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Daily Market Outlook, July 28, 2023 Munnelly’s Market Commentary… Asian equity markets traded mixed as investors were cautious and focused on the Bank of Japan’s (BoJ) policy decision. The central bank kept monetary policy settings unchanged but announced a more flexible approach to yield curve control (YCC), with fixed rate operations for 10-year Japanese Government […]
Unauthorised firm details Name: Elite CFDs Address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kings-town St Telephone: 02045860102, 02045874862, 02081574535 Email: [email protected], [email protected], [email protected] Website: https://elitecfds.com Some firms may give incorrect contact details including postal addresses, telephone numbers and email addresses. They may change these contact details over time. They may also […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD quotes have formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3130. Next, the price could break the support level and continue the downtrend. However, the quotes might correct to 1.3275 […]
Brent Brent quotes are in the overbought area on H4. The RSI has formed a divergence. As a result, in this situation a downward breakout of +1/8 (82.81) is expected, followed by a decline to the support level of 7/8 (79.69). The scenario can be cancelled by rising above the resistance at +2/8 (84.38), which […]
Upbeat surprises in US data released yesterday have bolstered the dollar’s position and led to rebound in Treasury yields with expectations regarding the Federal Reserve’s policy shifting towards another rate hike. The U.S. GDP growth for the second quarter (preliminary estimate) reached 2.4%, well above the forecast of 1.8%, indicating a substantial boost in the […]
Dow Stalls for Now The Dow Jones came under heavy selling pressure yesterday as the market tested key resistance at the 35503.24 level. Prior to yesterday’s sell-off, the Dow had been on a strong winning streak following the breakout above the 34523.58 level earlier in the month. Shifting Fed expectations have helped drive demand for […]