All Market Live: September 2020

Wednesday, 30 September 2020

Crude Oil Price Forecast: Boosted by Weaker USD, Falling Stockpiles

WTI crude oil prices climbed on stimulus hopes and a bigger-than-expected fall in DOE stockpiles. An immediate resistance level can be found at US$ 40.4 – the 100-Day SMA

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AUD/USD Rebound to Gather Pace as RSI Shows Bearish Momentum Abating

AUD/USD extends the rebound from the September low (0.7006) as the RSI appears to be on the cusp of snapping the downward trend carried over from the previous month.

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Copper Price Eyes 2020 High as China Data Indicates Robust Recovery

Copper may continue to climb higher in the final quarter of 2020, as soaring Chinese demand and rebounding global manufacturing activity underpins the ductile metal.

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ASX 200 Follows Wall Street's Post-Debate Rally, Tokyo Delays Open

Asia-Pacific stocks may follow positive leads from the US markets. Sentiment was lifted by stimulus hopes and a better-than-expected ADP jobs report.

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Will Trade Wars Persist After the US Election?

What will the global economy and international trade regime look like under a Trump or Biden administration and how will that impact foreign exchange markets?

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EUR/USD Bullish Price Sequence Pushes RSI Towards Trendline Resistance

The Relative Strength Index (RSI) may offer a bullish signal for EUR/USD as it reverses ahead of oversold territory and approaches trendline resistance.

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S&P 500 Near Key Resistance After First US Presidential Debate. Who Won?

The S&P 500 is trading near key resistance following the first US presidential debate. Subsequent polling data showed one candidate significantly outperformed his counterpart.

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Canadian Dollar Forecast: CAD/JPY Hovers Over Major Support

The Canadian Dollar has weakened alongside equity markets in September, sending CAD/JPY to test major support. With the market tip-toeing between risk appetite and aversion, where is the pair headed?

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Dow Jones, Nasdaq 100, S&P 500 Forecast for the Month Ahead

US equity markets concluded an expectedly volatile month of September with notable losses as investors juggled stimulus hopes with continued covid outbreaks and election uncertainty. What’s next?

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US Dollar: Ready to Rumble with High-Impact Data - EURUSD, AUDUSD

We're now in the final hours of Q3 and the rest of this week brings a plethora of high-impact data points out of the US.

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Will Trade Wars Persist After the US Election?

Rand Report: Why “Lower” Unemployment May Hurt the Rand, USD/ZAR

Stats SA have released the unemployment figures for Q2 showing a decrease in unemployment at a time when the local economy contracted 51%, on an annual basis, in the same period

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EUR/USD Price Remains Under Pressure on Lowly Inflation Expectations

The European Central Bank will need to act further if growth remains low and inflation subdued, President Christine Lagarde suggested earlier today, weighing on the single currency.

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Canadian Dollar Forecast: Key USD/CAD Levels to Watch

In the very short term, price action in USD/CAD is likely to be distorted by month-end flows

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British Pound (GBP) Latest: GBP/USD Easing After Debate, UK GDP, House Prices

GBP/USD is slipping lower after the US Presidential debate led to a modest ‘risk-off’ tone in the markets. UK second-quarter GDP has been revised higher and UK house prices have risen again.

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Nasdaq 100 Reacts to Key Resistance as Market Awaits Fiscal Stimulus

The Nasdaq 100 index’s rebound from the monthly low seems to be running out of steam as the prolonged wait for much-needed fiscal aid saps investors' sentiment.

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Tuesday, 29 September 2020

Gold, Silver Price Analysis: Weighed by Stronger US Dollar Post-Debate

Gold and silver prices paused a 3-day rally as US Dollar rose after the first US presidential election debate. Key support levels can be found at US$ 1,875 and US$ 22.90 respectively.

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USD/CAD Outlook: August High Still on Radar as RSI Tracks Upward Trend

The August high (1.3451) remains on the radar for USD/CAD as the RSI tracks the upward trend established in September and approaches overbought territory.

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USD Unfazed While SPX Set to Open Higher Following Presidential Debate

The US Dollar held firm while S&P 500 futures nudged marginally higher after the first presidential debate of the US 2020 elections took centerstage.

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Dow Jones Eyes First US Election Debate, Hang Seng Index May Rebound

The Dow Jones Industrial Average was in a cautious mode ahead of the first US presidential election debate. The Hang Seng Index may enjoy a relief rebound after Evergrande stroke a debt deal.

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NZD/USD Recovery Takes Shape Following Failure to Test August Low

A further improvement in risk appetite may fuel a larger recovery in NZD/USD amid the inverse relationship between the US Dollar and investor confidence.

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XAU/USD, Equity Markets Anxiously Eye First Presidential Debate

Gold prices and stock markets will be nervously eyeing the first 2020 US presidential debate between Joe Biden and Donald Trump amid ongoing US fiscal stimulus talks.

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Canadian Dollar Forecast: CAD/JPY Hovers Over Major Support

DAX 30 Forecast: What to Expect in the Week Ahead

The DAX 30 rebounded to start the week until a continuation higher was undermined by weakness in US equities. Consequently, price has stalled at nearby resistance.

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Central Bank Watch: BOE, ECB, & Fed Rate Expectations; EUR/USD, GBP/USD, & USD/JPY Positioning Update

The ECB has seen rate cut odds creep forward, while BOE odds are unmoved by the latest Brexit headlines.

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US Dollar Price Forecast: USD Pulls Back as US Data Releases Begin

September has so far brought a bullish bump into the USD - but can it last through the next four days of high-impact data releases out of the US?

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GBP/USD, GBP/JPY, USD & More: Charts & Technical Analysis

Sterling looks vulnerable versus both USD and JPY, DXY pullback is taking price into support zone.

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How Does the Stock Market React to the First US Presidential Debate? - US Market Open

With all eyes on the First US Presidential Debate, here is how the stock market typically reacts.

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Market Sentiment Rally Lifts EUR, GBP, AUD, but Stocks Lag | Webinar

Trader confidence is rising in the FX market, benefiting ‘risk-on’ currency pairs like EUR/USD, GBP/USD and AUD/USD. However, there is less confidence in the stock markets.

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Japanese Yen Outlook: Key USD/JPY Levels Amid Month-end Rebalancing

USD/JPY and cross-yen faces upside risks in the short term amid month-end rebalancing.

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British Pound (GBP) Latest: Stronger all Round as Brexit Talks Resume

GBP/USD is firmer and many Sterling crosses are higher on a minor risk rally. That’s despite a lack of progress in the EU-UK talks on a post-Brexit trade deal.

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DAX 30 Index Rebound at Risk on Merkel's Warning, Covid-19 Second Wave

Germany’s DAX 30 index’s rebound may prove short-lived as a worrying surge in Covid-19 infections threatens to upend the nation’s economic recovery.

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Monday, 28 September 2020

Crude Oil and Gold Prices Eyeing Pelosi-Mnuchin Meeting on Stimulus

Crude oil and gold prices gained on US fiscal stimulus hopes. Ahead, the focus for WTI and XAU/USD shifts to a meeting between Nancy Pelosi and Steven Mnuchin.

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EUR/USD Rate Trades in Defined Range Despite Dovish ECB Guidance

EUR/USD may trade within a defined range over the coming days as the European Central Bank (ECB) appears to be in no rush to alter the path for monetary policy.

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Dow Jones Climbs on Stimulus Hopes, ASX 200 and Nikkei 225 Advance

Dow Jones Industrial Average surged for a second day on fiscal stimulus hopes. The US Dollar fell alongside VIX volatility index. Asia-Pacific equities opened broadly higher.

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GBP, USD Eye Brexit, Presidential Debate & Outlook for Stimulus Talks

The British Pound and US Dollar will be contending with the rising geopolitical risks of Brexit, US fiscal stimulus talks and the first presidential debate in a data-packed week.

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Euro Forecast: Failed Breakouts or False Breakdowns? Levels for EUR/JPY & EUR/USD

As the DXY Index has clawed back gains in recent weeks, EUR/USD rates have slid back. Their fates remain intertwined.

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AUD/USD to Stage Larger Rebound as RSI Reverses from Oversold Zone

AUD/USD looks poised to extend the rebound from the monthly low (0.7006) as the Relative Strength Index (RSI) appears to be reversing from oversold territory.

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S&P 500 Surges on Fiscal Stimulus Hopes Ahead of Presidential Debate

The S&P 500 surged after optimism about bipartisan stimulus talks crossed the wires and revived sentiment just less than 36 hours ahead of the first presidential debate.

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XAU/USD: Gold Price Attempts to Base as US Dollar Peels Back

Gold prices advanced about 1% on Monday as precious metals aim to stabilize after falling sharply last week. XAU/USD likely recovered lost ground owing to a broad pullback in the US Dollar fueled b...

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Why Did the Stock Market Rally Today? Nasdaq 100 Week Ahead

US equities began the week with a show of force as they surged higher on the back of broad market strength. That said, the Nasdaq 100 will have to weather upcoming data if it is to continue.

