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.-rdsn-header__languages{position:absolute;top:48px;z-index:10;display:none;width:216px}[dir] .-rdsn-header__languages{padding:8px 0;background:#fff;border-radius:8px;-webkit-box-shadow:0 3px 3px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 8px rgba(0,0,0,.2);box-shadow:0 3px 3px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 8px rgba(0,0,0,.2)}[dir=ltr] .-rdsn-header__languages{right:0}[dir=rtl] .-rdsn-header__languages{left:0}.-rdsn-header__languages:after{position:absolute;top:-56px;z-index:-1;width:100%;height:56px;content:""}[dir=ltr] .-rdsn-header__languages:after{right:0;left:0;padding-right:10px}[dir=rtl] .-rdsn-header__languages:after{left:0;right:0;padding-left:10px}.-rdsn-header__languages_opened{display:block}.-rdsn-header__languages-item{display:-webkit-box;display:-ms-flexbox;display:flex;height:40px;line-height:40px}[dir] .-rdsn-header__languages-item{margin-bottom:0}[dir] .-rdsn-header__languages-item_current{background-color:rgba(144,233,236,.2)}.-rdsn-header__languages-item-link{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;color:#0f1420;text-decoration:none}[dir] .-rdsn-header__languages-item-link{padding:0 16px}.-rdsn-header__languages-item-link:hover{color:#309498}.-rdsn-header__languages-item-link_key{display:inline-block;font-family:Roboto;text-transform:uppercase}[dir=ltr] .-rdsn-header__languages-item-link_key{margin-right:16px}[dir=rtl] .-rdsn-header__languages-item-link_key{margin-left:16px}.-rdsn-header__languages-item-link_text{-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1}[dir] .-rdsn-header__languages-item-link_text{text-align:center}
.-rdsn-menu-auth{display:-webkit-box;display:-ms-flexbox;display:flex;position:relative}[dir] .-rdsn-menu-auth__btn{background-image:url(/public/img-redesign/blocks/header/auth.svg);background-position:22px 8px;background-repeat:no-repeat;cursor:pointer}[dir=ltr] .-rdsn-menu-auth__btn{margin-right:24px;padding-left:48px}[dir=rtl] .-rdsn-menu-auth__btn{margin-left:24px;padding-right:48px}[dir=ltr] .-rdsn-menu-auth__btn_margin{margin-right:24px}[dir=rtl] .-rdsn-menu-auth__btn_margin{margin-left:24px}[dir] .-rdsn-menu-auth__btn_round{background-position:50% 8px;background-repeat:no-repeat;cursor:pointer}[dir] .-rdsn-menu-auth__btn:hover,[dir] .-rdsn-menu-auth__btn_round,[dir] .-rdsn-menu-auth__btn_round:hover{background-image:url(/public/img-redesign/blocks/header/auth.svg)}[dir=rtl] .-rdsn-menu-auth__btn{background-image:none;padding-right:20px}[dir=rtl] .-rdsn-menu-auth__btn:hover{background-image:none}@media only screen and (max-width:1135px){[dir=ltr] .-rdsn-menu-auth__btn{margin-right:16px}[dir=rtl] .-rdsn-menu-auth__btn{margin-left:16px}}
.-rdsn-menu{display:-webkit-box;display:-ms-flexbox;display:flex;position:relative;-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between}[dir] .-rdsn-menu{padding:24px 0 8px}@media only screen and (max-width:1135px){.-rdsn-menu{-webkit-box-align:center;-ms-flex-align:center;align-items:center}[dir] .-rdsn-menu{padding:16px 0}}.-rdsn-menu-main{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;-webkit-box-align:center;-ms-flex-align:center;align-items:center}
.-rdsn-menu-desktop{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-orient:horizontal;-webkit-box-direction:normal;-ms-flex-direction:row;flex-direction:row;-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between;-webkit-box-align:center;-ms-flex-align:center;align-items:center}@media only screen and (min-width:768px) and (max-width:1135px){.-rdsn-menu-desktop{-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1}}@media only screen and (max-width:767px){.-rdsn-menu-desktop{display:none}}.-rdsn-menu-desktop__list{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-pack:start;-ms-flex-pack:start;justify-content:flex-start;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-ms-flex-item-align:start;align-self:flex-start;height:32px;-ms-flex-wrap:wrap;flex-wrap:wrap}@media only screen and (min-width:768px) and (max-width:1135px){[dir] .-rdsn-menu-desktop__list{padding-top:13px}}
@media only screen and (min-width:1136px){[dir=ltr] .-app_locale_es .-rdsn-menu-desktop-item,[dir=ltr] .-app_locale_pt .-rdsn-menu-desktop-item,[dir=ltr] .-app_locale_vi .-rdsn-menu-desktop-item,[dir=rtl] .-app_locale_es .-rdsn-menu-desktop-item,[dir=rtl] .-app_locale_pt .-rdsn-menu-desktop-item,[dir=rtl] .-app_locale_vi .-rdsn-menu-desktop-item{padding-left:10px;padding-right:10px}}.-rdsn-menu-desktop-item{position:relative;font-weight:500;font-size:14px;line-height:16px;letter-spacing:.75px;text-transform:uppercase;-webkit-box-align:center;-ms-flex-align:center;align-items:center;display:-webkit-box;display:-ms-flexbox;display:flex}[dir] .-rdsn-menu-desktop-item{padding:8px 20px 16px}[dir=rtl] .-rdsn-menu-desktop-item{font-size:18px;line-height:20px}@media only screen and (min-width:768px) and (max-width:1135px){[dir] .-rdsn-menu-desktop-item{padding:8px 16px 16px}.-rdsn-menu-desktop-item:nth-last-child(-n+5){display:none}}[dir] .-rdsn-menu-desktop-item_active{border-bottom:none}.-rdsn-menu-desktop-item__caption{color:#656970;text-decoration:none}.-rdsn-menu-desktop-item:hover,.-rdsn-menu-desktop-item_active-root{position:relative}.-rdsn-menu-desktop-item:hover:after,.-rdsn-menu-desktop-item_active-root:after{position:absolute;content:"";height:2px;bottom:8px}[dir=ltr] .-rdsn-menu-desktop-item:hover:after,[dir=ltr] .-rdsn-menu-desktop-item_active-root:after,[dir=rtl] .-rdsn-menu-desktop-item:hover:after,[dir=rtl] .-rdsn-menu-desktop-item_active-root:after{left:0;right:0}.-rdsn-menu-desktop-item:hover .-rdsn-menu-desktop-item__caption,.-rdsn-menu-desktop-item_active-root .-rdsn-menu-desktop-item__caption{color:#0f1420}[dir] .-rdsn-menu-desktop-item:hover:after{background-color:#cfd0d2}[dir] .-rdsn-menu-desktop-item_active-root:after{background-color:#82af1e}.-rdsn-menu-desktop-item__name{white-space:nowrap}
.-rdsn-menu-desktop-child{top:16px;position:absolute;z-index:100}[dir] .-rdsn-menu-desktop-child{margin-top:24px}.-rdsn-menu-desktop-child__inner{width:752px}[dir] .-rdsn-menu-desktop-child__inner{padding:22px 0 0;-webkit-box-shadow:0 2px 4px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 5px rgba(0,0,0,.2);box-shadow:0 2px 4px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 5px rgba(0,0,0,.2);border-radius:8px;background:#fff}.-rdsn-menu-desktop-child__lists{position:relative;-webkit-box-pack:start;-ms-flex-pack:start;justify-content:flex-start;display:-webkit-box;display:-ms-flexbox;display:flex}[dir] .-rdsn-menu-desktop-child__lists{border-radius:8px}[dir=ltr] .-rdsn-menu-desktop-child__lists{padding:0 60px 25px 96px}[dir=rtl] .-rdsn-menu-desktop-child__lists{padding:0 96px 25px 60px}.-rdsn-menu-desktop-child__list{width:100%}[dir] .-rdsn-menu-desktop-child__list{margin:0}.-rdsn-menu-desktop-child__list:after{content:"";position:absolute;width:1px;top:10px;bottom:30px}[dir] .-rdsn-menu-desktop-child__list:after{background-color:#cfd0d2}[dir=ltr] .-rdsn-menu-desktop-child__list:after{left:50%}[dir=rtl] .-rdsn-menu-desktop-child__list:after{right:50%}[dir=ltr] .-rdsn-menu-desktop-child__list:nth-child(2n){padding-left:119px}[dir=rtl] .-rdsn-menu-desktop-child__list:nth-child(2n){padding-right:119px}.-rdsn-menu-desktop-child__list-item{color:#309498;text-transform:none;line-height:40px;white-space:nowrap}[dir] .-rdsn-menu-desktop-child__list-item{margin-bottom:0}
@-webkit-keyframes move-ltr{0%{right:-320px}to{right:0}}@keyframes move-ltr{0%{right:-320px}to{right:0}}@-webkit-keyframes move-rtl{0%{right:-320px}to{right:0}}@keyframes move-rtl{0%{left:-320px}to{left:0}}.container-enter-active,.container-leave-active{-webkit-transition:all .2s;transition:all .2s}[dir=ltr] .move-enter-active{-webkit-animation:move-ltr .2s forwards;animation:move-ltr .2s forwards}.move-enter-active [dir=rtl],[dir=rtl] .move-enter-active{-webkit-animation:move-rtl .2s forwards;animation:move-rtl .2s forwards}[dir=ltr] .move-leave-active{animation:move-ltr .2s reverse}.move-leave-active [dir=rtl],[dir=rtl] .move-leave-active{animation:move-rtl .2s reverse}.shadow-enter-active,.shadow-leave-active{-webkit-transition:opacity .2s;transition:opacity .2s}.shadow-enter,.shadow-leave-to{opacity:0}.-rdsn-menu-tabmob{top:0;position:fixed;width:100%;height:100%;z-index:100;overflow-x:auto}[dir=ltr] .-rdsn-menu-tabmob{left:0}[dir=rtl] .-rdsn-menu-tabmob{right:0}.-rdsn-menu-tabmob__shadow{position:fixed;width:100%;height:100vh}[dir] .-rdsn-menu-tabmob__shadow{background-color:rgba(34,35,43,.6)}.-rdsn-menu-tabmob__aside{position:absolute;width:320px;min-height:100%}[dir] .-rdsn-menu-tabmob__aside{background-color:#fff}[dir=ltr] .-rdsn-menu-tabmob__aside{right:0}[dir=rtl] .-rdsn-menu-tabmob__aside{left:0}@media only screen and (max-width:767px){.-rdsn-menu-tabmob__aside{width:280px}}.-rdsn-menu-tabmob__close{width:100%}[dir] .-rdsn-menu-tabmob__close{padding:24px 16px;background:#fff}.-rdsn-menu-tabmob__close:after{content:"";width:16px;height:16px;display:inline-block;vertical-align:middle}[dir=ltr] .-rdsn-menu-tabmob__close:after{background:url(/public/img-redesign/blocks/header/close.svg) 0 0 no-repeat}[dir=rtl] .-rdsn-menu-tabmob__close:after{background:url(/public/img-redesign/blocks/header/close.svg) 100% 0 no-repeat}.-rdsn-menu-tabmob__list{width:100%;z-index:10;display:block}[dir] .-rdsn-menu-tabmob__list{padding:0;background:#fff}[dir=ltr] .-rdsn-menu-tabmob__list{margin-right:48px;left:0}[dir=rtl] .-rdsn-menu-tabmob__list{margin-left:48px;right:0}.-rdsn-menu-tabmob__banner{width:100%;display:block}[dir] .-rdsn-menu-tabmob__banner{margin:32px auto;text-align:center}
.-rdsn-menu-tabmob-item{position:relative;text-transform:uppercase;letter-spacing:.4px;color:#309498;font-size:14px;line-height:55px}[dir] .-rdsn-menu-tabmob-item{margin:0;border-bottom:1px solid #cfd0d2;background:#fff}[dir=ltr] .-rdsn-menu-tabmob-item{padding:0 32px 0 0}[dir=rtl] .-rdsn-menu-tabmob-item{padding:0 0 0 32px;font-size:18px}[dir] .-rdsn-menu-tabmob-item:first-child{border-top:1px solid #cfd0d2}.-rdsn-menu-tabmob-item:after{content:"";width:8px;height:8px;position:absolute;top:24px;-webkit-transition:.2s;transition:.2s}[dir] .-rdsn-menu-tabmob-item:after{background:url(/public/img-redesign/blocks/menu/arrow-down.svg)}[dir=ltr] .-rdsn-menu-tabmob-item:after{right:16px}[dir=rtl] .-rdsn-menu-tabmob-item:after{left:16px}[dir] .-rdsn-menu-tabmob-item_active{border-bottom:none;padding:0}.-rdsn-menu-tabmob-item_active:after{content:"";display:block;-webkit-transition:.2s;transition:.2s}[dir=ltr] .-rdsn-menu-tabmob-item_active:after{-webkit-transform:rotate(180deg);transform:rotate(180deg)}[dir=rtl] .-rdsn-menu-tabmob-item_active:after{-webkit-transform:rotate(-180deg);transform:rotate(-180deg)}.-rdsn-menu-tabmob-item_active .-rdsn-menu-tabmob-item__caption{color:#3b3c3c}.-rdsn-menu-tabmob-item__name{white-space:nowrap}[dir=ltr] .-rdsn-menu-tabmob-item__name{padding-left:16px}[dir=rtl] .-rdsn-menu-tabmob-item__name{padding-right:16px}.-rdsn-menu-tabmob-item__caption{color:#0f1420;text-decoration:none;width:0}.-rdsn-menu-tabmob-item_hasnt-child:after{display:none}
[dir] .-rdsn-menu-tabmob-child{border-top:1px solid #cfd0d2}.-rdsn-menu-tabmob-child__headline{display:block;font-size:14px;line-height:33px}[dir] .-rdsn-menu-tabmob-child__headline{margin-bottom:-8px!important}[dir] .-rdsn-menu-tabmob-child__inner{padding:8px 16px 16px;background:#f6f8f8}[dir=ltr] .-rdsn-menu-tabmob-child__lists{padding:16px 0 0 8px}[dir=rtl] .-rdsn-menu-tabmob-child__lists{padding:16px 8px 0 0}.-rdsn-menu-tabmob-child__list-item{color:#309498;font-size:14px;line-height:40px;text-transform:none}
.-rdsn-breadcrumb{font-size:14px;line-height:24px}[dir] .-rdsn-breadcrumb{padding:8px 20px}[dir=rtl] .-rdsn-breadcrumb{font-size:16px}@media only screen and (max-width:1135px){[dir] .-rdsn-breadcrumb{padding:8px}}.-rdsn-breadcrumb__item{display:inline-block}.-rdsn-breadcrumb__item:after{content:"/"}[dir] .-rdsn-breadcrumb__item:after{margin:0 5px}.-rdsn-breadcrumb__item:last-child:after{display:none}
.analytics__common-categories-list{display:-webkit-box;display:-ms-flexbox;display:flex;max-width:1136px;position:relative;overflow-y:auto}.analytics__common-categories-list:before{display:block;height:2px;width:100%;position:absolute;content:"";bottom:0}[dir] .analytics__common-categories-list:before{background-color:#e2e3e4}.analytics__common-categories-list__item{z-index:1}
.analytics__common-categories-list-item{color:#656970;text-decoration:none;font-weight:500;font-size:14px;line-height:24px;letter-spacing:.05em;text-transform:uppercase;-ms-flex-negative:0;flex-shrink:0}[dir] .analytics__common-categories-list-item{padding:4px 16px;border-bottom:2px solid #e2e3e4}.analytics__common-categories-list-item:hover,.analytics__common-categories-list-item_active{color:#0f1420}[dir] .analytics__common-categories-list-item:hover,[dir] .analytics__common-categories-list-item_active{border-bottom:2px solid #82af1e}
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#web-messenger-container{bottom:2px!important}[dir=ltr] #web-messenger-container{right:2px!important}[dir=rtl] #web-messenger-container{left:2px!important;right:inherit}.-rdsn-chat-widget{position:fixed;bottom:0;z-index:10000;width:100%}.-rdsn-chat-widget__button{position:absolute;bottom:16px;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-negative:0;flex-shrink:0;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;width:72px;height:72px;outline:none}[dir] .-rdsn-chat-widget__button{border-radius:50%;cursor:pointer;background-color:#fff;border:none;-webkit-box-shadow:0 3px 3px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 8px rgba(0,0,0,.2);box-shadow:0 3px 3px rgba(0,0,0,.14),0 3px 4px rgba(0,0,0,.12),0 1px 8px rgba(0,0,0,.2)}[dir=ltr] .-rdsn-chat-widget__button{right:16px}[dir=rtl] .-rdsn-chat-widget__button{left:16px}.-rdsn-chat-widget__button:hover>svg{fill:#95c823}.-rdsn-chat-widget__button:active>svg{fill:#8fbf21}@media only screen and (max-width:767px){.-rdsn-chat-widget__button{width:56px;height:56px;bottom:16px}[dir=ltr] .-rdsn-chat-widget__button{right:16px}[dir=rtl] .-rdsn-chat-widget__button{left:16px}.-rdsn-chat-widget__button>svg{width:40px;height:40px}}.-rdsn-chat-widget__icon-list{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-orient:vertical;-webkit-box-direction:normal;-ms-flex-direction:column;flex-direction:column;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between;position:absolute;bottom:16px;z-index:101;opacity:0;height:0;width:72px;-webkit-transition:height .3s,opacity .2s;transition:height .3s,opacity .2s}[dir] .-rdsn-chat-widget__icon-list{background-color:#fff;border-radius:36px;-webkit-box-shadow:0 9px 12px rgba(0,0,0,.14),0 3px 16px rgba(0,0,0,.12),0 5px 6px rgba(0,0,0,.2);box-shadow:0 9px 12px rgba(0,0,0,.14),0 3px 16px rgba(0,0,0,.12),0 5px 6px rgba(0,0,0,.2)}[dir=ltr] .-rdsn-chat-widget__icon-list{right:16px}[dir=rtl] .-rdsn-chat-widget__icon-list{left:16px}.-rdsn-chat-widget__icon-list-show{opacity:1}@media only screen and (max-width:767px){.-rdsn-chat-widget__icon-list{width:56px}}.-rdsn-chat-widget__icon{width:56px;height:56px;outline:none;display:-webkit-box;display:-ms-flexbox;display:flex;-ms-flex-negative:0;flex-shrink:0;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center}[dir] .-rdsn-chat-widget__icon{cursor:pointer;border:none;border-radius:50%}[dir] .-rdsn-chat-widget__icon:first-child{margin-top:8px}[dir] .-rdsn-chat-widget__icon:last-child{margin-bottom:8px;margin-top:20px}@media only screen and (max-width:767px){[dir] .-rdsn-chat-widget__icon:last-child{margin-top:12px}}.-rdsn-chat-widget__icon:last-child:hover>svg{fill:#d1d100}.-rdsn-chat-widget__icon:last-child:active>svg{fill:#c9c900}.-rdsn-chat-widget__icon:hover>svg{fill:#95c823}.-rdsn-chat-widget__icon:active>svg{fill:#8fbf21}@media only screen and (max-width:767px){.-rdsn-chat-widget__icon{width:40px;height:40px}}.-rdsn-footer_with-notice+.-rdsn-chat-widget{bottom:40px}@media only screen and (min-width:768px) and (max-width:1135px){.-rdsn-footer_with-notice+.-rdsn-chat-widget{bottom:64px}}@media only screen and (max-width:767px){.-rdsn-footer_with-notice+.-rdsn-chat-widget{bottom:148px}}
.-rdsn-international-redirect-popup .-rdsn-popup__width{max-width:640px}.-rdsn-international-redirect-popup__info a{color:#309498;text-decoration:none}.-rdsn-international-redirect-popup__info a:hover{color:#5d8386}.-rdsn-international-redirect-popup__info a:active{color:#62b365}.-rdsn-international-redirect-popup__info strong{font-weight:700}.-rdsn-international-redirect-popup__buttons{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between;-webkit-box-align:start;-ms-flex-align:start;align-items:flex-start}[dir] .-rdsn-international-redirect-popup__buttons{margin-top:32px}
.-body-overflow-disable{overflow:hidden}.-rdsn-popup{position:fixed!important;top:0;z-index:501;width:100%;height:100%}[dir] .-rdsn-popup{background:rgba(15,20,32,.5)}[dir=ltr] .-rdsn-popup{left:0}[dir=rtl] .-rdsn-popup{right:0}.-rdsn-popup__wrapper{display:-webkit-box!important;display:-ms-flexbox!important;display:flex!important;-webkit-box-align:start;-ms-flex-align:start;align-items:flex-start;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center}[dir] .-rdsn-popup__wrapper{padding:0!important}.-rdsn-popup__container{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;width:100%;min-height:100%}[dir] .-rdsn-popup__container{padding:80px 0}.-rdsn-popup__width{max-width:944px}.-rdsn-popup__bubble{position:relative;width:100%}[dir] .-rdsn-popup__bubble{padding:32px 24px;background:#fff;border-radius:8px}[dir=ltr] .-rdsn-popup__bubble,[dir=rtl] .-rdsn-popup__bubble{margin-right:56px;margin-left:56px}@media only screen and (min-width:768px) and (max-width:1135px){[dir] .-rdsn-popup__bubble{padding:24px 32px}}@media only screen and (max-width:767px){[dir] .-rdsn-popup__bubble{padding:16px}[dir=ltr] .-rdsn-popup__bubble,[dir=rtl] .-rdsn-popup__bubble{margin-right:16px;margin-left:16px}}.-rdsn-popup__button-close{position:absolute;top:16px}[dir] .-rdsn-popup__button-close{cursor:pointer}[dir=ltr] .-rdsn-popup__button-close{right:16px}[dir=rtl] .-rdsn-popup__button-close{left:16px}.-rdsn-popup__button-close-svg{display:block;width:24px;height:24px}[dir] .-rdsn-popup__button-close-svg{border-radius:50%}[dir=ltr] .-rdsn-popup__button-close-svg{background:url(/public/img-redesign/blocks/popup/close.svg) 0 0 no-repeat}[dir=rtl] .-rdsn-popup__button-close-svg{background:url(/public/img-redesign/blocks/popup/close.svg) 100% 0 no-repeat}[dir] .-rdsn-popup__button-close-svg:hover{background-color:rgba(144,233,236,.2)}[dir] .-rdsn-popup__button-close-svg:active{background-color:rgba(144,233,236,.5)}.-rdsn-popup__title{color:#0f1420;font-weight:900;font-size:24px;line-height:32px}[dir] .-rdsn-popup__title{margin-bottom:24px}[dir=rtl] .-rdsn-popup__title{font-size:24px}@media only screen and (max-width:767px){.-rdsn-popup__title{font-size:18px;line-height:24px}[dir] .-rdsn-popup__title{margin-bottom:16px}[dir=rtl] .-rdsn-popup__title{font-size:18px}}.-rdsn-popup__text{color:#0f1420;font-size:14px}[dir] .-rdsn-popup__text{margin-bottom:32px}[dir=rtl] .-rdsn-popup__text{font-size:18px}@media only screen and (max-width:767px){.-rdsn-popup__text{font-size:14px}[dir] .-rdsn-popup__text{margin-bottom:16px}}.-rdsn-popup_hidden{display:none}</style></head>
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Friend program</a></li></ul></div></div></div></li><li class="-rdsn-menu-tabmob-item"><a href="/en/analytics/" class="-rdsn-menu-tabmob-item__caption router-link-active"><span class="-rdsn-menu-tabmob-item__name">Analysis</span></a><div class="-rdsn-menu-tabmob-child" style="display:none;"><div class="-rdsn-menu-tabmob-child__inner"><noindex><p class="-rdsn-menu-tabmob-child__headline"><a href="/en/analytics/" class="-rdsn-link router-link-active">General information</a></p></noindex><div class="-rdsn-menu-tabmob-child__lists"><ul class="-rdsn-menu-tabmob-child__list"><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/analytics/reviews/" class="-rdsn-link">Market reviews</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/analytics/calendar_fxstreet/" class="-rdsn-link">Forex economic calendar</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/analytics/market-analysis-tools/" class="-rdsn-link">Analytical tools</a></li></ul><ul 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Quality</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="https://get.alpari.help/hc/en-gb" class="-rdsn-link">Help Centre</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="https://get.alpari.help/hc/en-gb/requests/new?ticket_form_id=8745237377309&amp;tf_8740173909149=english" class="-rdsn-link">Raise Request</a></li></ul><ul class="-rdsn-menu-tabmob-child__list"><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/company/partnership/" class="-rdsn-link">Partnership programs</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/company/sponsorship/" class="-rdsn-link">Sponsorships</a></li><li class="-rdsn-menu-tabmob-child__list-item"><a href="/en/company/social-responsibility/" class="-rdsn-link">Social responsibility</a></li></ul></div></div></div></li></ul><!----></div></div></div><!----><!----></div></div></div></header><div class="-rdsn-content"><div class="-app-section -app-section_background_white"><div class="-app-section__indents"><ul itemscope="itemscope" itemtype="http://schema.org/BreadcrumbList" class="-rdsn-breadcrumb"><li itemscope="itemscope" itemprop="itemListElement" itemtype="http://schema.org/ListItem" class="-rdsn-breadcrumb__item"><a href="/en/" itemprop="item" class="-rdsn-link router-link-active"><span itemprop="name">Home page</span></a><meta itemprop="position" content="1"></li><li itemscope="itemscope" itemprop="itemListElement" itemtype="http://schema.org/ListItem" class="-rdsn-breadcrumb__item"><a href="/en/analytics/" itemprop="item" class="-rdsn-link router-link-active"><span itemprop="name">Analysis</span></a><meta itemprop="position" content="2"></li><li itemscope="itemscope" itemprop="itemListElement" itemtype="http://schema.org/ListItem" class="-rdsn-breadcrumb__item"><span itemprop="name">Market reviews</span><meta itemprop="position" content="3"></li></ul></div></div><div class="-app-section -app-section_background_white"><div class="-app-section__indents analytics--reviews"><h1 class="analytics--reviews__title">
      Market reviews
    </h1><div class="analytics__common-categories-list analytics--reviews__categories"><a href="/en/analytics/reviews/" class="analytics__common-categories-list-item analytics__common-categories-list__item router-link-exact-active router-link-active analytics__common-categories-list-item_active">
  All reviews
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  Forex
</a><a href="/en/analytics/reviews/cryptocurrencies/" class="analytics__common-categories-list-item analytics__common-categories-list__item">
  Cryptocurrencies
</a><a href="/en/analytics/reviews/commodities/" class="analytics__common-categories-list-item analytics__common-categories-list__item">
  Commodities
</a><a href="/en/analytics/reviews/securities/" class="analytics__common-categories-list-item analytics__common-categories-list__item">
  Stock market
</a><a href="/en/analytics/reviews/metals_gold_silver/" class="analytics__common-categories-list-item analytics__common-categories-list__item">
  Metals
</a></div><div class="analytics--reviews__container"><div class="analytics--reviews__content"><div class="analytics__common-cards-container-category analytics--reviews__top-reviews"><!----><h3 class="analytics__common-cards-container-category__title-special">
    All reviews
  </h3><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><div class="analytics__common-cards-card_category"><a href="/en/analytics/reviews/cryptocurrencies/" class="analytics__common-cards-card_category_link">Cryptocurrencies</a><div class="analytics__common-cards-card_category_disk" style="background-color:#bfe52e;"></div></div><a href="/en/analytics/reviews/cryptocurrencies/128591_19092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-07/bitcoin_1.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Litecoin extends technical rebound
      </h6><div class="analytics__common-cards-card_summary"><p>A higher high beyond $70.55 may send a bullish signal to traders, in what is a massive week full of major central bank policy decisions.</p>
</div><div class="analytics__common-cards-card_date"><p>
          19 September 13:20
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><div class="analytics__common-cards-card_category"><a href="/en/analytics/reviews/market_sessions/" class="analytics__common-cards-card_category_link">Forex</a><div class="analytics__common-cards-card_category_disk" style="background-color:#cf8b2b;"></div></div><a href="/en/analytics/reviews/market_sessions/128580_18092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        This week: USDJPY is trying to break above 148
      </h6><div class="analytics__common-cards-card_summary"><p>USDJPY is threatening to break above the 148.0, amid broad-based US dollar strength.</p>
</div><div class="analytics__common-cards-card_date"><p>
          18 September 06:44
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><div class="analytics__common-cards-card_category"><a href="/en/analytics/reviews/commodities/" class="analytics__common-cards-card_category_link">Commodities</a><div class="analytics__common-cards-card_category_disk" style="background-color:#1aaf20;"></div></div><a href="/en/analytics/reviews/commodities/128572_15092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        BRN surges towards $95.00 
      </h6><div class="analytics__common-cards-card_summary"><p>Oil prices rise as Saudi-Russia output curbs bite.</p>
</div><div class="analytics__common-cards-card_date"><p>
          15 September 10:00
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><div class="analytics__common-cards-card_category"><a href="/en/analytics/reviews/metals_gold_silver/" class="analytics__common-cards-card_category_link">Metals</a><div class="analytics__common-cards-card_category_disk" style="background-color:#00d1ff;"></div></div><a href="/en/analytics/reviews/metals_gold_silver/128571_15092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        XAUUSD rebounds off $1900 
      </h6><div class="analytics__common-cards-card_summary"><p>Gold has been dragged lower this week amid the mixed US CPI reading.</p>
</div><div class="analytics__common-cards-card_date"><p>
          15 September 10:00
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><div class="analytics__common-cards-card_category"><a href="/en/analytics/reviews/securities/" class="analytics__common-cards-card_category_link">Stock market</a><div class="analytics__common-cards-card_category_disk" style="background-color:#ff7dd2;"></div></div><a href="/en/analytics/reviews/securities/128559_14092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        SPX500_m still in limbo below 4500.
