Gold Treads Water Ahead of a Cascade of Central Bank Hikes. Where to for XAU/USD?

The gold price rejected a move lower overnight as the US Dollar is poised ahead of today’s all-important Fed rate decision with the attention turning to post-decision press conference.

from DailyFX - Market News https://ift.tt/MElCtU1
via IFTTT

S&P 500 and USDJPY: FOMC Strategy Run Down

It’s finally upon us: the FOMC rate decision. The markets have been waiting for this event, but will it give the clarity of theme and trends that traders have been waiting? We break down the event and the backdrop of key markets represented by the S&P 500, Dollar and USDJPY.

from DailyFX - Market News https://ift.tt/Li3pkqQ
via IFTTT

Euro Forecast: USD Controlling EUR/USD Price Action Dismissive of Positive EZ Data

EUR/USD is under pressure as it preps for tomorrow’s Fed rate decision.

from DailyFX - Market News https://ift.tt/MTzOw7m
via IFTTT

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

USD/JPY is stuck on Fed-Watch but whether its recent gains can be consolidated is a big question

from DailyFX - Market News https://ift.tt/GjRVXx2
via IFTTT

Gold Slides Through Support as US Bond Yields Nudge Higher Ahead of the FOMC

US Treasury yields are inching higher ahead of Wednesday’s FOMC rate decision and this is weighing on the price of gold

from DailyFX - Market News https://ift.tt/0Z2mHu9
via IFTTT

GBP/USD Retreats as the Fed and BoE Hog the Limelight

GBP/USD struggled to hold above the 1.24000 level as the DXY found some buyers ahead of the FOMC meeting. Could the central banks inspire a breakout after 10 days of rangebound trading?

from DailyFX - Market News https://ift.tt/5dSzEcx
via IFTTT

Euro Steadies Ahead of Crucial Fed and ECB Meetings This Week. Higher EUR/USD?

The Euro has backed away from last week’s peak against the US Dollar in anticipation of further tightening from the Federal Reserve tomorrow. Where to for EUR/USD?

from DailyFX - Market News https://ift.tt/AbmI7cl
via IFTTT

S&P 500 and Dollar Volatility – But Unlikely Trend – Before FOMC Wednesday

A week of heavy event risk has started with some tentatively provocative moves from the major corners of the market. The S&P 500 and Nasdaq 100 reversed lower after last week’s extensions suggested bulls were in control. Meanwhile, the Dollar is probing a break from an extremely tight range. The activity can be enticing, but be wary…

from DailyFX - Market News https://ift.tt/fgZTFLC
via IFTTT

Nasdaq 100 Capsizes After Finally Overcoming 200-Day SMA, Beware More Volatility

The markets are closing in on systemically important event risk and traders’ compasses are starting to go haywire. Tentative breakout and trend efforts are falling apart ahead of the Fed decision Wednesday, and few markets are more put out technically than Nasdaq 100.

from DailyFX - Market News https://ift.tt/jTMW6n3
via IFTTT

EUR/USD Tests 1.0900 – ECB Rate Decision, Inflation and Growth Data Ahead

A very busy week ahead with the latest ECB rate decision, Euro Area inflation, and growth data all hitting the screens in the next few days.

from DailyFX - Market News https://ift.tt/c8ODkjx
via IFTTT

USD/JPY Hovers at Key 130.00 Level as Rangebound Trade Continues

USD/JPY continues to fluctuate between gains and losses as the dollar index remains vulnerable. Will the Fed meeting inspire some renewed dollar strength?

from DailyFX - Market News https://ift.tt/rhDLAmo
via IFTTT

What is Leverage in Forex? Forex Leverage Explained

Find out how leverage works and how to manage your risk when trading FX with leverage.

from DailyFX - Market News https://ift.tt/PUMgbNj
via IFTTT

US Dollar Poised Ahead of Fed as China Returns. Where to for USD?

The US Dollar is steady so far today as the market ponders the Federal Reserve rate outlook and weighs tightening central banks against a potentially expanding Chinese economy. Will DXY go lower?

from DailyFX - Market News https://ift.tt/q80AXb1
via IFTTT

Crude Oil Price Firms as Markets Appraise Fed Hiking Against China Re-opening

Crude oil has made some ground today after sliding lower to end last week as US recession fears swirl while Chinese markets return from holidays today. Where to for WTI?

from DailyFX - Market News https://ift.tt/dzMy3Y6
via IFTTT

Markets Week Ahead: US Dollar, Euro, British Pound, Gold, Dow Jones, Fed, ECB, BoE

Traders are eyeing the Fed, BoE and ECB rate decisions for the US Dollar, British Pound and Euro, respectively. Will central banks disappoint, bringing back market volatility?

from DailyFX - Market News https://ift.tt/uyZN9cS
via IFTTT

US Dollar Technical Forecast: USD Support Test Into a Heavy Week of Data

The US Dollar took four months to wipe out 50% of a trend that took almost two years to build, but prices has been lodged at that half-way point now for two weeks. That will probably change next week.

from DailyFX - Market News https://ift.tt/fgUWQyB
via IFTTT

UK FTSE 100 Clings to Support as German Dax Battles Resistance

FTSE and Dax have remained steady, driving prices into clear ranges of support and resistance. While prices look for direction, technical levels hold firm.

from DailyFX - Market News https://ift.tt/LpndkH2
via IFTTT

USD Breaking News: PCE Price Index Declines Adding Further Pressure on the DXY

US data continues to remain resilient with the Fed meeting now firmly in focus. Slowest PCE increase in 14 months.

from DailyFX - Market News https://ift.tt/YTrOIEx
via IFTTT

GBP Price Outlook: Cable Coils into Narrow Range Ahead of Blockbuster Week

GBP/USD has attempted to trade above the 1.2445 level on a number of occasions now without success and has consolidated into a narrow range. FOMC and BoE next week

from DailyFX - Market News https://ift.tt/utB3acO
via IFTTT

EUR/USD Forecast: ECB’s Lagarde and U.S. Data in Focus for Euro Today, Turnaround Looming?

