https://open.spotify.com/episode/0JgLyfS53K2myidU4b6R2u?si=25a7884d0f5e4c3f&nd=1&dlsi=34ee0824822e4e95
16-08-2024 05:26 GMT
by Kenneth Fisher
All news & analysis
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The British pound has extended its gains on Friday. GBP/USD is trading at 1.2887 in the European session, up 0.31% on the day at the time of writing.
16-08-2024 04:48 GMT
by Kenneth Fisher
The Japanese yen is sharply lower on Thursday. In the North American session, USD/JPY is trading at 149.02, up 1.1% on the day.
Japan’s economy bounces back in second quarter
Japan’s economy jumped 3.1% y/y in the second quarter, an impressive turnaround from the revised 2.3% decline in the first quarter and above the market estimate of 2.1%.
15-08-2024 13:20 GMT
by Kenneth Fisher
The British pound posted losses earlier but has clawed back and is in positive territory. GBP/USD is trading at 1.2846 in the North American session, up 0.20% on the day.
UK GDP rises for second straight quarter
After sustaining a technical session in the second half of 2023, the UK economy is on a rebound.
15-08-2024 10:37 GMT
by Kenneth Fisher
The Australian dollar is in positive territory on Thursday. AUD/USD is trading at 0.6607 in the European session, up 0.16% on the day at the time of writing.
15-08-2024 09:07 GMT
by Kenneth Fisher
The market seems to be focused now on growth-related macro data rather than inflation risk.
Another softer US retail sales may spark another recession aka hard-landing fear.
The rise of the VVIX / VIX ratio may see another potential spike in the VIX.
Watch the 19,230 key short-term resistance on the Nasdaq 100.
In July, the Nasdaq 100 was the worst-performing benchmark US stock indices where it recorded a monthly loss of -1.6% versus the S&P 500 (+1.1%), Dow Jones Industrial Average (+4.4%), a
15-08-2024 07:09 GMT
by Kelvin Wong
Gold prices rebounded after a post-CPI selloff, aided by a struggling US Dollar Index.
A sustained move above $2500/oz for gold may require an additional catalyst, like geopolitical risks.
The DXY faces challenges and is likely to remain subdued, with technical indicators suggesting a potential retracement. Will it Materialize?
15-08-2024 05:36 GMT
by Zain Vawda
Rising US crude inventories are putting downward pressure on oil prices, interrupting a six-week slump.
Geopolitical tensions in the Middle East and supply issues in Libya could potentially drive prices up.
Softening demand from global airlines, especially for jet fuel, complicates the demand landscape.
Conflicting signals from fundamental factors are expected to keep market participants on high alert.
MOST READ: S&P 500, Nasdaq 100 Inch Higher Following US PPI Data
Oil prices are heading for t
14-08-2024 13:31 GMT
by Zain Vawda
The British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2844 in the European session, down 0.15% on the day.
UK inflation report supports case for September rate cut
Headline inflation in the UK rose 2.2% y/y in July, up from 2% in June but below the market estimate of 2.3%.
14-08-2024 08:25 GMT
by Kenneth Fisher
The New Zealand dollar is down 1% on Wednesday, after the Reserve Bank lowered interest rates today. NZD/USD is trading at 0.6017 in the European session at the time of writing.
RBNZ lower rates for first time in four years
The Reserve Bank of New Zealand had investors on edge right up to the wire of today’s rate announcement.
14-08-2024 07:36 GMT
by Kenneth Fisher
Market expectations for July's US CPI data release are centered around a 0.2% month-over-month increase and a 3% year-over-year increase.
Different CPI outcomes will have varying effects on the markets with each potential outcome broken down.
The US Dollar Index (DXY) is currently testing support at 102.40 and faces immediate resistance at 103.00.
Will the Inflation print solidify a September rate cut?
14-08-2024 06:25 GMT
by Zain Vawda
US PPI data came in weaker than expected, leading to increased rate cut bets and a rise in US indices.
Th Immediate resistance for the S&P 500 is at 5421, with support at 5330.e June-August period is historically the second-strongest 3-month period for the S&P 500, averaging a 3.2% return.
Immediate resistance for the S&P 500 is at 5421, with support at 5330.
13-08-2024 11:10 GMT
by Zain Vawda
New Zealand's core inflation trend has decelerated at a faster pace than Australia.
RBNZ may use tomorrow’s monetary policy meeting to offer dovish guidance and bring forward its projected first interest rate cut in H1 2025.
A dovish hold by RBNZ may reinforce the continuation of the AUD/NZD medium-term bullish trend with key support at 1.0890/0840.
On Wednesday, 14 August, the New Zealand central bank, RBNZ will announce its monetary policy decision.
13-08-2024 07:27 GMT
by Kelvin Wong
Unemployment rate fell to 4.2%, with a decrease in both short-term and long-term unemployment.
UK wage growth slowed to its lowest level in two years, yet surpassed market expectations.
Despite positive jobs data, BoE policymakers warn of potential inflation rebound in H2 2024, supported by a slight increase in grocery inflation.
Cable edged higher but key resistance levels up ahead.
Most Read: Brent Crude – Oil Advances as OPEC Cuts Demand Forecast
Cable has continued to edge higher this morni
13-08-2024 04:57 GMT
by Zain Vawda
Oil prices continue to rise despite OPEC cutting demand forecasts for 2024 and 2025.
OPEC is likely to extend production cuts as the October deadline approaches, with Saudi crude oil exports to China expected to drop in September.
The rally is fueled by easing US recession fears, but upcoming US data releases could shift market sentiment.
A host of resistance levels up ahead. will the rally have the legs to continue?
12-08-2024 11:49 GMT
by Zain Vawda
The New Zealand dollar has started the week with gains. NZD/USD is trading at 0.6026 in the North American session, up 0.45% at the time of writing.
Will the RBNZ lower rates this week?
The Reserve Bank of New Zealand meets on Wednesday and it’s a live meeting as the decision is expected to be a close call.
12-08-2024 11:09 GMT
by Kenneth Fisher
The British pound is drifting on Monday. GBP/USD is trading at 1.2768 early in the North American session, up 0.08% on the day.
Wage growth expected to slide
The UK releases the employment report for the three months to June and we could see signs of a cooling labour market.
12-08-2024 10:39 GMT
by Kenneth Fisher
China’s lacklustre core consumer inflation growth for July suggests the current pace of piecemeal stimulus measures is not sufficient to eradicate deflationary pressures.
The “non-abating” deflationary risk scenario pushed the 10-year China sovereign bond yield to a record low of 2.12% last Monday, 05 August.
The price actions of the Hang Seng Index have traded below its 50-day and 200-day moving averages.
This is a follow-up analysis of our prior report, “Hang Seng Index: Weak key China data
12-08-2024 06:43 GMT
by Kelvin Wong
The Australian dollar has started the week in positive territory. AUDUSD is trading at 0.6596 in the European session, up 0.41% on the day at the time of writing.
Australian dollar recovers as markets stabilize
The Australian dollar has quickly recovered from the recent turbulence which routed global stock markets.
12-08-2024 05:28 GMT
by Kenneth Fisher
US equities rebounded from a selloff earlier in the week, ending slightly higher. However, caution remains due to upcoming economic data releases.
The Japanese Yen is heading for its first losing week in six, impacted by a peak in short-position unwinding and dovish BoJ comments.
The upcoming week features significant data releases, including US and UK inflation, Chinese economic figures, and the RBNZ interest rate decision.
09-08-2024 14:39 GMT
by Zain Vawda