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S&P 500, Nasdaq 100 - Wall Street Slides at the Open as Powell Hints at Modest Rate Cuts

Wall Street indexes fell as Fed Chair Powell's comments suggested a less aggressive rate cut in November than anticipated. US PMI data indicated a sharp decline in manufacturing new orders, job shedding, and rising output price inflation. Triangle breakout pattern still in play from a technical standpoint. Retest and continuation?

01-10-2024 11:17 GMT by Zain Vawda

Euro extends losses as eurozone CPI slows to 1.8%

The euro continues to lose ground and is trading at 1.1080 in the North American session, down 0.49% on the day. The euro is down for a third consecutive day and has declined 0.9% during that time. Eurozone CPI lower than expected Eurozone inflation eased to 1.8% y/y in September, down from 2.2% in August and below the market estimate of 1.9%.

01-10-2024 10:42 GMT by Kenneth Fisher

Brent Crude - Oil Slides 2% in European Trade Before a Recovery, OPEC+ Meeting Next

Oil prices fell by 2.4% in early European trade, possibly due to demand concerns and rebalancing. Concerns about China's economic recovery and the possibility of increased Libyan oil production are also weighing on oil prices. From a technical perspective, the H4 chart showing RSI divergence. Higher prices ahead?

01-10-2024 08:28 GMT by Zain Vawda

Japanese yen slips as Powell signals small cuts

USD/JPY is calm on Tuesday after the US dollar jumped 1.03% a day earlier. In the European session, the yen is trading at 143.76 at the time of writing, up 0.10%. Japan's parliament elects Ishiba Prime Minister Japan’s political drama continued on Tuesday with the election of a new prime minister, Shigeru Ishiba.

01-10-2024 06:46 GMT by Kenneth Fisher

NZD at 14-mth high as NZ business confidence jumps

The New Zealand dollar is higher for a third straight day. NZD/USD is trading at 0.6374 at the time of writing, up 0.53% on the day. New Zealand business confidence hits 10-year high The week started on a positive note as New Zealand’s ANZ business confidence surged to 60.9 in September, up sharply from 50.6 in August and crushing the forecast of 43.0.

30-09-2024 13:34 GMT by Kenneth Fisher

Gold (XAU/USD) Prices Slide as Q3 Draws to a Close

Gold prices fell due to a stronger dollar and end-of-quarter flows, despite being on track for the best quarter since Q1 2016. The market is awaiting US jobs data on Friday, which could impact rate cut expectations and the US dollar. Gold remains extremely overbought at present, will the NFP report inspire a deeper correction?

30-09-2024 11:01 GMT by Zain Vawda

Euro steady as Germany’s CPI lower than expected

The euro is steady at the start of the trading week. EUR/USD is trading at 1.1170 in the North American session at the time of writing, up 0.06% on the day. Germany’s CPI eases to 1.6% Inflation in Germany slowed to 1.6% y/y in September, down from 1.9% in August and shy of the market estimate of 1.7%.

30-09-2024 10:20 GMT by Kenneth Fisher

Japanese yen soars on Japan’s political drama

The Japanese yen has steadied on Monday after posting huge gains on Friday. USD/JPY is trading at 142.43 in the European session, up 0.15%. Incoming PM Ishiba says he’ll call snap election The yen soared on Friday but it was in response to political rather than economic developments.

30-09-2024 07:54 GMT by Kenneth Fisher

Hang Seng Index: Start of a potential new medium-term bullish trend

Aggressive interest rate cuts by PBoC coupled with potential expansionary fiscal policies that target consumer spending have stoked positive animal spirits. Market breadth has improved on China CSI 300 and Hong Kong Hang Seng Index. Watch the key medium-term support of 18,290 on the Hang Seng Index. Since the start of last week, a change of fortunes has occurred in the China and Hong Kong stock markets due to a revival of positive animal spirits driven by a fresh aggressive monetary policy stan

30-09-2024 06:14 GMT by Kelvin Wong

Markets Weekly Outlook - Will the NFP Report Validate Rate Cut Optimism?

Fed policymakers maintain a dovish stance, and market participants are pricing in a potential 50 basis point rate cut in November. The US dollar hit a fresh YTD low, while Gold and Silver continued to advance. The week ahead features key data releases, including Eurozone inflation and US nonfarm payrolls, which could shape central bank policies and market sentiment.

