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EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0800 is expected, followed by a decline to 1.0635. An additional signal confirming the decline could be a rebound from […]

The Australian dollar, paired with the US dollar, started declining again a couple of days after the RBA’s meeting. The current AUDUSD exchange rate stands at 0.6492. So, the AUD has now dropped to its 12-week low against the US dollar. This development occurred within several days after the Reserve Bank of Australia meeting. Investors […]

Copper Under Pressure Copper prices remain under pressure today, despite the lift in Chinese stocks on the back of weak China data overnight. CPI and PPI were both seen falling again in the world’s second largest economy last month. The data adds to fears that the Chinese economy is deteriorating and has prompted speculation of […]

Fresh Earnings Beat Shares in Uber are trading a touch softer ahead of the US open today. The stock was seen rallying around 6% yesterday ahead of Q4 earnings which came out after the bell. Uber posted a beta on earnings and revenues once again, marking the fifth consecutive quarter of earnings growth. The Numbers […]

Daily Market Outlook, February 8, 2024 Munnelly’s Market Minute…“SPX Eyeing 5k” Asian stocks exhibited a mixed performance following Wall Street’s attainment of new record levels, with the S&P 500 nearing 5,000. The Nikkei 225 approached 37K handle driven by positive earnings reports, and SoftBank gained momentum after Arm Holdings’ post-earnings surge. Meanwhile, the Hang Seng […]

CPI & PPI Fall Again Further signs that the Chinese economy is in trouble were seen overnight with the latest CPI reading marking the fastest decline in 15 years. CPI printed -0.8% last month, down from -0.3% prior and below the -0.5% the market was looking for. The data marks the biggest drop since 2009 […]