Mexican Peso Gains as New Congress Takes Office
The Mexican Peso strengthened on Friday against the US Dollar following the release of the Federal Reserve’s (Fed) favored inflation measure, the core Personal Consumption Expenditures (PCE) Price Index, which came in slightly lower than expected. This supports the view that the disinflation trend is advancing, potentially paving the way for the Fed to cut […]
Retail Sentiment Flaw: GBP/USD and AUD/USD Analysis
AUD/USD Insights: 37.84% of traders are positioned long, creating a short-to-long ratio of 1.64:1. Long positions have increased by 1.20% from yesterday but are down 12.53% from last week. Short positions have climbed 1.79% from yesterday and are up 15.53% from last week. Retail traders often counter the prevailing market trend, which is usually not […]
EUR/USD: Euro Holds Ground Near 1.1150 Amid a Quiet Trading Day
Mild Decline for the Euro in Early Wednesday Trading The euro experienced mild losses in early trading on Wednesday, reflecting signs of fatigue that have been present over the past three days. The European currency is currently attempting to hold its ground around the 1.1150 level, which it temporarily dipped below. Limited Movement Amid Lackluster […]
NZD/USD Analysis: Potential Correction as Buying Weakens
The NZD/USD pair extended its gains for a third consecutive session on Thursday, climbing to a high of 0.6300 before settling around 0.6250. However, the quick rejection near the peak suggests that the buying momentum might be losing strength. The technical indicators are showing mixed signals. The Relative Strength Index (RSI) has risen to 68, […]
IG Retail Sentiment Report: AUD/USD and USD/JPY after Aussie CPI, BoJ Comments
Aussie Inflation Data Remains Mixed as Electricity Rebate Artificially Lowers CPI Australian inflation increased at an annual pace of 3.5% in July, down from 3.8% in June, according to the Australian Bureau of Statistics. This was slightly above the 3.4% estimate, but much of the decrease was due to rebates on electricity prices, which artificially […]
Oil Supply Worries Propel Prices Amid Libya Outages and Middle East Tensions
Oil prices surged following reports of disruptions at Libya’s key oilfields, a critical revenue source for the internationally recognized government in Tripoli. The oilfields, located in the eastern region of the country, are reportedly under the influence of Libyan military leader Khalifa Haftar, an opponent of the Tripoli government. While Libyan Prime Minister Abdulhamid al-Dbeibah’s […]
FTSE 100, DAX 40, and S&P 500 Pause Ahead of Nvidia Earnings
FTSE 100 Gains Momentum After Bank Holiday The FTSE 100 has resumed its upward momentum, approaching its mid-August high of 8,374. The early August peak at 8,404 also remains within reach. The immediate upward pressure is likely to persist as long as last week’s low of 8,240 holds. Below this level, the 55-day SMA at […]
EUR/USD Price Forecast: Positive Outlook Remains Strong
EUR/USD Overview The EUR/USD currency pair recently revisited the year-to-date peak around 1.1200. After achieving new highs just above this level at the start of the week, the pair encountered some downward pressure and paused its multi-week upward momentum. This mild correction occurred alongside a modest resurgence in US Dollar (USD) buying interest. The Greenback […]
EUR/USD Rally: Is There More Room to Climb?
