apple, Meta and Amazon all reporting Q4 results. The Nasdaq has turned lower in recent days following a negative market reaction to Tuesday’s results. Despite both companies topping forecasts on […]