Tag: tickmill
GBP Under Pressure GBP is turning lower today on the back of comments yesterday from BOE governor Andrew Bailey who noted that BOE rates are likely near their peak. On the back of 14 consecutive rate hikes, the BOE is widely expected to hike rates again later this month. However, on the back of Bailey’s […]
Daily Market Outlook, September 7, 2023 Munnelly’s Market Commentary… Asian equity markets faced headwinds as they followed the negative lead from the US, where both stocks and bonds retreated in response to hawkish ISM Services data. Additionally, market participants analysed the latest Chinese trade figures. The Nikkei 225 index experienced a turbulent day, initially benefiting […]
On Wednesday, appetite for risk in US equities decreased, with major stock indices finishing the session slightly in the red. The American market successfully passed the bearish baton to Asian and European markets as investors gradually sold off stocks amidst rising oil prices. US Treasury bond yields increased as traders apparently factor in the risks […]
TitleUS30USD H4 | Bullish bounce off 78.6% fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 34271.6, which is an overlap support, and at the 78.6% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance at 34592.7, which is a pullback resistance level, and at […]
TitleGBPJPY H4 | Bullish reversal off 78.6% fibo? TypeBullish Bounce Preference:Price has made a lower high, and we can expect price to fall further to our pivot point at 184.06, which is an overlap support level, aligning with the 61.8% fibo projection and 78.6% fibo retracement. Price could potentially reverse from our pivot point, and […]
Oil Cuts Extended Crude prices broke out to yet further new highs for the year yesterday. The move was driven by news that Saudi Arabia and Russia have extended their additional production cuts through year-end. On top of the production cuts agreed among OPEC+ members, the two producers undertook additional, voluntary cuts which totalled around […]
The rapid bullish advance of the greenback in the past few days has encountered some selling pressure near the 105 level on the US Dollar Index (DXY). Today, the index is treading water amid a pullback in oil prices following yesterday’s OPEC+ decision. It’s worth noting that currencies of energy-importing nations entered a downside in […]
TitleAUDUSD H4 | Bearish reversal off 23.6% Fibo? TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.64005 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63397 which is a […]
Daily Market Outlook, September 6, 2023 Munnelly’s Market Commentary… Asian equity markets started the day with a bearish tone, influenced by the lacklustre performance on Wall Street. Investors there were grappling with concerns over rising yields, a strengthening dollar, and surging oil prices. However, the Nikkei 225 defied the broader trend, managing to breach the […]
US Economic Strength Stalling The silver market has come under heavy selling pressure over the last week. Following the recovery across the back half of August, a rebound in USD has weighed heavily on silver prices. Concerns over the US economy have reared their head in recent weeks against a backdrop of several key data […]