EURAUD: Downside pressure intensifies after RBA statement
The Reserve Bank of Australia announced a 25 basis point rate hike to 3.35% (the highest level since September 2012), in line with market expectations. The central bank has raised rates by a total of 325 basis points in nine hikes since last April. Affected by inflationary pressures and a tight labor market, the committee […]
US stocks tilting back to the downside as the trading day works toward the close
The clock ticks toward the end of day, the major US indices are also ticking lower. The Dow Industrial Average is down 73 points or -0.21% at 33856 S&P index is down -30.0 points or 0.72% at 4106.38. The 4100 level is a key level or short-term bias in the S&P NASDAQ index is down […]
analysts see more downside By Investing.com
© Reuters. EUR/USD weekly price forecast: Analysts see more downside By Senad Karaahmetovic is trading modestly lower on Monday after staging a key reversal day candle on Friday following a much stronger-than-expected in the U.S. Not only could the EUR/USD not close near weekly highs, but the failure to secure a green close occurred while […]
EURUSD reaches downside target swing area
EURUSD falls to the low from earlier this week/swing area The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase […]
GBP/USD finds a cushion around 1.2200, downside seems favored as spotlight shifts to US NFP
GBP/USD has attempted to build a cushion around 1.2200 after a perpendicular sell-off. Investors are dumping the risk-perceived assets as anxiety among investors is soaring ahead of the US NFP data. The BoE might continue hiking interest rates as UK inflation is extremely stubborn. The GBP/USD pair has sensed a pause in its vertical downside […]
Market Spotlight: Downside GBP Risks into BOE Today
BOE Up NextThe Bank of England meeting today will be pivotal for GBP. Concerns over the UK economy have become a prominent issue in recent months with widening industrial action, ongoing Brexit-related difficulties, covid disruptions and political instability all exerting downward pressure on GBP. The BOE’s tightening operations have added to the pressure for UK […]
Downside risks dominate in Sterling – Commerzbank
Everything is pointing towards tough times in the UK. Therefore, economists at Commerzbank expect Sterling to remain under pressure. Not much upside for Sterling “Little has changed about Sterling’s fundamental environment. The economic situation remains dire, inflation risks high and the BoE intent on navigating these troubled waters.” “We consider the likelihood of the BoE […]
Market Spotlight: Downside Risks for Exxon Into Today's Earnings?
Exxon in Focus All eyes are firmly on US earnings today with the world’s largest public energy firm, ExxonMobil, due to report Q4 results. On the back of a bumper +80% year for the stock, investors are looking for fresh reasons to hold Exxon through 2023. With that in mind, the focus for today’s earnings […]
Australian retail sales data due today – “risk firmly to the downside”
Australian retail sales data are due at 0030 GMT (this is 1930 US ET and 11.30am in Sydney): Snippet from National Australia Bank’s preview: Shifting seasonal patterns put the risk firmly to the downside in our view, and NAB pencils in a -1.0%, but with high uncertainty. Black Friday pulling spending into November drove the […]
Bulls are trapped, 0.6950 eyed before further downside potential to test below 0.6800
AUD/USD bears are stalling, for now, and there are eyes on 0.6935 with the 38.2% Fibonacci around 0.6950 Bears eye a break of 0.6905 to open the price imbalance below and a run to 0.6800 and 0.6750 below there. AUD/USD bulled in breakout traders when the price broke 0.7000 and reached the 0.7060s. At this juncture, the […]