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AUD/USD shrugs after weak confidence data
The Australian dollar continues to have a quiet week. AUD/USD is trading at 0.6671 in the European session, up 0.17% today at the time of writing. With the Australian economy sputtering, it should come as no surprise that today’s confidence indicators pointed downward.
10-09-2024 07:37 GMT by Kenneth Fisher
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GBP/USD Rises on Robust Labor Data - Challenges Ahead for the BoE
UK labor data beats expectations, with regular pay rising by 5.1% and employment increasing by 265k. BoE faces challenges in balancing strong employment figures with moderating wage growth and rate cut hopes. US CPI and PPI, and BoE Deputy Governor Sarah Breeden's comments, could impact GBP/USD's trajectory. Most Read: Is EUR/USD Vulnerable Ahead of ECB Meeting…? DXY to Play a Major Role The GBP benefitted following a positive UK labor data release this morning.
10-09-2024 05:45 GMT by Zain Vawda
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Is EUR/USD Vulnerable Ahead of ECB Meeting…? DXY to Play a Major Role
The US Dollar Index (DXY) has rebounded since Friday's jobs data release, driven by altered rate cut expectations. EUR/USD is particularly affected by the DXY recovery, with the Euro's recent strength potentially waning due to poor German data and shifting rate cut expectations. The DXY's technical analysis suggests further upside potential, with immediate resistance at 102.16 and 102.60.
09-09-2024 11:56 GMT by Zain Vawda
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S&P 500, Nasdaq 100 - ‘Soft Landing’ Optimism Leads to Early Week Gains
Major Wall Street indices started the week with gains, fueled by optimism for a "soft landing". Concerns remain about the divergence between full and part-time workers, a potential recession indicator. Technical analysis suggests potential for further upside in the S&P 500 and Nasdaq 100, but historical trends and upcoming events warrant caution.
09-09-2024 10:56 GMT by Zain Vawda
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EUR/CHF: Another potential downleg may intensify after weak China inflation
EUR/CHF has continued to exhibit a high direct correlation with France CAC and Germany DAX. China’s core inflation and producer prices for August have indicated a persistent trend of lackluster internal demand. Sluggish China’s consumer demand may hurt the profits of key European makers of luxury goods, cars, and machinery. Watch the key intermediate support of 0.9255 on the EUR/CHF. This is a follow-up analysis of our prior report, “EUR/CHF: Medium-term global risk-off kickstarts (Part 2)” pu
09-09-2024 07:12 GMT by Kelvin Wong
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Markets Weekly Outlook - ECB Rates, China and US Presidential Debate in Focus
US jobs data missed estimates, keeping recessionary fears very much in play. US Equities continue their September struggles as Oil falters as well. ECB expected to cut rates amidst slowing European economy, while UK jobs data and US CPI figures remain in focus. Read More: Bitcoin (BTC/USD) Eyeing a Deeper Reversal as ETF Outflows Continue Week in Review: Jobs Data Fails to Provide Clarity as Underlying Data Flashes Warning Signs
06-09-2024 13:14 GMT by Zain Vawda
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EUR/USD dips after US payrolls misses estimate
The euro has edged lower on Friday. EUR/USD is trading at 1.1088 in the North American session at the time of writing, down 0.20%. US nonfarm payrolls improves but misses estimate Today’s US nonfarm payrolls wasn’t a disaster but certainly nothing to smile about.
06-09-2024 10:36 GMT by Kenneth Fisher
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BoC cuts rates, Nvidia plunges, nonfarm payrolls loom
OANDA Market Analyst Kenny Fisher joins Jonny Hart to discuss this week’s key economic data and events as well as the impact on global markets. Pivotal week peppered with major events; Bank of Canada cuts rates for third straight time; US nonfarm payrolls could determine extent of Federal Reserve rate cut later this month; and Nvidia plunges by almost 10%
05-09-2024 14:12 GMT by Kenneth Fisher
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Bitcoin (BTC/USD) Eyeing a Deeper Reversal as ETF Outflows Continue
Bitcoin's price faces downward pressure amid global recession fears and ETF outflows. Short-term Bitcoin holders are feeling the pain, while long-term investors remain profitable. A deeper pullback is possible, with Bitcoin currently 22% below its all-time high. Most Read: US Dollar Index (DXY) Slips as JOLTS Dips Below 8 Million, Yen Strengthens Bitcoin prices have struggled to gain momentum of late with the fear and greed index remaining in fear territory.
05-09-2024 12:54 GMT by Zain Vawda
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AUD/USD steady after Bullock’s hawkish message
The Australian dollar has posted slight gains on Thursday. AUD/USD is trading at 0.6732 in the North American session, up 0.11% today at the time of writing. Australia’s economy has been dubbed a “horror show” by some local commentators and yesterday’s weak GDP release only reinforced the pessimism about economic conditions.
05-09-2024 12:39 GMT by Kenneth Fisher
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Canadian dollar steady ahead of BoC decision
The Canadian dollar is showing limited movement on Wednesday. In the European session, USD/CAD is trading at 1.3555 at the time of writing, down 0.08%. BoC expected to cut for third consecutive time All eyes are on the Bank of Canada, which will announce its rate decision later today.
04-09-2024 07:58 GMT by Kenneth Fisher
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Nasdaq 100: Torpedoed by Nvidia and may see further weakness
Major US bench stock indices (S&P 500, Nasdaq 100, Dow Jones Industrial Average & Russell 2000) started the month of September on a weak footing. The Nasdaq 100 was the worst performer (-3.15%) on Tuesday, 3 September dragged down by the higher-beta technology sector (Nvidia & other semiconductor stocks)
04-09-2024 07:01 GMT by Kelvin Wong
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