EUR/USD bears may look to capitalize on any U.S. positivity on what has been an overcrowded bullish sentiment of recent.

from DailyFX - Market News https://ift.tt/5JFCs8c
via IFTTT

Japanese Yen (USD/JPY) Trapped in a Narrow Range Ahead of US Core PCE

Inflation in Japan’s capital Tokyo continued to climb, data showed last night, underpinning the Yen ahead of the release of the Federal Reserve’s preferred measure of US inflation, core PCE

from DailyFX - Market News https://ift.tt/xDjcsNG
via IFTTT

Rand Dollar Outlook: USD/ZAR Shakes Off Dovish SARB & Positive US GDP

The South African Rand has fallen back into a narrow range after the Reserve bank cut growth forecasts and raised rates by a softer 0.25%.

from DailyFX - Market News https://ift.tt/3rLQf8p
via IFTTT

US Breaking News: Q4 GDP Surges to 2.9% on the Quarter, USD Dips

GDP continues to show the US economy’s resilience despite warnings of a growth slowdown. Even the employment data showed positive signs in an already tight market

from DailyFX - Market News https://ift.tt/scWEGme
via IFTTT

How to Trade Forex News: An Introduction

Find out the essentials of trading the news with this introductory guide to forex news trading

from DailyFX - Market News https://www.dailyfx.com/forex/fundamental/article/special_report/2023/01/26/how-to-trade-forex-news.html
via IFTTT

British Pound Latest: GBP/USD Testing Stubborn Resistance Again

The first look at US Q4 GDP hits the screens shortly and cable (GBP/USD) traders will be watching this release closely

from DailyFX - Market News https://ift.tt/c5s8vok
via IFTTT

EUR/USD Consolidates Around the 1.09 Handle as the Dollar Index Remains Vulnerable

EUR/USD looking to break key long-term resistance around 1.0930. Will US GDP data provide the needed catalyst?

from DailyFX - Market News https://ift.tt/G9rtU27
via IFTTT

Crude Oil Update: Steady Brent Looks to U.S. Data for Guidance

Brent crude oil prepares itself for key US economic data later today as it starts off the European session on the backfoot.

from DailyFX - Market News https://ift.tt/sOU5aYg
via IFTTT

Dollar Tight Range to Be Tested by GDP and Fed’s Preferred Inflation Read

Risk trends continue to exhibit anxiety amid chop that fully undermining major technical levels. Meanwhile, the Dollar has been remarkably stoic with a 9-day range that rivals the year-end holiday trade. Will the forthcoming US GDP and PCE readings earn a breakout? What’s more, could a break turn to a trend with FOMC and NFPs on deck next week?

from DailyFX - Market News https://ift.tt/ITEQvzs
via IFTTT

USDJPY Outlook: A Break Decided Between Rate Forecasts and Risk Trends

There are competing forces on Dollar, which have prevented the benchmark currency from developing a clear trend. Those competing fundamental winds are even more severe when it comes to USDJPY, which has further developed the month’s long channel. What could push this cross to break?

from DailyFX - Market News https://ift.tt/NefhzoB
via IFTTT

Bitcoin Price Forecast: BTC/USD Hesitant as Bullish Momentum Fades

Bitcoin prices have fallen back into a narrow range that has formed around the September high of $22,781. Will a break of this zone determine the next move for BTC?

from DailyFX - Market News https://ift.tt/j4HykPm
via IFTTT

Euro Latest: EUR/USD Steady Near its Multi-Month High, German Ifo Report Cheers

Sentiment in the German economy ‘has brightened’ according to the latest Ifo report and this may give ECB a bit more ammunition as they continue to push for multiple rate hikes

from DailyFX - Market News https://ift.tt/onyOQIc
via IFTTT

WTI Oil Prints Evening Star Pattern; Further Downside Ahead?

WTI has found resistance at the 100-day MA as Chinese Holidays, inventory buildup and economic concerns weigh on prices.

from DailyFX - Market News https://ift.tt/HIgiPWj
via IFTTT

Austrian Dollar Update: CPI Beat Reveals Worrying Trend for the RBA

The Australian dollar benefitted from higher-than-expected inflation data which turns the focus to the RBA early next month. Aus inflation data diverges from the US

from DailyFX - Market News https://ift.tt/TyDWbVe
via IFTTT

US Dollar Grasps for Support at Eight Month Lows

The US Dollar continues to hold very near eight-month-lows and Friday brings a key inflation print to markets with the release of Core PCE.

from DailyFX - Market News https://ift.tt/TUgNHom
via IFTTT

USD Breaking News: Dollar Index (DXY) Pops on U.S. PMI Beat

The U.S. dollar found some bullish support post-PMI data which maintained its contractionary outcome but at a slower rate than previous prints.

from DailyFX - Market News https://ift.tt/LTjAfup
via IFTTT

Silver Price Outlook: XAG/USD Relief Rally Buoyed by Dollar Weakness

Silver prices have recovered a large portion of yesterday’s losses after testing psychological support at $23.00. With USD weakness driving gains, economic data could boost gains.

from DailyFX - Market News https://ift.tt/9qa5zmp
via IFTTT

Gold Prices Power Ahead, Will XAU/USD Break $2,000 Soon?

