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Articles
AUDUSD testing key support after RBA minutes
The RBA minutes of their June meeting where another surprise hike had most of the market off side were released today, and they were surprisingly dovish. The board made clear the decision between a hike and hold was finely balanced and seems to suggest further hikes may require a high bar for inflation readings to sway them. AUD reaction was swift ...
June 20, 2023Read More >The Week ahead – BoE and SNB set to hike, RBA minutes and Jerome’s jawboning.
More Central bank action is set to dominate the news flow this week with the FOMC and ECB decisions done, coming up we have the Bank of England and the Swiss National bank with monetary policy meetings, sprinkled with a slew of Fed speakers which should keep markets interesting. US – Dollar Index holding critical support. US markets will ge...
June 19, 2023Read More >Asia Morning FX – AUD and EUR surge, USD takes a hit post FOMC, BoJ ahead
USD tumbled in Thursday’s session in the wake of a dovish Powell presser (relative to statement/dot plots) saw the Dollar bears in charge. This, coupled with a hawkish ECB and mixed US data saw DXY fall from highs of 103.38 in the European morning to a low of 102.08, with the psychological 102 level the next obvious support. A hawkish ECB, where ...
June 16, 2023Read More >Asian stocks looking to open in the green after a volatile post-FOMC session on Wall St
US markets finished mixed in a chaotic session as the long-awaited June FOMC monetary policy meeting concluded. As expected, the Fed held rates steady after 10 straight hikes, the tone of the accompanying statement was quite hawkish, signalling higher for longer in rates and the possibility of more hikes to come. More mixed signals were given by Ch...
June 15, 2023Read More >Adding the RSI to your entry or exit decision-making
The Relative Strength Index (RSI) is an oscillator type of indicator, designed to illustrate the momentum related to a price movement of a currency pair or CFD. In this brief article we aim to outline what this indictor may tell you about market sentiment, and along with other indicators assist in your decision-making. As with most oscillator...
June 14, 2023Read More >Wall St rallies on softer CPI ahead of FOMC, USD down, Yields up
Another day, another stock rally on Wall St in Tuesday’s session with a softer than expected headline CPI print seeing US rate hike odds completely evaporate before today’s pivotal FOMC meeting. Small caps led the way with the Russell 2000 rising 1.23%, and another record for TSLA, surging 41% in the last 13 green trading sessions. U...
June 14, 2023Read More >Asian markets looking to open strongly as big tech pushes US markets higher ahead of CPI
US markets rallied strongly again to start the week with lower yields, on the back of hopes of a Fed pause this week, saw big tech surge and the Nasdaq (+1.53%) lead major indices to print fresh YTD highs. Another day, another up day for Tesla (TSLA) with its stock price rising for the 12th straight day - the longest winning streak in the co...
June 13, 2023Read More >Wall St rally sees S&P 500 enters technical bull market – VIX dumps, Gold pumps
A tech led rally saw the S&P 500 index enter a technical bull market after rallying 20% from the October 2022 lows, a big miss on unemployment claims which saw it hit 19-month highs added to the “bad news is good news” narrative, sending yields lower, chances of a Fed rate hike next week tumbling and risk assets soaring. Big mover in...
June 9, 2023Read More >AUDUSD Soars on RBA Hike, EURUSD underperforms, CAD, GBP, JPY wrap
USD was firmer on Tuesday amid a light news calendar sparse in any key risk events. The US Dollar index again having a choppy session in a tight range with EURUSD weakness giving the Dollar a tailwind, also helping the greenback was ramped up US growth forecasts from Goldman Sachs and the World Bank hitting the wires. EUR was the G10 underpe...
June 7, 2023Read More >Could the Reserve Bank of Australia hike rates further?
The Australian interest rate is currently at 3.85% and the most recent consumer price index (CPI) released at 6.8% which indicates slightly higher than expected inflation growth (expectation was 6.4% with previous data at 6.3%). This puts more focus on the upcoming interest rate decision from the Reserve Bank of Australia (RBA). While further rate ...
June 6, 2023Read More >US markets lower as rally takes a breather on disappointing data, Apple underwhelms
US stock indices were broadly lower in Monday’s session after an impressive start to June took a breather on a quiet news day, with the only tier one release being ISM services PMI which had a surprise miss coming in at 50.3 vs an expected 52.6 indicating the US economy is struggling to remain in expansion (a reading above 50). Apple (AAPL) he...
June 6, 2023Read More >Market Analysis 5 – 9 June 2023
XAUUSD Analysis 5 – 9 June 2023 The overall outlook for gold prices is bearish in the short term. As there was a loss of buying momentum after testing the resistance area 2070, forming a Triple Top pattern on the Weekly timeframe, then there was a strong sell momentum, causing the price to fall below the price line. 1960s price line wh...
June 5, 2023Read More >The trading week ahead – Central banks back in action RBA, BoC
Debt ceiling issues finally being put to rest last week saw a broad rally in US and global, with a big move up on Friday seeing the S&P 500 have its best week since March and hit it’s highest level since August last year. With Asian and US futures pointing to positive start to the week the risk on narrative seems to be continuing and w...
June 5, 2023Read More >US stocks rise to start the new month on debt ceiling optimism, data and Fed speak – NFP ahead
Major US indices broadly rallied in Thursdays session as the US debt ceiling can got kicked another two years down the road after a deal was passed through Congress, US data and Fed speak also supported a narrative shift in expectations of how hawkish the Fed is going to be going forward. The Nasdaq again led gains, (+165 points / 1.28%) , The N...
June 2, 2023Read More >Hot CPI fails to hold AUDUSD above key level
Australian CPI released today surprised to the upside coming in at 6.8% y/y , well above the consensus of 6.4% which itself was an increase on March’s figure of 6.3% Coming into the figure futures markets had priced in a measly 2.5% chance of a hike next week by the RBA, that changed dramatically with odds jumping to 18.8% for a 25bp hike ac...
May 31, 2023Read More >
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