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Daily Market Outlook, December 5, 2023 Munnelly’s Market Commentary…  Asia – Stocks saw declines as they followed a mostly negative trend from Wall Street. Major indices on Wall Street were choppy and weighed down due to a rebound in yields ahead of important data releases. In Japan, the Nikkei 225 continued to weaken and fell […]

OPEC News Lacks Bite Crude oil prices remain mostly muted as we move through the European morning on Tuesday. Just days on from OPEC+ announcing an extension of its current production cuts, the market has failed to find any upside momentum with crude futures still hugging support at the 72.61 mark. Last week’s meeting saw […]

European currencies experienced a continued decline on Monday, with EURUSD finding support around 1.0850, and GBPUSD sliding from its recent peak of 1.27 to 1.2650. Both currency pairs have been consolidating near their local highs since the beginning of last week as the wave of selling the dollar started to taper off. This shift was […]

Title:S&P 500 H4 | Falling to support level? TypeBearish Reversal Preference:The price is falling from our pivot point of 4599.10, a pullback resistance. The fall off from this price could lead to the price falling to the 1st support level at 4527.17, an overlap support. Alternative scenario:The price could break through our pivot point of […]

The primary currency pair appears relatively weak on Monday. The current EURUSD exchange rate stands at 1.0875. The market perceived the comments from Jerome Powell, the Fed’s chair, on future interest rates as too mild. He noted that insufficient or excessive stimulus risks are now more balanced. Investors considered Powell’s tone too cautious. According to […]

RBA in Focus AUDUSD is holding just below the .6681 resistance level on Monday, as traders look ahead to the coming RBA rate decision tonight. While the bank is expected to keep rates on hold again this month, traders will be closely monitoring the statement for clues as to whether the bank is likely to […]