EUR/USD Technical Analysis On the 4-hour chart, EUR/USD has established itself above the 1.1100 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair has also crossed the 1.1150 mark and tested the 1.1200 level. Currently, the pair is consolidating its gains just below 1.1200. The immediate […]
Sentiment Analysis: EUR/USD, GBP/USD, and Gold
EUR/USD Sentiment Retail trader data indicates that 25.76% of EUR/USD traders are net-long, with a ratio of traders short to long at 2.88 to 1. The number of traders net-long has increased by 12.88% from yesterday but decreased by 17.56% from last week. Conversely, the number of traders net-short has risen by 0.68% from yesterday […]
FTSE 100, DAX 40, and S&P 500 Await US Payroll Data and FOMC Minutes
FTSE 100 Takes a Breather After nearly two weeks of strong gains, the FTSE 100 has seen some profit-taking this week Investors are awaiting the release of the US FOMC minutes and the Jackson Hole symposium for insights into US monetary policy. The 55-day simple moving average (SMA) at 8,216 may come into play, with […]
Euro Gains Amid Stronger Eurozone PMIs, Weakening USD
Economic Activity Shows Mixed Signals in Eurozone Economic activity in the Eurozone saw an uptick in August, according to the latest HCOB PMIs. However, HCOB chief economist Dr. Cyrus de la Rubia cautions that the underlying fundamentals may not be as robust as they appear. “It’s a story of two contrasting sectors. The manufacturing sector […]
Nikkei 225, Dow Jones, Nasdaq 100 Show Waning Momentum
Nikkei 225 Stalls Near Key Moving Averages The Nikkei 225 has been trading sideways around the 200-day simple moving average (SMA) at 38,284, remaining below the 55-day SMA at 38,577 for the past week. A move above these averages could target the late July high of 39,281. However, a drop below Monday’s low of 37,163 […]
FTSE 100, DAX 40, and S&P 500 Brace for US Payroll Data and FOMC Minutes
FTSE 100 Pauses After Strong Gains After nearly two weeks of robust buying, the FTSE 100 is seeing some profit-taking ahead of the release of the US FOMC minutes and the upcoming Jackson Hole symposium, which could provide further insights into US monetary policy. The index may revisit the 55-day simple moving average (SMA) at […]
US Dollar Slide Boosts EUR/USD and GBP/USD
FOMC Minutes Awaited as Traders Anticipate Rate Cuts Later today, the FOMC meeting minutes will be released, offering deeper insights into why the Federal Reserve maintained interest rates at 5.25%-5.5%. Since the July meeting, economic data has increasingly signaled a weakening US economy, leading to speculation that the Fed may begin cutting rates in September. […]
EUR/USD Market Sentiment Overview
EUR/USD Market Sentiment Overview Currently, only 25.61% of traders are net-long on EUR/USD, with the ratio of short to long traders standing at 2.90 to 1. Recent shifts in trader positions reveal a decrease of 8.49% in net-long positions since yesterday, and a more significant drop of 27.19% from last week. On the other hand, […]
Dollar Stays Weak Before Jackson Hole: USD/JPY and Gold Updates
The annual Jackson Hole Symposium, themed “Reassessing the Effectiveness and Transmission of Monetary Policy,” is scheduled for August 22-24. The spotlight is on Fed Chair Jerome Powell’s keynote address on Friday. Traders are closely watching for hints that the Federal Reserve might begin cutting interest rates in September, with markets already pricing in nearly a […]
FTSE 100, DAX 40, and S&P 500 Pause After Gains
Following eight consecutive days of advances, the FTSE 100 experienced some profit-taking on Friday as traders adjusted positions amid ongoing rate cut expectations on both sides of the Atlantic. Monday morning’s trading has been quiet due to a sparse economic calendar. Resistance is identified at last week’s high of 8,369, with further resistance at the […]
EUR/GBP Sentiment Analysis: Traders Turn Net-Long for the First Time Since Early August
Retail trader data reveals that 50.94% of traders are currently net-long on EUR/GBP, with a long-to-short ratio of 1.04 to 1. This marks the first time traders have been net-long since August 5, when EUR/GBP was trading near 0.86. Since that date, the pair has declined by 0.69%. Notably, the number of traders holding net-long […]
Market Indices Surge: Nasdaq 100, Dow, and Nikkei 225 on the Rise
Nasdaq 100 Continues Its Upward Momentum The Nasdaq 100 has experienced a strong rally over the past week, rebounding sharply off its 200-day simple moving average (SMA). The next targets are the 19,500 highs observed on July 31 and August 1, followed by the 50-day SMA. Beyond these levels, the 20,000 mark comes into focus. […]
