Market Insights:
1. Global equities experience slight decline amid concerns over rising interest rates and weakening economic indicators.
2. Japanese authorities face pressure as the yen weakens due to market expectations of maintaining ultra-low interest rates.
3. Uncertainties persist in the global economic outlook, with China's factory activity declining for a third consecutive month.
4. US economy shows resilience but intensifying yield curve inversion raises concerns of future recession risk.
5. Offshore yuan remains under scrutiny, reaching its lowest level against the dollar in seven months.
6. Australian and New Zealand sovereign bond yields increase, reflecting ongoing debate on central bank policies and their impact on bond markets.
7. Oil prices fluctuate amid global economic uncertainties and changing supply dynamics, impacting energy markets and investor sentiment.
8. The US dollar shows modest strength against major rivals, contributing to the overall dynamics of global trade and currency markets.
Key events today:
US personal income and spending, University of Michigan consumer sentiment,
Canadian GDP m/m
Dollar Index (DXY) Intraday:
Pivot Level: 103.19
Gold Intraday:
Pivot Level: 1904.78
Gold Price-Weekly Chart. Inverse Head & Shoulder.
USD/JPY Intraday:
Pivot: 144.61
AUD/USD Intraday:
Pivot: 0.6617
Crude Oil (WTI)‎ Intraday:
Pivot: 69.80
USD/CAD Intraday:
Pivot: 1.3260
EUR/USD Intraday
Pivot: 1.089
GBP/USD Intraday:
Pivot: 1.262
.
EUR/GBP Intraday:
Pivot: 0.8625
Based on Today's Fundamental and Technical Market Insights
Nasdaq 100 Intraday:
Pivot:
14,934.00
Here's a simple explanation of a trading strategy for intraday trading that is general used.
Market Insights
The market insight provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products. Comments and analysis reflect the views of Chump Profit at any given time and are subject to change at any time. Moreover, they cannot constitute a commitment or guarantee on the part of Chump Profit. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. ©2023 by Chump Profit.
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