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Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week

It's a big week as the door closes to Q3 and opens to Q4, and we have a busy economic calendar to work with.

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Markets Week Ahead: US Dollar, Gold , Dow Jones, Sterling, US Stimulus, NFPs

The US Dollar soared as the Dow Jones and S&P 500 extended losses, gold prices fell. Investors may be growing increasingly impatient for further US fiscal stimulus. The British Pound faces more Bre...

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Gold, Silver Price Forecast: Will 100-Day SMA Hold or Break?

Gold and silver prices are consolidating near their 100-Day Simple Moving Averages (SMAs) at US$ 1,870 and US$ 22.80 respectively. The US Dollar is closely eyed.

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USD/JPY Rebound Fades On Renewed Stimulus Optimism, Vaccine Progress

The USD/JPY exchange rate’s 5-day recovery from multi-month lows could fade in light of renewed stimulus optimism and Covid-19 vaccine progress.

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Sunday, 27 September 2020

US Dollar Rose, Capital Fled Emerging Markets. SGD, IDR, PHP, MYR at Risk?

The US Dollar soared against emerging market and ASEAN currencies as capital fled developing economies in a sign of rising concern about the global growth outlook. Will this continue?

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Gold Price Holds Steady as Fed Balance Sheet Approaches June Peak

The price of gold holds near the monthly low ($1849) as the Federal Reserve’s balance sheet widens for the second week to reach its highest level since June.

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GBP, USD Eye Brexit, Presidential Debate & Outlook for Stimulus Talks

Japanese Yen Outlook: AUD/JPY, CAD/JPY, EUR/JPY Levels To Watch

The Japanese Yen’s 5% surge from the yearly low could prove to be a mere counter-trend correction as key chart resistance appears to have stifled topside potential.

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NZD/USD Analysis: Bearish Price Sequence Sputters Ahead of August Low

NZD/USD may consolidate going into October as the decline from the monthly high (0.6798) sputters ahead of the August low (0.6489).

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Nasdaq 100 Futures Extend Gains, Hang Seng and Nifty 50 May Rebound

Nasdaq 100 futures climb in early Asia hours after rising 2.26% on Friday, setting an upbeat tone for Asia-Pacific open. The US Dollar index retraces.

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AUD/USD Analysis Ahead of Presidential Debate, Supreme Court Nominee Battle

How will AUD/USD perform ahead of the first Biden-Trump presidential debate against the backdrop of the ongoing battle over the Supreme Court vacancy?

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AUD/USD Analysis Ahead of Presidential Debate, Supreme Court Nominee Battle

Markets Week Ahead: US Dollar, Gold , Dow Jones, Sterling, US Stimulus, NFPs

S&P 500 Price Forecast: US Presidential Election May Spook Volatility

The S&P 500 index may struggle with a consolidation in view of several headwinds. The US presidential election may cool risk appetite and spook volatility.

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Mexican Peso Fundamental Forecast: Banxico Tries to Aid Economic Recovery

USD/MXN pushes higher as a long-awaited correction in the US Dollar gets underway

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Saturday, 26 September 2020

Euro Forecast: EUR/USD Outlook Still Bearish But Bounce Due

EUR/USD fell sharply last week and there are few signs yet that the selling is over. However, a bounce is likely before the decline resumes

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Gold Price Outlook: Rising US Dollar Sinks XAU/USD, Will Losses Extend?

Anti-fiat gold prices suffered the worst week since August as the US Dollar gained ground. Will losses extend? All eyes turn to fiscal stimulus hopes and non-farm payrolls data.

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USD Volatility Ahead? Presidential Debate, Stimulus Talks & NFPs on Deck

The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data.

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Friday, 25 September 2020

Oil Price Rebound Stalls Ahead of Monthly High with OPEC on Sidelines

The price of oil may continue to trade in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43).

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Australian Dollar May Extend Fall Despite Easing Covid-19 Restrictions

The Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6.

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GBP/USD Weekly Forecast: Cautious Optimism Signals a Brexit Deal is Near

GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near.

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South African Rand Price Forecast: USD/ZAR Breakout Potential Brewing

South African Rand depreciates against major currencies but remains confined by trendline resistance

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Australian Dollar Forecast: Key AUD/USD Levels to Watch

US correction and fuelling expectations of RBA easing weighs on the Australian Dollar.

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British Pound Latest (GBP) - Are the UK and EU Nearing a Brexit Agreement?

GBP/USD to remain choppy, while optimism over EU-UK Brexit negotiations are rising.

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Thursday, 24 September 2020

EUR/USD Rates May Extend Slide Lower on Covid-19 Second Wave Fears

The EUR/USD exchange rate is at risk of extending its slide lower as a ‘second wave’ of coronavirus infections in Europe notably sours risk appetite.

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Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Dow Jones Industrial Average futures climb in early Asia hours after rising 0.29% as the VIX volatility index fell. Asia-Pacific equities look for a relief rebound.

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USD/CAD Rate Searches for Resistance as RSI Tracks Upward Trend

USD/CAD trades to a fresh monthly high (1.3418) and the exchange rate may continue to search to resistance as the RSI tracks the upward trend established in September.

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AUD/USD at Key Support, Trump Popularity Edging Up Despite Virus Spike

AUD/USD may be at a turning point as the pair tests critical support following an intense selling bout. President Donald Trump’s popularity is slightly recovery ahead of the first presidential debate.

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Australian Dollar Outlook: AUD/USD Drops to Fresh Two-Month Low

AUD/USD price action fluctuated in a wide trading range on Thursday as bulls and bears battle over the market’s next direction, but the Australian Dollar closed the session in the red and at fresh ...

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DAX 30 Price Outlook: German Index Broke Trendline Support, Now What?

The DAX 30 broke beneath a pivotal trendline this week which may have opened the door to further losses. With equity weakness persisting, where might the DAX find secondary support?

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Gold Price Forecast Sours as Losses Mount

Gold suffered a substantial pullback this week, erasing weeks of gains and severely damaging important technical structures. As a result, the outlook for the precious metal has soured.

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USD/CAD Price Outlook: Canadian Dollar Recoils at 100-Day MA

Spot USD/CAD just reversed sharply lower after rejecting its 100-day moving average near the 1.3400-price level. Can the Canadian Dollar continue reclaiming lost ground or will USD/CAD resume its s...

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IBEX 35 Forecast: Rising COVID Infections Exacerbates Bearish Technical Picture

The IBEX 35 index broke lower this week and continues to underperform against the DAX 30 Index and EU 50 Index, as Spain grapples with another round of lockdowns following a rise in Covid cases

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Dow, Nasdaq Price Forecast: Sellers Drive as Q4 Open Nears

It was a summer to remember for stock bulls - but now that the calendar has turned into fall, a different market tonality has begun to show itself.

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No Respite for Euro as German Ifo Index Misses Expectations

Germany’s Ifo business climate index came in below economists’ forecasts in September, potentially adding further downside pressure on EUR/USD, which has been hit hard by US Dollar strength.

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US Dollar Winning the Safe-Haven Battle vs JPY and CHF

US Dollar takes the title of preferred safe-haven against the Japanese Yen and Swiss Franc

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British Pound (GBP) Latest: More GBP/USD Weakness Ahead of Sunak Speech

GBP/USD is continuing to slide on a strong US Dollar as traders wait for a speech by UK Chancellor Rishi Sunak in which he will announce new plans to support jobs through the winter.

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Dow Jones Industrial Average Eyeing 200-DMA as Risk Appetite Abates

The Dow Jones Industrial Average looks poised to slide back to its 200-day moving average as risk appetite continues to evaporate in the absence of additional stimulus

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Wednesday, 23 September 2020

Crude Oil Prices Swing Lower on Demand Concerns, Strong USD

Demand concerns and a rising US Dollar sent crude oil prices lower on Wednesday. Cloudy economic recovery prospects weighed on sentiment, despite falling US crude inventories.

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EUR/USD Rate Takes Out August Low as RSI Tracks Downward Trend

EUR/USD may face a further decline as it takes out the August low, while the RSI continues to track the downward trend carried over from the end of July.

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Gold and Silver Vulnerable on Stagnating Stimulus Talks, USD Resurgence

Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD.

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S&P 500 Breaks 23.8% Fibonacci, Hang Seng and Straits Times Fall

Asia-Pacific equities face a cloudy day ahead after a bloodbath US trading session. The US Dollar climbs, the VIX volatility index surges and risk assets are in a “risk off” mode.

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Market Outlook Ahead of the First Biden-Trump Presidential Debate

What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls?

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NZD/USD Forecast: Bearish Price Sequence Brings August Low on Radar

NZD/USD appears to be on track to test the August low (0.6489) as it extends the series of lower highs and lows from earlier this week.

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EUR/USD Selloff to Accelerate? Biden-Trump Race for Florida Tightens

EUR/USD crossed a key threshold, potentially marking the start of a deeper reversal as the spread between Biden and Trump in Florida tightens; but what does general election data indicate?

