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Copper Breaking Higher Just a few weeks ago, copper prices were turning lower from a key resistance level and the market looked like it was heading for a fresh test of the YTD lows. Since then, copper prices have undergone a solid rebound and are now trading almost 7% higher, currently around fresh 2-month highs. […]
On Tuesday, the primary currency pair is reaching new local peaks. The current EURUSD exchange rate stands at 1.0960. The catalyst remains the same – investors remain confident that the US Federal Reserve’s interest rate has reached its peak. Earlier, the market received confirming evidence from weak macroeconomic statistics. With no new statistics released, investors […]
The British pound sterling, paired with the US dollar, is actively appreciating. The current GBPUSD exchange rate stands at 1.2532. On one hand, the GBP is supported by a weak US dollar and swiftly regains its position. On the other hand, domestic news is also providing certain support. UK Prime Minister Rishi Sunak has announced […]
Daily Market Outlook, November 21, 2023 Munnelly’s Market Commentary… Asia – In the Asia-Pacific region, most stock markets experienced gains driven by positive movements in US tech stocks, notably Microsoft, which reached a record high. Chinese markets found support from the property sector, while the ASX 200 benefitted from strength in the mining and materials […]
TitleAUDUSD H4 | Bearish reversal off 61.8% fibo projection? TypeBearish Reversal Preference:Price could potentially reject off our pivot point at 0.6587, which is a swing high resistance level, slightly above the 61.8% fibo projection and 127.2% fibo extension. Price could fall to the 1st support at 0.6541, which is a pullback support level . Alternative […]
Daily Market Outlook, November 20, 2023 Munnelly’s Market Commentary… Asia – Most Asia-Pacific stocks were positive, but gains were limited due to a lack of fresh catalysts over the weekend. Investors are waiting for key risk events this week, including the release of FOMC minutes on Tuesday. Nikkei 225 swung between gains and losses, reaching […]