September 2nd 2020: Upbeat ISM Manufacturing Survey Supports Modest DXY Recovery
- Daily Report, Recent Posts, Technical Analysis
- September 1, 2020
Amid tensions in the Middle East, potentially disrupting oil supplies, the oil complex is an interesting market to keep an eyeball on at the moment. As of writing, escalation between Iran and Israel has been limited following attacks from both sides earlier this month. What is reasonably clear is that both nations are trying to
READ MOREThe path for future interest rates in the US remains uncertain, with some Fed officials even talking about the possibility of rate hikes if inflation continues to increase. From six rate cuts to less than two (-39bps), the hawkish repricing in the swaps market for the Fed funds target rate this year has reinforced a
READ MOREAhead of this week’s US GDP first estimate print and the PCE Price Index numbers, the US Dollar Index will likely be a watched market. Buyers remain firmly at the wheel. YTD, we are nearly +5.0%, with April on track to close higher for a fourth consecutive month, up +1.5% MTD. And from a technical
READ MOREChart Pattern Structure Indicates Additional Underperformance for the Stock Chart pattern enthusiasts will acknowledge two key patterns in play on Tesla’s daily chart at the moment. Longer-term, we have what is referred to as a falling wedge pattern unfolding, taken from $205.28 and $175.01; these are generally considered reversal structures that demonstrate slowing momentum to
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