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Nasdaq 100 Forecast: Exodus from Tech ETF Has Worrisome Historical Parallel

The Nasdaq 100-tracking QQQ ETF saw its largest outflow since October 2000 on Friday, revealing conviction behind recent declines in technology stocks. Will outflows continue?

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USD/CHF Price Outlook: Swiss Franc Falls Sharply Ahead of SNB

The Swiss Franc has floundered over recent trading sessions as the US Dollar strengthens sharply, which has sent USD/CHF price action ripping higher headed into a monetary policy update from the SNB.

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DAX 30 Price Outlook: German Index Broke Trendline Support, Now What?

US Dollar Extends Rally as Global PMI Data Fans Volatility

The US Dollar is pushing higher against major FX peers on the back of discouraging global PMI data, and USD price action could sustain its rebound off two-year lows amid resurgent volatility.

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Gold Price Forecast: XAU Sinks to Support, Gold Fresh Monthly Lows

Gold prices flew up to a fresh all-time-high in early-August but, since then, matters have changed. This morning saw a fresh monthly low print in Gold.

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AUD/NZD Outlook: RBA vs RBNZ Monetary Divergence Wanes

AUD/NZD upside may struggle as RBA looks to ease policy further. RBNZ stands pat with little expected prior to NZ election.

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EUR/GBP Outlook: Freight Adds to Brexit Woes, UK PMI, Bullish Pennant

The UK government warned that EU bound freight trucks could face a 7000-truck-long queue at Kent - a major gateway to Europe - after the UK leaves the customs union

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British Pound (GBP) Latest: GBP/USD Will Likely Fall Further, FTSE Up

GBP/USD dropped through an important support level Tuesday, suggesting more losses are on the way. The next key support comes from the 200-day moving average at 1.2655.

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US Dollar Tracks Shift in Risk Sentiment Despite Powell Testimony

The US Dollar appeared to dismiss Federal Reserve Chair Jerome Powell’s recent testimony as Covid-19 ‘second wave’ concerns fuel haven inflows.

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Tuesday, 22 September 2020

Gold, Silver Price Forecast: Key Supports Broken as US Dollar Strengthens

Gold prices broke a key support level at US$ 1,910, as a rising USD Dollar weighed on precious metal prices. Silver prices drifted lower for a third day, eyeing key support at US$ 23.30.

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AUD/USD Rate Eyes August Low as RBA Outlines Monetary Policy Options

AUD/USD appears to be on track to test the August low (0.7076) as the Reserve Bank of Australia (RBA) provides further details regarding the options for monetary policy.

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Copper Price Outlook Remains Bullish Despite Shift in Risk Appetite

Copper prices may continue to push higher despite a worrying surge in Covid-19 cases and the lack of progress in Congressional stimulus negotiations.

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New Zealand Dollar Gains on RBNZ, But NZD/USD May Follow S&P 500 Lower

While the New Zealand Dollar rose on the RBNZ rate decision, NZD/USD remains at the mercy of risk trends given recent volatility in the S&P 500. Kiwi’s broader decline may continue.

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Market Outlook Ahead of the First Biden-Trump Presidential Debate

Dow Jones Rebounds, DAX Consolidates, Hang Seng May Form "AB=CD"

Dow Jones Industrial Average futures fluctuated in early Asia hours after rising 0.52% on Tuesday. The VIX term structure flags higher volatility on Election days.

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Gold Price Trades Below 50-Day SMA for First Time Since June

The price of gold appears to be broadly tracking the change in global equity prices, and a further shift in risk sentiment may spur a test of the August low ($1863).

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Nasdaq 100 Recovering? Biden-Trump Election Betting Spread Widens

The Nasdaq index may be at the beginning of a recovery as the Biden-Trump 2020 election betting averages widen to their broadest spread since mid-August.

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Nikkei 225 & ASX 200 Price Forecast: Stock Selloff Sees Support Broken

An abrupt reversal in risk assets has seen the Nikkei 225 and ASX 200 fall beneath nearby support, threatening further losses. Here are the levels to watch in the days ahead.

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NZD/USD Price Outlook: Kiwi-Dollar Eyes RBNZ Decision & PMI Data

NZD/USD price action looks primed for potential volatility during Wednesday's trading session with the upcoming RBNZ decision and scheduled release of global PMI data.

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Nasdaq 100 Forecast: Exodus from Tech ETF Has Worrisome Historical Parallel

Canadian Dollar Price Forecast: USD/CAD Showing Reversal Tendencies

USD/CAD continues to carry hints of reversal potential, but will buyers back the bid to continue a short-term bullish trend?

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South African Rand: Risk-Off Mood Interrupts Recent ZAR Strength

With the global pandemic surging in Europe, the Rand has succumbed to a risk averse environment but will this just be a short-term blip before the ZAR continues its bullish run?

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EUR/USD Price Outlook: Euro Extends Slide to Probe Support Zone

EUR/USD price action remains under pressure after breaching its 50-day moving average, but the Euro now collides with a critical technical support level near the 1.1700-handle.

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EUR/USD, AUD/USD, DXY Charts and Technical Outlook

EUR and AUD look headed lower as USD is poised to continue to strengthen in the days ahead.

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UK to Face Lockdown Rules for as Long as 6 Months, GBP/USD Volatility Persists - US Market Open

Turnaround Tuesday thus far, UK faces lockdown 2.0, GBP volatility persists.

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Market Sentiment Still Negative Towards EUR/USD, GBP/USD, AUD/USD | Webinar

Trader confidence remains poor in riskier assets like stocks, the Australian Dollar and Sterling, while even gold, silver and the Japanese Yen are dropping as the US Dollar attracts most haven buying.

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RBNZ Monetary Policy Decision: What to Watch Out For

RBNZ expected to maintain policy, while commentary on NZD will be particularly important.

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British Pound (GBP) Latest: GBP/USD at Risk of Sharp Fall if Support Breaks

GBP/USD is close to an important support level. If it breaks, the pair will hit a two-month low and further falls would be likely as a second coronavirus lockdown looms in the UK.

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EU Stoxx 50 Index at Risk as COVID-19 Second Wave Fuels Volatility

Europe’s benchmark EU Stoxx 50 index is at risk of extending its slide lower as Covid-19 ‘second wave’ fears trigger a surge in volatility.

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Monday, 21 September 2020

Crude Oil Prices Weighed by Demand Concerns, Rising US Dollar

Risk-off sentiment and a stronger US Dollar hit crude oil prices hard, as resurging coronavirus cases in Europe and potential lockdowns weighed on the energy demand outlook.

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US Dollar Struggles as S&P 500 Diverges With Emerging Market Capital

The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change?

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Gold and Silver Vulnerable on Stagnating Stimulus Talks, USD Resurgence

Dow Jones Supported by 100-Day SMA, Strong US Dollar Sinks XAG/USD

Stock markets fell sharply as resurging Covid-19 cases in Europe soured risk appetite. Safe-haven demand drove up the US Dollar, which catalysed an 8% decline of silver prices.

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USD, GBP, EUR Volatility Ahead of Cross-Continental Geopolitical Risks

The US Dollar, British Pound and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit).

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USD/CAD Rate Tests Former-Support Zone for Resistance

USD/CAD has come up against the former-support zone around the March/June low (1.3315) as the decline in global equity prices coincides with the advance in the US Dollar.

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S&P 500 Teeters on Precipice as Trump Trails Biden in Swing States

The S&P 500 index may be on the verge of breaking down as Biden continues to lead Trump in swing states but faces a narrower margin in general election polls.

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AUD/USD Price Outlook: Aussie Defends 0.7200 Level as VIX Jumps

The Australian Dollar took a nosedive during Monday’s trading session due to a flareup in market volatility, but AUD/USD price action based around the 0.7200-price level as the VIX ‘fear-gauge’ sta...

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Nikkei 225 & ASX 200 Price Forecast: Stock Selloff Sees Support Broken

Dollar vs Mexican Peso Outlook: USD/MXN Rally Eyes Trend Resistance

Mexican Peso is under pressure this week with a recovery in USD/MXN taking price into downtrend resistance. Here are the levels that matter on technical charts.

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Gold Price Breaks Lower as Risk Aversion Spikes and Volatility Soars

Gold suffered a bearish breakdown to start the week as risk aversion spiked across global markets. Typically viewed as a safe haven commodity, gold seems to have been caught in the crossfire.

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USD Price Outlook: US Dollar Ripping Higher as Markets Swoon

The US Dollar is advancing sharply as markets accelerate lower on the back of mounting risk aversion. Can USD price action continue its ascent or will the DXY Index recoil lower?

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Dow, Nasdaq Price Forecast: US Stocks September Slide Continues

Both the Dow and Nasdaq have shown different tonalities since the September open, with reversal tendencies showing after the blistering rallies that took hold through the summer.

