Article by IG Chief Market Analyst Chris BeauchampDAX, Dow Jones, Nikkei Analysis and ChartsDax surges to new intraday highThe index was given fresh strength by a dovish ECB meeting yesterday. European indices enjoyed a solid session, which may well have given them the strength to move higher over the medium term. It seems the index’s
Weekly Columns & Special Reports
AUD/USD ANALYSIS & TALKING POINTSAUD/USD down 1.10% thus far today.US core PCE to dominate headlines as USD rallies.Neckline in focus for bears. AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar continues its depreciation against the US dollar this Friday morning as fundamental divergence between the two regions supplement the move. Yesterday’s robust US GDP & durable goods
Gold Price (XAU/USD) Analysis, Price, and ChartStrong US economic data send gold spinning lower.Friday’s Core PCE data will be key for gold going into the weekend. Gold has given back $25+ today after the latest batch of US data showed the American economy in rude health. Durable goods m/m beat expectations by a wide margin
SECOND-QUARTER USD GDP KEY POINTS:The U.S. economy grew at an annualized rate of 2.4% in the second quarter, well ahead of expectations of 1.8%Personal consumption expenditures, the main driver of economic activity, decelerated to 1.6%, but remained elevated by historical standardsBetter-than-expected data pushed U.S. Treasury yields higher, boosting the U.S. dollar Most Read: Fed Hikes
ECB RATE DECISION:25bps Hike by the European Central Bank, Leaving the Door Ajar for September.Data Dependent Approach Appears to be the Way Forward but the Central Bank Fears Stubborn Inflation.The APP Portfolio is Declining at a Measured and Predictable Pace.EUR/USD Remains Bullish Above the 1.0840 Handle and EUR/GBP Faces Key Resistance Around the 0.8700 Handle.To
Article by IG Chief Market Analyst Chris BeauchampS&P 500, Nasdaq 100, CAC40 Prices, Analysis, and ChartsS&P 500 hits new 2023 highThe index has surged to a new high for the year, and its highest level since April 2022.The Fed decision last night gave space for the dollar to weaken and equities to rally, and the
US Dollar (DXY) AnalysisUSD barely budges after the FOMC announcement as traders require more convincing around another rate hike. Dollar weakness seen this morning ahead of ECBLarge speculators, hedge funds positioning suggests greater USD pessimismMajor risk events: US Q2 GDP and PCE inflation dataThe analysis in this article makes use of chart patterns and key