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 […]
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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 […]