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Markets Week Ahead: S&P 500, US Dollar, Yen, NZD, RBNZ, Powell Testifies

The S&P 500 has been wobbling but the haven-linked US Dollar has been struggling to catch a bid. The anti-risk Japanese Yen is shining instead. Has the Fed left investors wanting more? Ahead, NZD e...

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FTSE 100 Hit Hard as Fears of a New COVID-19 Lockdown Grow

The UK’s two top scientific advisors will address the nation today at 11:00 BST and warn that tougher lockdown measures may be on the way if the public doesn’t follow government guidelines.

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GBP/USD To Extend Slide on No-Deal Brexit Fears, Covid-19 Second Wave

GBP/USD rates look poised to break lower amid escalating ‘no-deal’ Brexit concerns and rising coronavirus case numbers.

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Sunday, 20 September 2020

Gold Price Rebound from 50-Day SMA Intact Ahead of Fed Testimony

Fresh remarks from Fed Chairman Jerome Powell may keep the price of gold afloat as the central bank relies on its emergency tools to support the US economy.

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USD, GBP, EUR Volatility Ahead of Cross-Continental Geopolitical Risks

NZD/USD Outlook Hinges on RBNZ as Tilt in Retail Sentiment Persists

The bullish price action in NZD/USD may continue to coincide with the tilt in retail sentiment as the RBNZ appears to be on track to retain the current policy.

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Nasdaq 100 to Test 100-Day SMA, Hang Seng and ASX 200 May Open Flat

The Nasdaq 100 futures are oscillating in early Asia hours after falling 1.07% on Friday, setting a mixed tone for Asia-Pacific open. Japan’s market closed for a two-day holiday.

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EUR/USD Breaking Down, TikTok Ban Averted. Biden Leads Trump in Polls

EUR/USD selloff may accelerate as the pair break key support. TikTok ban was averted but Sino-US tech tension lingers as the Biden-Trump spreads widens.

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Markets Week Ahead: S&P 500, US Dollar, Yen, NZD, RBNZ, Powell Testifies

US Dollar Outlook Bearish on Mnuchin & Powell Testimonies, Key US Data

The US Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak.

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Saturday, 19 September 2020

Crude Oil Prices Vulnerable Amid Fading Demand, Oversupply Concerns

Crude oil prices could reverse lower as the OPEC Monthly Oil Market Report (MOMR) forecasts fading global demand and oversupply concerns.

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Euro Forecast: EUR/USD Outlook Turns More Bearish After Failure at 1.20

The outlook for the EUR/USD pair has worsened after its failure to move back to the high just above 1.20 touched on September 1 despite the ECB’s decision earlier this month not to talk down the Euro.

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Japanese Yen Exhibits Bullish Behavior as BoJ Braces for Negative CPI

The Japanese Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy.

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Nasdaq 100, DAX 30 & FTSE 100 Forecasts for the Week Ahead

Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty.

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Friday, 18 September 2020

New Zealand Dollar Outlook: NZD/USD May Rise on RBNZ, Watch S&P 500

The growth-linked New Zealand Dollar may rise on the upcoming RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset NZD/USD gains.

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Copper Price Forecast: Bulls Push Price to New Multi-Year High

Copper rose to a fresh multi-year high as Chinese demand and supply-side issues continue to support price action amid a lackluster US Dollar

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Dow Jones Tries to Turn Green on Upbeat Consumer Sentiment Data

The Dow Jones has edged higher off session lows as stocks attempt to claw back recent downside after the release of consumer sentiment data, which improved and topped market expectations.

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Central Bank Watch: BOC, RBA, & RBNZ Rate Expectations; USD/CAD, AUD/USD, & NZD/USD Positioning Update

The RBNZ may distinguish itself from the BOC and RBA in the first half of 2021.

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South African Rand: ZAR Strengthens as SARB Signals End to Rate Cuts

USD/ZAR lower after the South African Reserve Bank (SARB) keeps the Repo Rate on hold. Implied policy path indicates no further rate cuts this year�

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Japanese Yen Outlook: Beware of Currency Intervention Levels

Japanese Yen goes from strength to strength against the US Dollar, while CHF/JPY reversal is underway.

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British Pound (GBP) Latest: Brexit Trade Talk, New Lockdowns and UK Retail Sales Data

The mood music in EU/UK trade talks may be shifting after EC President Ursula von der Leyen said that she was ‘convinced’ that a deal was still possible.

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Thursday, 17 September 2020

USD/CAD Capped by Key Resistance Ahead of Canada Retail Sales Data

The USD/CAD exchange rate may extend its slide from the monthly high ahead of Canadian retail sales data, as the Bank of Canada’s wait-and-see approach underpins CAD.

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Dow Jones Futures Fluctuate, DAX 30 and ASX 200 In Tight Range

The Dow Jones Industrial Average futures are oscillating in early Asia hours after falling 0.47% on Thursday. Global equity indices look set to consolidate amid US fiscal stimulus uncertainty.

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Gold Price Continues to Rebound from 50-Day SMA Following FOMC

The price of gold tagged the 50-Day SMA ($1935) for the second time this month, but current market trends may keep bullion afloat amid crowding behavior in the US Dollar.

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EUR/USD Selloff Ahead? Biden-Trump Spread Narrows

EUR/USD has broken two uptrends, potentially setting the pair up for a reversal as Biden’s lead over Trump narrows below the roughly 7-point average.

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AUD/USD & ASX 200 Forecast: Is the Australian Dollar Hurting the ASX?

The Australian Dollar has climbed higher in recent weeks despite weakness in other risk-sensitive markets. Conversely, the ASX 200 has struggled to keep pace with its currency-counterpart.

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Central Bank Watch: BOC, RBA, & RBNZ Rate Expectations; USD/CAD, AUD/USD, & NZD/USD Positioning Update

The RBNZ may distinguish itself from the BOC and RBA in the first half of 2021.

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Crude Oil Price Climbs to Test 50-DMA in Wake of OPEC+ Update

Crude oil price action advances for the third day straight, extending weekly gains to nearly 10% amid an expected OPEC+ update, but the commodity faces resistance posed by a key moving average.

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Gold Price Forecast: What Will Spark a XAU/USD Break Out Rally?

The outlook for gold prices remains constructive as central banks double-down on low interest rates. Gold may benefit as a result but technical patterns have kept the precious metal contained.

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DailyFX Education Summit: Trade Your Market

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Gold, Dollar & Nasdaq React to FOMC Decision, Fresh Projections

The September 2020 FOMC press statement just crossed the wires and shows that the Fed decided to leave rates on hold as expected, but updated economic projections are weighing on markets.

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Silver Price Forecast: Silver Sideways as Price Action Seeks Direction

Silver Sideways as Price Action Struggles to Find Direction following FOMC Meeting Minutes.

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Bank of England Exploring Negative Rates, GBP/USD Whacked

Bank of England fuels expectations of negative rates as they explore plans with PRA.

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Bank of England Rate Decision Preview - What Matters

The Bank of England is expected to maintain its current monetary policy with the bank rate at 0.1% and APF at GBP 745bln.

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USD/JPY Price Eyes Multi-Month Low, Bearish Client Sentiment Grows

The latest monetary policy decisions from the Bank of Japan and the Federal Reserve have failed to stem this week’s sharp sell-off in USD/JPY and a fresh multi-month low nears.

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British Pound (GBP) Latest: Bank of England to Set Path for GBP/USD, EUR/GBP

GBP will take its cue from Thursday’s monetary policy announcement by the Bank of England, which will keep UK interest rates unchanged but could hint at more stimulus.

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S&P 500 Index Faces Larger Pullback as FOMC Retains Fed Fund Forecast

The S&P 500 index faces a larger pullback as the FOMC retains its assessment of the “longer-run” neutral Fed Funds rate.

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Wednesday, 16 September 2020

EUR/USD Susceptible to Larger Correction as RSI Retains Downward Trend

The RSI indicates a larger correction for EUR/USD as the oscillator reverses ahead of trendline resistance to retain the downward trend carried over from the end of July.

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Australian Dollar Blossoms on Strong Local Jobs Data, Better Times Ahead?

The Australian Dollar jumped after local jobs data showed a better-than-expected print, though AUD/USD gains may be curbed by tension with China.

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Nasdaq 100 Falls Post-Fed Meeting, Hang Seng and Nikkei Eye BOJ, BoE

The Nasdaq 100 index fell 1.25% despite that the Fed signalling no rate hikes through to 2023. Asia-Pacific equities look set to open mixed ahead of BOJ and BoE rate decisions.

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NZD/USD Rate Outlook Unfazed by 12.4% Decline in New Zealand GDP

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Crude Oil to Rise? Biden-Trump Spread Widens, WTO Issues US Tariff Ruling

Crude oil prices rose despite a key ruling by the WTO that may complicate future US-China trade relations under another four years of President DonaldTrump.

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Dow Jones Forecast: Upbeat FOMC Projections Might Broaden Stock Rally

Raised economic projections from the Federal Open Market Committee may allow the US stock market rally to extend into other areas outside of technology. As a result, the Dow Jones might benefit.

