by OverviewFX | Aug 23, 2024 | Forex
AUD/USD is finding its footing, currently stabilising at around 0.6725, as the US dollar weakens further in anticipation of Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. Investors are watching closely for cues on future policy shifts, influencing...
by OverviewFX | Aug 23, 2024 | Forex
GBP/USD started a fresh increase above the 1.2920 zone. USD/CAD declined and now consolidates below the 1.3640 level. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound is eyeing more gains above the 1.3130 resistance. There is a connecting...
by OverviewFX | Aug 23, 2024 | Forex
Yesterday, the Purchasing Managers’ Index (PMI) data for both the UK and the US were released. According to ForexFactory, the UK figures were as follows: → Flash Manufacturing PMI: actual = 52.5, forecast = 52.1; previous = 52.1; → Flash Services PMI: actual = 53.3,...
by OverviewFX | Aug 23, 2024 | Forex
US 100 index exhibits bearish tendencies but stabilizes near 50-SMA Technical risk is two-sided as Powell prepares for his Jackson hole speech( 14:00 GMT) Bulls hope for a close above 19,880; bears need a drop below 19,350 The US 100 stock index came under pressure on...
by OverviewFX | Aug 23, 2024 | Forex
GBPJPY attempts to recover from recent 8-month low But the rebound falters after testing 200-day SMA RSI and MACD remain tilted to the bearish side GBPJPY experienced a vast selloff in July, dropping from a 16-year peak of 208.10 to as low as 180.07 on August 5, which...
by OverviewFX | Aug 23, 2024 | Forex
In the calm before what could be a stormy session, forex markets remained exceptionally quiet during Asian trading. Dollar managed a slight recovery overnight, bolstered by pullback in US equities, but the upward momentum has been notably weak. Traders are now...
