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UK CPI Rises UK stocks have come under heavy selling pressure over early European trading on Wednesday. While the market has been in corrective mode since the late December highs, selling was amplified on Wednesday as traders reacted to the latest UK inflation data. Annualised headline CPI was seen rising back up to 4% last […]
Waller Says Fed Relaxed on Rate Cut Timing The US Dollar continues to make ground across early 2024 trading as Fed members pushback against those calling for imminent rate cuts in the US. Speaking yesterday, Fed’s Waller reiterated comments made by chairman Powell in December noting that, while rate cuts were likely this year, the […]
Daily Market Outlook, January 17, 2024 Munnelly’s Market Minute…“UK Inflation Uptick Sees Sterling Higher” Asian stocks were under pressure due to the recent rise in yields and reduced expectations of Fed rate cuts. The Nikkei 225 initially rose due to a weaker currency but later dropped from three-decade highs as it succumbed to the risk-off […]
The Japanese yen declined against the US dollar on Wednesday. The current USDJPY exchange rate stands at 147.44. Today’s yen values are the lowest since 4 December of last year. The Japanese national currency is under pressure from various sides, including a robust US dollar and international factors influencing its position. The yield on US […]
The Australian dollar, in the pair with the US dollar, is accelerating its decline. The current AUDUSD exchange rate stands at 0.6564. Currently, the AUD is hovering near the lows of 13 December 2023. The Reserve Bank of Australia considers the current interest rate value of 4.35% per annum to be the peak. Earlier, there […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 1.08619 which is a pullback support level and could potentially break below this level; we could see momentum carry price down to its 1st support at 1.08148 which is a pullback support that aligns with the 78.6% Fibonacci retracement level. Alternative scenario:If […]