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USD Price Outlook: US Dollar & VIX Advance Following the Fed

US Dollar aims higher with the VIX ‘fear-gauge’ in the wake of Fed Chair Powell and FOMC officials staying sidelined on monetary policy decisions as the central bank monitors a fragile economic bac...

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Gold, Dollar & Nasdaq React to FOMC Decision, Fresh Projections

US Dollar Price Forecast: USD Descending Triangle for FOMC

The US Dollar has built into a descending triangle ahead of today's FOMC rate decision - will USD bears get another run at the lows?

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South African Rand Forecast: USD/ZAR, GBP/ZAR, EUR/ZAR Setups

South African Rand strengthens testing key Fibonacci levels

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Gold Price Latest - Clinging on toTrend Support as FOMC Looms Into View

The price of gold continues to nudge higher and holds onto a strong multi-month trend support line. Fed chair Jerome Powell’s commentary, post-FOMC decision, will guide the next move in the preciou...

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US Dollar Drifting Lower, What to Watch Out for FOMC Meeting

Market participants appear to be gearing for a dovish FOMC as the US Dollar is pushed lower.

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British Pound (GBP) Latest: GBP/USD Shrugs off Inflation Data, Steady Pre Fed

GBP/USD held steady in early European trading Wednesday despite a sharp fall in UK inflation. Its next move will depend on the outcome of the Federal Reserve and BoE policy meetings.

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USD/JPY Poised to Extend Slide as FOMC Rate Decision Shifts Into View

The USD/JPY exchange rate seems poised to extend its 8-day decline from the monthly high as the FOMC interest rate decision shifts into focus.

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Tuesday, 15 September 2020

US Dollar Fundamental Outlook: USD/SGD, USD/IDR, USD/PHP, USD/MYR

The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia.

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AUD/USD Rate Forecast: 2020 High on Radar Following RBA Minutes

AUD/USD may continue to retrace the decline from the 2020 high (0.7414) as the RBA Minutes suggest the central bank will rely on its current tools to support the recovery.

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New Zealand Dollar Time Cycle: NZD/USD, NZD/JPY, NZD/CHF Key Levels

The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn.

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USD/CAD Outlook Hinges on Fed Summary of Economic Projections (SEP)

The Federal Reserve interest rate decision may sway USD/CAD as the central bank is scheduled to release the updated Summary of Economic Projections (SEP).

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Gold Prices Ripe for Breakout? Election Polls Show Diverging Trend

Gold prices may be nearing the end of a congestive interim and are ready to break out as 2020 presidential election data shows a diverging trend.

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Fed Meeting Preview: US Dollar Hinges on Guidance from Powell

US Dollar sits in the hot seat headed into the September FOMC rate decision scheduled to cross market wires this Wednesday. The Fed is expected to provide updated economic projections, which Chair ...

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DAX 30, FTSE 100, CAC 40 Forecasts for the Week Ahead

European equity indices will look to keep pace with the Nasdaq 100 this week as tech rebounds and drives risk appetite. Lacking significant tech exposure, the DAX 30, FTSE 100 and CAC 40 may lag.

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AUD/USD Price Outlook: Aussie Ascends on China Data, FOMC Eyed

The Aussie-Dollar is trading on its front foot so far with spot AUD/USD higher by about 0.2% intraday thanks to rosy economic data out of China, but the FOMC decision on deck looms large.

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Dow Jones Price Forecast: Big Support Holds Ahead of FOMC

US equities were tapped-lower to start September, but tomorrow brings the Fed. Will the FOMC prod equities higher?

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Market Sentiment May Rally Further as FOMO Trades Boost Prices | Webinar

Traders are reasonably confident heading into this week’s three major central bank meetings, and fear of missing out may boost ‘risk-on’ prices further in the days ahead.

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Silver Forecast: Silver Confined to key Fibonacci Levels

A weaker Dollar brings Silver to a key Fibonacci level

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Japanese Yen Outlook: USD/JPY, EUR/JPY Key Levels to Watch

Downside risks growing for USD/JPY, while EUR/JPY holds range ahead of FOMC.

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EUR/USD Remains Underpinned as German ZEW Sentiment Improves in September

The latest ZEW sentiment data beat market expectations and helped the Euro push marginally higher against the US dollar. Wednesday’s FOMC meeting will drive the next move.

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British Pound (GBP) Latest: GBP/USD, EUR/GBP Stabilizing, Focus on Brexit

Sterling is steadying after its recent weakness, with Brexit, the Bank of England and UK economic data likely to dominate trading for the rest of this week.

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DAX 30 Index At Risk Of Reversal as German Bunds Eye Monthly High

Germany’s DAX 30 Index is at risk of reversing lower as German 10-year Bunds eye a push to fresh monthly highs.

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Monday, 14 September 2020

EUR/USD Rate Eyes 2020 High as RSI Threatens Downward Trend

EUR/USD may continue to retrace the decline from the 2020 high (1.2011) as the RSI threatens the downward trend carried over from the end of July.

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Australian Dollar Gains as China Data Assures Wait-and-See RBA Policy

The Australian Dollar surged back above the 0.73 level as Chinese industrial production and retail sales data exceeded expectations.

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Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

The Nasdaq 100 index rebounded a second day on vaccine hopes and Oracle’s potential bid for TikTok’s US business. Asia-Pacific stocks look set to open mixed. China data are in focus.

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NZD/USD Outlook: Tilt in Retail Sentiment Persists Ahead of FOMC

The crowding behavior in NZD/USD persist ahead of the Fed rate decision even though the central bank prepares to release the updated Summary of Economic Projections (SEP).

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SPX Analysis: Oracle Wins TikTok Bid, Biden Maintains Lead in Polls

The S&P 500 is trading at key resistance as Oracle wins the bid to acquire TikTok. Election polls show Biden maintaining a strong lead over Trump.

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Pound Sterling Searches for Support as Brexit Bill Roils GBP

GBP price action comes back under pressure as the Brexit Withdrawal Agreement now hangs in jeopardy with UK politicians agreeing to move forward with the highly scrutinized Internal Market Bill.

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US Dollar Outlook: USD Price Action Focused on Fed Meeting

FX traders align their crosshairs with USD price action as market participants gear up for the Fed meeting scheduled this week. How might the Federal Reserve decision impact US Dollar outlook?

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GBP/USD Price Forecast: Retail Traders Confident Worst has Passed

Brexit uncertainty has pushed the British Pound lower in September and IG client sentiment data reveals retail traders are confident the worst has passed. What does this mean for GBP/USD?

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DAX 30, FTSE 100, CAC 40 Forecasts for the Week Ahead

Gold Price Eyes Bullish Breakout as USD Drops Ahead of FOMC

Gold price action is advancing as the US Dollar and Treasury Yields decline headed into the September Fed meeting. Will the FOMC reinvigorate precious metal bulls and help gold breakout higher?

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DailyFX Education Summit: Trade Your Market

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GBP/USD, EUR/GBP and FTSE 100 Prices and Outlooks - UK Weekly Webinar

Three of the most important central banks release their latest monetary policy decisions this week and commentary around these announcements will be closely parsed.

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Markets Week Ahead: S&P 500, British Pound, Brexit Woes, US Dollar, Fed

US equities, such as the S&P 500 and Nasdaq 100, finished their worst 2 weeks in months as the US Dollar gained. No-deal Brexit woes are coming back to haunt the British Pound ahead of the BoE. Wil...

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South African Rand: USD/ZAR Stable Ahead of SARB Rate Decision

The South African Rand may be in for additional gains against the US Dollar as fundamental facilitators could incite possible bearish technical indicators into fruition.

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British Pound (GBP) Latest - Brexit, BoE and Heavyweight Data All Collide This Week

A very busy week for Sterling traders with a wide range of high importance data and risk events ahead. GBP opens the week steady but for how long?

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Nasdaq 100, S&P 500 Index May Rise Ahead of FOMC Rate Decision

The Nasdaq 100 and S&P 500 index look poised to climb higher ahead of the upcoming Federal Reserve interest rate decision on September 16.

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Sunday, 13 September 2020

Gold Price Vulnerable Ahead of FOMC amid Shift in US Dollar Sentiment

The price of gold may consolidate over the remainder of the month as the crowding behavior in the US Dollar appears to unwinding ahead of the Fed rate decision.

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GBP Eyes Brexit Impasse, Nasdaq May Pull Back on US-China Tech Tension

The British Pound continues to be at the mercy of political volatility from Brexit as the technology sector prepares for additional tension between the US and China.

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US Dollar Fundamental Outlook: USD/SGD, USD/IDR, USD/PHP, USD/MYR

AUD/USD Rate Rebound Stalls Ahead of RBA Minutes with FOMC on Tap

The Reserve Bank of Australia (RBA) Minutes may influence AUD/USD as Governor Philip Lowe and Co. “consider how further monetary measures could support the recovery.”

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British Pound Outlook: GBP/USD, GBP/JPY and EUR/GBP Levels to Watch

The British Pound may extend its fall ahead of the upcoming Bank of England rate decision. GBP/USD and GBP/JPY eyeing a retest of the July lows.

