Financial Updates Today

General Market Overview

Global stock markets have experienced growth. Overall, analysts are becoming more positive on their risk sentiment despite geopolitical uncertainty and rising U.S. yields. 

The call that no rate cuts will be happening soon has supported the retreating dollar. We also see Big Tech shares performing better ahead of quarterly results. 

Analysts see the yields rise to 6% earnings as we now see an increase of 19.7% from when the year started, trading from 3.866% earnings and now to 4.607%.  

Japanese monetary authorities have put up signs that their tolerance for the weakness in their currency is wearing thin and official intervention to pull prices up is now on the table.

Japan's finance minister, Shunichi Suzuki, said that last week's trilateral meeting with his U.S. and South Korean counterparts set up the field for Tokyo to take appropriate action in the foreign exchange market.

While the fear of an escalation in the Middle East is starting to ease up, presenting potential leads for investors to look into the markets, it is still being carefully assessed as we see Oil prices rise by 1.63% from yesterday’s close to $88.45. 

GOLD -We see a drop in GOLD prices as the price broke beyond the 2333.715. The price currently sits above 2319.398 after breaking through yesterday. We can call a drop into the 2261.156 and 2227.561 upon a successful drop below the structure. There is now a shift in momentum for GOLD as we see a potential retest into the 2354.470 structure if the price extends into the 2333.715.

SILVER - Silver is supported by the retracement zone at 2.095 and 26.963. A drop below said zone and 26.753 may call the price to test the anchor of the daily range at 25.793. 

DXY - With the DXY dropping below 105.840, we may see it return into the range aggressively or drop to test 105.523. We can see the chart form an M pattern as the momentum shift has occurred. Markets may look into a bearish move. 

GBPUSD -The prices’ aggressive recovery after failing to reach the structure at 1.22714 may indicate a return into the daily range as the price now edges closer to the bottom of the range at 1.25019. It now moves above the 1.24268.

AUDUSD -We now see a complete shift in momentum with AUDUSD as we see a price break above 0.64801. We may see it move toward the 0.65250.

NZDUSD - A break above 0.59400 will shift the entire momentum as the price now sits above 0.59288 as the market opens today. The price may be pulled to test the 0.59796. 

EURUSD -We now see the EUR completely break out of the structure as the price now sits above 1.06988. We may see price test 1.07240 before presenting an opportunity to retest the structure and continue, or we may also witness a consolidation to collect further orders.  

USDJPY -Despite the weakening USD at market open, evident across the charts, we see JPY stagnate slightly above and on 154.771. This proves JPY's weakness and USD’s failure to show strength. Until further price movement occurs, we still remain bullish on this pair.

USDCHF - With almost the same situation as JPY, we see CHF weakness to be evident in the chart. We may experience further consolidation as the market stalls to collect orders. There is not much volatility in this chart and cannot be called on anything. Unless the price moves in any direction, we remain bullish on this pair as it remains respectful of the channel and the structure at 0.90136 and 0.90743.

USDCAD - The market has completely shifted momentum as the price dropped below 1.37035. We may see the price continue to drop toward 1.3756 or it may also potentially consolidate or return toward 1.32761 for collection of orders.