US Wall Street

Weekly Market Recap – Lower US Consumer Confidence, Lower Jobless Claims, GDP On Track – PCE Ahead

Hello Traders,

As we are heading into this week’s market close with US PCE data remains to be announced here’s what we have seen this week thus far. With lower US consumer data early this week US equities recovered as we have seen US GDP at 3% as well as lower Jobless claims. On the other hand SNB’s 0.25% interest rate cut might impose signs of weakness in the CHF near term.

Gold has extended it’s gains early this week and now the focus should be shifting towards today’s PCE data and next week’s NFP. A higher than expected PCE today can cause a spike in US Dollar while metals to get weaker as well as Indices and stocks can be affected negatively as well. Anything below the forecast of 2.7% can support to maintain the current market dynamic which we had during the week.

Traders, should have in mind as well next week’s NFP as we are for a new month and volatility can come back in the markets. Let’s see the technical side of the US Dollar and relevant instruments.

USDX 4 HR – Closing Above 27.08.2024 & 18.09.2024 – Bias For A Potential Bounce Remains Intact

usdx 27.09

 

USDCHF – Will The 0.25% Rate Cut Weakens The CHF? – PCE Today & Next Week’s NFP Might Be Key

usdchf 27.09.2024

XAUUSD 4HR- Will The Momentum Divergence Hold & Produce A Pullback Towards The Trendline? PCE & NFP Are Key

XAUUSD 27.09.2024

ES500 Mini Futures – 4HR After New Contract & ATH – RSI Divergence Might Send A Warning Short Term For Buyers

ES500 Mini Futures 27.09.2024

As we have mentioned above today’s PCE data and next week’s NFP should be key to determine how markets will be reacting while keeping in mind the market’s technical indications and pivot points. We will be providing early on Monday the next week’s outlook.

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