TSN could rise above its resistance level, towards $60

AAATrade Team AAATrade

Today’s instrument is the Tyson Foods Inc.‘s traded in NYSE exchange under the ticker TSN.

Looking at the TSN‘s chart, we can see that it is traded around its resistance level at $56.27.

Next week, Tyson Foods is announcing its quarterly earnings and if the market’s anticipation is positive then we should expect its price to rise above the resistance level with the potential to approach the next one at around $60, otherwise it could retreat towards its support level at around $50.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

AUD/USD picks up amid easing geopolitical tensions, bright data from China

The Australian Dollar posts moderate gains against the US Dollar on Tuesday, regaining some of the ground lost last week, although it remains at its lowest level in nearly two months. News that Israel and Iran halted hostilities has triggered a mild relief rally. At the same time, upbeat Chinese trade data has provided additional support for the Aussie, as China is Australia’s major trading partner.

Japanese Yen steadies near recent lows as ceasefire, Japan intervention threats offset

USD/JPY trades around 160.15 on Tuesday, remaining close to its highest level since April 30 despite a broadly neutral intraday performance. The pair retains an underlying bullish bias, supported by expectations that US monetary policy will remain restrictive, although upside potential is being capped by the risk of intervention from Japanese authorities.

Gold stays slightly bid near $4,340

Gold remains stuck in a narrow range on Tuesday, still trading below the $4,400 mark per troy ounce. The precious metal’s marginal advance comes on the back of easing geopolitical tensions and a deeper retracement in the US Dollar, although the likelihood of a cautious Fed down the road should keep the metal under scrutiny.

Crypto Today: Bitcoin, Ethereum, XRP edge lower despite Middle East tensions easing

Cryptocurrency prices trade amid persistent selling pressure on Tuesday. Bitcoin (BTC) hovers near $63,000, Ethereum (ETH) above $1,650, and Ripple (XRP) around $1.14.

Hotter US inflation numbers could further bolster Fed hike bets

Middle East tensions keep inflation risks elevated. Fed hike fully priced in by year end amid strong NFP report. US CPI data on Wednesday (12:30 GMT) to enter the spotlight. Further acceleration in inflation could drive the Dollar higher.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.