News
The US Dollar is currently experiencing a downturn, unwinding gains fueled by the latest US Core CPI figures, which exceeded expectations. This unforeseen development has raised uncertainties regarding the Fed’s anticipated interest-rate adjustments. However, expectations about interest rate cuts from other central banks adjust too, limiting the positive impact of the CPI data on the […]
Daily Market Outlook, March 13, 2024 Munnelly’s Macro Minute… “Whipsaw Reaction To US Inflation Resolves With Risk On Response” Most Asian stock markets are experiencing gains on Wednesday, taking direction from the overall positive performance of global markets. This was influenced by the favorable response to the long-awaited report on US consumer price inflation for […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 2135.00. After testing the support, the price might rebound and maintain its upward trajectory. However, the quotes could rise to 2190.00 without a correction. […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rising after a rebound from the support. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2765 is expected, followed by a rise to 1.2935. An additional signal confirming the rise might be […]
Copper Breaking Out Copper prices have broken out to their highest levels since August 2023 today. The move comes on the back of news that top Chinese copper smelters will slash production across loss-making sites in a bid to shore up the market against the tightness in raw materials. A surge in global smelting capacity […]
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.66443 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.65834 which is an overlap support that sits above with […]