We are seeing a follow through to the break of the symmetric triangle in Gold from the past weeks consolidation as tensions in the middle east continue to ease. Speaking on the Israeli retaliatory attacks Friday, Iran’s Foreign Minister has indicated that there are no plans to respond with market taking this as catalyst enough…
Oil prices saw a brief surge Friday on Israel’s retaliatory attack into Iranian territory only fall back to where it opened given the mostly symbolic nature of the attacks underscoring vulnerability of the oil market absent geopolitical tension. We have already heard back from Iran with its Foreign Minister Hossein Amirabdollahian telling NBC News that…
The UK’s flat Retail Sales figures Friday saw bears regaining the upper hand as GBPUSD dropped under the weeks lows and saw a further follow through decline at the open Monday. Ahead we have data for both side as Flash Manufacturing and Services PMI is set for release. Consensus forecast for the UK has us…
We spent the past week in consolidation for EURUSD with a lack of catalyst preventing a further sell-off or a recovery back above the breakout point. Ahead we will be seeing flash manufacturing and services PMI figure for both the US and Eurozone. While not big shakers in and of themselves a divergence in the…
As we move into a new week, financial markets remain attuned to a dynamic mix of monetary policy signals, geopolitical tensions, and economic indicators. Here’s what investors should keep an eye on: U.S. Dollar and Monetary Policy The U.S. dollar gained traction last week, with the dollar index rising above 106.1. U.S. Treasury yields also…
Gold spent the previous week consolidating under the historic highs with Friday’s attempt at a rally failing to get near 2411.45 for a long wick at the close. At this point it appears much of the global tensions have already been priced in by the market and unlikely to fuel further safe haven plays short…
The Japanese Yen continues to flirt with its rumored intervention level against the US dollar with a full week until we see key inflation data and the BoJ’s Monetary Policy Meeting. Recall that the BoJ raised its policy rate last March to come off decades of Zero Interest Rate Policy in an effort to normalize…
Financial markets start the Asian Trading Day in turmoil following reports of an attack by Israel on Iran with a quick pop higher by Gold, Oil, and the Swiss Franc. Immediate reports indicate a limited strike using drones into central Iran. Nuclear facilities remain unaffected. Look for Iranian response to the attack otherwise we could…
Despite a repeat of Tuesday’s diverging policy direction talk, Cable managed to see firmer ground Wednesday following the release of the UK’s latest inflation report. Annualized CPI turned out at 3.2% against a 3.1% consensus forecast contrasting with BoE Governor Andrew Bailey’s forecast of a ‘sharp drop’ in the coming months. Resistance Support Daily charts…
Major dollar pairs saw a quick drop with the close of London though we see little catalyst behind the move with a mostly light calendar day. Prior to the drop we have seen the greenback in mostly choppy trading with technical impetus fueling an EURUSD attempt at consolidation, GBPUSD failure to hold early gains, and…