27-09-2024 13:20 GMT by Zain Vawda

US Dollar Index (DXY) Slides to Fresh Lows Post PCE Data

US Dollar Index hits new yearly low after PCE inflation report came in softer than expected. PCE data shows personal income rose less than expected, PCE price index increased by 0.1% MoM, and core PCE increased by 0.1%, below expectations. DXY is on the edge of a cliff as rate cut bets and dovish Fed rhetoric weigh on the greenback.

27-09-2024 10:16 GMT by Zain Vawda

USD/CAD eyes Canada’s GDP

The Canadian dollar is steady on Friday. In the European session, USD/CAD is trading at 1.3476 at the time of writing, up 0.08%. Canada’s GDP expected to remain unchanged Canada’s GDP for July is expected at 0.1% m/m, unchanged from June.

27-09-2024 07:15 GMT by Kenneth Fisher

Japanese yen soars as Tokyo Core CPI falls to 2%

The Japanese yen is sharply higher on Friday. USD/JPY is trading at 143.49 in the European session, down a massive 1.1%. Tokyo Core CPI matches BoJ's target Tokyo Core CPI, which excludes fresh food, slowed to 2% in September, down from 2's.4% in August and matching the market estimate.

27-09-2024 06:12 GMT by Kenneth Fisher

Japanese yen eyes Tokyo Core CPI

The Japanese yen edged higher earlier but has pared those gains and is almost unchanged on the day. USD/JPY is trading at 144.81 in the North American session. Tokyo Core CPI expected to fall to 2% Japan releases Tokyo Core CPI, a leading indicator of inflation trends, early on Friday.

26-09-2024 12:46 GMT by Kenneth Fisher

Bitcoin (BTC/USD) Eyes Acceptance Above 200-day MA, ETF Flows Remain Positive

Bitcoin's price is flirting with a break above the 200-day moving average and the 65k handle. However, downside risks persist, including profit-taking potential and concerns about Mt. Gox repayments impacting Bitcoin's supply. Technically, a daily candle close above the 200-day MA and 65k handle could trigger a bullish breakout, while a rejection might lead to a correction. Most Read: Swiss franc edges lower after Swiss central bank cuts rates Bitcoin prices have held the high ground over the p

26-09-2024 12:09 GMT by Zain Vawda

Swiss franc edges lower after Swiss central bank cuts rates

The Swiss franc is showing limited movement on Thursday. USD/CHF is trading at 0.8483, down 0.24% on the day.

26-09-2024 06:05 GMT by Kenneth Fisher

USD/JPY jumps as BoJ Core CPI stalls

The Japanese yen is sharply lower on Wednesday. In the North American session, USD/JPY is trading at 144.49, up 0.89% at the time of writing. BoJ Core CPI remains unchanged at 1.8% The Bank of Japan is expected to raise interest rates and continue on the path to normalization.

25-09-2024 13:02 GMT by Kenneth Fisher

S&P 500, Nasdaq 100 - Wall Street Indexes Labor on a Mixed Wednesday

Wall Street indexes showed mixed results on Wednesday, with the S&P 500 near all-time highs and the Nasdaq 100 briefly surpassing 20,000. Tech stocks, particularly Nvidia and Hewlett Packard, supported the S&P 500, while General Motors and Ford declined after a Morgan Stanley downgrade. Technical analysis suggests further upside potential for the S&P 500, with a cup and handle pattern and triangle breakout hinting at a possible 500-point move.

25-09-2024 13:01 GMT by Zain Vawda

Swiss National Bank (SNB) Preview - FX Intervention Chatter, USD/CHF Eyes Range Breakout

Swiss National Bank (SNB) decision anticipated, markets split on 25 or 50 basis point rate cut. Strong Swiss Franc pressures exporters, raising expectations of FX intervention. SNB's comments on Franc and intervention will be key to future price movements. Most Read: Gold (XAU/USD) Prices Underpinned by Geopolitics, China Stimulus and ETF Flows, $2650 Up Next SNB Preview: FX Intervention Ahead? Market participants are awaiting the next major Central Bank decision.

25-09-2024 07:39 GMT by Zain Vawda

Australia’s inflation falls to 3-year low, Aussie dips lower

The Australian dollar has edged lower on Wednesday, after surging 1.1% since the start of the week. In the European session, AUD/USD is trading at 0.6879, down 0.18%.

25-09-2024 05:23 GMT by Kenneth Fisher

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