      </h6><div class="analytics__common-cards-card_summary"><p>Markets still uncertain about Fed’s next move following mixed US CPI data.</p>
</div><div class="analytics__common-cards-card_date"><p>
          14 September 10:06
        </p><!----></div></div></a></div></div><!----></div><noindex class="analytics--reviews__center-banner"><!----></noindex><div class="analytics__common-cards-container-category analytics--reviews__item"><h3 class="analytics__common-cards-container-category__title"><a href="/en/analytics/reviews/cryptocurrencies/" class="analytics__common-cards-container-category__link">
      Cryptocurrencies
    </a></h3><!----><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><!----><a href="/en/analytics/reviews/cryptocurrencies/128591_19092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-07/bitcoin_1.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Litecoin extends technical rebound
      </h6><div class="analytics__common-cards-card_summary"><p>A higher high beyond $70.55 may send a bullish signal to traders, in what is a massive week full of major central bank policy decisions.</p>
</div><div class="analytics__common-cards-card_date"><p>
          19 September 13:20
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/cryptocurrencies/128535_12092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Bitcoin rebounds despite “death cross”
      </h6><div class="analytics__common-cards-card_summary"><p>A “death cross” typically sends a bearish signal, indicating more price declines ahead.</p>
</div><div class="analytics__common-cards-card_date"><p>
          12 September 09:30
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/cryptocurrencies/128482_05092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Bitcoin yo-yos on ETF regulatory approval
      </h6><div class="analytics__common-cards-card_summary"><p>A spot bitcoin ETF has become the “crypto holy grail”</p>
</div><div class="analytics__common-cards-card_date"><p>
          5 September 11:32
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/cryptocurrencies/128438_29082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Bitcoin is back, just above June lows
      </h6><div class="analytics__common-cards-card_summary"><p>Bitcoin is consolidating after its sharp drop below the 200-day SMA</p>
</div><div class="analytics__common-cards-card_date"><p>
          29 August 13:16
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/cryptocurrencies/128389_22082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Bitcoin may only wake up when September ends
      </h6><div class="analytics__common-cards-card_summary"><p>Since Bitcoin’s inception in 2010, September has averaged a monthly decline of 6%.&nbsp;According to Bloomberg data, Bitcoin prices have posted a monthly drop for the past six straight Septembers.</p>
</div><div class="analytics__common-cards-card_date"><p>
          22 August 09:18
        </p><!----></div></div></a></div></div><a href="/en/analytics/reviews/cryptocurrencies/" class="analytics__common-cards-container-category__all-link">
    All reviews
  </a></div><div class="analytics__common-cards-container-category analytics--reviews__item"><h3 class="analytics__common-cards-container-category__title"><a href="/en/analytics/reviews/market_sessions/" class="analytics__common-cards-container-category__link">
      Forex
    </a></h3><!----><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><!----><a href="/en/analytics/reviews/market_sessions/128580_18092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-07/cash_1.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        This week: USDJPY is trying to break above 148
      </h6><div class="analytics__common-cards-card_summary"><p>USDJPY is threatening to break above the 148.0, amid broad-based US dollar strength.</p>
</div><div class="analytics__common-cards-card_date"><p>
          18 September 06:44
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/market_sessions/128546_13092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Can USDInd return to 2023 high closer to 106?
      </h6><div class="analytics__common-cards-card_summary"><p>Risks for today’s US CPI data are&nbsp;tilted to the upside which could boost bets on a November Fed rate hike and lift the US dollar index.</p>
</div><div class="analytics__common-cards-card_date"><p>
          13 September 10:01
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/market_sessions/128526_11092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        This week: ECB decision to weigh on EURUSD
      </h6><div class="analytics__common-cards-card_summary"><p>EUR/USD broke down through the 200-day SMA, ahead of too-close-to-call central bank policy meeting.</p>
</div><div class="analytics__common-cards-card_date"><p>
          11 September 07:39
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/market_sessions/128497_06092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        USDJPY: Bullish momentum might be building
      </h6><div class="analytics__common-cards-card_summary"><p>Three potential targets identified</p>
</div><div class="analytics__common-cards-card_date"><p>
          6 September 14:08
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/market_sessions/128474_04092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        This Week: USDCAD tests 21-preiod SMA
      </h6><div class="analytics__common-cards-card_summary"><p>Recent jump in crude prices could act as support</p>
</div><div class="analytics__common-cards-card_date"><p>
          4 September 11:55
        </p><!----></div></div></a></div></div><a href="/en/analytics/reviews/market_sessions/" class="analytics__common-cards-container-category__all-link">
    All reviews
  </a></div><div class="analytics__common-cards-container-category analytics--reviews__item"><h3 class="analytics__common-cards-container-category__title"><a href="/en/analytics/reviews/commodities/" class="analytics__common-cards-container-category__link">
      Commodities
    </a></h3><!----><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><!----><a href="/en/analytics/reviews/commodities/128572_15092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-03/commodities_desktop.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        BRN surges towards $95.00 
      </h6><div class="analytics__common-cards-card_summary"><p>Oil prices rise as Saudi-Russia output curbs bite.</p>
</div><div class="analytics__common-cards-card_date"><p>
          15 September 10:00
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/commodities/128517_08092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        BRN at $90/bbl
      </h6><div class="analytics__common-cards-card_summary"><p>BRN to reach $100/bbl?</p>
</div><div class="analytics__common-cards-card_date"><p>
          8 September 10:02
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/commodities/128464_01092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Brent is trying to hold above $85.00/bbl
      </h6><div class="analytics__common-cards-card_summary"><p>Analysts are expecting crude to average $82.45/bbl in 2023</p>
</div><div class="analytics__common-cards-card_date"><p>
          1 September 10:54
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/commodities/128422_25082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Will “golden cross” be enough to save the BRENT?
      </h6><div class="analytics__common-cards-card_summary"><p>Oil prices continue to climb away from $82.00 round number.</p>
</div><div class="analytics__common-cards-card_date"><p>
          25 August 12:39
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/commodities/128376_18082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        BRN downturn below $85.00/bbl
      </h6><div class="analytics__common-cards-card_summary"><p>After hitting a 7-month high at $87.74 last week, BRN bears have retaliated</p>
</div><div class="analytics__common-cards-card_date"><p>
          18 August 12:00
        </p><!----></div></div></a></div></div><a href="/en/analytics/reviews/commodities/" class="analytics__common-cards-container-category__all-link">
    All reviews
  </a></div><div class="analytics__common-cards-container-category analytics--reviews__item"><h3 class="analytics__common-cards-container-category__title"><a href="/en/analytics/reviews/metals_gold_silver/" class="analytics__common-cards-container-category__link">
      Metals
    </a></h3><!----><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><!----><a href="/en/analytics/reviews/metals_gold_silver/128571_15092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-03/metals_desktop_0.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        XAUUSD rebounds off $1900 
      </h6><div class="analytics__common-cards-card_summary"><p>Gold has been dragged lower this week amid the mixed US CPI reading.</p>
</div><div class="analytics__common-cards-card_date"><p>
          15 September 10:00
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/metals_gold_silver/128516_08092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Gold bulls struggle to recover above $1950
      </h6><div class="analytics__common-cards-card_summary"><p>Gold continues to trade below 50-period SMA</p>
</div><div class="analytics__common-cards-card_date"><p>
          8 September 09:52
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/metals_gold_silver/128465_01092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Gold prices have stabilised around $1940
      </h6><div class="analytics__common-cards-card_summary"><p>Bullion could remain under pressure as inflationary risks still remain. &nbsp;</p>
</div><div class="analytics__common-cards-card_date"><p>
          1 September 11:01
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/metals_gold_silver/128421_25082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Gold bulls’ last chance?
      </h6><div class="analytics__common-cards-card_summary"><p>XAUUSD – back above $1900. Focus now on Jackson Hole.</p>
</div><div class="analytics__common-cards-card_date"><p>
          25 August 12:26
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/metals_gold_silver/128375_18082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        XAUUSD struggles below $1900
      </h6><div class="analytics__common-cards-card_summary"><p>Gold continues to remain under pressure and trades below the key $1900 psychological level, hitting a five-month low at $1889.59 on Thursday</p>
</div><div class="analytics__common-cards-card_date"><p>
          18 August 12:00
        </p><!----></div></div></a></div></div><a href="/en/analytics/reviews/metals_gold_silver/" class="analytics__common-cards-container-category__all-link">
    All reviews
  </a></div><div class="analytics__common-cards-container-category analytics--reviews__item"><h3 class="analytics__common-cards-container-category__title"><a href="/en/analytics/reviews/securities/" class="analytics__common-cards-container-category__link">
      Stock market
    </a></h3><!----><div class="analytics__common-cards-container-category__body"><div class="analytics__common-cards-card analytics__common-cards-card-main" style="grid-row:1 / 3;grid-column:1 / 2;"><!----><a href="/en/analytics/reviews/securities/128559_14092023/" class="analytics__common-cards-card_link-card"><div class="analytics__common-cards-card_image" style="background-image:url(/storage/2019-03/securities_desktop.jpg);"></div><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        SPX500_m still in limbo below 4500.
      </h6><div class="analytics__common-cards-card_summary"><p>Markets still uncertain about Fed’s next move following mixed US CPI data.</p>
</div><div class="analytics__common-cards-card_date"><p>
          14 September 10:06
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/securities/128507_07092023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        UK FTSE 100 near critical levels
      </h6><div class="analytics__common-cards-card_summary"><p>Momentum indicators have turned lower</p>
</div><div class="analytics__common-cards-card_date"><p>
          7 September 11:21
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/securities/128455_31082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Benchmark US stock index back in bullish channel
      </h6><div class="analytics__common-cards-card_summary"><p>Risk markets have swung between risk-on and risk-off sentiment.</p>
</div><div class="analytics__common-cards-card_date"><p>
          31 August 12:33
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/securities/128402_23082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        Will Nvidia earnings push stock to record high?
      </h6><div class="analytics__common-cards-card_summary"><p>The options market currently predicts a single-day move of 10.4%, either up or down, for Nvidia on Thursday (August 24<sup>th</sup>) - when US markets re-open the day after this highly-anticipated earnings release.</p>
</div><div class="analytics__common-cards-card_date"><p>
          23 August 08:02
        </p><!----></div></div></a></div><div class="analytics__common-cards-card"><!----><a href="/en/analytics/reviews/securities/128374_18082023/" class="analytics__common-cards-card_link-card"><!----><div class="analytics__common-cards-card_bottom"><h6 class="analytics__common-cards-card_title">
        UK Index suffering as policy tightening looms
      </h6><div class="analytics__common-cards-card_summary"><p>Markets have baked in another 25bps rate hike</p>
</div><div class="analytics__common-cards-card_date"><p>
          18 August 10:23
        </p><!----></div></div></a></div></div><a href="/en/analytics/reviews/securities/" class="analytics__common-cards-container-category__all-link">
    All reviews
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week: USDJPY is trying to break above 148","body":{"value":"\u003Cp\u003EUSDJPY is threatening to break above the \u003Cstrong\u003E148.0\u003C\u002Fstrong\u003E psychologically-important level, amid broad-based US dollar strength.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBloomberg’s FX model forecasts a 73% chance of USDJPY trading within the \u003Cstrong\u003E145.18 – 150.18\u003C\u002Fstrong\u003E range this week.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"08fc204d-5ec2-448a-ad61-9000c1809905\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-18_USDJPYDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EMarkets are already bracing for the most volatility over a one-week period for this FX pair since July, while also becoming notably more bullish on the Yen.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EJapan’s latest CPI prints are sandwiched by pivotal policy meetings by the Federal Reserve (Fed) and the Bank of Japan (BoJ) on either side of the Pacific - all set to dictate USDJPY’s immediate fate.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, September 20\u003Csup\u003Eth\u003C\u002Fsup\u003E: Federal Reserve policy decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe Fed is widely expected to leave US interest rates unchanged at this week’s meeting. Markets will be watching for clues out of either the FOMC policy statement, and\u002For Fed Chair Jerome Powell’s press conference. Hints of one more Fed rate hike may send USDJPY soaring, barring any currency intervention by the BoJ.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 22\u003Csup\u003End\u003C\u002Fsup\u003E: Japan August national CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EEconomists predict the headline consumer price index (CPI) will ease slightly to 3% year-on-year (y\u002Fy), while core CPI (excluding fresh food and energy prices) should match July’s 4.3% y\u002Fy figure. Higher-than-expected inflation may translate into a USDJPY slump, on bets of the BoJ ending its negative rates regime sooner rather than later.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 22\u003Csup\u003End\u003C\u002Fsup\u003E: Bank of Japan policy decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EMarkets predict a measly 22% chance of a BoJ rate hike this week. However, seasoned market watchers are only too aware of this central bank’s penchant for surprises! Another tweak to its yield-curve control, or even the slightest of hawkishness out of BoJ Governor Kazuo Ueda, should serve as triggers for Yen bulls to run wild.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nHere’s comprehensive list of other key economic data and events due this week:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, September 18\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EApple set to release iOS 17\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, September 19\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAUD: RBA meeting minutes\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone August CPI (final)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: Canada August CPI\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EOECD release global economic outlook\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, September 20\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Japan August external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECNH: China loan prime rates\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August CPI\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: Fed policy meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, September 21\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENZD: New Zealand 2Q GDP\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone September consumer confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECHF: Swiss National Bank policy meeting\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: Bank of England policy meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US weekly initial jobless claims\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, September 22\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENZD: New Zealand 3Q consumer confidence; August external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EJPY: Bank of Japan policy meeting;&nbsp;\u003C\u002Fstrong\u003EAugust national CPI; September PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Australia September PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August retail sales; September consumer confidence and PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone September PMIs\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003ECAD: Canada July retail sales\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EUSDJPY is threatening to break above the 148.0, amid broad-based US dollar strength.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128580_18092023","publicationDate":{"formatted":"2023-09-18T03:44:00","timestamp":1695008640},"readingTime":"1 min","tags":[]},{"title":"Can USDInd return to 2023 high closer to 106?","body":{"value":"\u003Cp\u003EAfter Monday’s sell-off, which was the biggest in close to two months, the US dollar index has stabilised above \u003Cstrong\u003E104.50\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EUSDInd had&nbsp;found support recently around the 78.6% Fibonacci level from its peak-to-trough action between March through July.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Can USDInd return to 2023 high closer to 106?\" data-entity-type=\"file\" data-entity-uuid=\"943dbcf7-2ecd-4e99-babe-995e2edea439\" src=\"\u002Fstorage\u002Finline-images\u002FUSDIndDaily_18.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EAll eyes now turn to this week’s main event, the latest US inflation data which gets published this afternoon.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EWhile the next Fed meeting a week today is likely to see policymakers stand pat with regard to interest rates changes, the \u003Cstrong\u003ECPI figures will play a role in determining market confidence\u003C\u002Fstrong\u003E on the Fed outlook for Q4 2023, going into next year.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe “higher for longer” theme has gripped markets over the summer as the resilience of the US economy has shone through, while also \u003Cstrong\u003Ehighlighting the weakness in other areas of the global economy like in Europe and China\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003EThis has meant markets have pushed out the timing of the first rate cut and fuelled a dollar rally of late.\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EPreviously, traders were convinced that this would happen as early as March 2024, but now trying to price in a rate cut for June.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EUS CPI to send mixed signals: Headline up, core down\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EToday’s headline CPI is expected to rise \u003Cstrong\u003E0.6% m\u002Fm\u003C\u002Fstrong\u003E and \u003Cstrong\u003E3.6% y\u002Fy\u003C\u002Fstrong\u003E in \u003Cstrong\u003EAugust\u003C\u002Fstrong\u003E. \u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThat’s picking up in pace versus the 0.2% m\u002Fm and 3.2% y\u002Fy in the prior month and due to higher gasoline prices.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe core CPI is seen up 0.2% m\u002Fm, matching the prior month, with the annual rate moving down to 4.3% from 4.7% prior.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThat \u003Cstrong\u003E0.2% will be the third straight month of soft underlying price pressures\u003C\u002Fstrong\u003E which will be welcomed by the Fed.\u003Cem\u003E \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EThese small increases are needed to bring inflation back to target over time. \u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EWeakness from late 2022 has yet to show up in the figures and this has the biggest weighting in the CPI basket so will be a key focus.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003ERisks are tilted to the upside which would boost bets on a November Fed rate hike and lift the US dollar index. \u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EPotential scenarios\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe \u003Cstrong\u003E105.00 psychologically-important level\u003C\u002Fstrong\u003E is the obvious target for USD bulls (those hoping prices will move higher), with the recent cycle high of \u003Cstrong\u003E105.199\u003C\u002Fstrong\u003E lying further north.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, if the US CPI prints come in lower than expected, nullifying the need for another Fed rate hike, that may drag this USDInd below the 78.6% Fib level at 104.509.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis may invite USDInd bears to re-test the lower bound of its May\u002FJune range around \u003Cstrong\u003E103.80. &nbsp;\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ERisks for today’s US CPI data are&nbsp;tilted to the upside which could boost bets on a November Fed rate hike and lift the US dollar index.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128546_13092023","publicationDate":{"formatted":"2023-09-13T07:01:22","timestamp":1694588482},"readingTime":"3 minutes","tags":[]},{"title":"This week: ECB decision to weigh on EURUSD","body":{"value":"\u003Cp\u003EThe world’s most traded currency pair has had a nightmare summer. EUR\u002FUSD is heading for eight consecutive weeks of losses, which was last seen in 2014.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe region’s economy remains fragile while US data continues to stay resilient. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHigher oil prices and disruption to LNG supplies is also not good news for the eurozone.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"ff1c5f21-6d59-4a65-b875-a84087206614\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-11_EURUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003EOn the charts, EUR\u002FUSD broke decisively down through the 200-day simple moving average at the start of the month.\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe August low at \u003Cstrong\u003E1.0765 \u003C\u002Fstrong\u003Ewas taken out last week with prices now looking for support from the late May and early June lows just below \u003Cstrong\u003E1.07\u003C\u002Fstrong\u003E. Pressure could build further if USD\u002FCNH pushes up to the \u003Cstrong\u003E7.40\u003C\u002Fstrong\u003E zone.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, September 13\u003Csup\u003Eth\u003C\u002Fsup\u003E: US CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EInflation remains the key conundrum for the Fed as it keeps tab on a relatively robust economy with recent upside data surprises. CPI has decelerated from a peak of 9.1% in June 2022 but is expected to stick around 3% as energy keeps prices buoyant while offsetting falling shelter and food costs. Stronger data could tip the balance in favour of a November Fed rate hike and fuel more dollar gains.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EThursday, September 14\u003Csup\u003Eth\u003C\u002Fsup\u003E: ECB Meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThis meeting is a very close call with the market currently thinking there is around a 40% chance of a 25bp rate hike. The lagged effect of prior rate rises plus deteriorating economic activity argue in favour of a pause.&nbsp; But will the hawks and their fear of stopping too early win out with their concerns about high inflation trumping weaker growth?\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHere’s comprehensive list of other key economic data and events due this week:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, September 11\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EUSD: 3\u002F6 Month Bill Auction\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Industrial Output s.a. MoM\u002FYoY (Jul)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003ETuesday, September 12\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: Employment Change (Jul); Claimant Count Change (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: ZEW Survey – Economic Sentiment (Sep)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Westpac Consumer Confidence (Sep)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EWednesday, September 13\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: CPI MoM\u002FYoY (Aug); Core CPI MoM\u002FYoY (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Industrial Production s.a. MoM (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: GPD MoM (Jul); Manufacturing Production MoM\u002FYoY (Jul)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EThursday, September 14\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: US core PPI&nbsp;(Aug); Retail Sales MoM (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EEUR: ECB Interest Rate Decision;&nbsp;ECB Press Conference\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Unemployment Rate s.a. &amp; Unemployment Change (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ENZD: Business NZ PMI (Aug)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EFriday, September 15\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ECNH: Industrial Production YoY (Aug); Retail Sales YoY (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: FR &amp; IT CPI – EU norm YoY (Aug); EcoFin Meeting\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: Consumer Inflation Expectations\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US Consumer Sentiment Index (Sep); Industrial Production MoM (Aug)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EEUR\u002FUSD broke down through the 200-day SMA, ahead of too-close-to-call central bank policy meeting.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128526_11092023","publicationDate":{"formatted":"2023-09-11T04:39:00","timestamp":1694407140},"readingTime":"2 min","tags":[]},{"title":"USDJPY: Bullish momentum might be building","body":{"value":"\u003Ch3\u003E\u003Cstrong\u003ESummary\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EUSDJPY breaking above \u003Cstrong\u003E147.898\u003C\u002Fstrong\u003E may send bullish signal\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThree potential targets identified\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EIf \u003Cstrong\u003E144.360\u003C\u002Fstrong\u003E support is broken, bullish scenario becomes invalid\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ERising tops and bottoms should keep USDJPY bulls in play, pending any bearish intervention by the BOJ.&nbsp;\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"32598a96-3a14-444f-8302-35e792a6c416\" src=\"\u002Fstorage\u002Finline-images\u002FMicrosoftTeams-image_3.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs long as bulls can keep driving the upward momentum, the market sentiment for USDJPY on the D1 time frame will remain bullish.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe bulls in the USDJPY currency pair on the D1 time frame are in the process of breaking out of a ranging market. The ranging market started when the price began oscillating around a weekly support level.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA hint of continued possible bullish strength lay in the fact that the weekly support level was never properly breached by the bears, as well as the price never breaking the 34 Simple Moving Average and the Momentum Oscillator staying in bullish territory.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIf the bulls can break past the \u003Cstrong\u003E147.898\u003C\u002Fstrong\u003E price level that is located just above the last higher top that occurred on 5 September, then three targets become possible from there.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAttaching a modified Fibonacci tool to the \u003Cstrong\u003E147.898\u003C\u002Fstrong\u003E price level and dragging it to \u003Cstrong\u003E144.360\u003C\u002Fstrong\u003E, which is found just below the last bottom that happened on 1 September, the following targets can be established:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EThe first target is possible at \u003Cstrong\u003E149.843\u003C\u002Fstrong\u003E (Target 1).\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe second price target is likely at \u003Cstrong\u003E151.435\u003C\u002Fstrong\u003E (Target 2) if the bulls can reach close to the \u003Cstrong\u003E151.921\u003C\u002Fstrong\u003E weekly resistance level\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe third price target is probable at \u003Cstrong\u003E153.204\u003C\u002Fstrong\u003E (Target 3) if the bulls can properly break through the \u003Cstrong\u003E151.921\u003C\u002Fstrong\u003E weekly resistance level\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EIf the price breaks to the down side and the \u003Cstrong\u003E144.360\u003C\u002Fstrong\u003E price level at the last bottom on 1 September is broken, this scenario is no longer valid\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThree potential targets identified\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128497_06092023","publicationDate":{"formatted":"2023-09-06T11:08:00","timestamp":1693998480},"readingTime":"1 min","tags":[]},{"title":"This Week: USDCAD tests 21-preiod SMA","body":{"value":"\u003Cp\u003EThe recent downbeat risk backdrop and failing Chinese economic recovery has hurt cyclical currencies like the loonie. It was the \u003Cstrong\u003Ethird worst performing major\u003C\u002Fstrong\u003E last month after the aussie and kiwi.