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Dow Jones Futures Climb With Nikkei 225 and Hang Seng, LDP Election in Focus

Dow Jones Industrial Average index futures are extending Friday’s gains alongside Asia-Pacific stocks. Japan’s LDP election will decide who will replace Shinzo Abe as the Prime Minister.

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EUR/USD at Pivotal Juncture, Biden-Trump Spread Narrows

EUR/USD is trading at critical chart support as Biden’s lead over Trump narrows amid growing US-China tension over hot-button technology disputes.

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Markets Week Ahead: S&P 500, British Pound, Brexit Woes, US Dollar, Fed

Nasdaq 100 Price Forecast: Fundamental Elements Remain Upbeat

The Nasdaq 100 index has retraced over 9% from its all-time high as profit-taking activities ramped up amid US-China tensions. Fundamental elements, however, tell a different story.

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USD/MXN Week Ahead: FOMC Tailwinds Could Lead to Volatile Trading

The Mexican Peso continues to outshine the Dollar, but USD/MXN is still 14% higher than the beginning of the year

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Saturday, 12 September 2020

Euro Forecast: EUR/USD Set Fair to Reach Highest Levels Since Spring 2018

If ECB President Christine Lagarde was hoping to curb the strength of EUR/USD last week, she failed. Instead, the pair is now well placed to reach new two-year highs above 1.20.

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Gold Price Outlook: FOMC Rate Decision May Ignite XAU/USD Uptrend

Gold prices may turn higher ahead of the upcoming FOMC rate decision, despite plateauing inflation expectations and a lack of progress in Congressional stimulus talks.

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US Dollar Weekly Forecast: ECB Avoiding a Currency War, Eyes on Fed's New Mandate

All eyes on the Fed as they update guidance to fit their new mandate. While the ECB want to avoid a currency war.

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Friday, 11 September 2020

Oil Price Approaches June Low Ahead of OPEC JMMC Meeting

The price of oil approaches the June low ($34.27) ahead of the OPEC’s September meeting as US crude inventories unexpectedly increase for the first time since July.

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Australian Dollar May Fall on Jobs Data, Economic Plateauing, China Tension

The Australian Dollar may pull back as domestic economic activity and local inflation prospects plateau as geopolitical tension with China heats up.

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US Equities Forecast: Nasdaq 100, S&P 500, Dow Jones Price Setups

After US equities suffer their second week of losses, price action consolidates around key Fibonacci levels

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DailyFX Education Summit: Trade Your Market

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South African Rand: USD/ZAR, GBP/ZAR and EUR/ZAR Price Forecasts

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EUR/USD Price Outlook - A Fresh 30-Month High May Prove Difficult

The European Central Bank will carefully monitor the exchange rate but suggested yesterday that they will look through any short-term appreciation of the single currency despite its negative effect...

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British Pound Latest (GBP) - EU Gives UK Brexit Ultimatum

GBP/USD plunges, while EUR/GBP benefits from the best of both worlds.

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US Dollar Outlook: DXY May Extend Losses Ahead of FOMC Rate Decision

The US Dollar Index (DXY) is at risk of sliding lower ahead of the Federal Reserve interest rate decision on September 16.

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Thursday, 10 September 2020

EUR/USD Analysis: Wait-and-See ECB Guidance Keeps August Range Intact

EUR/USD may continue to track the August range following the ECB meeting even though the RSI retains the downward trend carried over from the end of July.

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Dow Jones May Lead Hang Seng, Nikkei 225 lower Post ECB Disappointment

The Dow Jones Industrial Average fell 1.45% as optimism faded quickly following ECB’s neutral tone. Sour sentiment may lead the Hang Seng and Nikkei 225 index lower today.

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Silver Coils Up for Breakout as Biden Builds Lead vs Trump, Relief Bill Stalls

Silver prices may be coiling up for a breakout as the Biden-Trump spread widens while Congress fails again to agree on the framework for another coronavirus relief bill.

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GBP/USD Slammed by Brexit Drama, Dollar-Yen Eyes Inflation Data

The US Dollar endured a turbulent trading session on Thursday as volatility accelerated on the back of renewed risk aversion, which caused major FX pairs like EUR/USD, GBP/USD, and USD/JPY to whipsaw.

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Canadian Dollar Forecast: Can USD/CAD Mount a Bullish Continuation?

After just recently falling to a 7-month low USD/CAD staged a brief break higher, moving above a key trendline as crude oil price declines undermined the Canadian Dollar. Where is USD/CAD headed?

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Crude Oil Price Outlook Mired by Moving Average Death Cross

Crude oil prices might remain under pressure with the commodity now facing a bearish crossover of its 50-day and 200-day moving averages after invalidating its prior-standing bullish trendline.

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EURUSD Forecast: EUR/USD Jumps as ECB Appears Unphased by Strong Euro

The ECB doesn't appear overly concerned about Euro strength - but will EUR/USD bulls be able to break through the 1.2000 figure?

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EUR/GBP Price Forecast: Euro Soars Amid Emergency Brexit Talks

The Euro extended the current bullish move vs the Pound after the ECB maintains current monetary policy measures. FX rate and its effect on inflation to be monitored

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ECB Leaves Rates Unchanged, EURUSD Moves Sideways Ahead of the Press Conference

The Euro was little changed after the ECB left all policy levers untouched. Next up, President Lagarde’s thoughts and the staff projections.

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Silver Price Forecast: Potential Breakout Looming for Spot Silver

Silver seeks a fundamental catalyst to encourage a symmetrical triangle price breakout

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Crude Oil Outlook Downbeat, Demand Concerns May Prompt OPEC Action

Outlook growing increasingly weak for oil prices as demand stalls. OPEC action will be in focus at JMMC.

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British Pound (GBP) Latest: Emergency Brexit Talks in Focus, GBP/USD Stabilizes

GBP/USD is holding its ground around the 1.30 level ahead of emergency Brexit talks to discuss a UK plan to amend its divorce treaty with the EU, potentially breaking international law.

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DAX 30 Index Could Slide Lower as ECB Rate Decision Shifts Into Focus

Germany’s benchmark DAX 30 index could slide lower if the European Central Bank maintains the status quo at its upcoming September meeting.

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Wednesday, 9 September 2020

AUD/USD Flips Ahead of 50-Day SMA Despite Break of Trendline Support

AUD/USD appears to be reversing course ahead of the 50-Day SMA (0.7149) as it quickly bounces back from a fresh monthly low (0.7192).

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JPY, USD May Rise on Risky Credit Markets as CLO ETF Debuts

The US Dollar and Japanese Yen may rise if fear about the precarious nature of risky credit instruments permeates market mood as the first CLO ETF debuts.

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US-China Tensions to Amplify Recent AUD/USD, S&P 500, Oil Volatility?

Volatility in the Australian Dollar, S&P 500 and crude oil prices has been on the rise as of late. Could a revival in US-China trade tensions amplify these movements?

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S&P 500 May Lead ASX 200 Higher, Gold Rebounds as US Dollar Falls

The S&P 500 surged as tech firms regained strength, which might lead Asia-Pacific stocks higher. Gold prices climbed as the US Dollar fell alongside the volatility (VIX) index.

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Australian Dollar Outlook Unfazed by Extended COVID-19 Restrictions

The Australian Dollar may rise despite the extension of economically-devastating Covid-19 restrictions in Victoria, Australia’s second most populous state.

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USD/CAD Rebound Stalls as BoC Sticks to Current Policy Tools

The recent rebound in USD/CAD appears to have stalled ahead of the March/June low (1.3315) as the Bank of Canada (BoC) sticks to the sidelines at the September meeting.

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EUR/USD to Reverse? Trump Call for US-China Decoupling Boosts Election Risks

EUR/USD may be on the verge of a major trend reversal as markets digest President Trump’s comments about US decoupling from China ahead of the presidential election.

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US Dollar Outlook: EUR/USD Eyes ECB Meeting as AUD/USD Recoils

The US Dollar surrenders recent gains against key FX peers like the Euro and Australian Dollar as EUR/USD traders look toward an upcoming ECB rate decision while AUD/USD rebounds with market sentim...

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Nasdaq 100 Price Forecast: Is the Technology Rout Over?

Three days of weakness in the technology sector has seen the Nasdaq 100 forfeit considerable ground and fall through nearby support. As demand returns, has the worst of the rout passed?

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Canadian Dollar Price Forecast: USDCAD Pulls Back to Support post-BoC

This morning's Bank of Canada rate decision prodded the Canadian Dollar and USD/CAD has sunk down to a key zone of support for a crucial test.

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Kiwi Dollar Forecast: NZD/USD Showing Potential Signs of Exhaustion

NZD/USD has reversed off of a key weekly level amid recent USD strength and continued speculation of unconventional monetary policy tools available to the RBNZ

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USD/CAD Gyrates on BoC Rate Decision

The Canadian Dollar gyrated as the Bank of Canada held its benchmark rate at 0.25% as the central bank continues its supportive stance following the COVID pandemic.

