Monica Kingsley
Monicakingsley
Yesterday‘s S&P 500 continued in the remarkable breadth moves, check new highs new lows. True, daily breadth was unconvincing, but are the leading daily underperformers to keep lagging behind? I have my reservations, but let‘s focus on what‘s working – tech and communications – this is beyond AVGO or economic data that I am discussing at length in today‘s video.
What are my expectations as regards tomorrow‘s NFPs? Employment change preview yesterday came in very poor, but I‘ve commented on that right away in the premium channel both today and yesterday – price ascent called. Pressures are building up, but they aren‘t recessionary – be ready for turbulence on the data release, and together with AVGO earnings prospects, I‘m sharing that in the client section.
Looking at yields, funny what the dollar will do on the data.
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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AUD/USD drifts lower ahead of Aussie employment details
AUD/USD trades with a negative bias above the 0.6500 mark, and over a one-week low touched on Wednesday, as traders await the Australian jobs report for fresh impetus. In the meantime, bets that the Fed will keep rates higher for longer revive the US Dollar demand following the previous day's good two-way price swings and weigh on the currency pair.
USD/JPY retakes 148.00 amid reduced BoJ rate hike bets
USD/JPY builds on the overnight goodish rebound from sub-147.00 levels and gains some positive traction during the Asian session on Thursday. Bets that the BoJ would hold off raising interest rates and disappointing Trade Balance data from Japan weigh on the Japanese Yen amid a bullish market sentiment. Furthermore, renewed US Dollar buying lends support to the currency pair.
Gold price ticks lower amid reduced safe-haven buying, modest USD strength
Gold price moves further away from a three-week high touched on Wednesday amid fading safe-haven demand. Moreover, bets that the Fed would delay cutting interest rates amid inflation concerns and the emergence of fresh US Dollar buying weigh on the bullion. However, trade-related uncertainties could offer some support to the XAU/USD ahead of US macro data.
Australia unemployment rate expected to hold steady in June
Australia is set to release the June employment report at 1:30 GMT. The Australian Bureau of Statistics is expected to announce that the country added 20,000 new job positions in the month, reversing the 2,500 lost positions announced in May.
China’s first-half growth remains on track, though activity data signals caution
China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.
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