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ELower commodity prices in August also account for a good part of the headwinds around CAD, though the \u003Cstrong\u003Erecent jump in crude prices could act as support\u003C\u002Fstrong\u003E. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"dab53797-98b8-4370-82e8-c5d4c512e9bb\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-01_USDCADDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETechnically, USD\u002FCAD rose for seven straight weeks through July and August. Recent choppy price action hints that the rally may find it harder to advance above \u003Cstrong\u003E1.36\u003C\u002Fstrong\u003E. The April and May peaks just above \u003Cstrong\u003E1.3650\u003C\u002Fstrong\u003E act as resistance. Support sits around \u003Cstrong\u003E1.3510\u003C\u002Fstrong\u003E with the 200-day SMA at \u003Cstrong\u003E1.3461\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, September 5\u003Csup\u003Eth\u003C\u002Fsup\u003E: RBA Rate Decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EConsensus sees the RBA keeping rates unchanged at 4.10%. Data since the last meeting has been constructive with cooling price growth and a rising jobless rate. Risks still remain around the labour market and wage growth. But the bank will likely want to assess the cumulative impact of its tightening cycle.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, September 6\u003Csup\u003Eth\u003C\u002Fsup\u003E: Bank of Canada Rate Decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe Bank of Canada is expected to hold its key interest rate steady at 5% and stay at that level until the end of March 2024, according to a majority of economists in a Reuters poll. The BoC has lifted rates ten times since March 2022. The softening labour market and GDP growth are key factors in the bank standing pat.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 8\u003Csup\u003Eth\u003C\u002Fsup\u003E: Canada Employment\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe most recent jobs numbers saw the unemployment rate tick up to 5.5% while the economy unexpectedly shed jobs.&nbsp; That made it two out of the previous three months that jobs have been lost. The labour market had until then been resilient, supported in part by strong immigration. But higher borrowing costs now seem to be impacting the economy.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHere’s comprehensive list of other key economic data and events due this week:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, September 4\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECHF: GDP s.a. QoQ (Q2)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Germany’s Trade Balance s.a. (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: S&amp;P Global Composite &amp; Services PMI (Aug)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, September 5\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECNY: Caixin Services PMI (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EAUD: Interest Rate Decision &amp; RBA Rate Statement\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: EU’s producer Price Index MoM &amp; YoY (Jul); HCOB Composite &amp; Services PMI (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: Factory Orders MoM (Jul)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, September 6\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: Retail Sales YoY (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ECAD: Interest Rate Decision &amp; BoC Rate Statement\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: RBA’s Governor Lowe speech &amp; GDP QoQ &amp; YoY (Q2)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: Fed’s Beige Book\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, September 7\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EAUD: Trade Balance MoM (Jul)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECNY: Trade Balance CNY &amp; USD (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: EU’s GDP s.a. QoQ &amp; YoY (Q2)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ECAD: BoC’s Governor Macklem speech\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EJPY: GDP QoQ (Q2)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: BoE Monetary Policy Report Hearings \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, September 8\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: Harmonized Inde of Consumer Prices YoY (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ECAD: Unemployment Rate (Aug) &amp; Net Change in Employment (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: Baker Hughes US Oil Rig Count\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003ERecent jump in crude prices could act as support\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128474_04092023","publicationDate":{"formatted":"2023-09-04T08:55:00","timestamp":1693817700},"readingTime":"2 min","tags":[]},{"title":"GBPCHF: 3 potential targets identified","body":{"value":"\u003Ch3\u003E\u003Cstrong\u003ESummary\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EGBPCHF breaking above \u003Cstrong\u003E1.11748\u003C\u002Fstrong\u003E may send bullish signal\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThree potential targets identified\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EIf \u003Cstrong\u003E1.10442\u003C\u002Fstrong\u003E support is broken, bullish scenario becomes invalid&nbsp;\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ERising tops and bottoms should keep GBPCHF bulls in play, pending any news that might cause market structural changes.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nThe bears on the GBPCHF currency pair on the D1 time frame have been testing a weekly support level from 19 July right through to 29 August. The bulls held their ground however and the support has never been properly breached.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EPossible confirmation for a bullish attempt to break to upside\u003C\u002Fstrong\u003E has been mounting with the 15 and 34 Simple Moving Averages edging together and at an overlap at this moment. The Momentum Oscillator has also broken into bullish territory and has been toeing the line from 3 August.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIf the market manages to break past the last bearish candle, which had wicks to both sides, thus indicating possible indecision, then \u003Cstrong\u003Ethree price targets can be calculated\u003C\u002Fstrong\u003E from there.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"c9e66a23-630f-4908-a9d3-8b63ecc0a3ed\" src=\"\u002Fstorage\u002Finline-images\u002FMicrosoftTeams-image_2.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EIf the bears interfere at any time and succeed in breaking through the weekly support level at \u003Cstrong\u003E1.10442\u003C\u002Fstrong\u003E, this will invalidate the long setup on the GBPCHF currency pair and risk must be managed very carefully from there.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAttaching the Fibonacci tool to the \u003Cstrong\u003E1.11748\u003C\u002Fstrong\u003E price level and dragging it to just below the lowest test of the weekly support level at \u003Cstrong\u003E1.10442\u003C\u002Fstrong\u003E, the following targets can be established:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EThe first target is possible at \u003Cstrong\u003E1.12554 (161.8)\u003C\u002Fstrong\u003E that is located just before a weekly resistance level\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe second price target is likely at \u003Cstrong\u003E1.13859 (261.8)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe third price and final target is probable at \u003Cstrong\u003E1.15971 (423.6)\u003C\u002Fstrong\u003E if the bulls can press in and reach the next weekly resistance level\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EGBPCHF breaking above 1.11748 may send bullish signal\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128447_30082023","publicationDate":{"formatted":"2023-08-30T12:20:00","timestamp":1693398000},"readingTime":"2 min","tags":[]},{"title":"This Week: EURUSD ahead of European CPI","body":{"value":"\u003Cp\u003EThe world’s most-traded FX pair finds itself in its 3rd “correction” so far this year, now falling by more than 4% since its July 18th peak. However, EURUSD’s 14-day relative strength index (RSI) is nearing the 30 level which denotes oversold conditions and marked the bottom for the prior two corrections.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"f6d25b4f-3011-4add-9dec-d5bd8fafa354\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-28_EURUSDDaily%20%281%29.jpg\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBloomberg’s model predicted 73% odds that EURUSD will trade between\u003Cstrong\u003E 1.0653 – 1.0912\u003C\u002Fstrong\u003E this week.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAlthough a technical rebound could be in store, EURUSD traders will still have to contend with plenty of potential fundamental catalysts in the week ahead. Prior to Powell’s Jackson Hole speech.\u003Cbr \u002F\u003E\r\n&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, August 30\u003Csup\u003Eth:\u003C\u002Fsup\u003E: Germany August consumer price index (CPI)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EA forecasted 6% year-on-year print, despite a slight moderation from July’s figure, would still be uncomfortably higher than the European Central Bank’s (ECB) 2% inflation target. Note that Germany is the largest economy in the Eurozone. Hence its CPI prints tend to move EURUSD, as markets front-run the broader Eurozone’s CPI print.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EThursday, August 31\u003Csup\u003Est\u003C\u002Fsup\u003E: Eurozone August CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe forecast for the year-on-year CPI now stands at 5%, while core CPI is expected to come in at 5.3%. A set of higher-than-expected CPI numbers may encourage the ECB to hike rates further, potentially boosting EURUSD, assuming that policymakers can tolerate the worsening conditions in the broader economy.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 1\u003Csup\u003Est\u003C\u002Fsup\u003E: US August nonfarm payrolls\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EMarkets are predicting a headline print of 168,000, which would mark the lowest number of new jobs added in a single month since December 2019. However, the unemployment rate is set to stand pat at 3.5%, though wage growth could ease. Better-than-expected US jobs data may boost the USD while dragging EURUSD lower.\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nHere’s comprehensive list of other key economic data and events due this week:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, August 28\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Unemployment rate (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Retail Sales s.a. MoM (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: German Buba President Nagel speech\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, August 29\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: German Consumer Confidence Survey (Sep)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: RBA’s Bullock speech\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ENZD: Building Permits s.a. MoM (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: CB Consumer Confidence (Aug); JOLTS Job Openings (Jul)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, August 30\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAUD: Monthly CPI YoY (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EEUR: German CPI MoM &amp; YoY (Aug); EU Consumer Confidence (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: ADP Employment Change (Aug); GDP (Q2)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EJPY: Large Retailer Sales (Jul)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, 31 August\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECNH: NBS Manufacturing PMI; Non-Manufacturing PMI (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EEUR: EU’s CPI YoY (Aug); EU’s core CPI YoY\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: Initial Jobless Claims; Core PCE Price Index MoM (Jul); Core PCE Price Index YoY (Jul)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: BoE’s Pill speech\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, 1 September\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECNH: Caixin Manufacturing PMI (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECHF: Swiss CPI YoY (Aug); Swiss CPI MoM (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: HCOB Manufacturing PMI (Aug)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: Nonfarm Payrolls (Aug)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: GPD Annualized (Q2)\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EThe world’s most-traded FX pair finds itself in its 3rd “correction” so far this year\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128427_28082023","publicationDate":{"formatted":"2023-08-28T08:41:00","timestamp":1693212060},"readingTime":"3 min","tags":[]},{"title":"Dollar volatile ahead of Jackson Hole","body":{"value":"\u003Cp\u003EThe greenback had a choppy session with the \u003Cstrong\u003EUSD index\u003C\u002Fstrong\u003E breaking to the upside to post a \u003Cstrong\u003Efresh 2-month high\u003C\u002Fstrong\u003E on clear weakness in European FX after the release of \u003Cstrong\u003Esoft PMI data.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFocus had been on the services sector and whether it would fall below the crucial boom\u002Fbust 50 level which marks expansion and contraction.&nbsp;It duly did, \u003Cstrong\u003Ecrimping interest rate hike expectations for the ECB September meeting.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWeak survey data\u003C\u002Fstrong\u003E out of the UK also hit sterling with the \u003Cstrong\u003Epeak rate for the Bank of England falling.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Dollar volatile ahead of Jackson Hole\" data-entity-type=\"file\" data-entity-uuid=\"3a0287f7-bd10-49fa-830f-cfeeb20d0ad1\" src=\"\u002Fstorage\u002Finline-images\u002FUSDIndDaily_17.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ENote that the euro and the British Pound account for nearly 70% of the DXY benchmark index, which is tracked by USDInd.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBut gains&nbsp;for this USDInd were given back in the dollar after US non-farm payrolls benchmark revisions softened the prior job numbers while US PMIs also disappointed.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EFocus now turns to Jackson Hole\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EFormer policymakers and economists expect \u003Cstrong\u003EFed Chair Powell’s keynote speech\u003C\u002Fstrong\u003E to emphasise a \u003Cstrong\u003E“higher for longer”\u003C\u002Fstrong\u003E rate stance.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAfter all,&nbsp;growth forecasts are being revised upwards and the US economy is proving much more resilient than previously expected.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThere is also speculation that Powell&nbsp;could deliver some major long term policy hints that rising fiscal dominance, with huge Treasury issuance and the pressure this will bring to inflation risks, may require a lift to its long-term policy projections.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis would spark significant volatility.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEUR\u002FUSD’s third correction\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EWorse-than-expected PMI data shifted the dial for a September rate hike and saw the euro break down towards 1.08 yesterday.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe disappointing survey numbers pointed to a sluggish economy with recession as a strong downside risk.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EOdds of a rate hike in a few weeks&nbsp;time have dropped to around 40% from close to 60% before the data.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fmarket_sessions\u002F128317_09082023\u002F\"\u003EWe wrote a few weeks&nbsp;ago\u003C\u002Fa\u003E about the pair undergoing \u003Cstrong\u003Ethree corrections this year\u003C\u002Fstrong\u003E which has largely been due to heavy one-way positioning.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe previous ones saw falls of around \u003Cstrong\u003E4%\u003C\u002Fstrong\u003E each.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe current drop from the high at 1.1275 in July is currently running over 3.5%. We note consensus end-of-year forecasts are still up around 1.12.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn the near-term, Tuesday’s gains stalled again around the \u003Cstrong\u003E100-day simple moving average (SMA) at 1.0928\u003C\u002Fstrong\u003E which should now act as \u003Cstrong\u003Eresistance\u003C\u002Fstrong\u003E, with the \u003Cstrong\u003E21-day SMA\u003C\u002Fstrong\u003E also joining in to potentially exert stronger resistance.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EPrices had dipped enough to test&nbsp;the \u003Cstrong\u003E200-day SMA for immediate support.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAny prolonged reversal needs to get above the \u003Cstrong\u003E1.09426 long-term Fibonacci line\u003C\u002Fstrong\u003E to&nbsp;slow the downtrend. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"EUR\u002FUSD’s third correction\" data-entity-type=\"file\" data-entity-uuid=\"33d5908b-a283-4ecf-a97d-4bf101d219f2\" src=\"\u002Fstorage\u002Finline-images\u002FEURUSDDaily_56.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe greenback had a choppy session with the USD index breaking to the upside to post a fresh 2-month high. But gains for this USDInd were given back in the dollar after US non-farm payrolls benchmark revisions softened the prior job numbers while US PMIs also disappointed.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128412_24082023","publicationDate":{"formatted":"2023-08-24T07:29:51","timestamp":1692862191},"readingTime":"3 minutes","tags":[]},{"title":"This week: EURUSD bulls are trying to recover","body":{"value":"\u003Cp\u003EThe world’s most popular major currency pair has held up relatively well recently. Serious worries about China’s recovery prospects mean both the region’s economic exposure and wider risk sentiment are threats to euro performance.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EMarkets currently price in a 50\u002F50 chance of another ECB rate hike in September. A full rate increase is not priced before the end of the year. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"90b014b0-74e1-4679-95c9-5b49940b66cf\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-21_EURUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe major has dipped below both its 50- and 100-day simple moving averages. The latter currently sits at \u003Cstrong\u003E1.0930\u003C\u002Fstrong\u003E and may act a near-term resistance. A base could develop above the late June and July lows around \u003Cstrong\u003E1.0833\u002F35\u003C\u002Fstrong\u003E if they act as solid support.\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, August 23\u003Csup\u003Erd\u003C\u002Fsup\u003E: Eurozone PMIs\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThese manufacturing and services surveys are leading indicators and should serve as a useful guide to how the region’s economies are faring in the third quarter. Muted demand is expected to continue to drag on the manufacturing outlook. The services sector remains above the boom\u002Fbust 50 level (only just in July at 50.9) but emerging growth issues could see a move into contractionary territory.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, August 25\u003Csup\u003Eth\u003C\u002Fsup\u003E: IFO German Business Survey\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThis widely watched German data is forecast to decline to 86.8 from 87.3 in July. That would mark the fourth straight month that business morale has deteriorated. Europe’s economic engine has been struggling to recover after slipping into recession earlier this year.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, August 25\u003Csup\u003Eth\u003C\u002Fsup\u003E: \u003C\u002Fstrong\u003E\u003Cstrong\u003EJackson Hole Symposium\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe Fed’s Powell is scheduled to speak at the FOMC’s annual summer retreat on Friday morning eastern time. Although mostly an academic event, the conference has been used by Fed Chair’s over the years to signal major policy changes. Can Powell declare victory against rampant inflation and proclaim a soft landing is nigh?\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHere’s comprehensive list of other key economic data and events due this week\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, August 21\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENZD: New Zealand July external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECNH: China loan prime rates\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Germany July PPI\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, August 22\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EUSD: US July existing home sales; August manufacturing index\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, August 23\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: Eurozone August PMIs, consumer confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US August PMIs; mortgage applications and new home sales\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: Canada June retail sales\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ENvidia earnings\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, August 24\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EUSD: US weekly initial jobless claims\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, August 25\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: Germany August IFO business climate; 2Q GDP (final)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August consumer confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US August consumer sentiment and inflation expectations (final)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFed Chair Jerome Powell speaks at Jackson Hole\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EA base could develop above the late June and July lows around 1.0833\u002F35\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128381_21082023","publicationDate":{"formatted":"2023-08-21T07:25:00","timestamp":1692602700},"readingTime":"2 min","tags":[]},{"title":"This week: GBPUSD await UK CPI ","body":{"value":"\u003Cp\u003E“Cable” traders (“cable” is the nickname for GBPUSD) are sizing up the economic data out of either side of the pond,&nbsp;in the lead up to the Federal Reserve and Bank of England’s (BOE) respective September policy meetings. Of late, there has been \u003Cstrong\u003Esurprising resilience out of both the US and UK economies\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe Bloomberg FX model predicts a \u003Cstrong\u003E73%\u003C\u002Fstrong\u003E chance that GBPUSD will trade within the\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003E1.25780 – 1.28830\u003C\u002Fstrong\u003E range over the course of this week. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EUltimately, the economy that’s strong enough to withstand further rate hikes by its central bank may see its currency strengthen.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"2023-08-14GBPUSDDaily\" data-entity-type=\"file\" data-entity-uuid=\"cfa52cb8-319a-42ce-adc1-0947caba0811\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-14GBPUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EEvents Watchlist:\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ETuesday, August 15th: UK jobs market data \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe unemployment rate is forecasted to come in at 4% for June, matching May’s number though still its highest since January 2022. June’s average weekly earnings is also forecasted to match May’s 7.3%. However, stronger-than-expected UK jobs data may suggest that the BOE has more hikes to go: a potential GBP booster.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ETuesday, August 15th: US July retail sales\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EIn a sign of defying the Fed’s aggressive rate hikes, US consumers are expecting to boost retail sales to a 0.4% month-on-month growth. If so, that’s double the pace of June’s 0.2% m\u002Fm print! GBPUSD may fall on the stronger dollar is markets sense that such resilient consumer spending could invite a September Fed rate hike.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, August 16th: UK July consumer price index (CPI)\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EHeadline CPI is expected to moderate to 6.7% year-on-year, compared to June’s 7.9%. Yet it’s the core print that’s expected to stay stubbornly elevated at 6.8%, just a slight tick down from June’s 6.9%, that could give policymakers the bigger headache. Lower-than-expected CPI prints though should weigh down on GBPUSD.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, August 16th: Minutes for July FOMC meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EWe already know that the Fed triggered a 25-basis point hike last month, before Fed Chair Jerome Powell then went on to bore markets by repeating his “data dependent” stance during his press conference. However, dovish signals out of the FOMC as uncovered in the meeting minutes may allow GBP to take advantage of USD.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nHere’s comprehensive list of other key economic data and events due this week\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003ETuesday, August 15\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Japan 2Q GDP\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: RBA meeting minutes\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECNH: China July industrial production, retail sales, unemployment\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Germany\u002FEurozone August ZEW survey\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: UK June unemployment\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: US July retail sales; speech by Federal Reserve Bank of Minneapolis President Neel Kashkari\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: Canada July CPI\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, August 16\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECNH: China July new home prices\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ENZD: RBNZ rate decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone 2Q GDP and employment data; June industrial production\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: UK July CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: FOMC meeting minutes; US July industrial production\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, August 17\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Japan July external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Australia July unemployment\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ENOK: Central Bank of Norway rate decision\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone June trade balance\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US weekly initial jobless claims\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, August 18\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EJPY: Japan July CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone July CPI (final)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK July retail sales\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003E“Cable traders” are sizing up the economic data out of either side of the pond\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128334_14082023","publicationDate":{"formatted":"2023-08-14T07:06:00","timestamp":1691996760},"readingTime":"3 min","tags":[]}],"cryptocurrencies":[{"title":"Litecoin extends technical rebound","body":{"value":"\u003Ch3\u003E\u003Cstrong\u003ELitecoin has enjoyed a stellar start to the week, climbing about 3% since Sunday.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EThat’s about double the gains of Bitcoin so far this week, while triple the gains of Ether over the same period.\u003C\u002Fp\u003E\r\n\r\n\u003Ch5\u003E\u003Cem\u003ENOTE: Litecoin is currently the world’s 14\u003Csup\u003Eth\u003C\u002Fsup\u003E largest crypto by market cap, according to CoinGecko data, and was created in 2011 as the “faster” version of Bitcoin.\u003C\u002Fem\u003E\u003C\u002Fh5\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESince officially breaking into oversold territory early last week, when its\u003Cstrong\u003E 14-day relative strength index (RSI) broke below the 30 threshold\u003C\u002Fstrong\u003E, Litecoin has since posted a \u003Cstrong\u003Emonth-to-date high.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ELitecoin bulls are also likely to take heart from the fact that prices recently found support from the upper downward trendline stemming from its early-July intraday high of $114.84.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ECrypto bulls are set to be fixated on the intraday peak in late August as their next point of conquest.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EA higher high beyond \u003Cstrong\u003E$70.55\u003C\u002Fstrong\u003E may send a bullish signal to traders.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EA fresh 2-month high for Litecoin just might rope more bulls in from the sidelines to potentially push Litecoin even higher.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Litecoin extends technical rebound\" data-entity-type=\"file\" data-entity-uuid=\"bd114469-0dbe-4af6-a3dd-5256cfb1583b\" src=\"\u002Fstorage\u002Finline-images\u002FLITECOINDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003EOf course, this is a massive week for global financial markets.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cp\u003EWithin the span of \u003Cstrong\u003E36 hours\u003C\u002Fstrong\u003E starting Wednesday (Sept 20\u003Csup\u003Eth\u003C\u002Fsup\u003E), the \u003Cstrong\u003EUS Federal Reserve, the Bank of England, and the Bank of Japan\u003C\u002Fstrong\u003E, along with half of G20 central banks, may signal their next policy moves to investors and traders worldwide.