Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
Japanese Yen is Falling. What to Expect From BoJ?
Hello, dear friends! Tuesday is here with us. What’s going on in the markets? Let’s check!
Japanese Economy
Japanese GDP grew by 1.5% in the second quarter. Meanwhile, the Japanese Yen keeps falling. USDJPY is slowly approaching 151.90, where the Bank of Japan started currency interventions last year. The previous resistance line (145 Yen) was broken, which means this level is now a support level.
BoJ Suzuki: sharp fluctuations in the yen are undesirable; the Central Bank adequately responds to excessive movements, and the Central Bank does not focus on the absolute yen levels during interventions.
AUDUSD and Swiss Statistics
RBA meeting minutes: further tightening of monetary policy may be needed - everything will depend on the incoming data, and inflation is expected to slow down.
AUDUSD returns from its resistance range (0.64560 - 0.64620) and starts rising. Williams %R left its overbought zone. In the middle-term timeframe the trend is still bearish, that's why be careful with long positions.
Swiss PPI was released at -0.6% YoY.
The Situation in the British and American Economies
The unemployment rate in the UK was released worse than in the forecast. The rate for June was 4.2%. GBPUSD didn’t react much. The British pound keeps rising after touching the lower channel line.
The US S&P500 is returning to 4400 points. The index dropped down the trend line and kept falling. The semiconductors sector is in the falling leaders. Nvidia stocks have a large gap from 25th May. If the price drops, bears may try to close this gap and push the price to the range of $320 - $350
Bitcoin and Gold Prices
BTCUSD is in flat. 100MA is moving sideways. But the global trend is still bullish. That’s why long positions are preferable to shorts.
XAUUSD reached its 200MA ($1902.65). The price may try to reverse and rise. But before opening long positions, we should wait for confirmation signals. What are your ideas about gold, guys? Are you buying or selling it?
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