The US dollar remained near three-week lows as Federal Reserve Chair Jerome Powell adopted a cautious stance during his testimony to Congress, highlighting the need for “greater confidence” in declining inflation before considering a rate cut. Powell acknowledged the cooling labor market, but the upcoming Consumer Price Index (CPI) report …

Asian stock markets remained largely rangebound on Wednesday, as investors digested mixed inflation figures from China and Japan, while closely monitoring Federal Reserve Chair Jerome Powell’s testimony for clues on potential interest rate cuts. Key Takeaways: Mixed Inflation Data: Japanese producer price index (PPI) inflation rose slightly in June, but …

Oil, Crude, trading

japanese-yen

Oil, Crude, trading

As anticipated, US crude oil futures experienced a significant decline, reaching our initial bearish target of 81.60 and currently trading around $81.15 per barrel. The technical outlook suggests the potential for further downside movement. Key Technical Signals: Psychological Support Breakdown: A break below the psychological support level of 82.00 would …

Gold prices nearly reached our previously identified target of 2374, peaking at $2371 per ounce. While a minor pullback occurred due to overbought conditions, the technical outlook remains bullish. Key Technical Signals: Support Holds: The 2350 support level successfully contained the recent bearish pullback.Upward Rebound: The 4-hour chart reveals an …

The EUR/USD pair has been trading within a narrow range, confined between the support level of 1.0800 and the pivotal resistance at 1.0840. Technical analysis indicates a potential for a bullish breakout, but caution is warranted. Key Technical Signals: Support Level: The pair has found solid support near the psychological …

The U.S. dollar remained near a three-week low on Wednesday, despite slight gains, as Federal Reserve Chair Jerome Powell’s cautious tone in his testimony to Congress tempered risk sentiment. Meanwhile, the New Zealand dollar weakened on the prospect of a rate cut. Powell’s Testimony and Market Reaction In his first …

U.S. stock index futures climbed on Tuesday as market optimism regarding a potential interest rate cut in September continued to build, ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress. In early morning trading, Dow Jones Futures rose, S&P 500 Futures gained, and Nasdaq 100 Futures advanced. The S&P …