Eye on Today’s U.S. GDP
Nvidia's highly anticipated earnings report was released yesterday, but despite the numbers beating market consensus, the performance lacked a "wow" factor for investors. As a result, the market seemed to have already priced in the earnings, leading to a decline in all three major indexes on Wall Street. Despite yesterday's technical correction, Nvidia's strong earnings suggest that the tech industry remains robust, with ongoing demand for Nvidia's chips potentially driving future gains
Wall Street Rally on Soft CPI
The most anticipated economic indicator of the week, the U.S. Consumer Price Index (CPI), was released yesterday, coming in at 2.9%, below the 3% threshold and in line with the Producer Price Index (PPI) data from the previous day. This further sign of easing inflationary pressure in the U.S. has heightened expectations that the Federal Reserve may implement its first rate cut in September.
All Eye on Today’s NFP
The UK general election 2024 was held on Thursday, and while the results are yet to be finalized, the Labour Party is poised to win a majority, ending the Conservatives' 14-year rule. The UK's equity market index, FTSE 100, edged higher in the last session, while the Pound Sterling remained steady. The Labour Party is expected to focus more on fiscal policy and economic development through expanding the country's sovereign debt, which may strengthen the Pound Sterling.
NFP Shocks Market, Triggers Dollar Surge
Last Friday's U.S. Nonfarm Payroll (NFP) report rattled financial markets with a significantly higher-than-expected reading, far surpassing both market expectations and the previous month's figures. The robust job data dashed hopes for an early rate hike from the Federal Reserve, as a tight labour market could potentially spur higher inflation, prompting a more hawkish approach from the Fed regarding monetary policy.
Dollar stands tall as Fed heads toward taper
The dollar held within striking distance of the year's peaks on the euro and yen on Wednesday, as investors looked for the Federal Reserve to begin unwinding pandemic-era policy support faster than central banks in Europe and Japan.
Australian Dollar Price Chart: AUD/USD Reversal Stalls– Trade Outlook
The Australian Dollar is up more than 2.6% on the back of a five-day rally with price eyeing initial resistance. These are the levels that matter on the AUD/USD charts.
Canadian Dollar Price Chart: Loonie Rips as USD/CAD Tests Resistance
The Canadian Dollar is up nearly 0.5% against the US Dollar after reversing off a key technical confluence zone. Here are the levels that matter on the USD/CAD weekly chart.
US Dollar Price Targets: USD Threatens Breakout of Uptrend Resistance
The US Dollar is probing fresh yearly highs into the to open of September trade, but is the rally sustainable？ Here are the levels that matter on the DXY weekly chart.
Japanese Yen Price Targets: USD/JPY Breakout Pending- Trade Levels
Price has set a well-defined weekly opening-range just below downtrend resistance and were looking for the break. Here are the levels that matter on the USD/JPY charts.
Canadian Dollar Price Outlook: USD/CAD Four-Week Rally Vulnerable
Loonie was nearly unchanged against the US Dollar last weeks with price failing just pips from resistance. Here are the levels that matter on the USD/CAD weekly chart.
USD Soars on Fed, Gold Price Cleared Support on Less Dovish Powell
The US Dollar soared as the Fed cut rates for the first time since 2008 but Chair Jerome Powell surprised less dovish, increasing the risk of a reversal in anti-fiat gold prices.
Japanese Yen Price Chart: USD/JPY Breakout Trade Levels for FOMC
An outside-day reversal off resistance leaves the immediate focus on a breakout of the recent price range. Here are the levels that matter on the USD/JPY charts.
US Dollar Price Outlook: DXY Breakout vs Fed Rate-Cut – Trade Levels
The US Dollar is approaching resistance at the yearly highs with major event risk on tap. Here are the levels that matter on the DXY weekly chart into the close of July.
Why the Euro, Dollar Rally After the ECB？ Leaving EURUSD at Support
The Euro gained after the ECB as Mario Draghi disappointed dovish expectations, rising bond yields spread into North America as the US Dollar rallied, leaving EUR/USD at key support.
US Dollar Index Weekly Price Outlook: USD Collapse Searches Support
The US Dollar Index is poised to mark an outside-weekly reversal with price now challenging the June range low. These are the levels that matter on the DXY weekly chart.
Aussie Price Outlook: Australian Dollar Breakout Vulnerable into RBA
The Aussie breakout is testing initial resistances targets with the RBA on tap tonight – a cut is expected. Here are the levels that matter on the AUD/USD charts.
Canadian Dollar Weekly Price Outlook: Loonie Breakout Imminent
Loonie continues to trade within the confines of the monthly opening-range heading deep into May trade. These are the levels that matter on the USD/CAD weekly chart.
Canadian Dollar Price Outlook: USD/CAD at Weekly High as Loonie Dives
Loonie is virtually unchanged this week with price holding the weekly opening-range heading into NFPs tomorrow. Here are the levels that matter on the USD/CAD charts.
Canadian Dollar Price Outlook: USD/CAD- Break or Bend, Monthly Highs
Loonie is virtually unchanged on the week with price posting well-defined opening-range just below resistance. Here are the levels that matter on the USD/CAD charts.
Kiwi Weekly Price Outlook: NZD/USD Rebuffed at 2019 Range Resistance
Kiwi failed at key resistance this week and keeps the focus on a break of the yearly opening-range. Here are the levels that matter on the NZD/USD weekly chart.