Investors will likely turn their attention towards the US CPI data released on Wednesday. Unlike in Europe, inflation has been surprisingly stubborn in the US in the past few months, and that has been limiting the Federal Reserve’s ability to start considering cutting rates. Whilst the resilience in the economic data has been keeping US equities supported, the...
Global equities are back pursuing new highs in force. European indices have been standing out in the past week with the FTSE 100, DAX 40 and EURO STOXX 50 all beating the performance of US equities. The outlook seems brighter in Europe as growth has remained positive in the first quarter of the year and that has been driving the push higher.
The DAX 40 has...
With OPEC's Oil Market Report set for release on Tuesday and the International Energy Agency's Oil Market Report on Wednesday, volatility looms over crude prices this week. Let's delve into the technical landscape of Brent Crude, the international oil benchmark, as we approach these pivotal reports.
Brent Technical Outlook: Retracement Channel in Focus
After...
The FTSE 100’s recent surge has been led by the pharmaceutical sector, marking a 13.7% increase in just the last month. Let’s delve into the standout performers that are leading the rally.
AstraZeneca (AZN): +14.5% YTD
AstraZeneca’s share price jumped higher following the release of a market-beating set of results…
In the first quarter of 2024, AstraZeneca...
The Bank of England has left rates unchanged at 5.25% as widely expected. But the vote split from the Monetary Policy Committee (MPC) members did come as somewhat of a surprise, with seven members voting unchanged and two voting to cut. Swati Dhingra was expected to vote to cut rates by 25bps as she did in the previous meeting, but Dave Ramsden’s vote to cut was...
As gold prices recalibrate in recent weeks, let’s explore pivotal levels worth monitoring for potential trend continuation and mean reversion trades.
Pullback Leads to Price Compression
After a robust surge of over 20% between February and April, gold has entered a phase of 'mean reversion' over the past fortnight.
Gold prices have retraced to the basis of...
Gold traders have been struggling to find a direction in recent weeks as some of the key drivers have diminished. XAU/USD has been hovering around $2,310 for the past eight days as there is a lack of drive to be either a seller or buyer under the current conditions.
The de-escalation of tensions between Iran and Israel has removed some of the bullish appetite in...
Welcome to the final instalment of our series on hunting for trend days. In Part 1, we covered the fundamental characteristics of trend days and essential tools for identifying them early. Part 2 delved into advanced strategies for maximising opportunities and effectively managing trades during trend days. Now, let's explore case studies of successful trend day...
Volatility in USDJPY has increased over the past few days as markets believe Japanese officials may have secretly intervened in the FX market. The pair breached the 160 mark earlier in the week but did a quick turnaround and headed back towards 154, prompting speculation of an intervention.
The fact the Bank of Japan kept rates unchanged on Friday weighed...
Welcome back to the second part of our series on hunting for trend days. In Part 1, we explored the fundamental characteristics of trend days and the essential tools for identifying them early. Now, let's delve deeper into advanced strategies for maximising opportunities and effectively managing trades during trend days.
Advanced Strategies for Identifying...
As Amazon gears up to announce its first-quarter earnings for 2024 after today’s closing bell (April 30th), traders are poised to capitalise on the potential volatility and opportunities that this news event may bring to the market.
Let's delve deeper into what investors can expect from Amazon's Q1 earnings by examining market expectations, growth drivers, and...
With USD/JPY’s volatility surging amidst rumours of impending Bank of Japan (BoJ) intervention, let’s examine the pivotal factors driving this market.
Monetary Policy Divergence Fuels Rally
USD/JPY has surged since the start of the year, propelled by a notable divergence in monetary policy between the Federal Reserve and BoJ. Last Friday, the BoJ's decision...
The US economy grew 1.6% in the first quarter of 2024. The actual figure was lower than the estimates of 2.5%, which caused some re-pricing of risk sentiment in markets after the data was released.
Albeit the data was lower than anticipated, the US economy still managed to grow in the first quarter, a stark contrast to what is expected in many countries in...
Oil futures are struggling to regain their footing this week as traders perceive that risks of the Middle East tensions impacting supply have eased. The lack of damage or casualties following the retaliatory attacks Israel launched on Iran on Friday has led Iranian officials to deny any further retaliation from Tehran, a successful effort from diplomats who have...
US stock indices are attempting to halt their declines on Monday after heavy selloffs last week. The US 100, which focuses on the technology sector, dropped over 5% last week, its worst weekly performance since October 2022. The index is down over 8% from the highs at the end of March.
Resilient US economic data and geopolitical concerns have pushed investors...
Investors have been flocking to safe assets recently as tensions in the Middle East have escalated with two-way retaliatory attacks between Israel and Iran in the past few weeks. This has meant the bullish momentum has been building in the US dollar, weighing on most other major currencies.
GBP/USD has been caught in the crossfire but the weakening fundamentals...
The FTSE 100 has reached a new record high after pushing through the bearish sentiment that has taken over global equities in the past few weeks. The index, which is made up of the biggest 100 companies in the UK, closed above the previous high of 8,045 on Monday following a 1.6% rise on the day. The rally gathered strength on Friday when the index saw some...
XAU/USD threatens to drop below $2,300 for the first time in two weeks as easing geopolitical tensions drives investors away from safer assets. Equities have been attempting to recover this week as risk appetite increases, meaning investors are moving away from safe havens like the US dollar and gold, pulling away from their recent highs on Monday.
Profit-taking...