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAlthough crypto prices have largely ignored such macro events so far this year, the 30-day correlation between Litecoin and the Nasdaq 100 index was recently restored to its year-to-date high on September 5\u003Csup\u003Eth\u003C\u002Fsup\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003ECentral bank policies do influence liquidity levels across global financial markets.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EAnd as we know, liquidity is a key pillar for the crypto universe, of which it has been sorely lacking this year.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EShould these major central banks signal \u003Cstrong\u003Emore rate hikes ahead\u003C\u002Fstrong\u003E, such policy tightening may further\u003Cstrong\u003E drain liquidity\u003C\u002Fstrong\u003E from global markets, exacerbating price moves for cryptos while \u003Cstrong\u003Epotentially exerting downward pressure on prices.\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EHowever, signs that these influential central banks, especially the Fed, are&nbsp;\u003Cstrong\u003Edone with their&nbsp;rate hikes\u003C\u002Fstrong\u003E, could spur \u003Cstrong\u003Enear-term gains\u003C\u002Fstrong\u003E for the likes of Litecoin.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003EOverall, crypto aficionados could still do with a shot in the arm.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cp\u003EThis especially in light of the fact that investors have \u003Cstrong\u003Epulled out about US$ 500 million\u003C\u002Fstrong\u003E in crypto products over the past 9 weeks, according to a CoinShares report.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAnd with this crypto still over \u003Cstrong\u003E80% below its ATH \u003C\u002Fstrong\u003E(all-time high) of $413.41 on intraday prices set on May 16\u003Csup\u003Eth\u003C\u002Fsup\u003E 2021 …\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003ELitecoin&nbsp;still requires plenty of fresh reasons before it can meaningfully begin closing that gulf between its current price and previous heights.\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EA higher high beyond $70.55 may send a bullish signal to traders, in what is a massive week full of major central bank policy decisions.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128591_19092023","publicationDate":{"formatted":"2023-09-19T10:20:53","timestamp":1695118853},"readingTime":"4 minutes","tags":[]},{"title":"Bitcoin rebounds despite “death cross”","body":{"value":"\u003Cp\u003EAs we had cited in our \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128389_22082023\u002F\"\u003Earticle dated August 22\u003Csup\u003End\u003C\u002Fsup\u003E\u003C\u002Fa\u003E:\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003E“… September’s seasonality may spell more trouble ahead for Bitcoin bulls.”\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe world’s largest crypto is already\u003Cstrong\u003E down by about 1% so far in September.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003EThis week, Bitcoin also formed a \u003Cstrong\u003E“death cross”\u003C\u002Fstrong\u003E, with its 50-day simple moving average (SMA) crossing below its 200-day counterpart.\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EA “death cross” typically sends a bearish signal, indicating more price declines ahead.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHowever, Bitcoin bulls instead adopted a “never-say-die” attitude and helped prices rebound back towards the psychologically-important $26k mark at the time of writing.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Bitcoin rebounds above $25k despite “death cross”\" data-entity-type=\"file\" data-entity-uuid=\"bd7c0ee2-f504-4618-b9c3-fd81a4c48ab6\" src=\"\u002Fstorage\u002Finline-images\u002FBITCOINDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIt made sense that Bitcoin would find support around the \u003Cstrong\u003E$24,800\u003C\u002Fstrong\u003E level, as this price region:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003Ealso offered price \u003Cstrong\u003Esupport \u003C\u002Fstrong\u003Eback in \u003Cstrong\u003Emid-June\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003Eserved as a \u003Cstrong\u003Eresistance \u003C\u002Fstrong\u003Earea \u003Cstrong\u003Elast February\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhy has Bitcoin been languishing?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003ERecent news that now-bankrupt FTX could sell its digital assets, which include US$560 million worth of Bitcoin, has soured sentiment surrounding cryptos.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFurthermore, as mentioned in our \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128389_22082023\u002F\"\u003EAugust 22\u003Csup\u003End\u003C\u002Fsup\u003E article\u003C\u002Fa\u003E:\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EBitcoin’s summer lull has been upended by persistent fears that the Fed will keep US interest rates higher for longer.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe above notion has fed into the \u003Cstrong\u003EUS dollar’s recent strength\u003C\u002Fstrong\u003E as well as \u003Cstrong\u003Eelevated US Treasury yields\u003C\u002Fstrong\u003E, which in turn cast downward pressures on Bitcoin as well as the wider crypto universe.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn addition, the broader crypto market still has to contend with a \u003Cstrong\u003Elack of liquidity\u003C\u002Fstrong\u003E, as major players continue to wade through the regulatory uncertainty following last year’s high-profile implosions.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis has severely crimped Bitcoin’s ability to fully relish \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128482_05092023\u002F\"\u003EGrayscale’s recent legal win\u003C\u002Fa\u003E, nor the prospects of BlackRock’s Bitcoin ETF\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003ETo be clear, Bitcoin still holds a year-to-date gain of over 55% at the time of writing.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EHowever, it still remains more than \u003Cstrong\u003E60% below its all-time high\u003C\u002Fstrong\u003E, just shy of the&nbsp; $69k mark,&nbsp;registered in November 2021.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIf the $24,800 support line finally gives way, it may revisit the\u003Cstrong\u003E low-$20k region \u003C\u002Fstrong\u003Ethat we last saw in Q1 2023, while snuffing out more of its year-to-date gains.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EA “death cross” typically sends a bearish signal, indicating more price declines ahead.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128535_12092023","publicationDate":{"formatted":"2023-09-12T06:30:00","timestamp":1694500200},"readingTime":"3 minutes","tags":[]},{"title":"Bitcoin yo-yos on ETF regulatory approval","body":{"value":"\u003Cp\u003EIt’s been a volatile few sessions in the bitcoin space after \u003Cstrong\u003EGrayscale won a battle against US regulators\u003C\u002Fstrong\u003E last week.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe company, an asset management firm which holds roughly $17 billion in bitcoin, succeeded in a landmark case when a court ruled that the regulator was wrong to reject the firm’s application to convert its flagship product into a bitcoin-backed exchange traded fund.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA spot bitcoin ETF has become the “crypto holy grail” as \u003Cstrong\u003Eit would allow consumers to trade bitcoin in a cheap, safe and well-understood regulatory product\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EIn effect, it would unlock the \u003Cstrong\u003Enext phase of crypto adoption and see trillions of dollars of institutional capital come off the sidelines\u003C\u002Fstrong\u003E. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThis would also shift the buying from unregulated crypto exchanges.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"b924e15e-f78e-4463-9b23-1d7a3c49470e\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-05_BITCOINDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe price of bitcoin jumped over \u003Cstrong\u003E8%\u003C\u002Fstrong\u003E at one point intraday on the Grayscale news, before closing more than \u003Cstrong\u003E6%\u003C\u002Fstrong\u003E higher last Tuesday. The world’s most traded cryptocurrency settled above the widely watched 200-day simple moving average, currently at \u003Cstrong\u003E$27,558\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBut as we warned last week, this capped the upside with prices falling sharply last Thursday by over \u003Cstrong\u003E5%\u003C\u002Fstrong\u003E and back to the previous range played out since mid-August around \u003Cstrong\u003E$26,000\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe collapse came on the back of \u003Cstrong\u003Enews that regulators had deferred approvals\u003C\u002Fstrong\u003E of the first US ETFs that invest directly in the cryptocurrency, killing investors hopes for a quickfire route to the world’s biggest capital market.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ENumerous household retail fund managers like BlackRock, the world’s largest asset manager, Fidelity, Invesco and WidsomTree have been rebuffed with the SEC saying it needed more time to consider the applications.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe SEC has long justified its opposition to ETF products on the basis of market manipulation grounds and it is now\u003Cstrong\u003E expected to make its decision on spot bitcoin ETFs in the middle of next month\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIt seems odd how the SEC can justify their rejection of ETF approval after accepting a previous proposal for future-based bitcoin ETFs.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ESeveral crypto experts believe \u003Cstrong\u003Eit is only a matter of time before SEC authorization\u003C\u002Fstrong\u003E, although price action has still been very much rangebound since the volatility. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe mid-June lows around \u003Cstrong\u003E$24,750\u002F821\u003C\u002Fstrong\u003E are next major support before big round numbers. We note the recent crossover with the 50-day moving average moving down below the 100-day moving average which could indicate the potential for a bearish move. Again, the 200-day simple moving average may cap the upside.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EA spot bitcoin ETF has become the “crypto holy grail”\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128482_05092023","publicationDate":{"formatted":"2023-09-05T08:32:00","timestamp":1693902720},"readingTime":"2 min","tags":[]},{"title":"Bitcoin is back, just above June lows","body":{"value":"\u003Cp\u003EBitcoin is consolidating after its sharp drop from a few weeks’ ago when it crashed below the 200-day simple moving average at \u003Cstrong\u003E$27,443\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EPrices of the world’s most popular cryptocurrency traded under this widely watched indicator for most of last year before then advancing and staying above it for most of 2023 until very recently.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAs the calendar shifts to September, most seasoned professionals will need no reminders that there is a \u003Cstrong\u003Enegative effect on risk appetite during the ninth month of the year\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe benchmark S&amp;P 500 major US stock index has an average monthly return of -1% during September going back to 1928. We recently highlighted the \u003Cstrong\u003Eaverage 6% monthly decline\u003C\u002Fstrong\u003E during the same time that has hit Bitcoin since its inception in 2010.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe recent, sudden selling seriously shook Bitcoin out of its summer lull. Fears around Elon Musk’s SpaceX writing down some of the value of its cryptocurrency holdings spooked the market.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ELow trading volumes and a drop in volatility probably exacerbated the momentum as the market was more sensitive to larger trades. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"494d60a7-81a8-425c-8b2f-35d660aa8f63\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-29_BITCOINDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis was illustrated by the fact that\u003Cstrong\u003E the August 17 move would have taken the sale of 463 bitcoins to push the price down by 1%\u003C\u002Fstrong\u003E of its prevailing value, according to CCData, an industry information provider.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ECertainly, trading activity and liquidity have dried up in the wider crypto markets this year as US regulators have cracked down on and charged some of the biggest names in the industry including Coinbase and Binance. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThis has contrasted with more \u003Cstrong\u003Epositive news around BlackRock’s SEC application for a Bitcoin ETF\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn the short-term, investors are also having to adjust their expectations around US interest rates staying higher for longer as the economy remains much more resilient than most expected, causing upward revisions to growth forecasts.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe Fed raised rates to 22-year highs in July and Chair Powell left the door open to \u003Cstrong\u003Efurther increases\u003C\u002Fstrong\u003E this year if that data warrants it in his Jackson Hole speech last week.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBuyers will hope the mid-June low at \u003Cstrong\u003E$24,750\u003C\u002Fstrong\u003E can act as support with the February top at \u003Cstrong\u003E$25,288 \u003C\u002Fstrong\u003Ejust above here as an initial reference point. The 200-day simple moving average could cap any upside with the breakdown level around the 100-day simple moving average at \u003Cstrong\u003E$28,450\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EBitcoin is consolidating after its sharp drop below the 200-day SMA\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128438_29082023","publicationDate":{"formatted":"2023-08-29T10:16:00","timestamp":1693304160},"readingTime":"3 min","tags":[]},{"title":"Bitcoin may only wake up when September ends","body":{"value":"\u003Cp\u003EThe world’s largest crypto had been trading on either side of the $30k mark since mid-June.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ESuch a muted, range-bound summer was then \u003Cstrong\u003Eobliterated \u003C\u002Fstrong\u003Ein recent sessions.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EBitcoin plummeted past its \u003Cstrong\u003E200-day simple moving average (SMA)\u003C\u002Fstrong\u003E and is now trading considerably below that technical indicator for the first time since early January.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ENow trading around the $26k mark, Bitcoin has erased all of its gains since mid-June, following BlackRock’s application to the SEC for a Bitcoin ETF.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Bitcoin may only wake up when September ends\" data-entity-type=\"file\" data-entity-uuid=\"0429c704-3211-4b1a-a3f9-6aa545345496\" src=\"\u002Fstorage\u002Finline-images\u002FMicrosoftTeams-image%20%2846%29.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBitcoin’s summer lull has been upended by \u003Cstrong\u003Epersistent fears\u003C\u002Fstrong\u003E that the Fed will keep \u003Cstrong\u003EUS interest rates higher for longer.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe crypto world’s headwinds have only been exacerbated by \u003Cstrong\u003Erising Treasury yields\u003C\u002Fstrong\u003E that pile on the existing pressures from \u003Cstrong\u003EUS regulators\u003C\u002Fstrong\u003E on crypto industry players, while broader risk sentiment remains soured by the thought of a \u003Cstrong\u003Eslowing global economy\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EFor proper context, Bitcoin isn’t being singled out amidst the latest leg down for cryptos.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ESince our \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128344_15082023\u002F\"\u003Elast crypto article on August 15\u003Csup\u003Eth\u003C\u002Fsup\u003E\u003C\u002Fa\u003E, \u003Cstrong\u003EEther has fallen by about 9%,\u003C\u002Fstrong\u003E while Ripple’s \u003Cstrong\u003EXRP is trading 13.6% lower.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EAnd September’s seasonality may spell more trouble ahead for Bitcoin bulls.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003ESince Bitcoin’s inception in 2010, September has \u003Cstrong\u003Eaveraged a monthly decline of 6%.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAccording to Bloomberg data, Bitcoin prices have posted a \u003Cstrong\u003Emonthly drop\u003C\u002Fstrong\u003E for the \u003Cstrong\u003Epast six straight Septembers.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EHowever, Bitcoin bulls may harken to the fact that \u003Cstrong\u003EQ4 has traditionally been a period of stellar gains.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHere’s how Bitcoin has typically fared over the final three months of the calendar year:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EOctober = up \u003Cstrong\u003E31.4%*\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ENovember = up \u003Cstrong\u003E37.6%*\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EDecember = up \u003Cstrong\u003E13.3%*\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003E* = monthly average since 2010\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ERecent history has also shown that \u003Cstrong\u003EOctober tends to be a good month\u003C\u002Fstrong\u003E for Bitcoin, with this original crypto having posted a \u003Cstrong\u003Emonthly gain in 7 out of the past eight Octobers.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAn \u003Cstrong\u003EOctober surge \u003C\u002Fstrong\u003Efor Bitcoin should dovetail quite nicely with \u003Cstrong\u003Epotential positive catalysts\u003C\u002Fstrong\u003E that may arrive in the months ahead.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAs cited in our \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128299_22082023\u002F\"\u003EAugust 8\u003Csup\u003Eth\u003C\u002Fsup\u003E crypto article\u003C\u002Fa\u003E, a \u003Cstrong\u003Ekey US court’s decision\u003C\u002Fstrong\u003E pertaining to Grayscale’s lawsuit against the US Securities and Exchange Commission (SEC) may arrive sometime in \u003Cstrong\u003Eend-September\u003C\u002Fstrong\u003E (though there’s online chatter of such a decision perhaps even arriving today).\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EBloomberg News also recently reported that the SEC may approve the \u003Cstrong\u003Efirst Ether futures ETFs\u003C\u002Fstrong\u003E in \u003Cstrong\u003EOctober\u003C\u002Fstrong\u003E.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EStill, crypto bears may yet wrestle Bitcoin prices even lower, while waiting for potentially positive catalysts to arrive.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EShould Bitcoin \u003Cstrong\u003Ebreak below the $25k \u003C\u002Fstrong\u003Emark, then the next potential pit stop for prices on a south-bound journey may arrive around the \u003Cstrong\u003E$22k - $24k region\u003C\u002Fstrong\u003E that it saw on a couple of cycles back in Q1 2023.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a \u003Cstrong\u003Ebull’s perspective\u003C\u002Fstrong\u003E, Bitcoin has to clamber \u003Cstrong\u003Eback above its 200-day SMA\u003C\u002Fstrong\u003E to restore some semblance of near-term confidence.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ESince Bitcoin’s inception in 2010, September has averaged a monthly decline of 6%.&nbsp;According to Bloomberg data, Bitcoin prices have posted a monthly drop for the past six straight Septembers.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128389_22082023","publicationDate":{"formatted":"2023-08-22T06:18:34","timestamp":1692685114},"readingTime":"3 minutes","tags":[]},{"title":"Bitcoin muted through summer","body":{"value":"\u003Cp\u003EThe world’s most popular cryptocurrency continues to track sideways as it awaits the next catalyst.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EPrices have remained relatively stagnant recently after trading above the key critical resistance zone around \u003Cstrong\u003E$30,000\u003C\u002Fstrong\u003E for most of July.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ELast month saw a flurry of positive news around the announcement that BlackRock, the world’s biggest fund manger with assets under management totalling around a staggering \u003Cstrong\u003E$9 trillion\u003C\u002Fstrong\u003E, had filed to launch a spot \u003Cstrong\u003Ebitcoin ETF\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis set off a \u003Cstrong\u003Eburst of new applications\u003C\u002Fstrong\u003E or reapplications by the likes of Fidelity, Invesco, and Valkyrie, while Ark Invest had already filed to launch a spot bitcoin ETF in April. &nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"2023-08-15_BITCOIND1\" data-entity-type=\"file\" data-entity-uuid=\"2f7968df-1d96-424e-a261-9fd0a22374b0\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-15_BITCOINH1.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EPrices surged from below \u003Cstrong\u003E$26,000\u003C\u002Fstrong\u003E in mid-June though the 50-day simple moving average and the psychological \u003Cstrong\u003E$30k\u003C\u002Fstrong\u003E level. Bitcoin is now consolidating near a pivotal support area which includes both the 21-day simple moving average at \u003Cstrong\u003E$29,311\u003C\u002Fstrong\u003E and the lower boundary of a multi-month ascending channel.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThere has also been lower volatility over the past few weeks with subdued price fluctuations, no doubt due to the summer months.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAugust is known for being a quieter few weeks in terms of liquidity and volumes. Indeed, any volatility this month can sometimes be taken with a large dose of scepticism until markets transition back toward what often turn out to be more difficult conditions through which to navigate.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ECertainly, regarding the wider macro picture, \u003Cstrong\u003Eattention should return towards September \u003C\u002Fstrong\u003Ewhen major central bank meetings come thick and fast and hopefully bring us some much-needed clarity.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EInflation will remain the key focus with the current dovish narrative perhaps getting ahead of itself with key global commodity markets broadly rising and wage pressures and tight labour markets still evident. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ERisk sentiment has turned sharply but briefly recently with both risk-on and risk-off phases in the wider market. But Treasury yields have surged as US data remains relatively solid meaning interest rates could stay higher for an extended period.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe longer bitcoin trades in a tight range, the bigger the ensuing range expansion should likely occur. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThrough \u003Cstrong\u003E$30,000\u003C\u002Fstrong\u003E, the July top at \u003Cstrong\u003E$31,790\u003C\u002Fstrong\u003E is a major target for bulls. Near-term support rests at the early low at the start of this month at \u003Cstrong\u003E$28,637\u003C\u002Fstrong\u003E, close to the 100-day simple moving average. The long-term 200-day simple moving average sits below here at \u003Cstrong\u003E$27,172\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe world’s most popular cryptocurrency continues to track sideways as it awaits the next catalyst.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128344_15082023","publicationDate":{"formatted":"2023-08-15T09:21:00","timestamp":1692091260},"readingTime":"3 min","tags":[]},{"title":"PayPal's stablecoin fails to excite Bitcoin","body":{"value":"\u003Cp\u003EBitcoin prices have been moderating lower since mid-July, now trapped between two simple moving averages (SMA), namely the 21-day and 100-day SMAs.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"PayPal's stablecoin fails to excite Bitcoin\" data-entity-type=\"file\" data-entity-uuid=\"f6e20048-82d6-458b-87f3-776eebd0f906\" src=\"\u002Fstorage\u002Finline-images\u002FBITCOINDaily_2023-08-08.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EEven the overnight news of PayPal launching a stablecoin, called \u003Cstrong\u003EPYUSD\u003C\u002Fstrong\u003E, failed to spark notable excitement in Bitcoin.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EPYUSD is set to be pegged to the US dollar and backed by USD deposits, short-term Treasuries and other cash equivalents.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis is a major development – the first by a large financial company –and could boost the usage of payments made via digital tokens.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ECrypto’s woes still palpable\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBitcoin’s (and other major cryptos) lacklustre response to PayPal’s announcement is likely due to the fact that the crypto sector still has to wade through ongoing uncertainties.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe crypto world is still contending with the following:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003Ea tightening net from authorities\u003C\u002Fli\u003E\r\n\t\u003Cli\u003Ean uncertain regulatory outlook\u003C\u002Fli\u003E\r\n\t\u003Cli\u003Elack of liquidity\u003C\u002Fli\u003E\r\n\t\u003Cli\u003Econtinued fallout from 2022’s high-profile implosions, etc.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe above list should be enough to explain the cautious stance adopted by crypto bugs of late.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EStill, there could be major developments in store that could boost Bitcoin prices, if things take a favourable turn for crypto aficionados:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EEnd-September 2023: \u003C\u002Fstrong\u003Eexpected date for court’s decision in Grayscale’s lawsuit against the US Securities and Exchange Commission (SEC).\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EDecember 2023: \u003C\u002Fstrong\u003ECBOE’s lawsuit against SEC\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EJan – March 2024: \u003C\u002Fstrong\u003EDeadline for SEC’s decision on Bitcoin ETF filings\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe potential catalysts for major crypto price moves are set to be a few months out, which could test HODL-ers patience in the interim.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EPositive outcomes could see Bitcoin skyrocketing past its year-to-date high of $31,871.31.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EShould the above decisions by US courts or the SEC go against the crypto community, Bitcoin may well go crashing down in the months ahead to the $20k mark last seen in March.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EBitcoin prices have been moderating lower since mid-July, now trapped between two simple moving averages (SMA), namely the 21-day and 50-day SMAs.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128299_22082023","publicationDate":{"formatted":"2023-08-08T09:19:24","timestamp":1691486364},"readingTime":"3 minutes","tags":[]},{"title":"Litecoin tests support ahead of Aug. 2nd “halving”","body":{"value":"\u003Cp\u003EThe crypto that’s intended to be the faster-Bitcoin is about to face a pivotal moment that happens once every 4 years.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EOn August 2\u003Csup\u003End\u003C\u002Fsup\u003E, Litecoin is set to experience its next “halving”.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Ch6\u003E\u003Cem\u003ENOTE: A “halving” is when the rewards for securing and recording transactions on Litecoin’s blockchain are lowered by 50%.\u003C\u002Fem\u003E\u003C\u002Fh6\u003E\r\n\r\n\u003Ch6\u003EWhen Litecoin first came to life in 2011, a “halving” had&nbsp;been baked into its code every 4 years; with the final halving slated for the year 2142.\u003C\u002Fh6\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003ELitecoin has typically rallied in the lead-up to its halvings.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003ESure enough, since its November trough, its prices has \u003Cstrong\u003Esoared by over 140% \u003C\u002Fstrong\u003Ethrough to its July peak.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThat’s greater than the 105% managed by Bitcoin during the same period (November 2022 – July 2023).\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EHowever, Litecoin’s gains have been notably watered down of late, with its \u003Cstrong\u003E29% year-to-date climb\u003C\u002Fstrong\u003E at the time of writing dwarfed by Bitcoin’s 75% advance so far in 2023.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ELooking at the price charts, the prices of the world’s 12\u003Csup\u003Eth\u003C\u002Fsup\u003E largest crypto, according to CoinGecko, is now trapped within several key simple moving averages (SMA), after having shed about one-fifth of its value since its intraday peak in early July.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETrading around $90 at the time of writing, Litecoin is still far below its ATH (all-time high) when it breached $400 back in May 2021.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Litecoin tests support ahead of Aug. 2nd “halving”\" data-entity-type=\"file\" data-entity-uuid=\"54ec72e0-2412-4de9-a3ff-6d8048e41487\" src=\"\u002Fstorage\u002Finline-images\u002FMicrosoftTeams-image%20%2845%29.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E&nbsp;\u003C\u002Fh3\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003ETerraforms ruling muddies crypto’s regulatory outlook\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EAfter all, the crypto woes are still intact, with plenty of uncertainty surrounding how regulators and authorities view this asset class.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EJust this week, a federal judge in New York allowed the US Securities and Exchange Commission (SEC) to proceed with a case against Terraform Labs and its founder, Do Kwon.