Latest Market News
Daily Market Outlook, February 9, 2024 Munnelly’s Market Minute…“SPX Tips Over 5k” Many Asian markets observe holidays today, with those open displaying mixed but relatively minor fluctuations. Anticipation surrounds potential further stimulus measures in China. A European Central Bank official remarked that this year could see interest rate cuts if no adverse events occur, yet […]
TitleUSDJPY H4 I Falling to a pullback support TypeBearish Reversal Preference:Price is rising toward the pivot point of 149.49, which aligns with a 61.8 % Projection + 161.8% Extension. A reverse from this level could lead the price to fall to 1st support at 148.83, a pullback support level. Alternative scenario:If price breaks above the […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0800 is expected, followed by a decline to 1.0635. An additional signal confirming the decline could be a rebound from […]
The Australian dollar, paired with the US dollar, started declining again a couple of days after the RBA’s meeting. The current AUDUSD exchange rate stands at 0.6492. So, the AUD has now dropped to its 12-week low against the US dollar. This development occurred within several days after the Reserve Bank of Australia meeting. Investors […]
Copper Under Pressure Copper prices remain under pressure today, despite the lift in Chinese stocks on the back of weak China data overnight. CPI and PPI were both seen falling again in the world’s second largest economy last month. The data adds to fears that the Chinese economy is deteriorating and has prompted speculation of […]
Fresh Earnings Beat Shares in Uber are trading a touch softer ahead of the US open today. The stock was seen rallying around 6% yesterday ahead of Q4 earnings which came out after the bell. Uber posted a beta on earnings and revenues once again, marking the fifth consecutive quarter of earnings growth. The Numbers […]