The Fed's monetary policy guidance at its penultimate meeting of the year will help determine the short-term outlook for the Nasdaq 100 and EUR/USD. For this reason, traders should pay close attention to Powell's press conference on Wednesday.
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Tuesday, 31 October 2023
Bitcoin (BTC/USD) Technical Outlook: Golden Cross Pattern Fails to Inspire Higher Prices, What Next?
Bitcoin takes a breath but remains underpinned by Spot ETF hope. Will we remain rangebound ahead if news on the Spot ETF application?
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Nasdaq 100, Dow and Nikkei 225 Make Headway in Morning Trading
Indices appear to have stabilised for now, with gains in both US futures and in the Nikkei 225.
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AUD/USD Price Forecast: Aussie Dollar Bruised by Chinese PMI’s
AUD prices fell after Chinese manufacturing PMI’s slipped back into contractionary territory as markets look ahead to US CB consumer confidence.
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Monday, 30 October 2023
USD/JPY Price Forecast: BoJ Meeting to Deliver Another Tweak to YCC Policy? 145.00 Incoming?
The Yen enjoyed some strength today as Nikkei Asia broke a story that the BoJ are debating a further tweak to YCC policy. Will the BoJ follow through and what does that mean for USD/JPY?
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S&P 500 and Gold (XAU/USD) Take Diverging Paths Ahead of a Raft of Data Releases
Sentiment has seen a slight improvement to start the week helping risk assets rise. Safe havens on the other hand are experiencing a pullback. Given the risks ahead will the moves prove sustainable?
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Pound Price Forecast: Upcoming BoE Expectations Keep GBP Subdued
GBP prices stay suppressed ahead of both the Fed and BoE interest rate decisions later this week.
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Sunday, 29 October 2023
Crude Oil Steadies After as Markets Assess Middle East Risks Ahead of the Fed
The crude oil price is struggling for direction as the uncertainty for energy supply going forward weighs on sentiment. US Dollar gyrations are also dominating markets as the Fed decision looms.
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Canadian Dollar Outlook After BoC Stands Pat: USD/CAD, EUR/CAD, AUD/CAD
CAD is testing the lower end of the past one-year range against USD after BoC governor last week indicated that interest rates may have peaked. What is the outlook for USD/CAD, AUD/CAD, and EUR/CAD?
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Gold Price Jumps Hurdles Ahead of Fed and Despite a USD Rally. Higher XAU/USD?
The gold price steadied to start the week after climbing to a five-month peak last Friday. The precious metal has overcome higher Treasury yields and a solid US Dollar.
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Markets Week Ahead: Nasdaq, Gold, US Dollar; FOMC, BOJ, BoE, China PMI, Euro Area Inflation, US Jobs
Key focus in the coming week will be on the Q3 earning season, the Fed, the BOJ, and the BoE interest rate decisions. In addition, geopolitical developments in the Middle East and global manufacturing activity data will be closely watched.
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Friday, 27 October 2023
Japanese Yen (USD/JPY) Testing 150 Resistance Ahead of Bank of Japan Policy Decision
Next week’s Bank of Japan meeting is likely to be one of the most interesting meetings in years as the Japanese central bank mulls tightening monetary policy
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Thursday, 26 October 2023
Asian Indices Test Support Ahead of FOMC: Hang Seng, Kospi, Topix Price Setups
Asian equities indices are testing key support ahead of next week’s US FOMC meeting. What is the outlook for the Hang Seng Index, Kospi, and Topix and what are the key levels to watch?
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Nasdaq 100 Forecast: Cluster Support in Play after Breakdown. More Pain Ahead?
The Nasdaq 100 broke down after breaching a key technical floor, hitting its lowest level since late May. More pain could be ahead for the technology index if the bulls are unable to defend cluster support in the 14,150/13,930 range.
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Oil Price Forecast: WTI Rangebound as Demand Concerns Resurface. $80 a Barrel Incoming?
Oil prices failed to maintain yesterday's bullish momentum as markets anticipate a drop in demand in Q4 from both the US and Europe. Is WTI finally heading back to the 80.00 mark?
