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USD Weakens on Powell Comments EURUSD is pushing higher today against a backdrop of USD weakness following Powell’s semi-annual testimony at Congress yesterday. Speaking at the Senate Banking Committee, Powell offered little in the way of new information, a disappointment for USD bulls who had been hoping for some fresh hawkish commentary from the Fed […]
Daily Market Outlook, June 22, 2023 Munnelly’s Market Commentary… Asian equity markets traded mostly lower as market participants reacted to the tech-driven declines on Wall Street. Investors were also digesting a series of statements from the Federal Reserve and the release of hot UK CPI data, which added to the cautious sentiment. Additionally, risk appetite […]
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Powell Up Next Traders today are bracing for a fresh set of commentary from Fed chairman Powell. The central bank leader makes his semi-annual testimony at the Senate Baking Committee today and markets are eagerly awaiting any potential insight into how the Fed is likely to act on rates next month. Along wit the pause […]
BCOUSD H4 | Resistance above for crude oil TypeBearish Reversal Preference:Price could approach the pivot point of 77.474 and potentially reverse from here; we could see momentum carry price down to its 1st support of 75.278. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 78.787. To discuss this […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise above 7/8 (142.18), from where it could climb to the resistance at 8/8 (143.75). The […]