The precious metal is testing a new multi-month high and with little in the way of resistance on the charts, gold may soon challenge $2,000/oz.

from DailyFX - Market News https://ift.tt/AtmJrXn
via IFTTT

UK PMIs Add to Disappointing Data Ahead of BoE Meeting, GBP Lower

UK services PMI data saw the fastest drop in business activity in the last 24 months while manufacturing beat estimates. The report compounds recent negative data prints

from DailyFX - Market News https://ift.tt/eh39vco
via IFTTT

Euro Breaking News: EURUSD Bid as PMI Data Continues Upward Trajectory

Euro Area PMI continues to improve adding further credence that the Eurozone may escape a recession.

from DailyFX - Market News https://ift.tt/qnPTWor
via IFTTT

Nasdaq, S&P 500 Breakout with Earnings in Focus

Both the Nasdaq and S&P 500 have broken out to fresh highs and earnings are very much in focus this week. But is this more driven by short cover ahead of earnings announcements or is this legitimate accumulation on the back of more dovish expectations around the Fed?

from DailyFX - Market News https://ift.tt/XYxdTh2
via IFTTT

DAX, FTSE Prices Muted in Narrow Range of Technical Support and Resistance

European equities continue to trade in a narrow range of support and resistance as bulls and bears struggle to break technical support and resistance.

from DailyFX - Market News https://ift.tt/qu0xVdT
via IFTTT

WTI Oil Advances to the 100-Day MA; Breakout or Retracement Imminent?

WTI looks on course for its third straight day of gains. Price action and a softer dollar hints at further upside ahead.

from DailyFX - Market News https://ift.tt/vEiy13q
via IFTTT

Gamma Squeeze Explained: Basic Options Theory and How it Works

Demystify the concept of the gamma squeeze by uncovering its foundations, causes and examples in this practical article.

from DailyFX - Market News https://ift.tt/baRxAjn
via IFTTT

British Pound (GBP/USD) Latest: Fresh Multi-Month High in Sight

Cable is pushing higher again in early European turnover, boosted by a weaker US dollar. Can the British Pound help push the pair even higher?

from DailyFX - Market News https://ift.tt/mH2dEGX
via IFTTT

Quantitative Tightening: What is it and How Does it Work?

Quantitative tightening is a policy tool used by central banks to moderate an overheating economy. Find out how it is implemented and uncover its potential drawbacks

from DailyFX - Market News https://ift.tt/v8JMUwy
via IFTTT

AUD/USD Forecast: Higher Australian Inflation Expectations Keep Aussie Bid

AUD/USD market participants exhibit hesitancy ahead of some key AUD and USD economic data.

from DailyFX - Market News https://ift.tt/iFnV4ep
via IFTTT

US Dollar Slips as Markets Weigh Fed Perspectives in Thin Trade. Lower USD?

The US Dollar has given ground on Monday after the Federal Reserve hinted toward a less hawkish stance at their meeting next week. Where to for the DXY (USD) index?

from DailyFX - Market News https://ift.tt/oGSux5c
via IFTTT

Markets Week Ahead: Dow Jones, Nasdaq 100, Canadian Dollar, BoC, AUD/USD, NZD/USD

The Dow Jones fell as the Nasdaq 100 rose in a tech-fueled rally last week. Ahead, the Canadian Dollar is eyeing the BoC, with AUD/USD and NZD/USD facing inflation data.

from DailyFX - Market News https://ift.tt/8CPX9Vv
via IFTTT

Euro Weekly Outlook: ECB vs Fed Continues Next Week, EUR/USD Seeks Breakout

EUR/USD has been on a one-way street but may be in for a change in fortunes with key U.S. data and ECB speakers programmed throughout the week.

from DailyFX - Market News https://ift.tt/Azuyik1
via IFTTT

What Leads Dollar and S&P 500 to Stop Flirting With Volatility and Break Congestion?

A week of potential that never come to fruition has come to a close. Risk assets led by the S&P 500 broke off from the immediate pressure of a full bullish reversal while the prevailing winds of a Dollar breakdown died down on the other side of key technical progress. With more serious event risk ahead, can volatility turn into trend?

from DailyFX - Market News https://ift.tt/ldp8U7f
via IFTTT

Bitcoin (BTC) Flirts with $21000 While ETH/USD Dips Below $1600.

Bitcoin and Ethereum have snapped back after two-weeks of gains pushing BTC and ETH to key psychological levels of support and resistance.

from DailyFX - Market News https://ift.tt/yMWRpgY
via IFTTT

Crude Oil Holds Gains On Hopes For China Demand Rebound

Crude Oil prices have shrugged off news of a large US stock build as the market remains China focused

from DailyFX - Market News https://ift.tt/1ZqxR5r
via IFTTT

Euro (EUR/USD) Latest – The Bullish Trend Remains in Place as the ECB Talks Tough

ECB President Christine Lagarde recently said that the financial markets are underpricing future interest rate hikes, but are the markets listening?

from DailyFX - Market News https://ift.tt/zvMqrYR
via IFTTT

XAU/USD Forecast: Gold Elevated as Markets Continue to Dismiss Fed Guidance

Gold prices could be in for a pullback should markets underestimate the Fed after what has been a positive year thus far for XAU/USD.

