Latest Market News

Daily Market Outlook, June 16, 2023 Munnelly’s Market Commentary…  Asian equity markets traded higher, taking cues from the gains on Wall Street. The major indices in the US were boosted by a weaker dollar and lower yields, as investors processed a hawkish European Central Bank (ECB) announcement and the increase in US jobless claims. The […]

TitleEURUSD H4 | React off 1st resistance TypeBearish Reversal Preference: Price is currently at our pivot point of 1.09421 which is an overlap resistance. A reverse from here, price could fall to 1st support at 1.08878 which is an overlap support level. Alternative scenario: However, if price breaks above the pivot point, it could hit […]

BOJ Stands Firm JPY has come under heavy selling pressure today as the BOJ kept rates on hold at its latest monetary policy meeting overnight. Despite simmering speculation that the bank might be approaching a shift in monetary policy, new BOJ chief Ueda held policy steady. Ueda warned that the bank would remain patient in […]

Weaker Dollar Helping  Following heavy selling at the start of the week, oil prices are trading higher ahead of the weekend. Crude futures have climbed back into positive territory on the week, helped by a weaker USD and look poised for further upside near-term. The Dollar fell on the back of the FOMC meeting on […]

The Japanese yen has somewhat stabilised against the US dollar. The current USDJPY quote is 140.61. On Friday, the Bank of Japan held its regular meeting, following which it kept the interest rate at -0.1% per annum. Thus, the regulator continues to ignore global trends among central banks and sticks to its stimulus plan. In […]

Gold Falls Following Fed Gold prices have turned lower on the back of the Fed meeting yesterday. Despite holding rates steady at this meeting, the meeting showed a clear hawkish skew with the updated dot plot projections showing that the majority of members still forecast further hikes this year. Powell himself noted that July is […]