Tag: tickmill

Oil Slumps As something of a topsy-turvy week comes to a close in financial markets, traders are of course looking ahead to next week. The December FOMC meeting is drawing evermore attention and with the BOE and ECB also on deck, it promises to be a big week for markets. Ahead of those events, however, […]

Risk assets rallied after US jobless claims data pointed to decreasing strength of the US labor market. Labor market imbalances are now the key driver of inflation (through the impact of wages on consumer demand), which implies higher-than-usual sensitivity of investors to the data releases like Unemployment Claims, NFP and JOLTS reports. Continuing jobless claims […]

BOC Hikes and Keeps Options Open The Bank of Canada meeting yesterday was a more neutral affair than most were anticipating. The BOC hiked rates by a further .5%. in line with expectations. However, the accompanying language and outlook was not convincingly geared towards a pause. Interestingly, the market reaction to the meeting has seen […]

USD Under Pressure USDCNH has seen a sharp sell-off over the last week or so. Part of this can be attributed to the softening we’ve seen in USD while the other driver is clearly the developments we’ve seen in China. On the USD front, the greenback has been well sold recently though the perspectives behind […]

Type: Bullish Continuation Key Levels:Resistance:1.06680Pivot:1.05085Support:1.03315 Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly break the pivot at 1.05085, where the previous high is […]

Gold has pulled from the resistance at the level of 1820, forming an engulfing. Now, the asset’s price has pulled to the middle point of the engulfing. This might signify the upcoming drop. Gold is likely to drop to the level of 1735 next. The Euro is slowly heading down, targeting the level of 1.0350 […]

Type: Bullish Continuation Key Levels:Resistance:2542Pivot:2422Support:2475 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head towards the resistance at 2542, where the 78.6% Fibonacci line and previous high […]

Daily Market Outlook, December 8, 2022  Wall Street Whipsawed On Deflationary Data & Putin Nuclear Rhetoric Wall Street witnessed a whipsaw session, driven by downward revisions to Q3 unit labour costs, this prompted a sell-off in US Yields and a rally in US stocks, this move was sharply reversed as investors hit the sell button […]

Type: Bearish Drop Key Levels:Resistance: 4173.25Pivot: 3913.25Support: 3751.75 Preferred Case:Looking at the H4 chart, my overall bias for SPX is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the pivot at 3913.25, where the 50% Fibonacci […]

 BOC In Focus The Bank of Canada will be in focus today as it meets for its December monetary policy decision. There is a great deal of attention on today’s meeting given the market expectation that the BOC could well signal a pause in its tightening program. While a further .5% of tightening is expected […]