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EIn doing so, this judge appears to \u003Cstrong\u003Econtradict\u003C\u002Fstrong\u003E a \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128144_18072023\u002F\"\u003Eseparate ruling made last month\u003C\u002Fa\u003E, which does not label Ripple’s XRP token as a “security” when sold to the general public (as opposed to institutional investors).\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EHence, this latest ruling has \u003Cstrong\u003Ecast doubt anew \u003C\u002Fstrong\u003Eon the whether a digital asset is\u002Fshould also classify as a “security”, and under whose jurisdiction or laws it should comply with.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAmid revived regulatory uncertainty surrounding the crypto sector, bulls are left hunting for a fresh catalyst for restoring prices to recent highs.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFor the immediate future, they’ll be hoping that these&nbsp;SMAs will hold as support, even as these widely-watched technical indicators converge amid a lack of directionality.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOtherwise, the next leg down may drag Litecoin back around the $80 - $82 region.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EFor the immediate future, Litecoin bulls will be hoping that these SMAs will hold as support, even as these widely-watched technical indicators converge amid a lack of directionality.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128250_01082023","publicationDate":{"formatted":"2023-08-01T08:34:06","timestamp":1690878846},"readingTime":"3 minutes","tags":[]},{"title":"Bitcoin tests 50-day SMA support","body":{"value":"\u003Cp\u003EBitcoin has faltered away from the psychologically-important $30k, with the\u003Cstrong\u003E 50-day simple moving average\u003C\u002Fstrong\u003E (SMA) now being relied on to \u003Cstrong\u003Eshore up crypto bulls’ defences.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe recent leg down for prices of the world’s largest crypto by market cap has now whittled its advance so far in 2023 to “just”\u003Cstrong\u003E 76.5%\u003C\u002Fstrong\u003E at the time of writing, compared to the 92% year-to-date gain it held as of July 13\u003Csup\u003Eth\u003C\u002Fsup\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Bitcoin tests 50-day SMA support\" data-entity-type=\"file\" data-entity-uuid=\"63b9efe7-05c1-475e-84c8-f3e761603cce\" src=\"\u002Fstorage\u002Finline-images\u002FMicrosoftTeams-image%20%2844%29_0.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThere appears to be an ebbing of the euphoria from crypto’s recent twin boosters:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EBlackRock \u003C\u002Fstrong\u003Efiled a \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F127932_20062023\u002F\"\u003EBitcoin ETF application\u003C\u002Fa\u003E to the SEC which promises to offer greater access to the world’s largest crypto for retail investors\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EXRP’s \u003C\u002Fstrong\u003Enewfound, though not yet fully confirmed, status that it’s \u003Ca href=\"https:\u002F\u002Falpari.com\u002Fen\u002Fanalytics\u002Freviews\u002Fcryptocurrencies\u002F128144_18072023\u002F\"\u003Enot a “security” when sold to the public on an exchange\u003C\u002Fa\u003E. However, the SEC appears to be appealing that ruling by a federal judge in New York.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETo be clear, there are still pockets within the crypto world where prices are pushing higher:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EDogecoin \u003C\u002Fstrong\u003Eis on course for back-to-back daily gains, now trading at a 2-month high, on hopes that this memecoin could play a major role on Elon Musk’s X platform (having shed its Twitter logo).\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWorldcoin \u003C\u002Fstrong\u003Edoubled in price when it began trading yesterday (Monday, July 24\u003Csup\u003Eth\u003C\u002Fsup\u003E). Worldcoin is the token of the crypto project involving Sam Altman, the CEO of OpenAI of ChatGPT fame.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EIt appears that crypto has the propensity to react to sector-specific catalysts rather than macro drivers.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAfter all, Bitcoin’s correlation with the Nasdaq 100 index is near-flat on a 3-day rolling basis over the past one-year period.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EWhile the crypto world may not have moved in lockstep with global financial markets of late, it still bears noting that seismic events may happen this week on the global stage.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWatch the Fed\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe \u003Cstrong\u003EFederal Reserve,\u003C\u002Fstrong\u003E the US central bank that has the power to sway trillions across asset classes, is due to send out a crucial policy signal tomorrow (Wednesday, July 26\u003Csup\u003Eth\u003C\u002Fsup\u003E).\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ECryptos could take heart\u003C\u002Fstrong\u003E if the Fed signal’s that this week’s 25-basis point (bp) hike to its benchmark interest rates will be the \u003Cstrong\u003Efinal such move \u003C\u002Fstrong\u003Ein a series that stretches back to March 2022.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThis could be the catalyst for a \u003Cstrong\u003Ereturn to $30k Bitcoin\u003C\u002Fstrong\u003E and a retesting of its \u003Cstrong\u003E21-day SMA as critical resistance.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, if the Fed points to its benchmark\u003Cstrong\u003E rates moving higher even after this week’s 25-bps&nbsp;hike\u003C\u002Fstrong\u003E, that could send a risk-off wave across financial markets, perhaps heaping more \u003Cstrong\u003Edownward pressure on cryptos.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThis latter scenario may see Bitcoin bears test the \u003Cstrong\u003E100-day simple moving average\u003C\u002Fstrong\u003E, as well as the late-May cycle high around the \u003Cstrong\u003Elow-$28k region for immediate support.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EA violent breakout to the downside may see Bitcoin finding truer support around the \u003Cstrong\u003Epsychologically-important $25k mark\u003C\u002Fstrong\u003E, which had repelled bears prior to the mid-June ascent triggered by BlackRock’s ETF application.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ECryptos could take heart if the Fed signal’s that this week’s 25-basis point (bp) hike to its benchmark interest rates will be the final such move in a series that stretches back to March 2022.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128204_25072023","publicationDate":{"formatted":"2023-07-25T11:36:15","timestamp":1690284975},"readingTime":"5 minutes","tags":[]},{"title":"XRP holds at one-year high","body":{"value":"\u003Cp\u003EXRP is keeping its head above the \u003Cstrong\u003E$0.70\u003C\u002Fstrong\u003E line, still trading around its highest levels since April 2022.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EPrices of the world’s fourth largest crypto by market cap (according to CoinGecko data) appears to be consolidating after last week’s spike past \u003Cstrong\u003E$0.90\u003C\u002Fstrong\u003E, when XRP hit levels not seen since December 2021.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAt the time of writing, XRP has a year-to-date advance of \u003Cstrong\u003E119%\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"XRP holds at one-year high\" data-entity-type=\"file\" data-entity-uuid=\"0a5e9ff2-865b-45e0-92e4-3045262ddf3c\" src=\"\u002Fstorage\u002Finline-images\u002FRIPPLEDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EXRP skyrocketed after a federal judge in New York ruled on July 13\u003Csup\u003Eth\u003C\u002Fsup\u003E that the token belonging to Ripple does not constitute a “security” when sold to the public on an exchange.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, the ruling did label XRP as a security when sold directly to institutional investors.\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EIs the worst now over for XRP?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003ETo be clear, this legal process involving Ripple is still a few months away from potentially reaching its final conclusion.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThere could be more twists and turns, challenges and appeals, before a final decision is made.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EStill, last week’s ruling was already a major welcomed-relief, at least for retail market participants and less so for the SEC, which sent prices surging in a crypto world that’s still a shadow of its former self.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAfter all, regulators are still tightening their noose around the crypto sector, with more than \u003Cstrong\u003E20 enforcement cases brought against high-profile industry players\u003C\u002Fstrong\u003E, including major crypto exchanges such as\u003Cstrong\u003E Binance and Coinbase\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBut with XRP now having a more-defined status, the psychologically-important \u003Cstrong\u003E$0.70\u003C\u002Fstrong\u003E level may form a solid base from which prices could potentially revisit that \u003Cstrong\u003E$0.91871\u003C\u002Fstrong\u003E peak, or perhaps pursue even greater heights, provided the crypto world is given more comfort.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOtherwise, further risk-off headlines that sends a major shudder through the crypto world and amplifies the sector’s woes may force XRP to unwind recent gains, with the next noticeable support likely seen around the upper-$0.50 region that served as prior year-to-date peaks.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EXRP is keeping its head above the $0.70 line, still trading around its highest levels since April 2022.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128144_18072023","publicationDate":{"formatted":"2023-07-18T08:11:28","timestamp":1689667888},"readingTime":"2 min","tags":[]}],"commodities":[{"title":"BRN surges towards $95.00 ","body":{"value":"\u003Cp\u003EOil prices continue to rise reaching fresh 2023 highs at \u003Cstrong\u003E$94.08\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EDespite the negative technical outlook (RSI – overbought at 78.26) &amp; the surprise jump in US stockpiles, the BRN bulls have managed to gain strong momentum and carve out a larger gap above the psychologically important $\u003Cstrong\u003E90.00\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"49fe459f-6dab-418e-a28c-794002e38ce0\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-15_BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESupported by the IEA and OPEC’s warnings for a global market deficit, in light of Saudi Arabia’s probable decision to extend its voluntary supply cuts into next year, BRN bulls may be able to push the price further towards the \u003Cstrong\u003E$95.00\u003C\u002Fstrong\u003E round number.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAnalysts estimate a potential for the BRN to reach $107\u002Fbbl in 2024.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EInvestors are now paying increased attention towards any macro-economic developments which may signal the potential slowdown in demand from US &amp; China – the world’s largest oil consumers.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAnother Fed rate hike in 2023 could be a drag on US’ economic growth, and thus on demand for the “black gold”\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EContinued economic turbulence in China could also lead to potential drop in oil demand\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EOil prices rise as Saudi-Russia output curbs bite.\u003C\u002Fp\u003E\r\n"},"alias":"128572_15092023","publicationDate":{"formatted":"2023-09-15T07:00:00","timestamp":1694761200},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"BRN at $90\u002Fbbl","body":{"value":"\u003Cp\u003EOil prices have experienced a strong boost following the \u003Cstrong\u003Edecision by Saudi Arabia and Russia to extend oil production cuts\u003C\u002Fstrong\u003E of 1 million bbl\u002Fday and 300,000 bbl\u002Fday respectively until the end of 2023. The decision came on top of the previously introduced OPEC+ cuts in April.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESaudi Arabia has also hinted about the \u003Cstrong\u003Epossibility of deeper production cuts in the future\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESqueezed output, combined with a higher-than-expected US Crude Inventories’ reading on Wednesday, has propelled Brent Crude above the psychologically important \u003Cstrong\u003E$90\u003C\u002Fstrong\u003E level for the first time since November 2022.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAnalysts predict that oil prices could move above \u003Cstrong\u003E$100\u003C\u002Fstrong\u003E if Russia and Saudi Arabia extend their production cuts into next year.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"be04e1da-0bd5-42e0-b7eb-dd9e3dd769b9\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-08_BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EDespite strong support coming from the world’s largest oil producers, uncertainty surrounding the future of the US economy in light of a potential rate hike in the coming months may put significant pressure on oil bulls.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EInvestors are also worried about the \u003Cstrong\u003Epotential decline in demand from China\u003C\u002Fstrong\u003E after mixed macroeconomic data was published earlier this week which showed that&nbsp;August exports declined 8.8% y\u002Fy&nbsp;while imports fell 7.3%.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EBRN to reach $100\u002Fbbl?\u003C\u002Fp\u003E\r\n"},"alias":"128517_08092023","publicationDate":{"formatted":"2023-09-08T07:02:00","timestamp":1694156520},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"Brent is trying to hold above $85.00\u002Fbbl","body":{"value":"\u003Cp\u003EBrent is trying to hold on above \u003Cstrong\u003E$85.00\u002Fbbl\u003C\u002Fstrong\u003E as markets expect OPEC+ cuts to be further extended, offsetting a potential slowdown in demand from China. In addition to the wider OPEC+ supply limit, Saudi Arabia might also prolong it’s voluntary 1 billion bbl\u002Fday output cut.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAnalysts are expecting crude to average \u003Cstrong\u003E$82.45\u002Fbbl\u003C\u002Fstrong\u003E in 2023.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"2353af54-9821-4ddd-a675-80ca62ab5aa1\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-31_BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBut the struggling Chinese economic recovery is playing a key role in determining potential future demand for oil. Investors are also paying close attention to the US, still a leading oil consumer, ahead of the Federal Reserve’s interest rate decision in September.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe Fed’s continuation of its hawkish bias may strongly impact on the demand for “black gold”.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective, \u003Cstrong\u003E$86\u003C\u002Fstrong\u003E could provide support, while the Relative Strength Index (RSI) is still a few levels lower than the upper boundary (&gt;70 denotes overbought territory), indicating potential for further upside.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EAnalysts are expecting crude to average $82.45\u002Fbbl in 2023\u003C\u002Fp\u003E\r\n"},"alias":"128464_01092023","publicationDate":{"formatted":"2023-09-01T07:54:00","timestamp":1693554840},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"Will “golden cross” be enough to save the BRENT?","body":{"value":"\u003Cp\u003EOil prices continue to climb away from the \u003Cstrong\u003E$82.00\u003C\u002Fstrong\u003E round number, aided by news today of China’s support for its ailing economy.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ETraders may have also read a bullish sign from the “golden cross” formation - when a lower – 50-period SMA crosses above the higher – 200-period SMA. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"4512d590-d203-4e09-a866-51b2856748d7\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-25_BrentDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe last time the “golden cross” formation could be seen within BRENT – daily chart was in late-September 2020.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAfter the last “golden cross”, BRENT bulls have managed to propel the price by more than 200% up to around\u003Cstrong\u003E $130\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBut despite this positive technical outlook, oil prices may remain under a significant pressure due to:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EVenezuela, holding the world’s largest crude oil reserves, temporarily regaining access to the global oil market as US is considering a “short-term” lift of it’s previously imposed sanctions.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ERecord surge, in almost a decade, of Iranian oil exports to China as China continues to enjoy the discounted prices from it’s heavily-sanctioned “trading partner”.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ELooming uncertainty over the future of the Chinese economy (China – world’s largest crude oil importer) partially fuelled by its troubled property sector. The highly-anticipated speech by Fed Chair Jerome Powell at Jackson Hole later today may well set a major tone as investors are seeking clues on future interest rate policies by the Fed. &nbsp;\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EA confirmed still-hawkish stance on the future interest rate hikes in the US may add additional pressure on BRENT, with a potential for it to move below \u003Cstrong\u003E$80.00\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EOil prices continue to climb away from $82.00 round number.\u003C\u002Fp\u003E\r\n"},"alias":"128422_25082023","publicationDate":{"formatted":"2023-08-25T09:39:00","timestamp":1692956340},"readingTime":"2 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"BRN downturn below $85.00\u002Fbbl","body":{"value":"\u003Cp\u003EAfter hitting a 7-month high at \u003Cstrong\u003E$87.74\u003C\u002Fstrong\u003E last week, BRN bears have retaliated and pushed the price back below the \u003Cstrong\u003E$85.00\u003C\u002Fstrong\u003E round number.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EDue to recent data suggesting an economic slowdown, looming concerns over a potential drop in demand from China, the world’s number one oil consumer, are intensifying the bearish trend. This has been amplified by the strengthening US dollar in the face of possible further policy tightening by the Fed.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBrent is now trading under the 21-SMA for the first time since the beginning of June, but is trying to push back above \u003Cstrong\u003E$85.00\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"5f908a5f-66cc-4041-bbed-8f624efd8129\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-18BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ECore macro-economic data regarding the direction of the Chinese economy and the Fed’s stance at its September meeting will have a major effect on whether the BRN will be able to return and stay above \u003Cstrong\u003E$85.00\u002Fbbl\u003C\u002Fstrong\u003E. Fed Chair Powell is also speaking next week at the Jackson Hole symposium which has been a major risk event in the past.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe 21-day SMA is set to offer near-term resistance, while the Relative Strength Index (RSI) is roughly midway between the upper (70 – overbought) and the lower (30 – oversold) boundary which confirms the market’s current state of “uncertainty”.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EAfter hitting a 7-month high at $87.74 last week, BRN bears have retaliated\u003C\u002Fp\u003E\r\n"},"alias":"128376_18082023","publicationDate":{"formatted":"2023-08-18T09:00:00","timestamp":1692349200},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"The bulls are making plans ","body":{"value":"\u003Ch3\u003E\u003Cstrong\u003ESummary\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENatural Gas breaking above \u003Cstrong\u003E3.064\u003C\u002Fstrong\u003E may send bullish signal\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EFour potential targets identified\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EIf \u003Cstrong\u003E2.502\u003C\u002Fstrong\u003E support is broken, bullish scenario becomes invalid\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ERising tops and bottoms should keep Natural Gas bulls in play.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe bulls in Natural Gas (NatGas) commodity on the D1 time frame are making plans to take over the reins from the bears.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"NatGasDaily_16082023\" data-entity-type=\"file\" data-entity-uuid=\"7d23e799-542c-45b6-81e5-cda2a88e4ede\" src=\"\u002Fstorage\u002Finline-images\u002FNatGasDaily_16082023.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe first signs of this scenario started when the bulls made a higher bottom on 2 August at \u003Cstrong\u003E2.502\u003C\u002Fstrong\u003E and the price proceeded to break through weekly resistance level.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis was further confirmed when a higher top was formed, the Momentum Oscillator broke through the 100-base line into bullish terrain and the MACD, just touching the zero baseline, started gaining upward momentum.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe bears are currently retesting the weekly resistance turned support level in an attempt to thwart the bull’s plans.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EIf the bulls break through the last higher top that formed on 9 August at \u003Cstrong\u003E3.064\u003C\u002Fstrong\u003E, then four targets become possible from there. Attaching a modified Fibonacci tool to the higher top at \u003Cstrong\u003E3.064\u003C\u002Fstrong\u003E and dragging it to the lower bottom at \u003Cstrong\u003E2.502\u003C\u002Fstrong\u003E, the following targets can be determined:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EThe first target is possible at \u003Cstrong\u003E3.289\u003C\u002Fstrong\u003E (Target 1) and this is located just before a weekly resistance level to enable good risk management in case the price cannot break though that level.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe second price target is likely at \u003Cstrong\u003E3.401\u003C\u002Fstrong\u003E (Target 2) if the bulls manage to break through the weekly resistance level at \u003Cstrong\u003E3.391\u003C\u002Fstrong\u003E.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EThe third and fourth targets (Target 3 &amp; 4) are possible if the bulls maintain their momentum.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EIf the support level at \u003Cstrong\u003E2.502\u003C\u002Fstrong\u003E is broken, this scenario is no longer valid.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs long as bulls can keep the upper hand with the demand overcoming supply, the market sentiment for NatGas on the D1 time frame will remain bullish.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n","summary":"\u003Cp\u003ENatural Gas breaking above 3.064 may send bullish signal\u003C\u002Fp\u003E\r\n"},"alias":"128357_16082023","publicationDate":{"formatted":"2023-08-16T10:47:00","timestamp":1692182820},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"BRN bulls made to wait for $90\u002Fbbl","body":{"value":"\u003Cp\u003EOil prices continue to trade above the \u003Cstrong\u003E$85.00\u003C\u002Fstrong\u003E psychological level, hitting a seven-month high at \u003Cstrong\u003E$87.74\u003C\u002Fstrong\u003E last Thursday. The rise came amid the \u003Cstrong\u003Evoluntary supply cuts\u003C\u002Fstrong\u003E extensions made by Russia and Saudi Arabia, \u003Cstrong\u003Eprompting an OPEC forecast for a potential supply deficit\u003C\u002Fstrong\u003E of 2 mln BPD in Q3.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EBut despite the sharp rise earlier this week, an oil price opened lower at \u003Cstrong\u003E$86.09\u003C\u002Fstrong\u003E on Friday amid a technical pullback, as the 14-day relative strength index (RSI) eases away from the 70 threshold which denotes “overbought” conditions.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"2023-08-11_BRNDaily\" data-entity-type=\"file\" data-entity-uuid=\"f5fca69d-5eb9-423a-9535-9d432b113133\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-11_BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe optimistic outlook is built on the assumption that US &amp; China, two major oil consumers, will be able to overcome their economic \u003C\u002Fem\u003E\u003Cem\u003Etroubles and continue to grow, thus supporting the demand for oil. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EBut as China’s July crude imports slid to their lowest in the past sixth month (10.29 mln in July BPD vs 12.67 mln BPD in June) and the persistent concerns surrounding the fate of the US economy, BRN bulls may find it difficult to continue the push towards the \u003Cstrong\u003E$90.00\u003C\u002Fstrong\u003E psychological level.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA potential consolidation may form in the \u003Cstrong\u003E$85.00-$87.00\u003C\u002Fstrong\u003E range. The round number \u003Cstrong\u003E$85.00\u003C\u002Fstrong\u003E level may provide support if the bears try to regain control.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EOil prices continue to trade above the $85.00 psychological level, hitting a seven-month high at $87.74 last Thursday.\u003C\u002Fp\u003E\r\n"},"alias":"128329_11082023","publicationDate":{"formatted":"2023-08-11T10:37:00","timestamp":1691750220},"readingTime":"1 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"Oil rally continues amid tighter supply","body":{"value":"\u003Cp\u003EOil prices continue to rise on\u003Cstrong\u003E Saudi Arabia’s commitment to extend its voluntary production cut of 1 million bbl\u002Fday into September\u003C\u002Fstrong\u003E, with \u003Cstrong\u003ERussia also pledging this week to prolong its production pullback to a lower 300,000 bbl\u002Fday\u003C\u002Fstrong\u003E, (compared to the 500k bpd cut for August)\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThese recent moves come amid the wider OPEC+ agreement to keep the production cap throughout 2024.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"BRNDaily_2023-08-04\" data-entity-type=\"file\" data-entity-uuid=\"29ac8c76-2302-4916-a1af-c229b06aa5c1\" src=\"\u002Fstorage\u002Finline-images\u002FBRNDaily_2023-08-04_0.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAfter a sell-off on Wednesday caused by the downgrade of the US credit rating, the BRN bulls have managed to retaliate and climb above the \u003Cstrong\u003E$85.00\u003C\u002Fstrong\u003E psychologically important level.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EGiven strong support from the announced production cuts, and a possibility for further tightening in the future, the BRN price might continue its upward trend towards the \u003Cstrong\u003E$90.00\u003C\u002Fstrong\u003E psychological level.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EDespite the market’s positive stance on oil prices\u003Cstrong\u003E, BRN may come under pressure if lower-than-expected US NFP stats are posted today\u003C\u002Fstrong\u003E, indicating a potential economic slowdown in the world’s largest oil consumer.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOn the other hand, \u003Cstrong\u003Ea better-than-expected US jobs report may further encourage oil bulls\u003C\u002Fstrong\u003E on this fresh evidence of resilient demand in the world’s largest economy.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective, a potentially strong support level is forming at \u003Cstrong\u003E$85.00-$86.00\u003C\u002Fstrong\u003E. The Relative Strength Index’s (RSI) proximity to the upper boundary (70 – overbought) may signal a potential technical pullback.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EOil prices continue to rise on Saudi Arabia’s commitment to extend its voluntary production cut of 1 million bbl\u002Fday into September.\u003C\u002Fp\u003E\r\n"},"alias":"128287_04082023","publicationDate":{"formatted":"2023-08-04T10:16:33","timestamp":1691144193},"readingTime":"2 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"BRN on track to hit $85.00","body":{"value":"\u003Cp\u003E\u003Cstrong\u003EAn oil prices are set to continue its fifth week of consecutive gains\u003C\u002Fstrong\u003E, following the strong economic data in the US (2.4% GDP in Q2 vs 1.8% expected), an announced stimulus by the Chinese government to boost its struggling economy and a \u003Cstrong\u003Epotential for the OPEC+ to further cut the supply\u003C\u002Fstrong\u003E.&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"BRNDaily_2023-07-28\" data-entity-type=\"file\" data-entity-uuid=\"9ad09db3-b72e-4737-b784-6ee6e1748d11\" src=\"\u002Fstorage\u002Finline-images\u002FBRNDaily_2023-07-28.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe bulls have managed to push the BRN – daily towards the \u003Cstrong\u003E$85.00\u002Fbbl\u003C\u002Fstrong\u003E. A potential consolidation level might form at around \u003Cstrong\u003E$82.00-$84.00\u002Fbbl\u003C\u002Fstrong\u003E. The Relative Strength Index’ (RSI) proximity to 70 may signal a potential technical pullback.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe $85.00 psychological level might be tested in anticipation of the \u003Cstrong\u003EOPEC+ online meeting on 4\u003Csup\u003Eth\u003C\u002Fsup\u003E\u003C\u002Fstrong\u003E of August.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe BRN – daily may climb over \u003Cstrong\u003E$85.00\u003C\u002Fstrong\u003E – the level last seen in mid-April, if:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EThe OPEC+ hints that global demand is still not strong enough to soak up global supplies, and further production cuts may be necessary.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EOn the other hand, the BRN – daily may further consolidate at it’s current level or even be dragged down to the previous cycle high around $81 or even the psychologically-important \u003Cstrong\u003E$80\u002Fbbl mark \u003C\u002Fstrong\u003Eif:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EOPEC+ members assess the supply-demand dynamics as supportive enough for prices, with Saudi Arabia ending its voluntary cuts.