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USD/ZAR Outlook: ZAR Remains Resilient Despite Dismal Economic Data

USD/ZAR Remains below key psychological level despite dismal GDP figures

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EUR/USD Nears a Fresh One-Month Low But Trade Remains Thin Ahead of ECB Meeting

The Euro (EUR) continues to press lower against the US dollar as traders wait for the latest ECB policy meeting and press conference.

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Crude Oil Prices Down to 3-Month Low on Fed Policy, Seasonal Turn

Crude oil prices have dropped to the lowest level in three months after the Fed adopted a more hands-off policy stance just as markets transitioned out of the ‘summer lull’.

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Canadian Dollar Forecast: USD/CAD, CAD/JPY Levels to Watch on BoC

Bank of Canada to maintain current stance. USD/CAD forms double bottom, CAD/JPY drops to key support.

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British Pound (GBP) Latest: Brexit Row May Weaken GBP/USD Further

Although GBP/USD has already dropped below 1.30, the rising chances of the UK failing to reach a post-Brexit trade deal with the EU could lead to further losses.

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CAD/JPY Rates to Recoup Losses on Wait-and-See Bank of Canada

CAD/JPY rates could claw back lost ground as the Bank of Canada is expected to keep its monetary policy settings steady amid positive fundamental data.

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Tuesday, 8 September 2020

Gold Price Touches 50-Day SMA for First Time Since June

The price of gold has touched the 50-Day SMA ($1912) for the first time since June as it trades within the August range.

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Nasdaq 100 Lost 10% in 3 Days, Hang Seng and FTSE 100 May Fall

The Nasdaq 100 index tumbled 4% on Tuesday, stretching a three-day loss to over 10%. Futures markets are pointing lower as Asia-Pacific stocks start trading on Wednesday.

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Bitcoin Price Outlook: Will Support At $10,000 Stifle BTC/USD Sellers?

Bitcoin’s 26% retreat from its yearly high posted in August may prove to be a mere short-term pullback if pivotal chart support at the $10,000 mark remains intact.

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USD/CAD Rate Rebound Brings March/June Low on Radar

USD/CAD appears to be on track to test the March/June low (1.3315) for resistance as it breaks out of the range bound price action following Canada’s Employment report.

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AUD/USD at a Critical Juncture as Biden-Trump Spread Widens

AUD/USD is trading at what could be a trend-defining chart support as the US Dollar stages a comeback in tandem with a widening Biden-Trump spread.

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Dow Jones Forecast: Industrial Average Succumbs to Selling Pressures

The Dow Jones extended lower to start the week as US equities post their largest 3-day decline since March. Can technical support keep the Dow Jones afloat or will tech weakness reign supreme?

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Gold Price Forecast: XAU Bounces From Support, Gold Bulls on Return?

While Gold started August with strength, it finished with a whimper, and that's continued through the opening week of September trade.

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Dollar vs Mexican Peso Outlook: USD/MXN Ranges at Fibonacci Support

Mexican Peso has carved a well-defined range just below the September open. Here are the levels that matter on USD/MXN technical charts in the days ahead.

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Crude Oil Price Forecast: Crude Falters Alongside Tech as Selloff Broadens

Crude oil suffered a significant break down to start the week, falling to its lowest level since mid-June as a result. With risk appetite on the backfoot, will crude fall further now that support h...

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Euro Dollar Outlook: EUR/USD Indecisive as Political Pressure Looms

After four months of gains for the EUR/USD, price action has stalled around the psychological level of 1.1800

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Confidence in GBP/USD Ebbs, Gold and US Stocks Suffering Too | Webinar

Trader confidence in GBP/USD is ebbing away as the UK and EU squabble over Brexit. Meanwhile, market sentiment is also souring towards gold and US tech stocks, boosting USD.

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USD/ZAR Latest: Rand Falls on Dismal South African GDP Figures

After a 51% QoQ economic contraction, will USD/ZAR continue its bearish trajectory or will this be the catalyst for a shift in momentum?

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Japanese PM Frontrunner Signals Snap Election, USD/JPY Maintains Range

Japanese PM Frontrunner Signals Snap Election While Pledging Continuation of Abenomics

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Gold (XAUUSD) Price - Pressure on Supportive Trendline Increases as Trading Range Narrows

The price of gold remains stuck either side of $1,930/oz and is pressuring the multi-month supportive trend. Client sentiment is mixed despite retail traders being heavily long.

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British Pound (GBP) Latest: Further Losses Probable, No-Deal Brexit Comes Closer

The EU and the UK remain far apart on their post-Brexit relationship and, as the UK begins to prepare for no deal, GBP/USD and the GBP crosses look like falling further.

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Nasdaq, Dow Jones Could Extend Slide Amid Simmering US-China Tensions

The Nasdaq 100 and Dow Jones Industrial Average may extend declines as President Donald Trump suggests that the US economy could “decouple” from China.

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US Dollar Fundamental Forecast: USD/SGD, USD/IDR, USD/PHP, USD/MYR

The US Dollar may rise against the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit if stock volatility picks up pace, fueling emerging market capital flight.

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Monday, 7 September 2020

EUR/USD Rate Outlook Hinges on ECB Interest Rate Decision

The European Central Bank (ECB) interest rate decision on September 10 may influence EUR/USD if the Governing Council tames speculation for additional monetary support.

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DAX 30 May Lead Nikkei 225 and S&P 500 Higher, EU GDP Data in Focus

Germany’s DAX 30 stock index rebounded sharply ahead of the release of Eurozone 3Q GDP figures. The S&P 500 and Nikkei 225 index look set to rise.

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NZD/USD Rate Remains Under Pressure as RBNZ Prepares Stimulus Package

Recent remarks from the RBNZ appear to be dragging on NZD/USD as the central bank is “actively preparing a package of additional monetary policy tools.”

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Japanese Yen Outlook: Bank of Japan Policy to Push JPY Lower?

The Japanese Yen is at risk of extended declines as Prime Minister Shinzo Abe’s potential successor vows to maintain the current monetary policy framework.

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Markets Week Ahead: Nasdaq 100, S&P 500, US Dollar, Volatility, ECB, BoC

The VIX 'fear gauge' soared as the Dow Jones, S&P 500 and Nasdaq 100 wobbled. The haven-linked US Dollar climbed. September is historically a volatile month, will this trend in financial markets co...

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EUR/USD Latest: ECB Moral Suasion May Affect Lingering Euro

Can Euro strength be sustained with the ECB keeping a close eye on the currency?

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EUR/GBP Update: Brexit Stalemate, EU and UK GDP Data This Week

The Pound Sterling extends losses on Monday after Boris Johnson suggested The UK and EU move on if no agreement is reached by October the 15th. EU and UK GDP in Focus

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Crude Oil Prices Still Vulnerable After Biggest Drop in 2 Months

Crude oil prices look vulnerable to deeper losses after suffering the biggest drop in two months following US jobs data that may have stoked “stagflation” worries.

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British Pound (GBP) Latest: Sterling Under Threat as No-Deal Brexit Risks Increase

The latest round of EU/UK trade talks start this week with both sides ramping up the rhetoric to potentially dangerous levels. Sterling remains very much at risk.

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EU Stoxx 50 Index May Slide Lower Ahead of ECB Monetary Policy Meeting

Europe’s EU Stoxx 50 index is at risk of sliding lower ahead of the European Central Bank’s upcoming monetary policy meeting on September 10.

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Sunday, 6 September 2020

Gold Price Recoups Post-NFP Losses amid Ongoing Tilt in USD Sentiment

Current market trends may keep the price of gold afloat as the crowding behavior in the US Dollar looks poised to persist ahead of the Fed rate decision on September 16.

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US Dollar Fundamental Forecast: USD/SGD, USD/IDR, USD/PHP, USD/MYR

USD/CAD Rate Trades in Defined Range Ahead BoC Interest Rate Decision

USD/CAD may continue to consolidate ahead of the Bank of Canada (BoC) interest rate decision on September 9 as the RSI bounces back from oversold territory.

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AUD/USD Steady Before China Trade Balance. ASX 200, Hang Seng May Consolidate

The Australian Dollar holds steady at 0.728 ahead of China’s balance of trade. Asia-Pacific’s ASX 200 and Hang Seng Index may open mildly lower as US stock futures fall.

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Copper Prices Poised to Extend Gains Amid Global Manufacturing Rebound

Copper prices may continue to climb higher on the back of USD weakness, rebounding global manufacturing activity and bullish price action setups on multiple timeframes.

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Markets Week Ahead: Nasdaq 100, S&P 500, US Dollar, Volatility, ECB, BoC

Saturday, 5 September 2020

Euro Forecast: Major Resistance Now for EUR/USD at 1.20 as ECB Meets

This Thursday’s meeting of the European Central Bank will likely end with confirmation that the ECB will do everything it can to stop EUR/USD from strengthening above 1.20.

