Daily Market Outlook, July 14, 2023Munnelly’s Market Commentary… Asian equity markets were mostly positive in overnight trading following a favourable performance on Wall Street. Yields continued to...
USDCHF H4 | Bearish continuation towards 1st support before bouncing off
TitleUSDCHF H4 | Bearish continuation towards 1st support before bouncing offTypeBearish continuationPreference:Price is approaching our pivot point at 0.8526, which is at the 100% fibo projection...
GBPJPY H4 | Bearish reversal from 38.2% Fibo
TitleGBPJPY H4 | Bearish reversal from 38.2% FiboTypeBearish ReversalPreference:Price is rising towards the pivot point of 181.417 and could potentially reverse from here; we could see momentum carry...
GBP Rallies As UK GDP Dips Less Than Forecasted
GDP Dips in May… But Less Than ExpectedThe latest set of UK economic data today was a mixed bag. On the headline GDP reading, the UK economy was seen contracting in May, falling 0.1% against the prior...
USDJPY Plunges On Fresh US Inflation Fall
US CPI Falls AgainThe US Dollar has come under heavy selling pressure today on the back of yesterday’s US inflation data. On the yearly figure, CPI was seen cooling to 3% from 4% prior, below the 3%...
The US June CPI Strips Dollar of any Support as Odds of a Hawkish Fed Outcome Plummet
The US June CPI report left the dollar entirely defenseless, causing the US currency index to plummet to nearly 100 level:As seen in the chart, this is the lowest level since April 2022, meaning the...
BOC Meeting Opens Up Bearish NZDCAD Risks
BOC Up NextThe Bank of Canada meeting today is drawing plenty of attention with the BOC widely expected to hike rates by a further .25% on the back of last month’s unexpected rate hike. The BOC...
Daily Market Outlook, July 12, 2023
Daily Market Outlook, July 12, 2023Munnelly’s Market Commentary… Asian equity markets exhibited a mixed performance as investors maintained caution ahead of the release of key US inflation data. The...
RBNZ Pauses After 12 Consecutive Hikes
RBNZ Holds Rates SteadyFollowing 12 straight months of rate hikes, the RBNZ held monetary policy unchanged at the July MPR overnight. Sitting at 5.5%, the RBNZ noted that policy would remain unchanged...
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