S&P500 Futures continues downside on slowdown fears, yields refresh multi-month low
Market sentiment remains negative as lower US PPI has pushed S&P500 valuations to the expensive side. Firms have been forced to trim the prices of their offerings to match weaker demand. Lower US PPI-inspired downward revision for inflation projections has sent US Treasury yields to a multi-month low. Intense sell-off by the market participants in […]
PPI and Retails Sales Miss to the Downside, USD down, Stock up
US Market Alert: PPI and Retail Sales US Producer Price Index (PPI) beats estimates to the downside (-0.5% vs est. -0.1%) US retail sales dropped faster than anticipated in December (-1.1% vs est. -0.8%) Customize and filter live economic data via our DailyFX economic calendar Lower PPI adds Further Pressure on the Fed to Pause […]
Market Spotlight: BOJ Speculation Risks EURJPY Downside Break
EURJPY Sitting on Key Level Price action in EURJPY is looking interesting here. The pair is currently sitting near the middle of the 133.27 – 147.75 range which has framed price action since Q2 last year. Over the last few months, EURJPY has been correcting lower, despite broad strength in EUR. Of late, JPY has turned […]
USDJPY dips to a new low. Lower inflation from Michigan helps that move to the downside.
USDJPY falls below the 61.8% retracement Looking at the daily chart, the price has moved below the 61.8% retracement of the move up from the 2022 low and trades at the lowest level going back to early June 2022. That level comes in at 128.16. The low price reached 127.55. The current price trades at […]
Retreats from multi-month top, downside potential seem limited
AUD/USD fails ahead of the 0.7000 mark and corrects from a multi-month top touched on Friday. A combination of factors helps revive the USD demand and exerts downward pressure on the pair. The technical setup favours bulls and supports prospects for the emergence of some dip-buying. The AUD/USD pair retreats from the vicinity of the […]
Eurozone risks are still tilted to the downside – Credit Agricole
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Credit Agricole discusses EUR/USD outlook and maintains a cautious bias over the coming weeks. “The positive […]
Further downside hinges on 131.30 break
USD/JPY remains pressured for third consecutive day as sellers poke one-week-old support line. Bearish MACD signals, downbeat RSI signal further south-run. Any recovery remains elusive below 135.00 resistance confluence. USD/JPY holds lower ground near the intraday bottom surrounding 131.30 as bears flirt with the short-term key support during early Tuesday. In doing so, the Yen […]
Technicals Hint at Further Downside
GBP/USD Price, Chart and Analysis: Recommended by Zain Vawda Get Your Free GBP Forecast Most Read: US Dollar Soars as Rosy ADP Report Shapes High Expectations for NFPs Next GBP/USD FUNDAMENTAL BACKDROP Cable is facing a host of technical headwinds as it looks to recover yesterday’s losses against the greenback. The dollar continued its advance […]
Rising Wedge Breakdown Favors Downside
Brent Crude Oil Technical Analysis Brent crude oil breaks below the (bearish) rising wedge Upside momentum temporarily restricted at the 50 SMA IG client sentiment hints at a continued move lower as retail traders pile into longs The analysis in this article makes use of chart patterns and key support and resistance levels. For more […]