AUD/USD Rebound Takes Shape Ahead of Australia Employment Report
Fresh data prints coming out of Australia may fuel a larger rebound in AUD/USD as employment is expected to increase for six consecutive months.
Fresh data prints coming out of Australia may fuel a larger rebound in AUD/USD as employment is expected to increase for six consecutive months.
The Nasdaq 100 rebounds after Monday’s disappointing performance, but the tech index remains in a bear market, a condition that may limit its appeal among technical traders in the short term.
Bank of England rate hike odds stagnate while the market has dragged forward expectations for the European Central Bank.
GBP/USD soars on Tuesday and notches its largest one day increase since October 2020, supported by broad-based U.S. dollar weakness and strong UK employment data.
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April retail sales grow at a healthy monthly pace of 0.9%, suggesting that consumer spending remains brisk despite high inflation. S&P 500 futures hold gains after the report is released.
European equities followed Asian stocks higher on positive news relating to China’s lockdowns, but the reprieve appears temporary as tightening monetary policy continues
AUD advances on the back of hawkish RBA minutes while Australia’s key trading partner China, progresses on their recently damaging COVID-19 condition.
Gold is keeping hold of yesterday’s gains but is struggling to push further ahead as bearish technical headwinds continue to blow.
GBP/USD pushed higher this morning after solid UK employment numbers ahead of tomorrows UK inflation print.