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The Week Ahead On The Markets
The week begins quietly with a UK bank holiday, though markets will no doubt still be digesting the Jackson Hole comments from Jerome Powell and other key central bankers. But the week also sees the release of US job numbers for August, plus the return of the ADP private payroll report.
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Risk-off mood to continue into the new trading week: S&P 500, Straits Times Index, US Dollar
The Jackson Hole speech by Fed Chair Jerome Powell led to an immense risk-off mood in markets, with the hawkish takeaway driving rate expectations to lean further towards a 75 bp hike in the September FOMC meeting.
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S&P 500 building on gains for second straight day: Brent crude, Nikkei 225, AUD/NZD
Major US indices ended on a positive note for the second straight day after a late-day push into the close, in anticipation of Fed Chair Jerome Powell’s speech at Jackson Hole today
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Markets on a breather ahead of Jackson Hole: Nasdaq 100, Hang Seng Index, US dollar index
Major US indices largely took a breather overnight, eking out small gains but nevertheless ending its week of losing streak.
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Your thoughts on ProRealTime
Thousands of IG clients love using ProRealTime for the Decision support tools, Trading interface, Automatic trading and Backtesting capabilities. Tell us about your experience using ProRealTime. 
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Third straight day of decline came with a lighter extent of sell-off: Brent crude, Straits Times Index, GBP/USD
Major US indices edged lower overnight once more, but the lighter extent of sell-off compared to the previous two trading days could suggest that the caution around some push-back of a dovish pivot may have been largely priced.
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Best UK shares to buy in September 2022
FRP Advisory Group, QinetiQ, and Phoenix Group could be 3 of the best UK shares to buy next month as investors re-focus on sustainable growth.
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ASX rising stars for 2022: BrainChip and Whitehaven
2022 has been a tough year for the Australian stock market but amidst the macro headwinds, two stocks manage to deliver mouth-watering returns.
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Worst single-day performance in two months for Wall Street: US dollar, USD/SGD, Brent crude
Major US indices continue to slide overnight while posting their worst single-day performance in two months, as de-risking in Wall Street continues ahead of the Jackson Hole Symposium.
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The Week Ahead On The Markets
A busy week ahead sees a raft of purchasing managers index (PMI) surveys on Tuesday, with the contraction seen in mainland European manufacturing expected to continue apace. A US GDP revision brings potential volatility for the dollar, although traders will likely spend more time focusing on the PCE inflation data and Jerome Powell’s Jackson Hole appearance as they look for signs that inflation has topped out.
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EUR/USD Update: Parity Approaches, Dollar Bid after Plenty of Fed Speak
‘Fed pivot’ in the rear-view mirror as USD retakes the driving seat
EUR/USD approaches parity once again – move appears unlikely to unfold this week
Main risk events: Jackson Hole (pseudo Fed meeting), US PCE inflation data
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Dividend Adjustments 22nd August 2022 - 29th August 2022
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 22nd August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
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The 5 crypto trading strategies that every trader needs to know
With a number of cryptocurrencies still entering the market today, interest in trading the asset is high as ever. Find the right cryptocurrency trading strategy for you by browsing our list of strategies below.
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UK Economic News
Markets open in just over 5 minutes. UK news out this morning worth checking before market open. Are you looking to trade/ have open positions in these markets. Let us know how your trading is effective/ any trades you're looking to make off the back of this news.
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Contractionary Monetary Policy: What is it and How Does it Work?
Contractionary monetary policy is the process whereby a central bank deploys various tools to lower inflation and the general level of economic activity. Central banks do so through a combination of interest rate hikes, raising the reserve requirements for commercial banks and by reducing the supply of money through large-scale government bond sales, also known as, quantitative tightening (QT).

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Where do stocks go from here?
The summer rally has helped improve the outlook for stocks after a tough first half of the year, but both the bullish and bearish cases have powerful arguments supporting them.
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Intuitive Surgical Inc. (ISRG:NASDAQ)  Elliott Wave Technical Analysis August 15, 2022
Elliott Wave Technical Analysis on Intuitive Surigcal Inc., (ISRG:NASDAQ) by tradinglounge. Join the conversation.
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Dividend Adjustments 15th August 2022 - 22nd August 2022
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 15th August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
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US Dollar Delicately Climbs as Fed Re-Affirms Rate Hikes Post Data. Where to for DXY?
The US Dollar once again recovered from a post data sell-off today
SF Fed President Daly squared the ledger, reminding markets of imminent rate hikes
The next FOMC meeting is some way off. Will the US Dollar get hit in the interim?
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Post in US Market news
US Consumer price index YoY and MoM coming out at 12:30 UK time as well as US CPI index Food and Energy MoM and YoY. The US fed reserve have been taking measures to tame inflation but these results may impact markets so keep an eye out.
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Crude Oil Price Anchored Ahead of US CPI Despite Disruptions. Will Data Drive WTI?
Crude oil prices are stagnant, disregarding inventory data and supply woes
The anticipation of US CPI has seen markets somewhat calm today
If CPI creates a storm, will a US Dollar move impact WTI prices?
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Swiss Franc Firming Against US Dollar and Euro. Will Momentum Take CHF Higher?
EUR/CHF made a 7.5-year low at the end of last month at 0.9699, moving below the previous low of 0.9804.

Since breaking lower, the price has not managed to reclaim 0.9804 and it may continue to offer resistance. The 21-day Simple Moving Averages (SMA)is currently at that level, potentially adding resistance.

Further up, the recent peak of 0.9957 might offer resistance ahead of the break point at 0.9973.

In the last session, the price has crossed below the 10-day SMA and remains below the 21-, 55-, 100- and 200-day SMAs.

A bearish triple moving average (TMA) formation requires the price to be below the short term SMA, the latter to be below the medium term SMA and the medium term SMA to be below the long term SMA. All SMAs also need to have a negative gradient.

Looking at EUR/CHF, the criteria for a bearish TMA has been met and may indicate that bearish momentum could evolve further.

Support might be at the recent low of 0.9699 or further down at the 161.8% Fibonacci Extension of 0.9638.


Chart created in TradingView 


USD/CHF has bounced off low made at the start of this month at 0.9470 to trade in a wide range of 0.9545 – 0.9650. These levels might provide support and resistance respectively.

While the price is below all short-, medium- and long-term Simple Moving Averages (SMA), they have positive and negative gradients. This may suggest a lack of conviction for directional momentum that might see further range trading.

Re-iterating this possibility is the price criss-crossing the 10-day SMA. Recent history has shown that when the price crosses the 10-day SMA, momentum in that direction continues. That is not the case over the last week.

The recent low of 0.9470 may provide support ahead of the break point at 0.9460. On the topside, resistance might be at the break point of 0.9710 or the July peak of 0.9886.

 Chart created in TradingView

Daniel McCarthy, Strategist Daily FX

Source: Daily FX
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Post in FTSE 📈 to drop soon
Check out phillo's analysis on the FTSE100. Are you tracking any technical analysis for the FTSE you want to share? If so join the forum.
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Rolls-Royce share price: half-year results
Rolls-Royce shares (LON: RR) sunk by 10% to 83p on Friday after half-year results spooked investors over long-running problems with supply chain issues and inflation.
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Dividend Adjustments 8th August 2022 - 15th August 2022
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
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