The US Dollar gravitated to higher ground again today as markets watch Treasury yields march north and Japanese officials stand aside. Will the USD (DXY) index make a new peak?
USD/JPY may face a larger pullback over the coming days as the Relative Strength Index (RSI) falls back from overbought territory.
The Nasdaq 100 extended gains on Monday ahead of Tuesday’s earnings from Microsoft and Alphabet. Quarterly results from these mega-caps could set the trading tone for the tech sector.
The recovery effort from the S&P 500 and risk assets to start the week seems to have fallen apart these past two sessions. With a docket next week that includes US GDP, FAANG earnings and the ECB rate decision commitment may be hard to generate. However, volatility for the likes of USDJPY and GBPUSD is still very much possible.
Traders are looking to major tech earnings later this week for a catalyst as the Fed goes dark ahead of the November meeting.
German Dax turns positive amid increased speculation that a potential Fed pivot could be nearby. Can Dax clear 13,000 ahead of this week’s ECB rate decision?
U.S. business activity worsened in October on weaker demand conditions, a sign that the economy may be headed for a recession, which could prompt the Fed to abandon its ultra-hawkish stance.
Bitcoin and Ethereum are trading slightly lower as price action remains conflicted in a narrow range. Question remains, can cryptocurrency break free?
Terrible PMI data overshadows news that Rishi Sunak could be announced as the new prime minister at 14:00 (UK time). Weaker pound fails to lift UK equites
Earnings announcements are a key driver for stock prices: Learn the what and when of earnings.
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