Category: Yesterday
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Dollar push and pull yesterday but didn’t move a whole lot in the end
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In case you missed the headlines: Inflation numbers were higher than expected while initial jobless claims also jumped, with little hurricane-related impact noted. The dollar made gains on the back of this, but they were quickly erased. That’s before Bostic came in to lift the dollar again ahead of another…
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USD/JPY erases the advance from yesterday to start the session
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USD/JPY Hourly Chart The high was reached earlier today around 147.20 and also tested the overnight high. The sellers held on and since then, the traffic has been one-way now as we enter European morning trading. The USD/JPY pair has returned to the downside to around 146.00, although the buyers…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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USD/JPY volatility stays in focus after the bounce yesterday
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USD/JPY Daily Chart Yesterday’s low was touched at 151.93 and this was similar to the May low before it recovered. The decline failed to test the 200-day moving average (blue line), which we currently see at 151.58. But the sellers are still in control as the price has already dropped…
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House Democratic leader Jeffries met with Biden yesterday. The read-out isn’t glowing
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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NASDAQ index bounces back strongly.The selling could not extend below key target yesterday
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Nasdaq pulls away from 50-hour moving average The Nasdaq has made a quick recovery today and is currently trading up about 200 points or 1.08%. The highs have just reached 18486.45. As shown in yesterday’s video (“What Might Make the Nasdaq Fall Today and In the Future”), yesterday’s low broke…
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What now after the US CPI and Fed showdown yesterday?
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It certainly did not disappoint. It was very similar to poker, where the flop (CPI report) is shown first. Then we moved to the bend (dot charts) and finally the river (McCoy Powell). Overall, it ended up being a push and pull by the time we wrapped things up yesterday.…
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Atlanta Fed GDPNow growth estimate for Q2 rises to 3.1% versus 2.8% yesterday
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The Atlanta Fed’s GDP growth estimate for the second quarter rose to 3.1% from 2.8% yesterday. In their own words: The GDP model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.1 percent on June 7, up from 2.6 percent on June…