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…
EURUSD bears appear to be losing momentum absent any fresh catalyst for pushing their agenda. With Tuesday’s high wave spinning top risks going forward is for prices to consolidate until the next big news to rock market sentiment. Calendar wise there is little to potentially move the market though geopolitics remains something to be alert…
Yen pairs saw a sudden drop across the board at the open of New York with USDJPY seeing lows of 153.89 from 154.76 in two minutes, EURJPY dropped to lows 163.772 from 164.554, and GBPJPY with lows of 191.856 off 192.794. Note market was highly wound up over extremely Overbought USDJPY, EURJPY, and GBPJPY and…
Among equity indices two key correlations to watch out for are those between the big three in the US DJIA (US30), S&P500 (US500), and NASDAQ (USTEC). The other not so well followed is that between DJIA, S&P500, and the UK’s FTSE all three indices representing broad segments of their respective economies. Over the past two…
Gold’s rally since February has largely been fueled by a combination of safe haven plays and talk of Central Bank demand as inflation expectations pointed to an upcoming easing. Two months later we see the yellow metal at historic highs though unable to hold Friday’s pop higher for a long wick in daily charts. Resistance…
As we enter a new trading week, markets continue to digest a variety of significant economic indicators and geopolitical tensions that are influencing asset prices across the board. Here is an in-depth analysis of the current global financial landscape and its implications for the week ahead. U.S. Dollar and Treasury Yields SurgeThe U.S. dollar has…