from DailyFX - Market News https://ift.tt/Gn5Kqvi
via IFTTT

GBP/USD Forecast: Dismal December Retail Sales Leads Cable Lower

Cable has enjoyed a decent run to the upside, fueled by dollar weakness. December strikes take a toll on retail sales data, leading GBP/USD lower in early London trading

from DailyFX - Market News https://ift.tt/gGl3joU
via IFTTT

Netflix Earnings Mixed, Don’t Offer Nasdaq 100 and Tech a Clear Path to Recovery

Netflix was the first of the FAANG members and non-blue chip tech companies to report its earnings afterhours Thursday. The streaming media company reported a significant miss on earnings per share (EPS) but the increase in paid membership seemed to soften the blow.

from DailyFX - Market News https://ift.tt/PxYsA9u
via IFTTT

Gold Price Outlook: XAU/USD Bounces Back, Rising Above $1,900

Gold prices have rebounded above $1,900 after a slight pullback drove XAU/USD below the key psychological level providing support and resistance for the precious metal.

from DailyFX - Market News https://ift.tt/dnGPsAW
via IFTTT

US Equities Sell-off: SPX, Nasdaq and Dow Hint at a Lower Open

The Dow led the drop in US stocks after dismal retail sales data and a stern reminder from the Fed’s Bullard that recent price declines won’t distract the committee

from DailyFX - Market News https://ift.tt/pArRqHk
via IFTTT

GBPUSD Slips But Remains Well Bid On Interest Rate Bets

A lack of UK economic news has seen the Pound retreat a little, but it remains well supported close to six-month highs

from DailyFX - Market News https://ift.tt/KviQU2m
via IFTTT

US Dollar (DXY) Latest: Weak Rebound off the Multi-Month Low, Slowdown Fears Grow

The US dollar’s latest attempt to push higher has been met with apathy and with US Treasury yields falling further, the path of least resistance for the greenback looks lower.

from DailyFX - Market News https://ift.tt/wFoN3V6
via IFTTT

EUR/USD Forecast: Upcoming ECB Minutes to Augment Hawkish Bets?

EUR/USD remains elevated ahead of key ECB releases. How much further can the euro go?

from DailyFX - Market News https://ift.tt/fsJwnYv
via IFTTT

New Zealand Dollar Looks Past PM Jacinda Ardern’s Resignation, Eyes on Wobbly Markets

The sentiment-linked New Zealand Dollar looked past NZ Prime Minister Jacinda Ardern resigning. Rather, NZD/USD remains focused on wobbly markets after US data spooked traders.

from DailyFX - Market News https://ift.tt/BupiAHa
via IFTTT

S&P 500 Reversal Packs More Global Punch Than USDJPY’s Drama

The fallout from the Bank of Japan’s ‘status quo’ monetary policy decision was top spot for macro traders, but the later reversal from the S&P 500 and other risk assets will carry more consequence. Have the bulls capitulated and why did the Dollar recover despite a further slip in rate expectations?

from DailyFX - Market News https://ift.tt/g4hnMmN
via IFTTT

US Dollar (DXY) Remains Under Pressure Ahead of Important US Data

The US dollar trades just above a multi-month support level and with important US retail sales and PPI on deck, this zone may come under pressure.

from DailyFX - Market News https://ift.tt/NzE1i9d
via IFTTT

Gold Update: XAU/USD Eyes U.S. Economic Data for Guidance

Gold received support today from a weaker US dollar as markets keenly await U.S. PPI and retail sales figures for December. XAU/USD holding above $1900 for now.

from DailyFX - Market News https://ift.tt/wnqZcrt
via IFTTT

EU Announces Support for Green Investment at Davos, EUR/USD Higher

EU delegates announced a response to the US Inflation Reduction Act to keep firms from heading abroad. Quieter calendar points to EUR/USD trend continuation

from DailyFX - Market News https://ift.tt/s5OreKy
via IFTTT

Crude Oil Testing Multi-Week Resistance on Positive Chinese Outlook

Oil rallies into an old level of resistance and looks set to press higher after this week’s positive Chinese growth data fuels sentiment.

from DailyFX - Market News https://ift.tt/SKFIeqB
via IFTTT

Breaking News: Pound Bid After Core Inflation Beat, 50bps Secured?

GBP/USD reacted favorably to elevated UK inflation, placing the Bank of England in an interesting position ahead of next months interest rate decision.

from DailyFX - Market News https://ift.tt/L1i7etG
via IFTTT

German Dax Rally Remains Intact Despite Slowing Momentum

The German Dax 40 index has followed major stock indices higher, finding support above prior resistance the key psychological level of 15,000. Can bulls retest 15,400?

from DailyFX - Market News https://ift.tt/AEgGDOJ
via IFTTT

Gold Prices Slip But Bulls Still In Control, Eyeing $2000

Gold is probably due a little consolidation after a breakneck run higher since the end of 2022 as inflation worries have eased

from DailyFX - Market News https://ift.tt/OLjsrWI
via IFTTT

FTSE Pauses Ahead of All-Time High as Solid Jobs Data Buoys Sterling

The FTSE index outperformed most major indices last year and continues that momentum in early 2023. However, early signs of slowing momentum have appeared

from DailyFX - Market News https://ift.tt/Rc90mo6
via IFTTT

How to use the PPI in Forex Trading

Inflation rate can determine the value of a country’s currency. Learn how the PPI impacts forex.

from DailyFX - Market News https://ift.tt/EXgnrZh
via IFTTT

British Pound Latest – GBP/USD Pushes Higher on UK Jobs Data

UK wages are continuing to rise at a rapid rate but persistently high inflation means consumers continue to see their real wages fall.

from DailyFX - Market News https://ift.tt/4yLOwDR
via IFTTT

Japanese Yen Slides Ahead of BoJ While Chinese Data was Digested. Where to for USD/JPY?

