10 Sep ~ Your Daily Dose of Market Insights by OANDA

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Highlights of key events, data & short-term technical outlook by Senior Market Analyst Kelvin Wong to kickstart your day on 10 Sep 2024, Tuesday.

00:00 Start & Disclaimer
01:42 Prior Session Key Economic Data, Events & Performances of Cross Assets
12:18 Fundamentals & Intermarket Analysis
19:12 EUR/USD Technical Analysis
20:31 GBP/USD Technical Analysis
22:39 AUD/USD Technical Analysis
24:05 USD/JPY Technical Analysis
25:13 CHF/JPY Technical Analysis
27:43 Hong Kong 33 Technical Analysis
29:16 Japan 225 Technical Analysis
30:49 Germany 30 Technical Analysis
32:02 US Wall St 30 Technical Analysis
33:40 US Nas 100 Technical Analysis
35:10 Gold (XAU/USD) Technical Analysis
36:15 West Texas Oil Technical Analysis
37:27 Key Economic Data/Events For Today

Key events/data:
Share price of Apple reacted negatively with an intraday drop of -1.9% as yesterday, 9 Sep Apple key product launch went underway and ended the session almost unchanged +0.04%.
The new upcoming iPhone 19 does not immediately come with the much touted “cash cow jewel” Apple Intelligence (an AI driven feature). Instead, Apple Intelligence will be make available to iPhone users via software updates and its only available in beta testing (implied that is still some security & privacy issues yet to be resolved). Hence, the positive revenue impact of the new iPhone 19 to Apple’s balance sheet may only be visible in next year Q1 and Q2 earnings results.

Fundamentals & Intermarket analysis:
US high yield corporate bonds credit spread has a direct correlation with a basket of G-10 JPY crosses; A push up in the credit spread saw a similar up move in JPY strength and such movement precedes a recession in the US based on past data. Current price actions of the US high yield corporate bonds credit spread has started to display a higher low.

Key events/data to look out for today:
UK Unemployment Rate (Jul)

Key events/data to look out for tomorrow’s early Asian session, 11 Sep:
US Presidential Debate
AU Consumer Inflation Expectations (Sep)
RBA Official Speech (Hunter)
BoJ Official Speech (Nakagawa)

Short-term technical outlook:
US Wall Street 30, US Nas 100, Hong Kong 33, Japan 225, Germany 30, EUR/USD, GBP/USD, AUD/USD, USD/JPY, CHF/JPY, Gold (XAU/USD) & West Texas Oil.

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