Tag: tickmill

Pound Breaks Down GBPUSD is holding for now at the foot of yesterday’s losses following dovish commentary from BOE chief economist Huw Pill. The BOE policymaker told reporters that the bank is on course to cut rates this year, provided inflation continues to fall. However, there was a slight dovish twist in the commentary as […]

RBA Says Hikes Still Possible The Australian Dollar is trading with a spring in its step across the European morning on Tuesday. Overnight, the RBA held rates unchanged, as expected. However, the tone of the meeting was a little more hawkish than most were expecting, catching the market somewhat off-guard. Traders have sharply scaled back […]

Daily Market Outlook, February 6, 2024 Munnelly’s Market Minute…“China Sovereign Fund Stepping In, Leads Asian Markets Higher” Asian stocks showed a mixed performance, as Chinese market stabilization efforts countered early challenges from Wall Street, where yields reached year-to-date highs following strong ISM Services data and recent hawkish Fed comments. The Reserve Bank of Australia(RBA), kept […]

Daily Market Outlook, February 5, 2024 Munnelly’s Market Minute…“Powell Hitting Pause On Rate Cut Expectations” Asian stocks were mostly subdued due to the red-hot jobs report and Fed Chair Powell’s comments indicating a likely delay in a March rate cut. In a pre-recorded TV interview aired last night, US Fed Chair Powell reiterated that more […]

Crude Continues Lower Oil prices remain under pressure as we start the new week. Crude futures are in the red on Monday, extending losses from last week as the market continues to depreciate. The sell off comes despite rising tensions in the Middle East with the US and UK carrying out further airstrikes over the […]

The EURUSD pair is currently hovering near recent lows, extending the downside on Monday as markets still digest the stellar NFP report released last Friday and the unexpected verbal intervention from Powell, which he decided to make in the interview on Sunday. Momentum indicators suggest that the pair could have another leg lower; however, the […]

Last week, Gold formed a gap and broke the local downtrend (points 1, 2, and 3). Hence, the price of this asset might potentially get back to the broken downtrend and then rebound forward. In this case, the asset’s price might test the resistance level of 2085. So, let’s observe what might happen next. The […]

Gold Falls on Monday Gold prices are seeing decent selling interest across early European trading on Monday. The move comes amidst an uptick in USD on the back of a bumper set of US jobs figures last week and hawkish commentary from Fed’s Powell over the weekend.   US Jobs Soar Again On Friday, the NFP […]

Euro Lower on Monday EURUSD is testing below the 1.0785 level today for the first time since early December as a strong US Dollar sets the tone for FX markets. The Dollar is rising on the back of a set of bumper US jobs figures on Friday which saw the largest jobs growth in a […]

Crude Correction Deepens Following a move above the December highs last week, oil prices have turned sharply lower this week with crude futures now down around 7% from YTD highs. The sell-off comes as OPEC+ this week held its production quotas unchanged. There had been speculation of a potential further decrease in production levels suggesting […]