The Japanese Yen went lower again today as the market eyes the Bank of Japan meeting tomorrow where further tightening cannot be ruled out. Will a tilt see USD/JPY make new lows?

from DailyFX - Market News https://ift.tt/4rANSZ3
via IFTTT

Bitcoin Outlook: BTC/USD Bullish Breakout Drives Crypto Recovery

Bitcoin prices have continued to trade higher after a 26% rise in BTC/USD fueled a bullish breakout above $19,666, the December 2017 high now holds as support for the short-term move.

from DailyFX - Market News https://ift.tt/EKLsgmz
via IFTTT

EURUSD Hits New 9-Month High But Bulls May Be Out of Puff

There wasn’t much data for traders to digest on Monday, but suspicions that Eurozone borrowing costs will rise sharply keep the Euro supported

from DailyFX - Market News https://ift.tt/AxVfmn8
via IFTTT

How Central Banks Impact the Forex Market

Discover how policies and interest rate hikes of central banks impact forex and trading decisions.

from DailyFX - Market News https://ift.tt/Xu75JQ4
via IFTTT

Crude Oil Forecast: Brent Tests Key $85 Handle Ahead of Data Heavy Week

Brent crude begins the week on the back foot while markets look forward to key crude oil data.

from DailyFX - Market News https://ift.tt/DqAg2ir
via IFTTT

Australian Dollar Buoyed by Sentiment as China Moves into Focus. Higher AUD/USD?

The Australian Dollar continued to climb at the start of the week with hopes of China’s re-opening lifting base metals and sinking the US Dollar. Where to for AUD/USD?

from DailyFX - Market News https://ift.tt/THmABI6
via IFTTT

Japanese Yen Appreciation Intact After PPI Data Ahead of BoJ Meeting. Lower USD/JPY?

The Japanese Yen is holding onto last week’s gains after a red-hot PPI number presents a dilemma for the Bank of Japan and its monetary policy posture. Is USD/JPY heading south?

from DailyFX - Market News https://ift.tt/CHaENi3
via IFTTT

Markets Week Ahead: S&P 500, Nasdaq 100, US Dollar, Gold, Japanese Yen, BoJ

The S&P 500, Nasdaq 100 and gold gained as the US Dollar fell after CPI data last week. Ahead, the Japanese Yen will be eyeing the BoJ. AUD/USD turns to Chinese GDP data. What else?

from DailyFX - Market News https://ift.tt/4k5G6xF
via IFTTT

Japanese Yen Weekly Forecast: Optimism Around BoJ Shift Lifts JPY

The Japanese Yen enters the week on a positive note ahead of the highly anticipated BoJ rate decision that could bring about a change to a longstanding policy outlook.

from DailyFX - Market News https://ift.tt/rHPGwyD
via IFTTT

S&P 500 Toes Technical Cliff, Dollar Has Lost Half of its Rate Era Climb, Event Risk Uneven

Both the benchmark for global equities and the world’s most liquid currency registered meaningful progress this past week while still standing firmly in a shadow of doubt around commitment. On the cusp of ‘risk on’ breaks, how will holiday liquidity and an eclectic mix of top event risk steer conviction?

from DailyFX - Market News https://ift.tt/Ec6L15A
via IFTTT

Michigan Consumer Sentiment Beats Across the Board, US Dollar Unmoved

The US dollar is little changed after the release of the latest Uni of Michigan Consumer Sentiment report showed consumer sentiment picking up sharply.

from DailyFX - Market News https://ift.tt/wrkpDFL
via IFTTT

GBP/USD Gains On US Inflation, Surprise Sign of UK Growth

The Pound got some rare support from its domestic economy, but US Inflation is doing the heavy lifting here

from DailyFX - Market News https://ift.tt/QtiNyaU
via IFTTT

U.S Banks BAC, WFC and JPM Launch Earnings Season

Q4 earnings commenced with Bank of America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) all showing similar trends across financial metrics.

from DailyFX - Market News https://ift.tt/SIhkp61
via IFTTT

Gold Outlook: XAU/USD Soars but Overbought Signals Flash Red

Gold has enjoyed a prolonged bullish run with little indication of a deep pullback until now. The yellow metal faces the next zone of resistance above 1900

from DailyFX - Market News https://ift.tt/z8nKI0d
via IFTTT

S&P 500, Nasdaq 100 Latest – Focus Now Turns to US Earnings Season

US equity markets have enjoyed a positive week on benign economic data. Ahead, the latest look at US corporate earnings may add a dose of volatility to a range of indices.

from DailyFX - Market News https://ift.tt/AZmOlb8
via IFTTT

Dollar Breaks But S&P 500 Can’t Overcome 200-Day Average After CPI, Bank Earnings Ahead

US inflation continued its slide back towards earth, but the market struggled to muster a clear ‘risk appetite’ response. Whether the markets are starting to fully discount a steady CPI retreat or the report was just undermined by its ‘in-line’ print, we have another spark to push the S&P 500 ahead: bank earnings…

from DailyFX - Market News https://ift.tt/xqKgm1V
via IFTTT

Gold Prices Break Higher After US CPI Sank US Dollar, Where to for XAU/USD?

