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<p>AUD/CAD Long-Term Trend: Bearish Key Resistance Levels: 0.89003, 0.89339, 0.89800 Key Support Levels: 0.88508, 0.88122, 0.87858 Daily Chart: The price on the higher time frame has been in a downtrend recently after it faced resistance at a major level of 0.90293 and reversed. The pair has broken a support level of 0.88996 which suggests fu

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Stronger USD Weighing on CopperCopper prices remain under pressure into the middle of the week as a combination of a stronger US Dollar and weaker data out of China weigh on trader sentiment.  With the Fed pushing back against those calling for imminent US rate cuts, USD is seeing decent demand currently. Comments from Fed’s […]

TitleEURGBP H4 | Bullish breakoutTypeBullish BreakoutPreference:EURGBP is rising towards the pivot point at 0.862, the pullback resistance. It might break out of pivot point and continue to rise to the 1st resistance at 0.86472, the overlap resistance aligning with the 50% Fibonacci retracement level.Alternative scenario:The price might reverse and

Daily Market Outlook, January 17, 2024Munnelly’s Market Minute…“UK Inflation Uptick Sees Sterling Higher”Asian stocks were under pressure due to the recent rise in yields and reduced expectations of Fed rate cuts. The Nikkei 225 initially rose due to a weaker currency but later dropped from three-decade highs as it succumbed to the risk-off sentime

UK CPI RisesUK stocks have come under heavy selling pressure over early European trading on Wednesday. While the market has been in corrective mode since the late December highs, selling was amplified on Wednesday as traders reacted to the latest UK inflation data. Annualised headline CPI was seen rising back up to 4% last month […]

Waller Says Fed Relaxed on Rate Cut TimingThe US Dollar continues to make ground across early 2024 trading as Fed members pushback against those calling for imminent rate cuts in the US. Speaking yesterday, Fed’s Waller reiterated comments made by chairman Powell in December noting that, while rate cuts were likely this year, the Fed […]

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