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Sterling (GBP) Remains Under Pressure as EU/UK Trade Talks Stall

The latest EU/UK trade talk commentary suggest that talks are going nowhere with both sides refusing to budge from their original positions.

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Nasdaq 100, DAX 30, CAC 40 & Nikkei 225 Forecasts for the Week Ahead

Equity markets suffered a sharp reversal last week despite encouraging economic data out of the United States. Now, investors will keep a keen eye on the performance of tech stocks for further clues.

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Friday, 4 September 2020

Canadian Dollar Eyes Bank of Canada Rate Decision as Covid-19 Cases Rise

The Canadian Dollar may fall if the Bank of Canada Rate decision inflates selling pressure in tandem with gloomy economic data out of the United States.

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Gold Price Forecast: US Dollar, Treasury Yields Diverge and Drive Trend

Gold prices may trade range-bound as XAU/USD echoes the divergence between Treasury yields and the US Dollar. What could be a downside risk for the yellow metal?

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S&P 500 Price Outlook: Trader Positioning Pivots as VIX Spikes

The S&P 500 continues lower for a second day as retail and options traders shift exposure following a better than expected jobs report

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EUR/USD Price Analysis: NFP data Pushes EURUSD Closer to Key Support

NFP data roughly in-line with expectations at 1.371 million new jobs added in August. Encouraging unemployment data beat estimate of 9.8% coming in at 8.4%. EUR/USD trading lower

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US Dollar Swings on NFP Report Beat, Unemployment Below 9%

The August 2020 NFP report just crossed the wires and topped market estimates, which is bolstering the Dollar as the US economy added 1.3-million jobs and unemployment fell to 8.4%.

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Japanese Yen outlook: Unemployment data may prompt USD/JPY bulls

With NFP data scheduled for later today, could USD/JPY push up toward topside resistance?

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Gold Prices Flirt with Trend Reversal as US Jobs Data Looms Ahead

Gold prices are flirting with a major trend reversal that could upend the rise from March lows as all eyes turn to Augusts’ US jobs report. A soft result may weigh on XAU/USD.

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South African Rand Forecast: USD/ZAR, EUR/ZAR, GBP/ZAR Setups

Big levels in play as Rand flirts with key levels of support

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GBP/USD Drifts Ahead of NFPs, FTSE 100 Breaks Support After US Equity Rout

The monthly US Labor report awaits later today and markets are becoming increasingly nervous after Thursday’s heavy sell-off in the US equity markets.

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USD/CAD Poised to Resume Downtrend Ahead of Non-Farm Payrolls Report

The USD/CAD exchange rate appears poised to resume its 6-month downtrend ahead of the US Non-Farm Payrolls (NFP) report for August.

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Thursday, 3 September 2020

NZD/USD Pulls Back from 2020 High as RBNZ Outlines Future Policy Tools

NZD/USD pulls back from a fresh yearly high (0.6789) as RBNZ Governor Adrian Orr provides an overview of the “additional tools that we are considering.”

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S&P 500 Sinks, Biden Leads Trump, China Releases New Chip Sector Plans

The S&P 500 experienced its biggest one-day slump since June 11 as China announced plans to boost domestic semi-conductor chip production. Biden continues to lead Trump in the polls.

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FTSE 100 Forecast: Technical Break Opens Door For Further Losses

The FTSE 100 suffered a key technical break after risk aversion in US equities spurred losses across the pond. Now, bears might look to extend their attack lower.

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US Dollar Drives Higher Ahead of NFP Report as Volatility Spikes

The US Dollar is advancing as the VIX Index ‘fear-gauge’ turns sharply higher amid the latest resurgence of investor risk aversion, and upcoming nonfarm payrolls could fuel volatility even further.

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Nasdaq 100, Dow Jones, S&P 500 Forecasts: Tech Stocks Falter, Lead Selloff

US equity markets opened to unrest on Thursday as leading members of the technology sector seemed to spark broader market turbulence. As a result, stocks are on pace for their biggest losses in weeks.

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Gold Price Forecast: Gold Slumps to Start September, Support in Sight

Gold came into August with aggressive strength but that soon slowed down. Prices are holding on to support ahead of tomorrow's NFP.

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USD/JPY Price Analysis: Will a Data Heavy End to the Week Spur USD?

USD/JPY has risen off the a medium-term level of support. US data (ISM, initial jobless claims and NFP) has the potential to fuel or halt recent USD gains.

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S&P 500 Price Outlook: Stocks Slumps as Services PMI Declines

Stocks are hitting fresh session lows as services PMI data from the Institute of Supply Management crosses the wires, which shows the largest segment of the US economy decelerating last month.

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US Dollar Price Outlook - Bullish Signal Appears Ahead of High Importance US Data Releases

The recent bounce in the US dollar basket (DXY) has primarily been fueled by Euro weakness and oversold USD positioning. Important US data near that may make or break this move.

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USD/CAD forecast: Loonie bulls eye trendline resistance ahead of NFP

USD/CAD trading around 61.8% Fibonacci support zone before key economic data releases.

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Germany 30 Outlook: DAX Marches on as German PMIs Beat Expectations

After recovering from March lows, the DAX remains bullish but may be entering into oversold territory.

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British Pound (GBP) Latest: GBP/USD Outlook Worsens as Brexit Fears Rise

Confidence in further gains for GBP/USD, and losses for EUR/GBP, is draining away as the EU again criticizes the UK for a lack of progress in the talks on their post-Brexit relationship.

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Euro Price Outlook: EUR/JPY May Fall as ECB Flags Currency Strength

The EUR/USD and EUR/JPY exchange rates may slide lower ahead of the ECB’s September Meeting as Chief Economist Philip Lane flags the currency’s recent appreciation.

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Wednesday, 2 September 2020

AUD/USD Rate Vulnerable Following Short-Lived Overbought RSI Reading

AUD/USD may face a larger pullback over the coming days as the overbought reading in the Relative Strength Index (RSI) appears to have been short lived.

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US Dollar Analysis: EUR/USD, AUD/USD, NZD/USD Outlook

The US Dollar could be encountering key crossing points versus the Euro, Australian and New Zealand Dollars. What are traders looking out for?

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S&P 500 Surges Despite Weaker ADP. Nikkei 225, Hang Seng May Rise

The S&P 500 index jumped 1.54% to a record high of 3,580, despite of a weaker-than-expected ADP job report. Japan’s Nikkei 225 index and Hong Kong’s Hang Seng Index may rise.

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New Zealand Dollar May Extend Climb Amid Easing Covid-19 Restrictions

The New Zealand Dollar may extend its climb higher despite an ultra-dovish RBNZ, as Covid-19 lockdown measures ease in New Zealand’s largest city.

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EUR/USD Outlook: RSI Reverses from Trendline Resistance Ahead of NFP

EUR/USD may face a larger pullback ahead of the US NFP report as the RSI reverses from trendline resistance to preserve the bearish formation established in August.

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AUD/NZD Retests 5-Year Inflection Point. Biden-Trump Spread Widens

AUD/NZD suffered its biggest one-day decline since March and is now retesting a key inflection point. The latest polls show a widening Biden-Trump spread – but there’s a caveat.

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Australian Dollar Price Forecast: AUD/JPY Eyes Bullish Continuation

Continued risk appetite has allowed the Australian Dollar to make headway against the Japanese Yen, staging a bullish break out above horizontal resistance. Here are the levels to watch.

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Gold Outlook: XAU/USD Price Action Probes Big Support Zone

Gold edged lower during Wednesday’s trading session as the US Dollar climbed and weighed negatively on XAU/USD price action, but the precious metal looks supported by a major technical level.

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US Dollar Price Forecast: USD Bounce Runs into ST Resistance

The US Dollar has finally found some element of support. The big question now is whether it can hold into the Friday NFP report.

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Canadian Dollar Price Forecast: USD/CAD Tests Key Fibonacci Support

After eight consecutive weeks of gains, Loonie loses momentum after falling into key Fibonacci support

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DailyFX Education Summit: Trade Your Market

The DailyFX Education Summit will be held online from September 15 to September 17. Register now!

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ZAR Momentum Halted by Resurgent USD, JSE Top 40

The US dollar climbed back above 92.50, which has lifted USD/ZAR while the JSE Top 40 trades higher after yesterday’s bullish move.

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EUR/GBP Price Outlook: Support Broken as Euro Weakness Weighs Further

The ECB is becoming more concerned by a lack of price pressures, undermining the single currency, and sending EUR/GBP to a near three-month low.

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Crude Oil Prices May Not Capitalize on Draining US Inventories

Crude oil price may struggle to capitalize on EIA data showing another drawdown from US inventories last week as soft demand offsets production drop.

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FTSE 100 Bounces Off Support on Sterling Weakness and Risk-on Sentiment but Client Positioning Remains Heavily Crowded

The FTSE 100 has bounced back into its multi-week trading range, aided by a weaker Sterling and a robust bounce back in UK house prices. Bank of England and EU/UK trade commentary later in the sess...

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