Tag: tickmill
US Data Disappoints The US Dollar is trading higher today as stocks come under pressure on the back of weak US data yesterday and a ratings downgrade from Fitch. On the data front, the US ISM manufacturing PMI was seen printing 46.4, below the 46.9 the market was looking for. Meanwhile the ISM prices index […]
The steep increase in yields of US Treasury bonds across all maturities triggered a correction in the US dollar’s value this week. The US currency index tested the resistance level near 102.50 yesterday and continued its upward trend on Wednesday: The price remains within a downtrend corridor but is vigorously growing due to surprises in […]
The FTSE Finish Line – August 2 – 2023 FTSE US Credit Rating Adjustment Weighs Risk Appetite UK’s FTSE 100 index opened lower, before trading down by 1.35%, reaching a two-week low. The global risk sentiment was affected by ratings agency Fitch’s decision to cut the United States’ credit rating. Meanwhile, the FTSE 250 midcap […]
Daily Market Outlook, August 2, 2023 Munnelly’s Market Commentary… Asian equity markets are trading lower, following a negative lead from Wall Street. The sentiment has been dampened by higher yields and weak economic data. One of the factors affecting the market is Fitch’s credit rating downgrade for the United States from AAA to AA+. The […]
TitleAUDUSD H4 | Bearish momentum TypeBearish Reversal Preference: Price has reversed from the pivot point of 0.67351 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level; we could see momentum carry price down to its 1st support at 0.66198 which is an overlap support that aligns with the 61.8% Fibonacci […]
TitleEURUSD H4 | Bounce off Support level? TypeBullish Bounce Preference:Price is currently at our pivot of 1.09792 which is an overlap support that aligns with 61.8% Fibo retracement, A bounce off from here, price could push to 1st resistance at 1.10342 which is an overlap resistance level. Alternative scenario:However, if price breaks below the pivot, […]
Daily Market Outlook, August 1, 2023 Munnelly’s Market Commentary… Asian equity markets showed a mostly positive trend, taking cues from Wall Street’s S&P 500, which marked its 5th consecutive monthly gain. However, market participants were also digesting disappointing Chinese Caixin Manufacturing PMI data and the Reserve Bank of Australia’s (RBA) decision to keep rates unchanged. […]
Crude Breaking Higher Oil prices are this week trading at their highest levels since April. Crude futures have put in a solid rally over the last month, rising by over 17% from the July lows. Price is now testing a key resistance level which will be make or break for the bull move. With USD […]
Rising USD Weighing on Gold The US Dollar is pushing higher again this week which is weighing heavily on gold prices currently. Despite the market no longer pricing in any further Fed rate hikes this year, the drive seems to be linked to the resilience of the US economy, as shown through recent data strength. […]
The FTSE Finish Line – August 1 – 2023 FTSE Miners Lose Their Shine Weighing On Sentiment On Tuesday, the UK’s FTSE 100 initially saw gains, but later reversed its course due to losses in mining firms outweighing the positive impact of upbeat earnings reports from HSBC, Weir Group, and Diageo. BP’s shares edged higher […]