Gold prices roared higher after an in-line US CPI report sank the US Dollar and Treasury yields. XAU/USD broke higher, restoring momentum. Where to from here?

from DailyFX - Market News https://ift.tt/aKCrLY7
via IFTTT

US Dollar Price Action Setups post-CPI: EUR/USD, GBP/USD, USD/JPY

The US Dollar sold-off after an in-line CPI print, dropping down to a Fibonacci level and trendline for a support test.

from DailyFX - Market News https://ift.tt/F4vHBjb
via IFTTT

S&P 500 Post CPI Rally Muted by Technical Resistance

US CPI data for the month of December fell in-line with expectations in anticipation of bank earnings, providing an initial lift to S&P 500. Can SPX clear 4000 to move higher?

from DailyFX - Market News https://ift.tt/raPEbWA
via IFTTT

CPI Breaking News: US Headline CPI 6.5%, Core at 5.7% - In line with Estimates

US inflation continues to ease as the December measures of core and headline inflation print in line with estimates. S&P shoots above 4000, DXY below 103

from DailyFX - Market News https://ift.tt/vi3DguU
via IFTTT

EURUSD Bullish As Key US Inflation Data Approach

The Euro remains supported against the Dollar by interest rate forecasts as a key clue to that thesis approaches

from DailyFX - Market News https://ift.tt/C9mDjyG
via IFTTT

US Dollar (DXY) Treading Water as US CPI Data Nears, Volatility Subdued for Now

The US dollar remains under pressure ahead of the latest inflation report with markets pricing in a subdued reading. Will today’s CPI release confirm this optimism?

from DailyFX - Market News https://ift.tt/dqgmvJW
via IFTTT

XAU/USD Forecast: Gold Optimistic About Softening U.S. Inflation

Gold has been benefitted from the recent dollar selloff ahead of key US CPI data. XAU/USD currently tests the key $1880 handle.

from DailyFX - Market News https://ift.tt/LYfopgi
via IFTTT

Can CPI Recharge VIX and Spark a True S&P 500 Trend?

We will soon trade anticipation for fundamentally-driven action. The CPI release is due before the US open, and traders are clearly well-aware of the indicator’s recent history of invoking volatility. Will this release resolve our lack of trend and persistent volatility crush or will the attention turn immediately to bank earnings?

from DailyFX - Market News https://ift.tt/aMz24Ol
via IFTTT

Crude Oil Posts Biggest Rally Since November 4 with CPI Volatility Ahead

US-based crude oil futures rallied a healthy 3.3 percent this past session against a backdrop of measures ‘risk appetite’. The chart for capital markets assets connects more readily to hope for a quicker downshift in inflation and pressure for the Fed to drop rates, but can crude oil draw the same connections?

from DailyFX - Market News https://ift.tt/YzMixCw
via IFTTT

EUR/GBP Forecast: Euro Takes Centre Stage Via ECB Speakers

The EUR/GBP currency pair is trading higher this Wednesday on the back of hawkish ECB officials in preparation for key economic data later in the week.

from DailyFX - Market News https://ift.tt/CPhrgwY
via IFTTT

Gold Price Latest: XAU/USD Piercing Multi-Month Resistance

The precious metal continues to grind higher and unless Thursday’s US inflation release comes in higher than expected, gold is likely to test resistance around the $1,900/oz. level this week.

from DailyFX - Market News https://ift.tt/dwS2Cn6
via IFTTT

USD/JPY Latest: Hints of BoJ Policy Tweaks and Death Cross in View

USD/JPY has been dropping as US interest rate expectations are revised lower. A potential death cross in the pair supports the current trend ahead of crucial US CPI

from DailyFX - Market News https://ift.tt/AZ2DJKv
via IFTTT

AUDUSD and NZDUSD Outlook from the Charts and Fundamental Perspective

US fundamental themes and the Dollar continue to exert an exaggerated influence on the major FX market. However, with growing speculation of the Fed’s rate potential slipping; can two of the top ‘carry currencies’ stand to benefit? We focus in on the Australian and New Zealand Dollar crosses.

from DailyFX - Market News https://ift.tt/C4yYb8U
via IFTTT

S&P 500 Price Outlook: Banks Kick off Q4 Earnings, Index Remains Vulnerable

Banks are expected to issue profit warnings for 2023 ahead of their Q4 earnings reports later this week. S&P 500 fails to follow through on bullish momentum

from DailyFX - Market News https://ift.tt/YjxaOPN
via IFTTT

Gold Holds Bid Before Powell, Bulls Try Channel Top

Gold prices remain around seven-month highs on hopes that the vast bulk of US interest rate hikes is now behind us.

from DailyFX - Market News https://ift.tt/gECd7wF
via IFTTT

Euro Latest – EUR/USD Testing Multi-Month Highs Again

The recent EUR/USD rally has seen the pair print a fresh multi-month high with US dollar sellers in charge of the move

from DailyFX - Market News https://ift.tt/oMdNt6n
via IFTTT

Crude Oil Forecast: WTI Dictated by USD, Fed Chair Jerome Powell in Focus

WTI crude is trading at a key area of confluence ahead of Jerome Powell’s speech.

from DailyFX - Market News https://ift.tt/lypBm59
via IFTTT

Japanese Yen at Crossroads as US Dollar Sinks on Fed Comments. Where to for USD/JPY?

The Japanese Yen has struggled to make headway against a US Dollar that slipped lower elsewhere amid a Federal Reserve re-iterating its high for longer rate path. Will USD/JPY go lower?

from DailyFX - Market News https://ift.tt/PEMkQ0w
via IFTTT

US Dollar Sinks to Support After PMIs: CPI Data Ahead

The US Dollar is moving down to a fresh low, fast approaching a spot of confluent support around the 103 handle on DXY.

from DailyFX - Market News https://ift.tt/l3dCZ2t
via IFTTT

Gold, Silver Technical Forecast: Gold's Rapid Rise Meets Resistance, Silver Cools

Gold and silver enjoyed months of price appreciation as the USD selloff took shape. Silver appears to be cooling faster although, XAU/USD faces stern resistance at 1875

from DailyFX - Market News https://ift.tt/C9ijTlg
via IFTTT

British Pound Update: GBP/USD Rallies on US Dollar Weakness

Cable is continuing to push higher this morning with the move driven by ongoing weakness in the US dollar after Friday’s woeful US ISM data.

from DailyFX - Market News https://ift.tt/nzaHEIc
via IFTTT

EUR/USD Forecast: Softening U.S. Inflation Potential Pillars Euro

The EUR/USD has benefited from the recent dollar sell-off ahead of the highly anticipated U.S. CPI print later this week.

from DailyFX - Market News https://ift.tt/TbsfDFr
via IFTTT

Australian Dollar Leaps Despite Weak Data as the US Dollar Slides. Higher AUD/USD?

