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US Stock Market Technical Analysis | June 27, 2022

DJIA futures are slightly higher, looking to add more gain after the previous week’s bullish close. The stock market is set to open higher today as DJIA futures are up 42 points at the current time. Traders trying to stay positive as the second quarter will end soon. Despite the situation, traders might want to stay cautious as inflation might continue to increase and the economy set to enter a recession.
STOCKS
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Impending Drop in Japanese Retail Sales Strengthens CAD/JPY

Following a two-day drop, the CAD/JPY currency pair is taking offers to refresh intraday highs around 105.00. Traders became cautious and reduced their bullish bets on the CAD/JPY pair, fearing that further depreciation of the Japanese yen would necessitate some practical intervention. The Japanese retail sales data for May will...
RETAIL
Picture for Impending Drop in Japanese Retail Sales Strengthens CAD/JPY
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Starberry To Pay $1.37 Million To CFTC For Regulatory Violations

The Commodity Futures Trading Commission (CFTC) announced that it has fined Starberry Limited $1,376,206.81 for acting as a futures commission merchant (FCM) without authorization. The market regulator stated that between February 28 and March 17, 2020, Starberry accepted over $400 million from a foreign customer. After the customer deposited the fund in the company’s trading account, Starberry used the funds to execute NYMEX West Texas Intermediate (WTI) crude oil futures trades, according to the regulator.
ECONOMY

Forex Technical Cross Pairs Analysis | June 24, 2022

EUR/JPY started a bearish correction toward the 140.50 support level. However, there is no bearish continuation today. Traders will continue waiting for the pair to reach the support level and form a bullish reaction before entering long positions. On the lower side, as long as the pair stay above 137.40, there is no reason to turn bearish yet.
CURRENCIES

Forex Technical Major Pairs Analysis | June 24, 2022

USDX (USD Index) The index continues trading near the 103.82 level without major reactions. It seems the index will close the week near it and waiting for the catalyst to move next week. If the index could bounce from the level with strong bullish momentum then the bullish trend is set to continue. On the other hand, if the index breakout lowers then we might see further bearish correction toward the 100.00 – 100.30 area.
MARKETS

Microsoft Taps KPMG To Aid Cloud-Based Tax Technology

KPMG has announced a collaboration with Microsoft for investments in cloud-based technologies. The company said the main goal of the investment is to help firms become “future-ready.” The parties will be aiding companies and their operations via data and analytics applications, automation, machine learning, and AI. All these will be made possible on the Digital Gateway platform, powered by the Microsoft Azure cloud. The companies noted that the investment in cloud technology will deliver value for businesses in over 140 jurisdictions in the world.
BUSINESS

US Stock Market Technical Analysis | June 24, 2022

Stock futures nudge higher looking to end the bearish streak. DJIA futures are currently higher by 130 points which indicates a bullish continuation. Yesterday, the DJIA index managed to close higher 194.23 points after trading under bearish pressure for the most part of the trading day. Despite the bullish situation, traders will stay cautious as the bullish situation might turn bearish immediately.
STOCKS

Swiss FINMA Wants Stricter Laws Protecting Consumers In Digital Market

The Swiss Financial Market Supervisory Authority (FINMA) has advised other regulators to take more proactive measures to protect consumers and investors in the increasingly volatile market. The watchdog stated that regulators should offer more protection to consumers from “abuse in the freewheeling sector.”. Chief Executive Officer of FINMA, Urban...
ECONOMY

Forex Technical Cross Pairs Analysis | June 23, 2022

EUR/JPY trading under bearish pressure today before managing to print a new higher high. The pair move lower and soon will reach the 140.50 support level. Traders will observe the pair reaction near support levels for now as the bearish movement has strong momentum. Without bullish reactions, it is better to stay sideline for now.
CURRENCIES

Forex Technical Major Pairs Analysis | June 23, 2022

USDX (USD Index) U.S dollar index maintains the level above 103.82 but no bullish continuation yet from the level. The index might continue trading sideways near the level for now while waiting for the catalyst to move. There is testimony by the Fed in front of congress about the economy and the Fed’s plan to fight inflation.
BUSINESS

Daily Oil, Gold, Silver Technical Analysis | June 23, 2022

The consolidation near the daily SMA 200 has not ended yet. Gold prices stick near the daily SMA 200 and $1,850 level. Traders will continue waiting patiently for both levels’ reactions to get clues on the next direction. At the current time, the gold prices range movement looks to tighten. We might see major momentum movement after the current ranging movement.
MARKETS

Natural Gas Crashes 9% on Surprise Build in US Inventories

Natural gas futures crashed on Thursday following a larger-than-expected build in domestic inventories. The energy commodity has taken a beating over the last week after soaring beyond $9 on recession fears and a key facility offline that added a handsome sum back to the market. July natural gas futures plunged...
TRAFFIC

US Dollar Edges Higher As Markets Brace for Jerome Powell Testimony, Cooling Labor Market

The US dollar recorded a modest gain against its major currency rivals as financial markets were trading relatively flat at the opening bell on Thursday. Despite some easing in recent weeks, the buck is still one of the top-performing currencies in global forex markets. For now, it is about the data and Federal Reserve Chair Jerome Powell’s upcoming testimony.
BUSINESS