• EUR/USD bulls emerge and eye a test of the coil's trendline. • Bears need to get below hourly support around 0.9800.
Looking at the technical picture of the Amadeus IT Group SA (BME: AMS) stock on our 4-hour chart we can see that as of yesterday, the share price managed to overcome a short-term tentative downside resistance line taken from the high of May 30th. For now, AMS continues to trade above that line, meaning that more byers might see it as a good sign to step in. We will take a positive approach for now.
Looking at the technical picture of USD/ZAR on our daily chart, we can see that after reversing higher at the end of March, the pair is now trading above a short-term upside support line taken from the low of April 13th. That said, the rate is currently trading below a key resistance area between the 16.1848 and 16.3195 levels, marked by the highs of June 13th and May 16th respectively. In order to aim further north, we would prefer to wait for a push above that resistance area first.
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The Week ahead: Major Banking decisions and what to expect
On Monday, October 24, spot gold rallied and retreated, early in the session because the dollar fell to hit nearly two-week lows; gold prices once surged near the 1670 mark, but with the dollar twisted down slightly up, gold prices gave back the gains, currently trading at $ 1655 near.
On Friday, October 21, the dollar index first rose sharply to 113.97, before reversing sharply after the "New Federal Reserve News Service" article, falling nearly 2% to close down 0.877% at 111.86.
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Another huge week for Q3 earnings reports this week, as investors brace themselves for some potentially brutal figures from some of the big tech companies such as Alphabet, Microsoft, Amazon, Facebook, and Twitter, among others. After months of cost-cutting measures and layoffs, the highly anticipated Q3 numbers will give an interesting insight into where these businesses may end up as the US economy continues towards recession.
EUROPEAN SHARES
EUROPEAN SHARES
On Tuesday, Oct. 21, spot gold shocked lower during the Asian session, touching the 1620 handle, supported by expectations that the Federal Reserve will make two more consecutive 75-point rate hikes during the year, as U.S. bond yields continued to climb higher, with the U.S. 10-year Treasury yield refreshing its high since June 2008 to 4.27%.
Strategy is one of the ways to find the best way to get a benefit.
On Thursday, October 20, stimulated by the hawkish speech of the Federal Reserve officials, the 10-year US bond yield rose above 4.2% in the session, continuing the high since 2008.
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Upcoming Market Updates: AUD, GBP, CAD, USD
It’s not particularly hard to make a bearish case for the European economy, especially relative to the US.
Services price inflation rose quickly through the first half of 2022, reaching about 5% this summer. With further increases in goods prices in 2022 and a rapid rise in services prices, total CPI inflation rose sharply, reaching 8.1% in June. Canadian CPI for September was 6.9% YoY vs and expectation of 6.8% YoY and an August reading of 7%.
This statement is the most commonly found and widely believed by novice traders.
On Wednesday, October 19, the dollar index rose 1% in the day to close at 113, up 0.776% to 112.92. EUR/USD fell nearly 1% and fell below 0.98; The dollar/yen further approached the 150 level, hitting a 32 year low for three consecutive days this week; GBP/USD fell by more than 100 points, once falling below 1.12. The 10-year US bond yield climbed to 4.138%, breaking 4.1% for the first time in 14 years. The 30-year UK bond yield fell by more than 30 basis points and lost 4%.