DXY Evening Star for Aug. Wk 4 | 10:22:32 (UTC) Mon Aug 23, 2021
Asian indexes gained widely on Friday, providing a brief respite for equity markets late Friday that has continued into this week. Concerns about the global outlook remain because of China's prolonged slump, and the widening spread of the Delta variation contributes to the unstable state of affairs even more. The Federal Reserve's Kaplan said that if the Delta variation were permanent or influenced demand, policy views would have to be changed appropriately. This was the primary reason for the rebound in stock markets. Besides the fact that Kaplan is one of the bank's most hawkish members, more moderate members may repeat his statement since he is the first Fed official to openly say that the trend of Covid cases may lead the Fed to change its position.
We have already seen how one Covid case and the subsequent lockdown announcement caused the Reserve Bank of New Zealand to defer raising interest rates last week, and the Federal Reserve may sound a little more cautious on the short-term outlook at the upcoming Jackson Hole Symposium, which will now be held entirely online. We should note that, since the July FOMC meeting, the 7-day average number of new Covid cases has soared, from 69k to 167k. Increasing the number of Fed officials who discuss the potential of changing their monetary policy outlook in response to the rise in Covid cases may bolster risk sentiment, affecting on the dollar, particularly when compared to high-beta currencies.
In the stock market, an evening star is a chart pattern that may predict when a trend is likely to reverse. Using this bearish candlestick pattern, they merge three candles to create the shape of a triangle: one big white candlestick, one small-bodied candle, and one red candle. They think that the emergence of evening star patterns heralds the conclusion of a market upswing and signals the beginning of a downward trend.
We have already seen how one Covid case and the subsequent lockdown announcement caused the Reserve Bank of New Zealand to defer raising interest rates last week, and the Federal Reserve may sound a little more cautious on the short-term outlook at the upcoming Jackson Hole Symposium, which will now be held entirely online. We should note that, since the July FOMC meeting, the 7-day average number of new Covid cases has soared, from 69k to 167k. Increasing the number of Fed officials who discuss the potential of changing their monetary policy outlook in response to the rise in Covid cases may bolster risk sentiment, affecting on the dollar, particularly when compared to high-beta currencies.
In the stock market, an evening star is a chart pattern that may predict when a trend is likely to reverse. Using this bearish candlestick pattern, they merge three candles to create the shape of a triangle: one big white candlestick, one small-bodied candle, and one red candle. They think that the emergence of evening star patterns heralds the conclusion of a market upswing and signals the beginning of a downward trend.
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