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WHAT HAPPENED: The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
GBPCAD is currently in the downward channel. Further downside can be seen in the coming week.
CB Consumer Confidence (Aug), U.S.
WHEN: WHAT IT HAD INFLUENCED:
30th AUGUST 2022 USD and its subsequent pairs
WHAT HAPPENED: Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
USDSEK is currently in the upward channel. Further upside can be seen in the coming week.
Retail Sales (MoM) (Jul), AUSTRALIA
WHEN: WHAT IT HAD INFLUENCED:
28th AUGUST 2022 AUD and its subsequent pairs
WHAT HAPPENED: Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
AUDUSD is currently in the downward channel. Further downside can be seen in the coming week.
Gold Down 3rd Week in Row as U.S. Jobs Suggest More Painful Fed Hikes
WHAT IT HAD INFLUENCED:
TOP COMMODITIES IN THE COMING WEEK
GOLD
GOLD is trading in the down channel; an downside will be seen in the coming days.
WALLSTREET LOWER ON THE EXPECTATION THAT FED STILL NEEDS AN INTEREST RATE HIKE Asia-Pacific stocks tracked Wall Street losses and the yen fell on Friday. The Shanghai Composite is down 0.11% at 3,278.39. Overall, the Singapore MSCI is down 0.03% at 308.45. Over in Hong Kong, the Hang Seng Index is up 0.61% at 20,150.00. In Japan, the Nikkei 225 is up 2.63% at 28,510.00, while the Topix index is up 2.07% at 1972.50. South Korea’s Kospi is up 0.11% at 2,526.55. Australia S&P/ASX 200 down 0.65% at 7024.90. Top News of the Day: The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 closed a tad lower after earlier hitting fresh three-month highs following data that showed the U.S. producer price index (PPI) unexpectedly fell in July. Market Summary as per 11/08/2022: European equities Thurs
EURCHF TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, EURCHF is trading in an upward channel. It is trading above MA (20) but below MA (50) and MA (100). RSI is in buying zone which indicates bullishness. MACD is currently trading below zero which indicates bearishness. The immediate support is at 1.02268 and the resistance level is at 1.05095 EURCHF is trading in an upward channel until there is a trend reversal. EURCHF TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FUL L REPORT
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