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EAn oil prices are set to continue its fifth week of consecutive gains\u003C\u002Fp\u003E\r\n"},"alias":"128235_28072023","publicationDate":{"formatted":"2023-07-28T11:49:00","timestamp":1690544940},"readingTime":"2 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]},{"title":"BRN consolidates around $80 ","body":{"value":"\u003Cp\u003EAfter a rapid rise above $80\u002Fbbl this time last week, amid the production tightening by Russia and Saudi Arabia, oil prices were pushed back and started to consolidate at $78-$81\u002Fbbl.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA smaller-than-expected drop in US crude inventories, weak GDP data from China, and a potential increase in Libya’s production capacity is deterring the bulls from reaching new monthly highs.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003EThe \u003Cstrong\u003EFed’s rate decision next week and guidance on future policy\u003C\u002Fstrong\u003E might have a major effect on \u003Cstrong\u003Ewhether or not the prices stay above $80\u002Fbbl \u003C\u002Fstrong\u003Eor even ultimately reach the next psychologically important $87.0 level.\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"BRNDaily_2023-07-21\" data-entity-type=\"file\" data-entity-uuid=\"b0f97db8-4722-4496-87ce-3007c0b8675d\" src=\"\u002Fstorage\u002Finline-images\u002FBRNDaily_2023-07-21.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThere’s a strong gravitational pull around the psychologically-important $80\u002Fbbl level, as oil markets await the next catalyst.&nbsp;\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThat catalyst might come in the form of the\u003Cstrong\u003E Fed confirming the pause\u003C\u002Fstrong\u003E on interest rate hikes in the next cycle, and BRN&nbsp; might very well reach the \u003Cstrong\u003E200-period SMA.&nbsp;\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, if the Fed signals its intent to push ahead with\u003Cstrong\u003E another rate hike after July\u003C\u002Fstrong\u003E, that could see \u003Cstrong\u003EBRN re-testing the 100-day SMA for support.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThere’s a strong gravitational pull around the psychologically-important \u003Cstrong\u003E$80\u002Fbbl\u003C\u002Fstrong\u003E level, as oil markets await the next catalyst.\u003C\u002Fp\u003E\r\n"},"alias":"128182_21072023","publicationDate":{"formatted":"2023-07-21T10:27:58","timestamp":1689935278},"readingTime":"2 min","author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"tags":[]}],"securities":[{"title":"SPX500_m still in limbo below 4500.","body":{"value":"\u003Cp\u003EThe S&amp;P 500 has remained relatively unchanged, consolidating further in between the 21-period SMA &amp; its 50-day counterpart.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe benchmark US stock index has found it hard to resurface above the psychologically-important \u003Cstrong\u003E4500\u003C\u002Fstrong\u003E, as markets are still assessing \u003Cstrong\u003Ewhether yesterday’s CPI reading would keep the Fed on the hawkish trajectory\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"3baa5d0f-bb72-4724-ae5f-2cec4946436d\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-14_SPX500_mDaily_0.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe August consumer price index (CPI) increased to 3.7% year-on-year (vs 3.6% expected) while the core CPI month-on-month (August vs. July 2023) grew 0.3%, slightly higher than the expected 0.2%.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThis was the first uptick in the core CPI MoM reading since February.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EDespite an increase in consumer prices, the market expects a \u003Cstrong\u003E97% chance\u003C\u002Fstrong\u003E of no rate hike at the Fed’s meeting next Wednesday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAnd while the markets seem confident about a “no hike” scenario at the upcoming Fed’s decision next week, investors will pay a very \u003Cstrong\u003Eclose attention to any further macro-economic developments \u003C\u002Fstrong\u003Ewith a potential to reaffirm one more hike in November.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EFor the moment, the market expects a \u003Cstrong\u003E39%\u003C\u002Fstrong\u003E chance of a rate hike at the Fed’s meeting in November. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective the 50-period SMA is set to act as an immediate resistance at \u003Cstrong\u003E4487\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETo the downside, the 21-period SMA might prove to be a strong support level if the SPX500_m bears gain enough momentum to reverse towards psychologically important \u003Cstrong\u003E4400\u003C\u002Fstrong\u003E, with a potential pit stop at last Thursday’s (September 7\u003Csup\u003Eth\u003C\u002Fsup\u003E) Intraday low of \u003Cstrong\u003E4431.4\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EMarkets still uncertain about Fed’s next move following mixed US CPI data.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128559_14092023","publicationDate":{"formatted":"2023-09-14T07:06:00","timestamp":1694675160},"readingTime":"2 min","tags":[]},{"title":"UK FTSE 100 near critical levels","body":{"value":"\u003Cp\u003EThese hasn’t been much top tier macro data out of the UK recently, but this hots up \u003Cstrong\u003Enext week with the all-important jobs and wage growth figures, ahead of UK CPI\u003C\u002Fstrong\u003E data the following week which will play a huge part in the Bank of England rate decision a day later.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, we have heard from various BoE officials on the wires with comments yesterday impacting rate expectations. Governor Bailey and MPC member Cunliffe both sounded somewhat \u003Cstrong\u003Edovish\u003C\u002Fstrong\u003E even without fellow colleague Dhingra who continued to defend her dissension against recent rate hikes.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe former said \u003Cstrong\u003Emany indicators signal a fall in inflation\u003C\u002Fstrong\u003E which will be quite marked.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBailey also said the \u003Cstrong\u003EMPC is no longer in a phase where it is clear that rates need to rise\u003C\u002Fstrong\u003E, and \u003Cstrong\u003Erates were much nearer to their peak\u003C\u002Fstrong\u003E. He reiterated that the bank is now data-driven as policy is restrictive.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EMarekts are now for the first time questioning if the bank will hike rates at all in a few weeks’ time. \u003Cstrong\u003EInterest rate pricing for that meeting has now fallen below 20bps\u003C\u002Fstrong\u003E so there is \u003Cstrong\u003Emore than a material chance (20%) of policymakers standing pat\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;All eyes will be on the price data to come in the next few weeks.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"bf8e7a8f-17e4-4dca-a9b1-62a3185c83a3\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-07_UK100_mDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EFTSE rolling over\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EHow this effects the UK’s main equity index comes in different ways. The index is made up of \u003Cstrong\u003Einterest rate sensitive stocks\u003C\u002Fstrong\u003E like banks, insurers and homebuilders. That means if the BoE are gearing up for a “higher rates for longer” rates theme, then this will impact those heavyweight stocks.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIndeed, Chief Economist Pill said recently that he preferred a \u003Cstrong\u003E“Table Mountain” profile for UK rates\u003C\u002Fstrong\u003E, where they remained moderately high for some time rather than escalating rapidly and then dropping quickly.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EOn the flip side, a \u003Cstrong\u003Efalling pound is good for many of the index constituents\u003C\u002Fstrong\u003E as over 70% of the companies listed earn their revenues overseas. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThese include the oil majors, energy and mining companies.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThat said, the surfeit of value stocks means there is a severe lack of tech companies which has resulted in the FTSE 100 missing out on the mega rally in AI-related stocks this year which has fueled the broader indices across the pond. \u003Cstrong\u003EThe UK index is in the red so far in 2023\u003C\u002Fstrong\u003E while the Nasdaq is close to 40% higher.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETechnically, prices are nearing the midpoint of the October rally from last year at \u003Cstrong\u003E7377\u003C\u002Fstrong\u003E. The index has dropped below here briefly on three occasions this year in March, July, and August. \u003Cstrong\u003EMomentum indicators have turned lower\u003C\u002Fstrong\u003E so sellers may target the next Fib level at \u003Cstrong\u003E7219\u003C\u002Fstrong\u003E and those three bottoms around \u003Cstrong\u003E7200\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EMomentum indicators have turned lower\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128507_07092023","publicationDate":{"formatted":"2023-09-07T08:21:00","timestamp":1694074860},"readingTime":"2 min","tags":[]},{"title":"Benchmark US stock index back in bullish channel","body":{"value":"\u003Cp\u003EIt’s been a classic few weeks of summer trading in the major US stock indices with markets yo-yoing between bearish and bullish drivers.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThere is plenty of precedence to back the belief that price action during August needs to be taken with a \u003Cstrong\u003Ehealthy dose of scepticism until markets transition toward\u003C\u002Fstrong\u003E what often turns out to be more difficult conditions through which to navigate.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ERisk markets have swung between \u003Cstrong\u003Erisk-on and risk-off sentiment\u003C\u002Fstrong\u003E. One minute, the prevailing narrative has been about the US ratings downgrade and abundant Treasury supply that will cast a big shadow over everything.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe next minute, things aren’t so bad, and the US can get away with it, which it does a lot in global markets.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe key theme remains around inflation, as it has been for some time and whether it has been tamed or will prove more stubborn than previously thought. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThis will no doubt be at the forefront of central bankers’ minds as they sit down for their meetings over the next month.\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EBad news is good news\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EThis week, markets breathed a sigh of relief (or maybe it’s just summer markets) on softer than expected data.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe sharp decline in the monthly JOLTS job openings propelled the S&amp;P 500 higher, as it enjoyed its \u003Cstrong\u003Ebiggest one-day gain\u003C\u002Fstrong\u003E in nearly three months on Tuesday.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe data showed that demand for labour is starting to level off ad wage growth pressures are easing which is undoubtedly good news for the Fed and potentially stocks too. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ESofter \u003Cstrong\u003EADP employment figures also helped\u003C\u002Fstrong\u003E the bulls yesterday. The most \u003Cstrong\u003Eaggressive monetary policy tightening\u003C\u002Fstrong\u003E in decades may finally be having an effect on the labour market.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EUS consumer sentiment also showed \u003Cstrong\u003Esigns of weakening\u003C\u002Fstrong\u003E in both the current situation and the future expectations component. This is similar to signals in the PMIs and other surveys.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAgain, this is good news in a sense for policymakers as there is less pressure to lift rates again. It also shows how important \u003Cstrong\u003EUS activity data is as a driver for markets\u003C\u002Fstrong\u003E, while it intensifies the focus on the monthly non-farm payrolls report released tomorrow.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"ba9b0259-59e2-434e-851d-6f5f237bb063\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-31_SPX500_mDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003ETech bouncing\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003ETechnology stocks had been suffering heavily over the last few weeks on the back of \u003Cstrong\u003Erampant Treasury yields\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThese types of companies offer the \u003Cstrong\u003Epromise of high future growth which is more attractive when interest rates are low\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EHigher yields mean investors can obtain decent returns in lower-risk bond funds and sell their riskier equity positions. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EElevated rates also weigh on tech companies as \u003Cstrong\u003Ethey mostly rely on debt\u003C\u002Fstrong\u003E to finance their growth.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOn the charts, the benchmark S&amp;P 500 broke down through its bullish channel from the mid-March lows a few weeks ago.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe 50-day simple moving average at \u003Cstrong\u003E4472\u003C\u002Fstrong\u003E was also pierced, but that was retaken on Tuesday, and we are back again in the long-term ascending channel. The late July high at \u003Cstrong\u003E4611\u003C\u002Fstrong\u003E is less than 100 points away.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ERisk markets have swung between risk-on and risk-off sentiment.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128455_31082023","publicationDate":{"formatted":"2023-08-31T09:33:00","timestamp":1693474380},"readingTime":"3 min","tags":[]},{"title":"Will Nvidia earnings push stock to record high?","body":{"value":"\u003Cp\u003EYesterday (Tuesday, August 22\u003Csup\u003End\u003C\u002Fsup\u003E), Nvidia’s share prices came within 27 US cents of its highest-ever intraday high of $480.30 registered on July 18\u003Csup\u003Eth\u003C\u002Fsup\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EThis AI-chipmaker’s \u003Cstrong\u003Eearnings\u003C\u002Fstrong\u003E due after US markets close today (\u003Cstrong\u003EWednesday, August 23\u003Csup\u003Erd\u003C\u002Fsup\u003E\u003C\u002Fstrong\u003E) may well be the catalyst for an outright new record high for this stock!\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHere’s what markets are expecting from Nvidia’s Q2 FY24 (3 months ending July 31\u003Csup\u003Est\u003C\u002Fsup\u003E):\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ERevenue = US$ 11.04 billion\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E(If so, this would be a record high for Nvidia’s quarterly revenue, while also marking a 53.5% quarter-on-quarter jump)\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EAdjusted net income = US$ 5.2 billion\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E(If so, this would be a record high for Nvidia’s quarterly net income, while also marking a 139% quarter-on-quarter surge!)\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EAdjusted earnings per share (EPS) = US$2.07\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EAs for the immediate reaction, the options market currently predicts a \u003Cstrong\u003Esingle-day move of 10.4%, either up or down\u003C\u002Fstrong\u003E, for Nvidia on \u003Cstrong\u003EThursday\u003C\u002Fstrong\u003E (August 24\u003Csup\u003Eth\u003C\u002Fsup\u003E) - when US markets re-open the day after this highly-anticipated earnings release.\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EOf course, whether this sock moves up or down on Thursday and beyond would depend greatly on whether Nvidia can further excite, or disappoint, markets with its numbers from recent past, as well as its outlook for future earnings.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EUltimately, stock markets around the world, from the US to China, are eager to find out whether the \u003Cstrong\u003EAI-boom still has legs\u003C\u002Fstrong\u003E to it over the short-term.\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EIf Nvidia can prove later today that the AI-mania is not mere hype, and that the artificial intelligence rush is translating into a \u003Cstrong\u003Esustained tide of incoming revenue and profits, that should easily translate into a new record high for the stock this week.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EStill, a lot of optimism has already been baked into Nvidia’s stock prices.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn light of the expected spikes for Nvidia’s top and bottom lines, no wonder it’s been the \u003Cstrong\u003Etop performing component of the S&amp;P 500 index\u003C\u002Fstrong\u003E, with this stock \u003Cstrong\u003Eclimbing 212.5% so far in 2023!\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EBut this stock’s surge also implies that the bar is set high for a massive upside surprise today.\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ERecall how this stock exploded higher following Nvidia’s prior earnings release on May 24\u003Csup\u003Eth\u003C\u002Fsup\u003E, as markets front-ran the anticipated earnings boost from AI.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHence, it remains to be seen whether Nvidia has enough to keep stoking the AI-mania, or risk deflating such exuberance and prompt some profit-taking of the stock’s already eye-watering gains.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ELooking further out …\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOver the next 12 months, analysts surveyed by Bloomberg have a median target price of \u003Cstrong\u003E$520.85\u003C\u002Fstrong\u003E for Nvidia shares.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EThat implies a \u003Cstrong\u003Efurther 14% in potential gains,\u003C\u002Fstrong\u003E from current levels, over the next year.\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAnd it’s not just other US chipmakers that could feel the positive spillovers.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EEven tech stocks in Asia could be subject to the ripple effects out of Nvidia’s earnings.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ELooking at the price charts …\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe psychologically-important \u003Cstrong\u003E$480.00\u003C\u002Fstrong\u003E level has proven to be stern \u003Cstrong\u003Eresistance \u003C\u002Fstrong\u003Eof late.&nbsp;However, another positive shocker should easily see $480 resistance conquered.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIf the 10.4% projected post-earnings move materialises to the \u003Cstrong\u003Eupside\u003C\u002Fstrong\u003E, using Tuesday’s closing price as the reference point, that suggests that Nvidia’s shares could even trade above \u003Cstrong\u003E$500 at Thursday’s open!\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch4\u003E\u003Cem\u003EAlready, the \u003Cstrong\u003Elargest single position in options\u003C\u002Fstrong\u003E are \u003Cstrong\u003Estrike calls\u003C\u002Fstrong\u003E at \u003Cstrong\u003E$500\u003C\u002Fstrong\u003E expiring on August 25\u003Csup\u003Eth\u003C\u002Fsup\u003E!\u003C\u002Fem\u003E\u003C\u002Fh4\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHowever, if the 10.4% projected post-earnings move materialises to the \u003Cstrong\u003Edownside\u003C\u002Fstrong\u003E, Nvidia could begin Thursday’s session closer to the psychologically-important \u003Cstrong\u003E$400 \u003C\u002Fstrong\u003Emark.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ENvidia bulls will be hoping that \u003Cstrong\u003Eimmediate support\u003C\u002Fstrong\u003E will arrive via the \u003Cstrong\u003Erising lower trendline\u003C\u002Fstrong\u003E that commenced since May’s “gap up” (after its previous quarterly earnings).\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Will Nvidia earnings push stock to record high?\" data-entity-type=\"file\" data-entity-uuid=\"d3c5576e-134d-4576-a850-c99fcae5824f\" src=\"\u002Fstorage\u002Finline-images\u002FNVIDIADaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe options market currently predicts a single-day move of 10.4%, either up or down, for Nvidia on Thursday (August 24\u003Csup\u003Eth\u003C\u002Fsup\u003E) - when US markets re-open the day after this highly-anticipated earnings release.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128402_23082023","publicationDate":{"formatted":"2023-08-23T05:02:17","timestamp":1692766937},"readingTime":"5 minutes","tags":[]},{"title":"UK Index suffering as policy tightening looms","body":{"value":"\u003Cp\u003EWe’ve had plenty of data to watch over the last few days in the UK with job numbers and the all-important inflation figures hitting our screens this week, while retail sales wrap up the mid-month deluge.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe Bank of England doesn’t meet until late September before which we get another set of this data.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBut markets have baked in another \u003Cstrong\u003E25bps\u003C\u002Fstrong\u003E rate hike in a few weeks’ time, with two more quarter-point moves predicted by February next year.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe September odds have been cemented by yesterday’s CPI with the headline falling but still more than three times the \u003Cstrong\u003EBank of England’s 2% target\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ECrucially, the core measure, which strips out volatile food and energy costs, remained unchanged at \u003Cstrong\u003E6.9%\u003C\u002Fstrong\u003E while core services ticked up to \u003Cstrong\u003E7.2%\u003C\u002Fstrong\u003E. \u003Cstrong\u003EThese gauges are a key focus for policymakers\u003C\u002Fstrong\u003E as they highlight that underlying price pressures are still sticky.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAlong with relatively hot wage growth released on Tuesday (we note the jobless rate did tick up above \u003Cstrong\u003E4%\u003C\u002Fstrong\u003E), there are renewed expectations on the BoE to keep raising rates even though policy is now seen as restrictive.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"02496db2-a461-41dd-abdd-14ddedb9db9b\" src=\"\u002Fstorage\u002Finline-images\u002FFTSE100Daily_2.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cbr \u002F\u003E\r\n\u003Cstrong\u003EFTSE 100 summer doldrums\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EThe UK’s main index has dropped close to \u003Cstrong\u003E400 points\u003C\u002Fstrong\u003E or \u003Cstrong\u003E5%\u003C\u002Fstrong\u003E in the matter of three weeks. This comes on the back of it failing to keep up with other major global stock indices this year.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe FTSE 100 just about finished the first half in the green., but compare that to the Nasdaq’s \u003Cstrong\u003E32%\u003C\u002Fstrong\u003E gain, the S&amp;P 500 moving \u003Cstrong\u003E16%\u003C\u002Fstrong\u003E higher and the Dax adding \u003Cstrong\u003E14%\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe index is made up of interest rate sensitive stocks like banks, homebuilders, and insurers which means stubborn CPI and rising interest rates have been a big drag. The current theme of higher rates for longer will also impact.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAdd oil majors, energy and mining companies to the mix and it is not hard to see why there has been underperformance. This is especially \u003Cstrong\u003Edue to the lack of tech stocks\u003C\u002Fstrong\u003E which have fuelled the US rally.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EA majority of these big-cap stocks also derive their earnings from overseas. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThat means a relatively strong pound will potentially hurt their results going forward. Prices recently fell below the midpoint of the October rally from last year at \u003Cstrong\u003E7377.8\u003C\u002Fstrong\u003E. The index has only dropped below here briefly on two occasions this year, in March and July.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIf buyers do step in, they will aim for \u003Cstrong\u003E7500\u003C\u002Fstrong\u003E with the 50-day simple moving average just above at \u003Cstrong\u003E7513\u003C\u002Fstrong\u003E. That said, momentum indicators are not oversold so shorts may target the July lows and the March spike trough above and below \u003Cstrong\u003E7200\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EMarkets have baked in another 25bps rate hike\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128374_18082023","publicationDate":{"formatted":"2023-08-18T07:23:00","timestamp":1692343380},"readingTime":"3 min","tags":[]},{"title":"SPX500_m slight rebound ahead of US CPI","body":{"value":"\u003Cp\u003EMarkets are bracing themselves ahead of the US CPI data to be released later today.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe SPX500_m hit a weekly low \u003Cstrong\u003E(4461.8)\u003C\u002Fstrong\u003E on Wednesday but has managed to rebound to \u003Cstrong\u003E4476.1\u003C\u002Fstrong\u003E by the end of the day as investors prepare for the important inflation data to be published.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThe current market expectations for the July Inflation are:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECore CPI to be unchanged at \u003Cstrong\u003E0.2%\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EYoY CPI to increase to 3.3%, rising by 30 basis points faster compared to \u003Cstrong\u003E3.0%\u003C\u002Fstrong\u003E YoY in June)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EMoM headline and core CPI to be unchanged at \u003Cstrong\u003E0.2%\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EHow could the SPX500_m react to the US CPI report?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAny overshoot of the forecasted values may increase chances for another interest rate hike by the Fed. \u003Cstrong\u003EThis could potentially drag the SPX500_m down\u003C\u002Fstrong\u003E towards the \u003Cstrong\u003E4400.0\u003C\u002Fstrong\u003E psychologically important level.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EOn the flip side, if the CPI data remains unchanged\u002Flower than expected, \u003Cstrong\u003Ethe SPX500_m bulls may catch a strong momentum\u003C\u002Fstrong\u003E, potentially driving the price towards last week’s high at the \u003Cstrong\u003E4600.0\u003C\u002Fstrong\u003E psychological level.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EMeanwhile, Fed officials have been sending mixed signals about their stance on future interest rate policy:\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAccording to the CME FedWatch Tool, \u003Cstrong\u003Ethe market expects an 86.5% chance of no rate hike\u003C\u002Fstrong\u003E at the Fed’s next meeting in September.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003E\u003Cimg alt=\"2023-08-10_SPX500_mDaily\" data-entity-type=\"file\" data-entity-uuid=\"03aee5ae-ea19-4a42-9be1-8940b59b3ec7\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-10_SPX500_mDaily.png\" \u002F\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective the SPX500_m has been consolidating below the 21-period SMA. The Relative Strength Index (RSI) is positioned in the middle \u003Cstrong\u003E(49.34) \u003C\u002Fstrong\u003Eof the two boundaries (&gt;70% - overbought, &lt;30% - oversold), indicating a balance between the bulls and bears waiting for the catalyst to occur.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA 50-period SMA lies slightly lower to potentially offer initial support. The 21-period SMA may turn to be a strong resistance level, depending on the strength of the potential upward momentum stemming from today’s CPI report.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ESPX500_m slight rebound ahead of the US CPI\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128318_10082023","publicationDate":{"formatted":"2023-08-10T09:05:00","timestamp":1691658300},"readingTime":"2 min","tags":[]},{"title":"Can US jobs report stop SPX500_m’s slide?","body":{"value":"\u003Cp\u003EThe US market has just experienced the largest single-day drop since April, bringing \u003Cstrong\u003ESPX500_m – daily down 2.1% on Wednesday from 2023’s intraday highs of 4611.4\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003E“Amid this selloff, markets are also keeping a wary eye on Friday’s US nonfarm payrolls report.”\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe headline number is forecasted to come in at \u003Cstrong\u003E200,000\u003C\u002Fstrong\u003E. If so, that would mark its lowest number of new jobs added to the US economy since before the pandemic.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe July unemployment rate is expected to hold steady at \u003Cstrong\u003E3.6%\u003C\u002Fstrong\u003E, while wage growth is slated to have eased slightly last month.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EA stronger-than-expected US jobs report tomorrow may worsen the selloff for the SPX500_m, as markets fear that a resilient US jobs market would embolden more Fed rate hikes.\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EHowever, signs of further cooling in the US labour market may help the SPX500_m pare down recent declines.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhat contributed to the recent selloff?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EA surprise downgrade of the US credit rating along with a stronger than expected ADP Nonfarm Employment report made investors wary if whether the Fed will be able to maintain the pause on the future interest hikes.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe timing of the US credit rating downgrade coincided with an announced increase in bond sales by the US Treasury. The latter pushed the 10-year bond yields to as high as 4.16%, reaching November 2023 highs (yields go up when the bond prices go down).\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThis climb in yields thus forced some investors to retreat from the high-risk assets such as stocks.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"SPX500_mDaily_2023-08-03\" data-entity-type=\"file\" data-entity-uuid=\"60a6ce1f-5e3f-4138-8be2-a63e01c1944a\" src=\"\u002Fstorage\u002Finline-images\u002FSPX500_mDaily_2023-08-03.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe S&amp;P 500 bulls could not sustain the upward momentum amid the rising uncertainty regarding the Fed’s future interest rate policy. After briefly moving beyond \u003Cstrong\u003E4600\u003C\u002Fstrong\u003E psychological level, SPX500_m – daily experienced a sharp decline, penetrating the 21-SMA.