The Australian Dollar motored higher with the US Dollar giving up ground on the back of conjecture that the Federal Reserve might have wriggle room on looming hikes. Where to for EUR/USD?

from DailyFX - Market News https://ift.tt/kmfvs6e
via IFTTT

Crude Oil Price Steadies the Ship Despite the Fed Staying on Course. Where to for WTI?

Crude oil has made some ground today after a wild ride last week that saw large declines with the Federal Reserve set to make the hard decisions to slow the economy. Will WTI rebound?

from DailyFX - Market News https://ift.tt/HDKuXpU
via IFTTT

Markets Week Ahead: Dow Jones, S&P 500, US Dollar, Gold, British Pound, US CPI

The Dow Jones and S&P 500 gained as softer US economic data cooled the US Dollar, pushing gold prices higher. Ahead, all eyes turn to US CPI and UK GDP figures.

from DailyFX - Market News https://ift.tt/vBCEx7T
via IFTTT

Gold Fundamental Price Outlook: XAU/USD Primed for the Next Leg Higher

The precious metal continues to be in the thrall of US rate expectations and with yields starting to reverse lower from their recent elevated levels, gold may soon attempt to make a fresh multi-month high.

from DailyFX - Market News https://ift.tt/bDZJFut
via IFTTT

USD Weekly Outlook: Dollar Index (DXY) Eyes U.S. CPI

The U.S. dollar starts the week under pressure but may find some respite from U.S. CPI should actual figures exceed forecasts.

from DailyFX - Market News https://ift.tt/FiVxahP
via IFTTT

Australian Dollar Outlook: Volatility Kicks in for 2023

The Australian Dollar had a bumpy ride into the new year with Chinese policy adjustments and US Dollar fluctuations running amok. Will AUD/USD find its own path?

from DailyFX - Market News https://ift.tt/0XJALMp
via IFTTT

USD/ZAR Outlook: Dollar Remains Dominant Driver of Rand Post NFP

The South African Rand has remained resilient despite a resurgence or Dollar strength which drove USD/ZAR back above 17.00.

from DailyFX - Market News https://ift.tt/IajsAL4
via IFTTT

US Dollar Breaking News: US NFPs +223K, Unemployment Rate Drops to 3.5%

The latest US NFP report beat market expectations, +223k vs. +200k expectations, the unemployment rate fell to 3.5% from 3.7%, but hourly earnings fell.

from DailyFX - Market News https://ift.tt/sVar8u3
via IFTTT

GBP/USD Update: Technicals Hint at Further Downside

GBP/USD surrendered the 1.2000 handle yesterday following positive US ADP data. Head and shoulders pattern doesn’t bode well for cable with NFP lying in wait.

from DailyFX - Market News https://ift.tt/rMcLOyK
via IFTTT

Euro Breaking News: EU Inflation Drops to 9.2% (Core up 0.2% YoY)

EU inflation dropped from a high of 10.6% in October to an estimated 9.2% for December. However, core inflation rose suggesting that widespread price pressures linger

from DailyFX - Market News https://ift.tt/jzJnSC2
via IFTTT

AUD/USD Forecast: Choppy Trading Seeks Catalyst, NFP and ISM?

AUD/USD remains between the 0.67 and 0.68 levels but could soon breakout depending on the upcoming NFP and ISM data prints.

from DailyFX - Market News https://ift.tt/GzckD9w
via IFTTT

AUDUSD, AUDJPY and AUDNZD Outlook Present Very Different Pictures

The Australian Dollar is one of the major currencies, but it significantly less liquid than some of its major counterparts. That can translate into significantly different market performances among the crosses. We look at the rapid reversals of AUDUSD, the drawn out turn threat of AUDJPY and AUDNZD’s productive trending.

from DailyFX - Market News https://ift.tt/kBp2Kqm
via IFTTT

EUR/USD Forecast: False Breakdown Looks to Potential Catalysts, NFP, Inflation Data

EUR/USD is in need of a catalyst to break free from the narrow trading range. Could Friday’s NFP or the upcoming EU and US inflation data do the trick?

from DailyFX - Market News https://ift.tt/UjPb84W
via IFTTT

FTSE 100 Technical Outlook – Running Into a Zone of Resistance

The FTSE 100 is touching a fresh multi-month high and looks set to challenge last year’s peak.

from DailyFX - Market News https://ift.tt/BnSRUri
via IFTTT

US Dollar (DXY) Shrugs Off the Fed, Focus Now Turns to NFPs

The US dollar is little changed after the release of last night’s FOMC minutes and traders will hope that Friday’s labor report will give the greenback a boost.

from DailyFX - Market News https://ift.tt/wVYzlDJ
via IFTTT

Canadian Dollar Forecast: USD/CAD Bearish Engulf Resisted by Stronger USD

USD/CAD hovers around the 1.35 support level ahead of key U.S. and Canadian economic data.

from DailyFX - Market News https://ift.tt/YOJC1jb
via IFTTT

Japanese Yen in Focus as Crude Oil Sails South. Will Lower Energy Prices Sink USD/JPY?

