Monica Kingsley
Monicakingsley
S&P 500 made the expected dip on hotter CPI, and then went on to recover – both the macro prediction and market response I got right for clients. While the first serious support zone of 5,785 – 5,795 wasn‘t hit, the price action still offered great intraday gains for clients, it had just been not suitable for swing longs initiation as premarket positioning for PPI (hello, another inflation report) took the index not too far from 24hrs ago.
The other key development yesterday was in the bond market (and in higher than expected unemployment claims, over 250K) – rich day of auctions with implications.
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
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EUR/USD holds gains near 1.0950 after uneventful US PPI
EUR/USD is back on the bids, hovering around 1.0950 ahead of Wall Street's opening on Friday. The US Dollar sheds some ground, but the pair seems to lack further bullish impetus, as risk sentiment remains sour after US data and ahead of Fedspeak.
GBP/USD rises toward 1.3100 after UK data
GBP/USD gained upside traction toward 1.3100 during Friday's European trading, in a delayed reaction to the UK GDP and the industrial growth in August. Mild pressure on the US Dollar maintains the pair afloat as US traders reach their desks.
Gold price remains below $2,650, bulls not giving up
Gold price attracts some follow-through buying for the second straight day on Friday and recovers further from a nearly three-week low, around the $2,602 area touched the previous day.
Crypto Today: Bitcoin, Ethereum and XRP gain on Friday, meme coin NEIRO erases recent gains
Bitcoin steadies above $60,000 on Friday, gains over 1% on the day. Ethereum trades above $2,400, while BlackRock Spot Ethereum ETF sees a $17.8 million inflow on Thursday. XRP is back above $0.5300 as Ripple files cross-appeal in SEC lawsuit.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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