CSFX Market News | Global Market Update

  The AUD/JPY currency pair is currently trading near its intraday low of around 94.00, as Australia’s Consumer Inflation Expectations eased in August, which is putting pressure on the sentiment. The data for Australia shows a drop to 5.9% from the previous reading of 6.3%, while the US Consumer Price Index (CPI) also decreased to 8.5% YoY in July, compared to the expected 8.7% and the previous reading of 9.1%. This has added to the economic concerns raised by the Reserve Bank of Australia (RBA), making it difficult for AUD/JPY bulls. Furthermore, there are fears related to China, which is Australia’s biggest customer, weighing on the AUD/JPY prices. According to sources, US President Biden is reconsidering his stance on China tariffs following Taiwan’s response. Additionally, there has been a surge in coronavirus cases in China, with 700 new confirmed cases reported on the mainland on August 10, compared to 444 the day before, which is also putting pressure on the pair. The S&...

  CADJPY TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, CADJPY is trading in an up channel. CADJPY is currently trading above all SMA. RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness. Its immediate support is 106.500 the resistance level is at 108.200 CADJPY will trade in an up channel until there is a trend reversal. CADJPY TECHNICAL ANALYSIS: DAILY CHART READ MORE

  MICRON TECHNOLOGY IS TRADING DOWN 1.94% AT 50.01 Shares of Micron Technology (NASDAQ:MU) are up nearly 3% in pre-market Friday despite the chipmaker reporting extremely soft guidance for its first fiscal quarter. Micron’s FQ4 earnings report has so far proved to be “sell the rumor buy the news” as shares trade higher despite a significant guidance miss. Micron reported an EPS of $1.45 on revenue of $6.64 billion, which compares to analyst estimates of $1.41 per share on revenue of $6.81 billion. For this quarter, the company is looking for EPS of $0.02 (the midpoint) on revenue of $4.25 billion (the midpoint). The offered guidance compares to the analyst consensus of $0.64 per share on revenue of $5.62 billion. The adjusted gross margin is seen between 24% and 28%, marking another material miss as consensus stood at 33.6% Read More

  EURUSD Technical Analysis: Weekly Chart In the weekly charts, EURUSD is trading in a down channel. EURUSD is currently trading below all SMA except MA (5). RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness. Its immediate support is 1.00600 the resistance level is at 1.01800 EURUSD will trade in a down channel until there is a trend reversal. EURUSD Technical Analysis: Daily Chart CLICK HERE FOR FULL REPORT 

  EURUSD: NEWS & TECHNICAL Euro slide as dollar marches higher After previously reaching a 24-year high versus the Japanese yen, the dollar gained momentum against the euro and pound on Thursday as investors prepared for higher U.S. interest rates and remained concerned about the state of the European economies. The pound struck a new two-and-a-half year low of $1.15545 down roughly 0.5% as the safe-haven dollar was boosted by swings away from riskier assets. The euro fell by 0.37% to just cling over parity versus the dollar at $1.10016. The U.S. dollar index, which compares the value of the dollar to a basket of other currencies, increased by 0.34 percent to 109.09, not far from the two-decade high of 109.48 reached on Monday. According to a poll, manufacturing output in the eurozone decreased for a second month in August, echoing a global decline in industrial activity. Despite a minor down this week, European energy prices are still quite high. EUR/USD TECHNICAL ANALYSIS: DA...

  NZDCAD TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, NZDCAD is trading in down channel. NZDCAD is currently trading below all SMA. RSI is in buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 0.8081 & the resistance level is at 0.8271. NZDCAD will trade in down channel until there is trend reversal NZDCAD TECHNICAL ANALYSIS: DAILY CHART Read Full Report Here

  EURAUD TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, EURAUD is trading in an up channel. EURAUD is currently trading below 50 and 100 days SMA & above 20 days SMA. RSI is in over bought zone which indicates mild bearishness. MACD is currently below zero which indicates bearishness. Its immediate support is 1.5052 & the resistance level is at 1.5584. EURAUD will trade in up channel until there is trend reversal. EURAUD TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FULL REPORT