The Japanese Yen has steadied after losing ground to the US Dollar overnight after the Federal Reserve reiterated that rates are going higher for longer. Where to for USD/JPY?

from DailyFX - Market News https://ift.tt/eu2SHrT
via IFTTT

Dollar Recovery Remains Unclear After FOMC Minutes Keeps Inflation in Focus

The Federal Reserve released the transcript of its controversial December rate decision. Despite a clear focus holding to inflation, the markets remain unfazed in discounting their intentions with the Dollar waffling while Treasury yields hold firm.

from DailyFX - Market News https://ift.tt/8EYURgB
via IFTTT

Brent Crude Technical Update: Rising Wedge Breakdown Favors Downside

An impressive two-day decline in oil prices hints at a bearish continuation if the latest break below the rising channel holds at the close

from DailyFX - Market News https://ift.tt/do07kzq
via IFTTT

Gold Price (XAU/USD) Hits a Fresh Six-Month High Ahead of the FOMC Minutes

The precious metal has made a robust start to the year but the latest FOMC minutes out later today may stall the move.

from DailyFX - Market News https://ift.tt/sTtM4H6
via IFTTT

Euro Breaking News: EURUSD Bid as PMI Data Continues to Improve

Euro Area PMI data remains in contraction territory but displays positive signs as downturn eases and prices cool. Could this be the start of a larger a trend?

from DailyFX - Market News https://ift.tt/K4RaJ8x
via IFTTT

Crude Oil Slips as US Dollar Rallies Amid Recession Fears. Will WTI Push Lower?

Crude oil prices remain under pressure as concerns mount about global growth prospects that initially saw the US Dollar climb before easing today. Will a recession push WTI lower?

from DailyFX - Market News https://ift.tt/nZtQPjC
via IFTTT

Gold Forecast: XAU/USD New Year Rally Turns to ISM Data as Treasury Yields Dip

Gold prices rallied to start 2023 as the 10-year Treasury yield sank. Ahead, XAU/USD is eyeing ISM Manufacturing data after optimism during Wednesday’s Asia trading session.

from DailyFX - Market News https://ift.tt/RgPUv2S
via IFTTT

US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY

The USD started off the year with a spurt of strength. But will the Q4 bearish trend take over again, or will see see the bullish breakout that was so prominent in the first nine months of 2022 return?

from DailyFX - Market News https://ift.tt/Cg5OYpI
via IFTTT

Dax, Ftse Positive in First Trading Session of 2023 While Dow Lags

The German Dax and FTSE 100 have entered the year on a positive note while the Dow Jones lagged in the first trading session of the new year.

from DailyFX - Market News https://ift.tt/uiCIDEN
via IFTTT

Crude Oil Forecast: WTI Finding Resistance but Bullish Momentum Remains Intact

The oil market will be subjected to the effects of constrained supply, meant to offset lower future demand from contracting global economies

from DailyFX - Market News https://ift.tt/CBMp7Sg
via IFTTT

GBP/USD Surrenders the 1.2000 Level as the Dollar Index Roars to Life

GBP/USD starts the new year on the back foot with UK PMI hinting at a tough Q1 for the UK economy. Further downside in store for cable?

from DailyFX - Market News https://ift.tt/oWePTwv
via IFTTT

XAU/USD Forecast: Technical Factors Drive Gold Bulls to 1850

Spot gold kicks of 2023 breaking 1850 but XAU/USD shows potential for pullback towards 1830.

from DailyFX - Market News https://ift.tt/Eqre8n9
via IFTTT

Japanese Yen Springs to Life as Bank of Japan Tightening is in Focus. Lower USD/JPY?

The Japanese Yen gained today as the market looks at the shift in the Bank of Japan’s monetary policy. China’s new approach to Covid-19 is also on traders’ minds.

from DailyFX - Market News https://ift.tt/0TeGuFb
via IFTTT

Australian Dollar Outlook for 2023 Might Remain US Dollar Dependent Amid Uncertainty

The Australian Dollar has started 2023 on the backfoot with the US Dollar broadly stronger across the board in thin trading conditions before investors and traders return from holidays.

from DailyFX - Market News https://ift.tt/52Rpxc9
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Seven

We introduced charts in our series but there's a lot that goes into technical analysis. In this installment, we attempt to condense it down to the lowest common denominator.

from DailyFX - Market News https://ift.tt/DGIt3ep
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Six

Technical analysis is a popular field of study in FX markets even though it is simply an examination of the past.

from DailyFX - Market News https://ift.tt/Q3VyaYd
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Five

In our last installment, we looked at the 'who,' and this time we shift our focus to the 'what.' What are the biggest news events for the FX market?

from DailyFX - Market News https://ift.tt/Q32SnHR
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Four

Fundamental analysis is key for projections, but since the global financial collapse, there's been a dominant force that traders need to account for, and that's the Central Bank.

from DailyFX - Market News https://ift.tt/GFnH36k
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Three

Analysis is key for traders' decision making processes, but this is a wide field with numerous topics. In this article, we aim to simplify while helping you to get started.

from DailyFX - Market News https://ift.tt/c9JKCbw
via IFTTT

DailyFX Forex Trading Course Walkthrough: Part Two

What fundamental factor is a primary driver of FX prices? In this second installment in our 10-part series, we shift the focus to an important aspect of market dynamics.

from DailyFX - Market News https://ift.tt/HjP8Au7
via IFTTT