Making sense of mixed signs

Monica Kingsley Monicakingsley

S&P 500 erased premarket the NVDA high expectations issue – through broadening out. It even ran to my premium given 5,665 level, only to tumble from there. Stellar intraday gains in ES and IWM were though secured for clients. We have a bit conflicting signs ahead (rising yields, rising dollar – my long-term opinions are well known to clients), financials doing well, broadening out in the smaller caps of S&P 500, and challenged AI plays (AAPL is separating nicely from these) together with TSLA weakness called a few days ago (check its reversal yesterday).

Then there is the core PCE ahead today – predictions and market aftermath reserved for clients. Stay tuned for live coverage on Telegram and Twitter as always.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

EUR/USD struggles to hold above 1.1800 as USD stabilizes

EUR/USD loses its recovery momentum and retreats below 1.1800 in the second half of the day on Tuesday. The US Dollar finds a foothold after staying under pressure in the early European session, limiting the pair's upside in the near term.

GBP/USD pares gains below 1.3700 as mood turns cautious

GBP/USD enters a consolidation phase and holds steady near 1.3650 after rising above 1.3700 to start the European session. The cautious market mood seems to be making it difficult for Pound Sterling to outperform the US Dollar, while investors refrain from taking large positions ahead of the Bank of England's policy meeting later in the week.

Gold gathers recovery momentum, climbs above $4,900

Gold recovers further from its lowest level since January 6 and trades above $4,900, rising about 6% on a daily basis. The US Dollar holds steady following Monday's advance but XAU/USD preserves its bullish momentum, possibly supported by dip-buying that came after the sharp decline.