Oil price rises on growing geopolitical tensions but still holding under key resistances
WTI oil opened with gap higher on Monday, as supply worries rose after the latest escalation of the conflict in the Middle East, which threatens of deepening crisis.
The price bounced from last week’s low, retracing around 50% of…
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US inflation ticks higher in June – PCE
The US personal consumption expenditures (PCE) price index, Fed’s preferred inflation gauge for monetary policy, ticked up 0.1% in June after flat figure in May.
Annualized PCE price index climbed 2.5% previous month, in line with…
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Gold edges higher from daily cloud top as markets await release of US data
Gold price rose on Friday, as traders collected some profits from sharp fall in past two days (down nearly 3%), with strong acceleration lower on Thursday being sparked by upbeat US Q2 GDP numbers.
Strong technical support, provided by…
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USDJPY – upticks under daily cloud base to mark positioning for fresh push lower
USDJPY keeps slight bullish bias on Friday and attempting to generate initial reversal signal, after larger bears stalled on Thursday and left long-tailed Doji on bounce from new multi-week low, which also formed a bear-trap on daily chart…
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The dollar index remains within near-term range ahead of key US inflation data
The dollar index edged higher in Friday morning but is still holding within a choppy range that extends into sixth straight day.
Long tails of daily candle of past two days and repeated closes above north turning 10DMA, add to existing…
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US economy grew above expectations in Q2 – GDP
The US economy's acceleration in the second quarter of 2024, coupled with easing inflation, presents a complex landscape for policymakers and financial markets. The GDP growth at an annualized rate of 2.8%, exceeding expectations, alongside…
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AUDUSD – steep downtrend breaks below the base of thick daily cloud
Steep fall extends into the ninth consecutive day and accelerated on Thursday (down 0.85% in Asian / European session), hitting the lowest levels since early May and being on track for the biggest weekly loss since mid-June 2023.
Break…
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EURJPY falls to new multi-week low after break of key support
EURJPY extends steep fall into fifth straight day and hit 11-week low in early Thursday (down 1% in Asian session).
Recent interventions by Japan’s authorities boosted yen across the board and fresh strength gained strong momentum,…
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USDJPY – bears accelerate through pivotal supports
USDJPY hit 8-week low on Wednesday, as bears accelerated on Wednesday (down 1.3% for the day so far).
Bear-leg from 157.86 (July 19 lower top) broke through rising and thickening daily cloud (156.30/155.87), 100DMA (155.34) and 50%…
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EURUSD – bears faced headwinds at pivotal Fibo support
EURUSD extended pullback from a multi-month high (1.0948) and cracked pivotal supports at 1.0840/33 (Fibo 38.2% of 1.0666/1.0948 / 20DMA) but struggling to make a clear break lower.
Oversold conditions on daily chart provided headwinds,…
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