Ming Jong Tey
Independent Analyst
Watch the video below for the discussion of CAVA's trading plan based on the power earning gap setup strategy:
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EUR/USD flatlines below 1.1200 ahead of German inflation data, Powell
EUR/USD is oscillating below 1.1200 in the early European morning on Monday. The pair lacks a fresh directional impetus, awaiting the flash German CPI data and Fed Chair Powell's speech. More Chinese stimulus efforts keep risk sentiment in a sweeter spot amid Mideast risks.
GBP/USD holds gains below 1.3400 as USD struggles ahead of Powell
GBP/USD consolidates below 1.3400 in European trading on Monday. The pair eases after the downward revision to the UK Q2 GDP data. China's stimulus-led risk appetite, a subdued US Dollar and Fed-BoE policy divergence lend support to the pair ahead of Fed Chair Jerome Powell's speech.
Gold price remains confined in a range below all-time peak, Powell's speech awaited
Gold price remains on the defensive heading into the European session on Monday, albeit it lacks follow-through selling and hovers just below the all-time peak touched last week.
The week ahead: China stock rally, UK data revised lower and Payrolls
Stock markets gains are not broad based on Monday, and Japan’s Nikkei dropped more than 5%. This comes after some disappointment about the new prime minister, who has pledged to continue with the policies of his predecessor.
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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