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe Relative Strength Index (RSI) lies at \u003Cstrong\u003E51.5\u003C\u002Fstrong\u003E – right in the middle of the upper and lower boundary (70 – overbought; 30 – oversold), reflecting the market’ current state of uncertainty.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAs earnings season continue, with Apple and Amazon to post Q3 results later today, the SPX500_m – daily might experience some additional volatility.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EPotential support levels:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFurther declines for SPX500_m may invite bears to test these immediate support levels:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E4450 region: resistance area for previous two cycle highs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E50-day simple moving average (SMA)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E4382.0: mid-July cycle low\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EHowever, a set of better-than-expected Big Tech earnings and forward guidance, along with a weaker-than-expected NFP report, may restore SPX500_m back closer to its year-to-date high.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe US market has just experienced the largest single-day drop since April, bringing SPX500_m – daily down 2.1% on Wednesday from 2023’s intraday highs of 4611.4.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128283_03082023","publicationDate":{"formatted":"2023-08-03T11:02:42","timestamp":1691060562},"readingTime":"2 min","tags":[]},{"title":"This Week: Can NQ100_m breach 16,000?","body":{"value":"\u003Cp\u003EBuckle up, strap yourselves in and get ready for a gargantuan week of central bank meetings and major data points, plus earnings from some of the biggest companies on the planet:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, July 24\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Japan July PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone July PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK July PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US July PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ENasdaq “special rebalancing”\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, July 25\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EEUR: Germany IFO business climate\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US July consumer confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003ENDX: Microsoft and Alphabet earnings\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, July 26\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAUD: Australia 2Q CPI\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: Fed rate decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EMeta earnings\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, July 27\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECNH: China June industrial profits\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EEUR: European Central Bank rate decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: US 2Q GDP\u003C\u002Fstrong\u003E; \u003Cstrong\u003Eweekly jobless claims\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, July 28\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EJPY: Bank of Japan rate decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Australia June retail sales\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Germany July CPI; Eurozone July consumer and economic confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US June PCE deflator, personal income and spending\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: Canada May GDP\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EThe week kicks off with a “special rebalancing” for the Nasdaq 100, which is the underlying index that’s tracked by the NQ100_m.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EThe index-provider, Nasdaq, is set to slash the weightage of its seven largest constituents (Tesla, Google, Microsoft, Apple, Nvidia, Amazon &amp; Meta) from 55.1% down to 43.7% on Monday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn turn, this rearrangement might give a share price boost to other, less heavy companies in the index such as Starbucks, Mondelez International, Booking Holdings, Gilead Sciences, Intuitive Surgical, Analog Devices &amp; Automatic Data Processing.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs funds worth hundreds of billions of US dollars shift their allocations to mirror the new weightings, that may trigger significant volatility for the Nasdaq 100 index.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003ECentral bank watch\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EAs temperatures around the world pick up, the intense heat is now on policymakers from three of the biggest G10 central banks (Fed, ECB, BoJ) to direct markets over the next month or so.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe key calendar event will be on the mid-week \u003Cstrong\u003EFOMC meeting.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFed is expected to raise the upper bound of its benchmark interest rates up to 5.50% from the current 5.25%.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe wider market is guided by the idea of it to be the last increase, even though\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EIf the Fed leaves the door wide open to further rate hikes, that could prompt a shudder through risk assets, including the NQ100_m.\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EOn the other hand, if the Fed Chair Jerome Powell leans in to market expectations that peak US interest rates will be achieved after this week, that could send a risk-on wave coursing through global financial markets, likely to the benefit of NQ100_m bulls (those hoping prices could go higher).\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EBig Tech earnings\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EAlphabet, Microsoft and Meta\u003C\u002Fstrong\u003E are due to release their respective Q2 results, noting that these three&nbsp;companies have a combined \u003Cstrong\u003Emarket cap\u003C\u002Fstrong\u003E of about \u003Cstrong\u003EUS$ 4.7 trillion.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ENote that Big Tech stocks has been one of the major drivers of the overall market growth so far this year, driven by the AI-mania, and has confounded many stock market doomsters with the outsized gains seen already this year.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EHence, the market’s collective response to these earnings results out of Alphabet, Microsoft and Meta in the coming days may sway the broader NQ100_m.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhere to next for NQ100_m?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EFor \u003Cstrong\u003ENQ100_m bulls, \u003C\u002Fstrong\u003Ethe psychologically-important \u003Cstrong\u003E16,000 \u003C\u002Fstrong\u003Eis the obvious target in the case of a risk-on scenario.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ETo the downside, should the Fed’s policy signals, Big Tech earnings, as well as post-rebalancing price action force an unwinding of recent gains, NQ100_m bears may re-test the \u003Cstrong\u003E15,300 region for support.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EShould that 15,300 region fail to hold, noting that’s where recent cycle highs as well as the 21-day simple moving average (SMA) currently reside, then the previous cycle low at \u003Cstrong\u003E14,933.8\u003C\u002Fstrong\u003E may offer stronger support, noting that would mark a drop of over 3%.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Can NQ100_m breach 16,000 this week?\" data-entity-type=\"file\" data-entity-uuid=\"acf49070-0a90-444b-89ba-51a72a373a38\" src=\"\u002Fstorage\u002Finline-images\u002FNQ100_mDaily_10.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EGet ready for a gargantuan week of central bank meetings and major data points, plus earnings from some of the biggest companies on the planet.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128193_24072023","publicationDate":{"formatted":"2023-07-24T11:01:34","timestamp":1690196494},"readingTime":"5 minutes","tags":[]},{"title":"SPN35_m tests 9500 resistance ahead of Spanish elections","body":{"value":"\u003Cp\u003EAt the time of writing, the SPN35_m index is looking to break beyond the 9500 level once more.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis stock index has&nbsp;traded in what appears to be an\u003Cstrong\u003E ascending triangle pattern since March:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003Eforming higher lows in recent months\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003Ethe imminent 9500 round number level has proven to offer stern resistance for the most part, barring a brief foray above that psychologically-important line coming into July.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EUsing the textbook definition, the three daily closes above 9500 in the final days of June may have initially been interpreted as confirmation of the upside break.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHowever, given that it was not accompanied by a volume spike (the second crucial component needed to confirm the break), such price action from a few weeks ago proved to be a\u003Cstrong\u003E head fake\u003C\u002Fstrong\u003E, at least for the time being.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EStill, the SPN35_m index has found \u003Cstrong\u003Estrong support at its 100-day simple moving average\u003C\u002Fstrong\u003E (SMA), leaving bulls (those hoping that prices will move higher) primed to take advantage of any positive catalyst to punch higher, sustainably.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"SPN35_m tests 9500 resistance ahead of Spanish elections\" data-entity-type=\"file\" data-entity-uuid=\"ec9e60b4-d4db-4427-9df0-6d68d86bd66b\" src=\"\u002Fstorage\u002Finline-images\u002FSPN35_mDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003ENOTE: The SPN35_m tracks the IBEX 35 index, which is the official index of the Spanish Continuous Exchange.\u003Cbr \u002F\u003E\r\nThis benchmark index for the Spanish stock market is made up of the 35 most liquid stocks traded on the Continuous market.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EAnd such a catalyst may arrive this weekend!\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ESpain, the fourth largest economy in the euro area, is due to hold a snap \u003Cstrong\u003Egeneral election\u003C\u002Fstrong\u003E on Sunday, July 23\u003Csup\u003Erd\u003C\u002Fsup\u003E.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe national polls will pit \u003Cstrong\u003EAlberto Nunez Feijoo, \u003C\u002Fstrong\u003Ethe leader of the People’s Party (PP), against incumbent \u003Cstrong\u003EPrime Minister Pedro Sanchez\u003C\u002Fstrong\u003E of the Spanish Socialist Workers’ Party (Socialists).\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003EAccording to recent surveys, Feijoo’s People’s Party are favourites to win this Sunday’s general elections.\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ESanchez’s hopes for re-election are being severely curtailed by the economic woes, with food prices rising by over 10%, growth rate that lags its European peers, and thinning disposable income among households that’s 2.4% lower than pre-pandemic times.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThough to be fair, headline CPI (consumer pirce index) – which measures broader inflation - &nbsp;actually fell in June to 1.9%. That’s below the European Central Bank’s 2% target.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EStill, neither the PP nor the Socialists appear&nbsp;to be able to gain an outright majority, and may have to rely on a coalition involving other parties.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhat do stock bulls&nbsp;want?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003EBroadly speaking, the market-friendly outcome appears to be a political shift to the right. \u003Cstrong\u003EOr simply put, Feijoo wins.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EAnd here’s a key reason why.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe incumbent Sanchez administration rolled out a windfall tax on banks last year.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis tax is due to expire by 2024, though the current government had&nbsp;thought about making it permanent.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003ENote that \u003Cstrong\u003Efinancial stocks\u003C\u002Fstrong\u003E are the largest sector represented on the IBEX 35, accounting for \u003Cstrong\u003E28.5% of the index.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHence, markets are set to look kindly on this tax being removed by 2024 by a new government.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cstrong\u003ESuch optimism may then send the SPN35_m surging past the 9500 mark.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EOn the other hand, the\u003Cstrong\u003E SPN35_m may be dragged lower\u003C\u002Fstrong\u003E on a win by the incumbents, or a political deadlock that brings about months of wrangling among parties, perhaps even repeat elections, leaving the Spanish economy rudderless at the hands of a lame-duck government in the interim.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cem\u003E\u003Cstrong\u003ENow, a special note for Alpari clients:\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EDue to the Spanish General Election on Sunday 23rd July, we’ll be temporarily changing our margin requirement for the instruments, IBEX35 and SPN35_m from 1:200 to \u003Cstrong\u003E1:50\u003C\u002Fstrong\u003E.\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nThis change will be effective from \u003Cstrong\u003EFriday, 21st July (before market open) to Monday, 24th July\u003C\u002Fstrong\u003E. However, we may extend this depending on market conditions.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EIf you have any open positions on the above-mentioned instruments, please consider your trading strategy and make sure you have enough funds in your account to cover the new margin requirements.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EIf you have any questions about this or need help with your account, please do not hesitate to contact us.\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\n&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EBroadly speaking, the market-friendly outcome appears to be a political shift to the right. \u003Cstrong\u003EOr simply put, Feijoo wins.\u003C\u002Fstrong\u003E\u003C!--[if !supportLineBreakNewLine]--\u003E\u003Cbr \u002F\u003E\r\n\u003C!--[endif]--\u003E\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128168_20072023","publicationDate":{"formatted":"2023-07-20T10:17:20","timestamp":1689848240},"readingTime":"5 minutes","tags":[]},{"title":"Can WSt30_m hit new 2023 high on Friday?","body":{"value":"\u003Cp\u003EThe WSt30_m, which tracks the benchmark Dow Jones Industrial Average index, has already posted a new year-to-date intraday high yesterday (Wednesday, July 12\u003Csup\u003Eth\u003C\u002Fsup\u003E).\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe Dow Jones Industrial Average is an index that tracks 30 stocks that are industry leaders in the US economy, including the likes of Microsoft, McDonald’s, and Chevron.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Can WSt30_m hit new 2023 high on Friday?\" data-entity-type=\"file\" data-entity-uuid=\"19499481-b45a-4c75-b956-09499fc226db\" src=\"\u002Fstorage\u002Finline-images\u002FWSt30_mDaily_3.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EWednesday’s spike came as risk assets were buoyed by the \u003Cstrong\u003Elower-than-expected growth in US consumer price indices:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ECPI month-on-month (June 2023 vs. May 2023) = 0.2%\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E\u003Cstrong\u003E- lower than market forecast of 0.3%\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECore CPI (excluding food and energy prices) month-on-month = 0.2%\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E\u003Cstrong\u003E- lower than market forecast of 0.3%\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECPI year-on-year (June 2023 vs. June 2022) = 3.0%\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E\u003Cstrong\u003E- lower than market forecast of 3.1%\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECore CPI year-on-year = 4.8%\u003Cbr \u002F\u003E\r\n\t\u003Cem\u003E- \u003Cstrong\u003Elower than market forecast of 5.0%\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EIn light of the recent slowdown in US inflation, markets now have greater hope that the Fed rate hikes&nbsp;that began in 2022 will soon be over:\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAs of Tuesday, \u003Cstrong\u003EJuly 11\u003Csup\u003Eth\u003C\u002Fsup\u003E\u003C\u002Fstrong\u003E, markets had predicted a \u003Cstrong\u003E43%\u003C\u002Fstrong\u003E chance of another Fed rate hike after July.\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAs of the time of writing on Thursday, \u003Cstrong\u003EJuly 13\u003Csup\u003Eth\u003C\u002Fsup\u003E\u003C\u002Fstrong\u003E, markets now predict only a \u003Cstrong\u003E13% \u003C\u002Fstrong\u003Echance of another Fed rate hike after July\u003Cbr \u002F\u003E\r\n\t(between next month and end-2023).\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhat’s next for WSt30_m index?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003ELook out for US earnings season, which unofficially kicks off tomorrow (Friday, July 14\u003Csup\u003Eth\u003C\u002Fsup\u003E).\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EInvestors and traders will be treated to a slew of quarterly earnings out of Wall Street heavyweights such as JPMorgan, Wells Fargo, and Citigroup.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EWhy are these bank earnings important?\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EFrom the Dow index’s perspective, note that JPMorgan alone accounts for 2.8% of the Dow index, while Goldman Sachs (which is due to release its own earnings on July 19\u003Csup\u003Eth\u003C\u002Fsup\u003E) makes up 6.3% of the Dow.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAnd these banking stocks tend to move in tandem.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EIn other words, 9% of the Dow Jones index is set to sway along to Wall Street banks’ earnings starting tomorrow. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EThat in turn should have a major say on how the WSt30_m index performs as well.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EBetter-than-expected bank earnings \u003C\u002Fstrong\u003Emay help push WSt30_m index closer to that mid-December intraday peak just shy of the \u003Cstrong\u003E35,000\u003C\u002Fstrong\u003E psychologically-important mark.\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EOn the other hand, \u003Cstrong\u003Edisappointing banking earnings \u003C\u002Fstrong\u003Emay weigh on the WSt30_m and prompt the index to unwind some of its recent gains.\u003Cbr \u002F\u003E\r\n\t\u003Cbr \u002F\u003E\r\n\tHowever, such dampeners may be offset if the risk-on mode across US stock markets can persist following the softer-than-expected CPI data released earlier this week.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ELook out for US earnings season, which unofficially kicks off tomorrow (Friday, July 14\u003Csup\u003Eth\u003C\u002Fsup\u003E).\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128114_13072023","publicationDate":{"formatted":"2023-07-13T09:51:11","timestamp":1689241871},"readingTime":"3 minutes","tags":[]}],"metals_gold_silver":[{"title":"XAUUSD rebounds off $1900 ","body":{"value":"\u003Cp\u003EThe gold prices have decreased towards the psychologically important \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E amid a mixed CPI reading last Wednesday. A recent uptick in the headline consumer price index (CPI) may indicate the potential for another rate hike towards the end of 2023.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs of today, the market expects a 32.6% chance of another rate hike at the Fed’s meeting in November.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"a8f90c94-f834-4975-bd40-2095b65450b6\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-15_XAUUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA further increase in rates may deter the XAUUSD bulls from resurfacing above the \u003Cstrong\u003E$1950 \u003C\u002Fstrong\u003Eround number, temporarily capping the gold’s upside potential.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EDuring the past week the investors have already withdrawn ~$979 million worth of shares from the world’s largest gold-backed exchange traded fund (ETF). \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective the 21-period SMA is set to act as an immediate resistance at \u003Cstrong\u003E$1919\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETo the downside, the psychologically important\u003Cstrong\u003E $1900 \u003C\u002Fstrong\u003Emight provide a strong support if XAUUSD bears try to carry on with the downward momentum.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EGold has been dragged lower this week amid the mixed US CPI reading.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128571_15092023","publicationDate":{"formatted":"2023-09-15T07:00:00","timestamp":1694761200},"readingTime":"1 min","tags":[]},{"title":"Gold bulls struggle to recover above $1950","body":{"value":"\u003Cp\u003EGold prices have been under pressure this week as the \u003Cstrong\u003Egreenback reached its highest level since February\u003C\u002Fstrong\u003E. The DXY index moved above 105 following better-than-expected Non-Manufacturing PMI (54.5 vs 52.5 forecast) and Initial Jobless Claims data (216K vs 234K expected).\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EXAUUSD bulls are struggling to recover above \u003Cstrong\u003E$1950\u003C\u002Fstrong\u003E, as uncertainty looms over the Fed’s interest rate decision later this month.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA surprise further increase in interest rates or \u003Cstrong\u003Ea hawkish stance might divert investors away from zero-yielding gold\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EMoney markets currently price an unchanged decision \u003Cstrong\u003Eabove 90%\u003C\u002Fstrong\u003E for the FOMC September 20 meeting. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"4546f96f-631c-4765-a2c0-0542bbc5aded\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-08_XAUUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe turbulent Chinese economic recovery has also weighed on gold prices. A recently, lower-than -expected trade balance reading for August (68.36 billion vs 73.90 billion estimated) indicated the possibility of \u003Cstrong\u003Efurther economic contraction\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective, gold continues to trade below 50-period SMA, \u003Cstrong\u003Eindicating a potential downtrend\u003C\u002Fstrong\u003E. The 21-period SMA is set to provide immediate support at \u003Cstrong\u003E$1915\u003C\u002Fstrong\u003E. This morning, prices have bounced off the 200-period SMA at \u003Cstrong\u003E$1918\u003C\u002Fstrong\u003E.&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe Relative Strength Index (RSI) is positioned almost in the middle of the 30-70 range&nbsp;(&lt;30 – oversold; &gt;70 – overbought), \u003Cstrong\u003Eindicating investor’s indecisiveness\u003C\u002Fstrong\u003E as they wait for more macro-economic clues.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EGold continues to trade below 50-period SMA\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128516_08092023","publicationDate":{"formatted":"2023-09-08T06:52:00","timestamp":1694155920},"readingTime":"2 min","tags":[]},{"title":"Gold prices have stabilised around $1940","body":{"value":"\u003Cp\u003EAfter a strong surge at the start of the week fuelled by \u003Cstrong\u003Eweak US economic data\u003C\u002Fstrong\u003E, gold prices have stabilised around \u003Cstrong\u003E$1940\u003C\u002Fstrong\u003E, after almost reaching one-month highs on Thursday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ELower than expected GDP and second tier employment readings have hinted at a possible Fed halt to interest rate hikes.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs the result, \u003Cstrong\u003Einvestors are shifting their focus\u003C\u002Fstrong\u003E towards non-yielding, safer assets such as gold.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe Chinese government’s efforts to support its economy, with both manufacturing and non-manufacturing sectors slowing down, points towards an \u003Cstrong\u003Eongoing economic decline\u003C\u002Fstrong\u003E and further increases gold’s appeal as a safe haven asset.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"6f37824e-e75e-4cb1-aa6b-3152d041d53a\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-01XAUUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EDespite these recent positive developments for gold, \u003Cstrong\u003Ebullion could remain under pressure\u003C\u002Fstrong\u003E as inflationary risks still remain.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective, gold is trading in between the 50- and 100-day SMA. A potential consolidation channel might occur between \u003Cstrong\u003E$1934\u003C\u002Fstrong\u003E and \u003Cstrong\u003E$1949\u003C\u002Fstrong\u003E. The Relative Strength Index (RSI) is currently lying 10 points below the upper boundary (&gt;70 denotes overbought territory), which could indicate potential further upside.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EBullion could remain under pressure as inflationary risks still remain. &nbsp;\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128465_01092023","publicationDate":{"formatted":"2023-09-01T08:01:00","timestamp":1693555260},"readingTime":"1 min","tags":[]},{"title":"Gold bulls’ last chance?","body":{"value":"\u003Cp\u003EAfter falling below the psychologically important \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E threshold, the price of gold has rebounded, reaching a 2-week high at \u003Cstrong\u003E$1923.37\u003C\u002Fstrong\u003E. The XAUUSD bulls have gained enough momentum despite the strengthening US dollar this week.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFears of deteriorating conditions in major economies, such as the Eurozone, UK, and China, are buffering support for the safe haven gold.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, from a technical perspective, the “doji\" candlestick formed yesterday (Thursday, August 24\u003Csup\u003Eth\u003C\u002Fsup\u003E) points to indecision among gold bulls, who duly booked profits amidst the stronger US dollar on Friday, ahead of Fed Chair Powell’s highly-anticipated speech at Jackson Hole later today.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"88b96ace-3a4c-4fc7-9f4e-fa5d5617e959\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-24_XAUUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAs markets now brace themselves for potential clues on the Fed’s next moves, XAUUSD bears are hoping that the recent (230k vs 240k forecasted) – lower-than-expected initial jobless claims data would provide enough ground for the Fed to continue on it’s hawkish trajectory and drag gold prices lower.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EIf Chair Powell manages to remind markets of it’s hawkish stance, XAUUSD bears might gain enough strength to reverse the recent recovery, with an eye on returning towards the psychologically-important \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E level once more.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003ETo \u003Cem\u003Ethe upside, the \u003C\u002Fem\u003E21-period SMA is set to provide an immediate resistance, with the 50-period SMA standing right above the recent peak of \u003Cstrong\u003E$1923.37\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a fundamental perspective, an extension of gold’s recent recovery would likely have to be based on a Fed that’s increasingly ready to halt its rate hikes.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EXAUUSD – back above $1900. Focus now on Jackson Hole.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128421_25082023","publicationDate":{"formatted":"2023-08-25T09:26:00","timestamp":1692955560},"readingTime":"2 min","tags":[]},{"title":"XAUUSD struggles below $1900","body":{"value":"\u003Cp\u003EGold continues to remain under pressure and trades below the key \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E psychological level, hitting a five-month low at \u003Cstrong\u003E$1889.59\u003C\u002Fstrong\u003E on Thursday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EChina’s murky prospects of economic recovery along with the recent robust US economic performance are putting significant pressure on XAUUSD bulls. 10-year US Treasury yields have reached a 10-month high, strengthening the dollar and making some investors reconsider their current gold positions.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAny macro indication in support of a rate hike at the next Fed meetings will add additional pressure on XAUUSD, with the potential to drive it lower towards the \u003Cstrong\u003E$1800\u003C\u002Fstrong\u003E psychological level.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"6cf519e5-7b08-498d-94f9-880b57b507d6\" src=\"\u002Fstorage\u002Finline-images\u002F2023-08-18_XAUUSDDaily_0.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective we might expect XAUUSD to consolidate around the \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E big figure as investors await signals which could potentially affect the Fed’s future interest rate decision.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAt the time of writing, the CME FedWatch Tool indicates an 86.5% chance of interest rates remaining unchanged at \u003Cstrong\u003E5.25% - 5.5%\u003C\u002Fstrong\u003E. during the next Fed decision in September.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EThe \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E level is set to be initial resistance, while the 21-day SMA moving under the 50-day SMA indicates the potential for a further decline.