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SPX500 Impulse To End Towards $5K
The current markup of the SPX500 index shows the continuation of a large impulse consisting of sub-waves I-II-III-IV-V.
Intraday Analysis – USD Continues To Bounce
The US dollar inched higher after the St. Louis Fed president called for another half-point hike.
Is The Tech Rally Nearly Over?
Investors have been piling into safe-havens lately, with growing worries over how the US debt ceiling issue will be resolved. A couple of large tech firms, Meta and Nvidia, have doubled their share price since the start of the year.
Alibaba Bearish Trend Continues!
We talked about Alibaba shares about a month ago where we saw a bearish trend was forming.
Intraday Analysis – JPY Still Under Pressure
Improved risk appetite continues to depress the Japanese yen. Sentiment has remained upbeat after EURJPY bounced off the 30-day SMA (146.50).
The Week Ahead – Risk On
Cable retreats as weaker UK economic data ease the pressure to raise interest rates.
Intraday Analysis – JPY Sinks Further
The Japanese yen recouped some losses after a jump in April’s CPI. A close above the double top (137.60) on the daily chart signals a comeback of the dollar and could pave the way for an extension towards 142.00.
Intraday Analysis – WTI Tries To Gain Foothold
The New Zealand dollar grinds higher thanks to an uptick in the market’s risk appetite. WTI rallied after the IEA expressed optimism about demand in the second half of the year. The FTSE 100 edges lower on downbeat reports from blue-chip companies.
Signs The BOJ Could End YCC
BOJ Governor Kazuo Ueda has repeatedly said that there are no changes to monetary policy planned for now, but the data line up is showing a different picture.
$70/Bbl Floor For Crude? US To Start Buying Oil
The roller-coaster ride for crude might be coming to an end, after the White House confirmed yesterday it would start replenishing the SPR as soon as June.
Intraday Analysis – Gold Tests Key Floor
The pound softened after a rise in the UK jobless rate over the past 3 months. The Loonie saw some support after inflation unexpectedly rose in April. Gold slipped after Richmond Fed President Barkin’s comment for more rate hikes lifted the dollar.
US Retail Sales And The End Of The Pause
Over the last few days, expectations that the Fed won’t pause at the next meeting have been creeping up.
Intraday Analysis – USD Consolidates Recent Gains
The US dollar consolidates amid worries about the debt ceiling stalemate. The euro’s drop below 1.0940 has led short-term buyers to liquidate their positions, while the Australian dollar recouped some losses after hawkish RBA meeting minutes.
UK Employment Might Be The Catalyst Needed For The BoE
After a string of positive results that have failed to energize the pound over the last few trading days, investors might be hoping for some upside in the cable from the jobs numbers to be released tomorrow.
Intraday Analysis – USD Bounces Back Yet Again
The US dollar bounces higher as signs of a slowing economy fuel demand for a safer currency.
US Debt Ceiling Meeting Postponed, And That’s Good News?
US President Joe Biden was scheduled to meet again today with congressional leaders to talk about resolving the debt ceiling.
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