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DXY: The current momentum of DXY is bullish, supported by several factors, including its position above a major ascending trend line, indicating potential for further upward movement. There’s a possibility of a bullish bounce off the 1st support level, leading to a move towards the 1st resistance level. The 1st support level is identified at […]

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20/08/2024

Canadian Inflation Eases Further Towards BoC’s Target

Headline CPI inflation edged lower in July to 2.5% year-on-year (y/y), right on consensus expectations. This was the lowest reading since March 2021. The deceleration was driven by base year effects (lower price growth relative to last July) for items like travel tours (-2.8% y/y), passenger vehicles (-1.4% y/y) and electricity (-0.8% y/y). Offsetting this […]
23/08/2024

Gold Outlook: Near Term Tone Firmed Ahead of Key Event – Powell’s Speech in Jackson Hole

Gold regained traction and bounced on Friday, reversing so far around a half on Thursday’s 1.1% drop, which broke and closed below psychological $2500 level. Top of the former range at $2480 zone performed as solid support and contained dip, which also closed above rising 10DMA, adding to idea that deeper pullback was just positioning […]
02/08/2024

Week Ahead – RBA and BoJ Summary of Opinions Take Center Stage

RBA decides on policy as hike bets disappear BoJ Summary of Opinions awaited for more hike hints After Fed, dollar turns to ISM non-mfg PMI New Zealand and Canada jobs data also on tap Will the RBA turn dovish? Following the BoJ, the Fed, and the BoE decisions this week, the central bank torch will […]