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EGold continues to remain under pressure and trades below the key $1900 psychological level, hitting a five-month low at $1889.59 on Thursday\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128375_18082023","publicationDate":{"formatted":"2023-08-18T09:00:00","timestamp":1692349200},"readingTime":"1 min","tags":[]},{"title":"Gold bulls drew little comfort from meek US CPI","body":{"value":"\u003Cp\u003ESpot gold is headed for a third straight weekly drop, having&nbsp;erased all of its July gains at the time of writing to return to its late-June\u002Fearly-July trading range.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe precious metal swiftly relinquished all of its gains immediately after Thursday’s softer US CPI.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EBullion bulls were spooked by \u003Cstrong\u003Erising Treasury yields\u003C\u002Fstrong\u003E and \u003Cstrong\u003Ehawkish commentary\u003C\u002Fstrong\u003E by San Francisco Fed President Mary Daly on Thursday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Gold bulls drew little comfort from meek US CPI\" data-entity-type=\"file\" data-entity-uuid=\"2acd266f-97e3-4ab3-b0ea-7cd51659fab1\" src=\"\u002Fstorage\u002Finline-images\u002FXAUUSDDaily_89.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EFurther declines in spot gold may find support at the psychologically-important\u003Cstrong\u003E $1900 level\u003C\u002Fstrong\u003E, where also lies its \u003Cstrong\u003E200-day simple moving average (SMA).\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAn upside spark may see \u003Cstrong\u003Eimmediate resistance around the mid-$1930 region\u003C\u002Fstrong\u003E which had capped spot gold prices back in late-June\u002Fearly-July.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EGold bulls will be hoping for more dovish Fed policy signals to be uncovered from next week’s FOMC meeting minutes’ release.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EWeaker-than-expected US retail sales or rising weekly jobless claims would also help their cause.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe precious metal swiftly relinquished all of its gains immediately after Thursday’s softer US CPI.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128328_11082023","publicationDate":{"formatted":"2023-08-11T05:39:06","timestamp":1691732346},"readingTime":"2 minutes","tags":[]},{"title":"Rising US yields hurt gold bulls ahead of NFP","body":{"value":"\u003Cp\u003ESpot gold has been mired in the \u003Cstrong\u003Emid-$1900 range\u003C\u002Fstrong\u003E as the \u003Cstrong\u003EUS dollar extended its recovery while surging US Treasury yields \u003C\u002Fstrong\u003Ehurt demand for the zero-yielding precious metal.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe bond market has had to contend with the greater incoming wave of debt issuance by the US Treasury, which in turn has pushed yields higher, while Fitch Ratings had earlier this week stoked concerns about the US fiscal outlook.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBullion has since been dragged to its \u003Cstrong\u003Elowest levels since mid-July\u003C\u002Fstrong\u003E, trading notably \u003Cstrong\u003Ebelow its 50-day simple moving average\u003C\u002Fstrong\u003E (SMA).\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Rising US yields hurt gold bulls ahead of NFP\" data-entity-type=\"file\" data-entity-uuid=\"626bdc60-fe01-4c18-9e7a-ced54fc42fd8\" src=\"\u002Fstorage\u002Finline-images\u002FXAUUSDDaily_88.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003E\u003Cstrong\u003EToday’s (Friday, August 4\u003Csup\u003Eth)&nbsp;\u003C\u002Fsup\u003EUS jobs report \u003C\u002Fstrong\u003Ewould hold great sway over whether spot gold \u003Cstrong\u003Ereturns to the $1900-$1934 range\u003C\u002Fstrong\u003E it adhered to between June and July, or whether it can \u003Cstrong\u003Eresurface above its 50-day SMA.\u003C\u002Fstrong\u003E\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EA \u003Cstrong\u003Estronger-than-expected US jobs report\u003C\u002Fstrong\u003E which underpins inflationary pressures and entices the Fed into one more rate hike should spell more near-term \u003Cstrong\u003Etrouble for bullion bulls.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, a \u003Cstrong\u003Esignificant softening of the US labour market \u003C\u002Fstrong\u003Ethat opens the door for a September pause by the Fed may help \u003Cstrong\u003Earrest the recent slump in spot gold.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EToday’s US jobs report would hold great sway over whether spot gold returns to the $1900-$1934 range it adhered to between June and July, or whether it can resurface above its 50-day SMA.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128286_04082023","publicationDate":{"formatted":"2023-08-04T07:43:30","timestamp":1691135010},"readingTime":"2 minutes","tags":[]},{"title":"Gold bugs frustrated by Fed, economic resilience","body":{"value":"\u003Cp\u003E\u003Cstrong\u003EThe Fed’s non-commitment to a September pause\u003C\u002Fstrong\u003E did little to excite bullion bulls, leaving both policymakers as well as gold traders on “data dependent” mode over the next 8 weeks.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EWith “data dependent” mode on, \u003Cstrong\u003Ebullion eased back into the mid-$1900s\u003C\u002Fstrong\u003E after better-than-expected US economic data extended the dollar’s recovery on Thursday.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EYesterday’s \u003Cstrong\u003Ehigher-than-expected Q2 GDP\u003C\u002Fstrong\u003E and the \u003Cstrong\u003Elower-than-expected weekly jobless claims\u003C\u002Fstrong\u003E contributed to the narrative that the \u003Cstrong\u003EFed can’t yet afford to halt its rate hikes\u003C\u002Fstrong\u003E, adding to bullion bulls’ frustrations.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAt the time of writing, gold is set to post a weekly decline and \u003Cstrong\u003Eend a run of three consecutive weekly gains\u003C\u002Fstrong\u003E, with the precious metal \u003Cstrong\u003Etesting support\u003C\u002Fstrong\u003E around where its \u003Cstrong\u003E21-day \u003C\u002Fstrong\u003Eand \u003Cstrong\u003E50-day simple moving averages\u003C\u002Fstrong\u003E (SMA) are converging.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Gold bugs frustrated by Fed, economic resilience\" data-entity-type=\"file\" data-entity-uuid=\"3836ee39-8788-4e90-9346-6a52e6780fdf\" src=\"\u002Fstorage\u002Finline-images\u002FXAUUSDDaily_87.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003EThe upcoming \u003Cstrong\u003EUS jobs report\u003C\u002Fstrong\u003E&nbsp;due \u003Cstrong\u003EFriday, August 4\u003Csup\u003Eth\u003C\u002Fsup\u003E\u003C\u002Fstrong\u003E is set to have a major say whether spot gold moves closer to \u003Cstrong\u003E$1900 or $2000\u003C\u002Fstrong\u003E by this time next week.\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EA \u003Cstrong\u003Estronger-than-expected July nonfarm payrolls report\u003C\u002Fstrong\u003E which sets the stage for a September Fed rate hike should force the \u003Cstrong\u003Eprecious metal to retreat further.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EOn the flip side, a \u003Cstrong\u003Esoftening US labuor market\u003C\u002Fstrong\u003E that allows the Fed to back away from another rate hike should help \u003Cstrong\u003Erestore spot gold\u003C\u002Fstrong\u003E back towards recent highs above $1980.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EThe upcoming US jobs report is set to have a major say whether spot gold moves closer to $1900 or $2000 by this time next week.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128227_28072023","publicationDate":{"formatted":"2023-07-28T06:39:33","timestamp":1690526373},"readingTime":"2 minutes","tags":[]},{"title":"Return of $2k gold requires imminent end to Fed rate hikes","body":{"value":"\u003Cp\u003ESpot gold is easing away from a two-month high after the latest US jobless claims print continue to point to a resilient US labour market that could underpin inflationary pressures.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EStill, the precious metal this week did carve its way back closer to the psychological $2k mark and remains on course for a third weekly gain, its longest such winning streak since March.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Return of $2k gold requires imminent end to Fed rate hikes\" data-entity-type=\"file\" data-entity-uuid=\"55020d32-99ac-4712-a109-2c15d8cbf8b3\" src=\"\u002Fstorage\u002Finline-images\u002FXAUUSDDaily_86.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBullion bulls have leapt in July on \u003Cstrong\u003Ehopes that the Fed’s next rate hike will be the last \u003C\u002Fstrong\u003Ein this cycle.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EIf the Fed lends credence to market expectations for no further rate hikes after this month, that may help \u003Cstrong\u003Ebullion bulls reclaim the $2k handle.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EHowever, if the Fed pours cold water on the notion that its rate hikes are coming to an end, that could prompt bullion to unwind some of its recent gains and \u003Cstrong\u003Efalter back into the mid-$1900s.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EHowever, if the Fed pours cold water on the notion that its rate hikes are coming to an end, that could prompt bullion to unwind some of its recent gains and falter back into the mid-$1900s.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128181_21072023","publicationDate":{"formatted":"2023-07-21T09:18:15","timestamp":1689931095},"readingTime":"2 minutes","tags":[]},{"title":"Bullion bulls rejoice over downtrodden dollar","body":{"value":"\u003Cp\u003ESpot gold is taking delight in the fact that its primary nemesis, the US dollar, has weakened substantially following the evident slowdown in US inflation.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThe zero-yielding precious metal is clearly basking in hopes that the Fed rate hike due later this month would be the final move of a series that began in March 2022.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective, gold has been lifted past key moving averages (21-day, 50-day, 100-day SMAs) as well as a critical Fibonacci level from its September 2022-May 2023 ascent. These widely-followed technical indicators may now serve as immediate support.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThis rosier fundamental outlook may even have gold bugs disregarding any bearish cues that may be inferred should gold’s 50-day SMA cross below its 100-day counterpart over the immediate term.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Bullion bulls rejoice over downtrodden dollar\" data-entity-type=\"file\" data-entity-uuid=\"1c2ae506-610f-4812-9141-6c2dde4ee880\" src=\"\u002Fstorage\u002Finline-images\u002FXAUUSDDaily_85.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EShould the Fed all but confirm that the July hike would be its last in this cycle, that may push spot gold back closer to the psychologically-important \u003Cstrong\u003E$2,000\u003C\u002Fstrong\u003E mark by month’s end.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EHowever, if the rhetoric out of the late-July FOMC meeting dashes hopes that peak US rates is close at hand, that may prompt spot gold to unwind some of its recent gains, unless markets still harbor enough willpower in the interim to continue fighting the Fed.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003ESpot gold is taking delight in the fact that its primary nemesis, the US dollar, has weakened substantially following the evident slowdown in US inflation.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128126_14072023","publicationDate":{"formatted":"2023-07-14T09:13:00","timestamp":1689325980},"readingTime":"2 minutes","tags":[]}]},"reviewsTop":[{"title":"Litecoin extends technical rebound","body":{"value":"\u003Ch3\u003E\u003Cstrong\u003ELitecoin has enjoyed a stellar start to the week, climbing about 3% since Sunday.\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cp\u003EThat’s about double the gains of Bitcoin so far this week, while triple the gains of Ether over the same period.\u003C\u002Fp\u003E\r\n\r\n\u003Ch5\u003E\u003Cem\u003ENOTE: Litecoin is currently the world’s 14\u003Csup\u003Eth\u003C\u002Fsup\u003E largest crypto by market cap, according to CoinGecko data, and was created in 2011 as the “faster” version of Bitcoin.\u003C\u002Fem\u003E\u003C\u002Fh5\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESince officially breaking into oversold territory early last week, when its\u003Cstrong\u003E 14-day relative strength index (RSI) broke below the 30 threshold\u003C\u002Fstrong\u003E, Litecoin has since posted a \u003Cstrong\u003Emonth-to-date high.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ELitecoin bulls are also likely to take heart from the fact that prices recently found support from the upper downward trendline stemming from its early-July intraday high of $114.84.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ECrypto bulls are set to be fixated on the intraday peak in late August as their next point of conquest.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EA higher high beyond \u003Cstrong\u003E$70.55\u003C\u002Fstrong\u003E may send a bullish signal to traders.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EA fresh 2-month high for Litecoin just might rope more bulls in from the sidelines to potentially push Litecoin even higher.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"Litecoin extends technical rebound\" data-entity-type=\"file\" data-entity-uuid=\"bd114469-0dbe-4af6-a3dd-5256cfb1583b\" src=\"\u002Fstorage\u002Finline-images\u002FLITECOINDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003EOf course, this is a massive week for global financial markets.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cp\u003EWithin the span of \u003Cstrong\u003E36 hours\u003C\u002Fstrong\u003E starting Wednesday (Sept 20\u003Csup\u003Eth\u003C\u002Fsup\u003E), the \u003Cstrong\u003EUS Federal Reserve, the Bank of England, and the Bank of Japan\u003C\u002Fstrong\u003E, along with half of G20 central banks, may signal their next policy moves to investors and traders worldwide.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAlthough crypto prices have largely ignored such macro events so far this year, the 30-day correlation between Litecoin and the Nasdaq 100 index was recently restored to its year-to-date high on September 5\u003Csup\u003Eth\u003C\u002Fsup\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003ECentral bank policies do influence liquidity levels across global financial markets.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003E\u003Cem\u003EAnd as we know, liquidity is a key pillar for the crypto universe, of which it has been sorely lacking this year.\u003C\u002Fem\u003E\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EShould these major central banks signal \u003Cstrong\u003Emore rate hikes ahead\u003C\u002Fstrong\u003E, such policy tightening may further\u003Cstrong\u003E drain liquidity\u003C\u002Fstrong\u003E from global markets, exacerbating price moves for cryptos while \u003Cstrong\u003Epotentially exerting downward pressure on prices.\u003C\u002Fstrong\u003E\u003Cbr \u002F\u003E\r\n\t&nbsp;\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EHowever, signs that these influential central banks, especially the Fed, are&nbsp;\u003Cstrong\u003Edone with their&nbsp;rate hikes\u003C\u002Fstrong\u003E, could spur \u003Cstrong\u003Enear-term gains\u003C\u002Fstrong\u003E for the likes of Litecoin.\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Ch4\u003E\u003Cstrong\u003EOverall, crypto aficionados could still do with a shot in the arm.\u003C\u002Fstrong\u003E\u003C\u002Fh4\u003E\r\n\r\n\u003Cp\u003EThis especially in light of the fact that investors have \u003Cstrong\u003Epulled out about US$ 500 million\u003C\u002Fstrong\u003E in crypto products over the past 9 weeks, according to a CoinShares report.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAnd with this crypto still over \u003Cstrong\u003E80% below its ATH \u003C\u002Fstrong\u003E(all-time high) of $413.41 on intraday prices set on May 16\u003Csup\u003Eth\u003C\u002Fsup\u003E 2021 …\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Ch3\u003ELitecoin&nbsp;still requires plenty of fresh reasons before it can meaningfully begin closing that gulf between its current price and previous heights.\u003C\u002Fh3\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E&nbsp;\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EA higher high beyond $70.55 may send a bullish signal to traders, in what is a massive week full of major central bank policy decisions.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"cryptocurrencies"},"alias":"128591_19092023","publicationDate":{"formatted":"2023-09-19T10:20:53","timestamp":1695118853},"readingTime":"4 minutes","tags":[]},{"title":"This week: USDJPY is trying to break above 148","body":{"value":"\u003Cp\u003EUSDJPY is threatening to break above the \u003Cstrong\u003E148.0\u003C\u002Fstrong\u003E psychologically-important level, amid broad-based US dollar strength.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EBloomberg’s FX model forecasts a 73% chance of USDJPY trading within the \u003Cstrong\u003E145.18 – 150.18\u003C\u002Fstrong\u003E range this week.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"08fc204d-5ec2-448a-ad61-9000c1809905\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-18_USDJPYDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EMarkets are already bracing for the most volatility over a one-week period for this FX pair since July, while also becoming notably more bullish on the Yen.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EJapan’s latest CPI prints are sandwiched by pivotal policy meetings by the Federal Reserve (Fed) and the Bank of Japan (BoJ) on either side of the Pacific - all set to dictate USDJPY’s immediate fate.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Ch3\u003E\u003Cstrong\u003EEvents Watchlist\u003C\u002Fstrong\u003E\u003C\u002Fh3\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EWednesday, September 20\u003Csup\u003Eth\u003C\u002Fsup\u003E: Federal Reserve policy decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EThe Fed is widely expected to leave US interest rates unchanged at this week’s meeting. Markets will be watching for clues out of either the FOMC policy statement, and\u002For Fed Chair Jerome Powell’s press conference. Hints of one more Fed rate hike may send USDJPY soaring, barring any currency intervention by the BoJ.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 22\u003Csup\u003End\u003C\u002Fsup\u003E: Japan August national CPI\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EEconomists predict the headline consumer price index (CPI) will ease slightly to 3% year-on-year (y\u002Fy), while core CPI (excluding fresh food and energy prices) should match July’s 4.3% y\u002Fy figure. Higher-than-expected inflation may translate into a USDJPY slump, on bets of the BoJ ending its negative rates regime sooner rather than later.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EFriday, September 22\u003Csup\u003End\u003C\u002Fsup\u003E: Bank of Japan policy decision\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003EMarkets predict a measly 22% chance of a BoJ rate hike this week. However, seasoned market watchers are only too aware of this central bank’s penchant for surprises! Another tweak to its yield-curve control, or even the slightest of hawkishness out of BoJ Governor Kazuo Ueda, should serve as triggers for Yen bulls to run wild.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cbr \u002F\u003E\r\n\u003Cbr \u002F\u003E\r\nHere’s comprehensive list of other key economic data and events due this week:\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EMonday, September 18\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EApple set to release iOS 17\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003ETuesday, September 19\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAUD: RBA meeting minutes\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone August CPI (final)\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECAD: Canada August CPI\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EOECD release global economic outlook\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EWednesday, September 20\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EJPY: Japan August external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECNH: China loan prime rates\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August CPI\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EUSD: Fed policy meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EThursday, September 21\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENZD: New Zealand 2Q GDP\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone September consumer confidence\u003C\u002Fli\u003E\r\n\t\u003Cli\u003ECHF: Swiss National Bank policy meeting\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EGBP: Bank of England policy meeting\u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EUSD: US weekly initial jobless claims\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EFriday, September 22\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003ENZD: New Zealand 3Q consumer confidence; August external trade\u003C\u002Fli\u003E\r\n\t\u003Cli\u003E\u003Cstrong\u003EJPY: Bank of Japan policy meeting;&nbsp;\u003C\u002Fstrong\u003EAugust national CPI; September PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EAUD: Australia September PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EGBP: UK August retail sales; September consumer confidence and PMIs\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EEUR: Eurozone September PMIs\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n\r\n\u003Cp\u003ECAD: Canada July retail sales\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EUSDJPY is threatening to break above the 148.0, amid broad-based US dollar strength.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"market_sessions"},"alias":"128580_18092023","publicationDate":{"formatted":"2023-09-18T03:44:00","timestamp":1695008640},"readingTime":"1 min","tags":[]},{"title":"BRN surges towards $95.00 ","body":{"value":"\u003Cp\u003EOil prices continue to rise reaching fresh 2023 highs at \u003Cstrong\u003E$94.08\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EDespite the negative technical outlook (RSI – overbought at 78.26) &amp; the surprise jump in US stockpiles, the BRN bulls have managed to gain strong momentum and carve out a larger gap above the psychologically important $\u003Cstrong\u003E90.00\u002Fbbl\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"49fe459f-6dab-418e-a28c-794002e38ce0\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-15_BRNDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ESupported by the IEA and OPEC’s warnings for a global market deficit, in light of Saudi Arabia’s probable decision to extend its voluntary supply cuts into next year, BRN bulls may be able to push the price further towards the \u003Cstrong\u003E$95.00\u003C\u002Fstrong\u003E round number.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAnalysts estimate a potential for the BRN to reach $107\u002Fbbl in 2024.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EInvestors are now paying increased attention towards any macro-economic developments which may signal the potential slowdown in demand from US &amp; China – the world’s largest oil consumers.\u003C\u002Fp\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EAnother Fed rate hike in 2023 could be a drag on US’ economic growth, and thus on demand for the “black gold”\u003C\u002Fli\u003E\r\n\t\u003Cli\u003EContinued economic turbulence in China could also lead to potential drop in oil demand\u003C\u002Fli\u003E\r\n\u003C\u002Ful\u003E\r\n","summary":"\u003Cp\u003EOil prices rise as Saudi-Russia output curbs bite.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"commodities"},"alias":"128572_15092023","publicationDate":{"formatted":"2023-09-15T07:00:00","timestamp":1694761200},"readingTime":"1 min","tags":[]},{"title":"XAUUSD rebounds off $1900 ","body":{"value":"\u003Cp\u003EThe gold prices have decreased towards the psychologically important \u003Cstrong\u003E$1900\u003C\u002Fstrong\u003E amid a mixed CPI reading last Wednesday. A recent uptick in the headline consumer price index (CPI) may indicate the potential for another rate hike towards the end of 2023.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EAs of today, the market expects a 32.6% chance of another rate hike at the Fed’s meeting in November.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"a8f90c94-f834-4975-bd40-2095b65450b6\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-15_XAUUSDDaily.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EA further increase in rates may deter the XAUUSD bulls from resurfacing above the \u003Cstrong\u003E$1950 \u003C\u002Fstrong\u003Eround number, temporarily capping the gold’s upside potential.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EDuring the past week the investors have already withdrawn ~$979 million worth of shares from the world’s largest gold-backed exchange traded fund (ETF). \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective the 21-period SMA is set to act as an immediate resistance at \u003Cstrong\u003E$1919\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETo the downside, the psychologically important\u003Cstrong\u003E $1900 \u003C\u002Fstrong\u003Emight provide a strong support if XAUUSD bears try to carry on with the downward momentum.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EGold has been dragged lower this week amid the mixed US CPI reading.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"metals_gold_silver"},"alias":"128571_15092023","publicationDate":{"formatted":"2023-09-15T07:00:00","timestamp":1694761200},"readingTime":"1 min","tags":[]},{"title":"SPX500_m still in limbo below 4500.","body":{"value":"\u003Cp\u003EThe S&amp;P 500 has remained relatively unchanged, consolidating further in between the 21-period SMA &amp; its 50-day counterpart.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe benchmark US stock index has found it hard to resurface above the psychologically-important \u003Cstrong\u003E4500\u003C\u002Fstrong\u003E, as markets are still assessing \u003Cstrong\u003Ewhether yesterday’s CPI reading would keep the Fed on the hawkish trajectory\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003E\u003Cimg alt=\"123\" data-entity-type=\"file\" data-entity-uuid=\"3baa5d0f-bb72-4724-ae5f-2cec4946436d\" src=\"\u002Fstorage\u002Finline-images\u002F2023-09-14_SPX500_mDaily_0.png\" \u002F\u003E\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EThe August consumer price index (CPI) increased to 3.7% year-on-year (vs 3.6% expected) while the core CPI month-on-month (August vs. July 2023) grew 0.3%, slightly higher than the expected 0.2%.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EThis was the first uptick in the core CPI MoM reading since February.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EDespite an increase in consumer prices, the market expects a \u003Cstrong\u003E97% chance\u003C\u002Fstrong\u003E of no rate hike at the Fed’s meeting next Wednesday.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003EAnd while the markets seem confident about a “no hike” scenario at the upcoming Fed’s decision next week, investors will pay a very \u003Cstrong\u003Eclose attention to any further macro-economic developments \u003C\u002Fstrong\u003Ewith a potential to reaffirm one more hike in November.\u003C\u002Fp\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003E\u003Cem\u003EFor the moment, the market expects a \u003Cstrong\u003E39%\u003C\u002Fstrong\u003E chance of a rate hike at the Fed’s meeting in November. \u003C\u002Fem\u003E\u003C\u002Fp\u003E\r\n\u003C\u002Fblockquote\u003E\r\n\r\n\u003Cp\u003EFrom a technical perspective the 50-period SMA is set to act as an immediate resistance at \u003Cstrong\u003E4487\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n\r\n\u003Cp\u003ETo the downside, the 21-period SMA might prove to be a strong support level if the SPX500_m bears gain enough momentum to reverse towards psychologically important \u003Cstrong\u003E4400\u003C\u002Fstrong\u003E, with a potential pit stop at last Thursday’s (September 7\u003Csup\u003Eth\u003C\u002Fsup\u003E) Intraday low of \u003Cstrong\u003E4431.4\u003C\u002Fstrong\u003E.\u003C\u002Fp\u003E\r\n","summary":"\u003Cp\u003EMarkets still uncertain about Fed’s next move following mixed US CPI data.\u003C\u002Fp\u003E\r\n"},"author":{"alias":"alpari_analyst"},"category":{"alias":"securities"},"alias":"128559_14092023","publicationDate":{"formatted":"2023-09-14T07:06:00","timestamp":1694675160},"readingTime":"2 min","tags":[]}],"videos":[],"financialNews":{},"financialNewsItem":{},"financialNewsCategories":[],"financialNewsLoaded":false}};(function(){var s;(s=document.currentScript||document.scripts[document.scripts.length-1]).parentNode.removeChild(s);}());</script><script src="/dist/manifest.81e20c207ee74c98b897.js" defer></script><script src="/dist/223.f0688b892b37b663ff81.js" defer></script><script src="/dist/238.7f53d6407dafa72d158c.js" defer></script><script src="/dist/1763.2e7f01fb5bea32155867.js" defer></script><script src="/dist/1473.1a0a86a6ff3ad3e108a7.js" defer></script><script src="/dist/1710.1f7a26a7b8e331eb9541.js" defer></script><script src="/dist/1514.9dcffb30d633e3c50cb0.js" defer></script><script src="/dist/1907.35a0eb1a62f59132c3ec.js" defer></script><script src="/dist/1809.d1b7db0763709b5eec0f.js" defer></script><script src="/dist/1841.fe87fab4e17443064251.js" defer></script><script src="/dist/1587.0e5c91af3da839437bcf.js" defer></script><script src="/dist/1759.3c94b274893182efee37.js" defer></script><script src="/dist/1860.4915d19bd1e188d7fa01.js" defer></script><script src="/dist/1586.412f35067099695b37de.js" defer></script><script src="/dist/234.2fe25236a36151e24ec4.js" defer></script><script src="/dist/1561.ed6d120982e61af464c0.js" defer></script><script src="/dist/1825.3d921545f74984951ec3.js" defer></script><script src="/dist/1483.6c37169094c40526935b.js" defer></script><script src="/dist/1558.c21b4d007064fe2be998.js" defer></script><script src="/dist/1480.25f3c3a6470f5e87acf6.js" defer></script><script src="/dist/240.dbe9bc535810a7b6a4eb.js" defer></script><script src="/dist/1668.6aa00189086fc1d98a40.js" defer></script><script src="/dist/1635.cb5978b067e0450c915f.js" defer></script><script src="/dist/1921.a03de968a6c8ae4fdd9a.js" defer></script><script src="/dist/43.c77748ef49141cb15d95.js" defer></script><script src="/dist/237.2b63a93b8fee67b16882.js" defer></script><script src="/dist/1417.d85452dc82eb7cb3c535.js" defer></script><script src="/dist/vendor.cb5d24f56656f0b7ced3.js" defer></script><script src="/dist/main.d4cd775851966025a1dd.js" defer></script>
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