Monica Kingsley
Monicakingsley
S&P 500 pushed higher as per weekend premium predictions, and then the warning about Iran disrupted the bulls. Weak risk-on gave way to fast selling and then cautious trading range. And today we have PPI, which I‘m not looking to dramatically move markets one way or another, but have an opinion on what the figure will do to rate cutting prospects, ES, NDX and IWM (premium).
Here is VIX to illustrate the cautious entry to today.
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 climbs above 1.0950 on renewed USD weakness
EUR/USD gains traction and trades in positive territory above 1.0950 in the American session on Tuesday. The data from the US showed that annual producer inflation softened to 2.2% in July from 2.7% in June, weighing on the USD and helping the pair push higher.
GBP/USD trades at fresh weekly highs above 1.2800
GBP/USD extends its recovery and trades at a fresh weekly high above 1.2800 on Tuesday. The upbeat employment data from the UK supports Pound Sterling, while the soft US producer inflation reading for July provides an additional boost to the pair.
Gold struggles to hold above $2,470 following Monday's upsurge
Gold stays in a consolidation phase below $2,470 after rising more than 1.5% on Monday. Although the benchmark 10-year US Treasury bond yield continues to stretch lower, the improving risk mood makes it difficult for XAU/USD to preserve its bullish momentum.
Sui price is poised for a rally following a retest of the breakout level
Sui (SUI) broke above the falling wedge pattern on Thursday and surged 19% in the subsequent four days, but as of Tuesday, it is experiencing a pullback, trading 4.8% lower at $0.96 at the time of writing.
In the thick of the summer doldrums
We’re in the thick of the summer doldrums and markets have for the most part been confined to some tight consolidation trade. The economic calendar has been rather anaemic as well, further contributing to the uneventful price action.