Weekly Market Update 31 July- Strong Advance GDP q/q Figures Propels Dollar Above 101.6 1. The dollar exhibited strength, surging above 101.6, driven by robust Advance GDP q/q figures. Flash manufacturing PMI revealed a slowdown in the deterioration of operating conditions, with a reading of 49.0
Weekly Technical Analysis Report 28 July – Bearish outlook on USDJPY 1. This week’s outlook on USDJPY: Bearish outlook seen Price has been adhering to the observed descending trendline on the H4 timeframe. A pullback to the key resistance zone at 141.00, which coincides with
Weekly Market Update 24 July- Dollar Soars Above 101 Upon Persistent Unemployment Claims Data 1. The Dollar surpassed 101.0, driven by positive readings in the Empire State Manufacturing Index and persistent unemployment claims figures. The Index reported readings of 1.1, surpassing market estimates of -3.5, indicating
Weekly Technical Analysis Report 21 July – Bullish outlook on XAUUSD 1. This week’s outlook on XAUUSD: Bullish outlook seen Currently, there is bullish order flow, with higher lows and higher highs created. A throwback to support zone at 1955.00, which is in line with
Weekly Market Update 17 July- Optimistic CPI Triggers Dollar Plunge, Global Currencies Soar 1. The dollar tumbled this week to a low of 99.5 as the markets anticipate the cessation of interest rate hikes by the Feds. This comes after the release of US CPI data,
Weekly Technical Analysis Report 14 July – Bullish outlook on AUDUSD 1. This week’s outlook on AUDUSD: Bullish outlook seen Price is approaching a key resistance zone at 0.6900. A break above upside confirmation, coupled with a retracement to resistance-turned-support at 0.6700, which coincides with
Weekly Market Update 10 July– Dollar Reverses Gains as Non-Farm Payrolls Fall Short of Expectations 1. The dollar initially gained but later declined below the level of 102.3 following the release of weaker-than-expected labour market data. ISM manufacturing PMI came in at 46.0, falling short
Weekly Technical Analysis Report 7 July – Bearish outlook on NZDUSD 1. This week’s outlook on NZDUSD: Bearish outlook seen On H4 timeframe, price has recently rejected off from a key resistance zone at 0.6200 and broke below an ascending trendline. A pullback to resistance
2023 June Outlook for G7 Currencies Dollar Fundamental perspective: The dollar index closed at 103 in June after retracing from a 2-month high of 104.5. The Fed paused its tightening campaign after 15 months, leaving the rate at 5.25%. However, the median Fed official is