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Wednesday, 25 October 2023
Gold Price Ignores Rising Treasury Yields and a US Dollar Rally. Higher XAU/USD?
The gold price surged toward recent peaks today despite the US Dollar reasserting its ascendency and Treasury yields back on the march higher. Where to for XAU/USD?
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Japanese Yen Retests 150 Ahead of BOJ; USD/JPY, GBP/JPY, EUR/JPY Setups
JPY is retesting the psychological 150 mark against the USD ahead of the BOJ’s policy meeting next week. What is the outlook and what are the key levels to watch in USD/JPY, GBP/JPY, and EUR/JPY?
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US Dollar Forecast: EUR/USD, AUD/USD on Shaky Ground Ahead of US GDP Data
U.S. GDP data will steal some of the limelight on Thursday. A strong report could put upward pressure on bond yields, boosting the U.S. dollar against its major peers, such as the euro and the Australian dollar.
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GBP/USD At Risk of Freefall if 1.2000 Psychological Level is Broken
GBP/USD faced a trendline rejection and renewed selling pressure making a return to recent lows. Are we in for fresh lows or a period of consolidation ahead of Central Bank Meetings?
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Tuesday, 24 October 2023
Australian Dollar Jumps on Shocker CPI Data. If RBA Hike, Higher AUD/USD?
The Australian Dollar leapt higher immediately after headline CPI printed at 5.4% year-on-year to the end of September, adding to potential hike or hikes by the RBA. Will AUD/USD rally?
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EUR/USD Forecast: Euro Sinks After Fakeout ahead of ECB Decision. What Now?
This article offers an extensive analysis of EUR/USD, encompassing both fundamental and technical viewpoints ahead of the ECB decision. The piece also examines important price levels that may come into play in the coming trading sessions.
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Bitcoin (BTC/USD) Pops Above $35k Before a Pullback, More Upside Ahead?
Bitcoin traded briefly above the $35k mark with gains of around 15% to start the week before a pullback. Is this just a lull before a bullish explosion toward the $50k mark?
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Australian Dollar Technical Outlook: AUD/USD, AUD/JPY, EUR/AUD Setups Ahead of Inflation Data
Australian Economy has been showing signs of resilience with labor data remaining strong. Governor Bullock delivers hawkish message in first speech underpinning the AUD ahead of inflation data tomorrow. Let us take a look at potential trading setups
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Monday, 23 October 2023
Has the US Dollar Hit an Inflection Point? GBP/USD, AUD/USD, EUR/USD, USD/JPY
The US dollar’s rally is showing signs of fatigue ahead of the Oct. 31-Nov.1 FOMC meeting. What is the outlook and what are the key levels to watch in EUR/USD, GBP/USD, AUD/USD, and USD/JPY?
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Euro Jumps on Treasury Yield Slide and a Technical Break. Higher EUR/USD?
The Euro appears to have broken the descending trend as the US Dollar faces a test of resolve with Treasury yields dipping lower. If the Euro holds ground, will EUR/USD rally?
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US Dollar Index (DXY) Update: US Dollar Retreats with GBP/USD Eyeing a Trendline Break
The US Dollar Index faced selling pressure today as US Yields retreated from recent highs. GBPUSD benefitted with a deeper recovery for Cable looking more likely. Can UK Employment data help facilitate a trendline break?
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Bitcoin Breaks Psychological 30k Level as Spot ETF Approval Hopes Grow
Bitcoin rally gathers steam and trades above the 30k mark. Will a Potential Spot ETF approval ramp up institutional fund involvements and push prices higher?
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British Pound (GBP/USD) Latest – Volatility on the Horizon?
Credit ratings agency Moody’s has changed its outlook for the UK from negative to stable and confirmed the countries’ Aaa3 rating
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Sunday, 22 October 2023
Japanese Yen Eyes New Lows as Markets Speculate on BoJ Action. Intervention Ahead?
The Japanese Yen is facing scrutiny to start the week with USD/JPY edging toward prior peaks on growing unease around potential BoJ intervention. If USD/JPY pops, will the bank be selling?
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Crude Oil Correction in Play; Natural Gas’ Rebound May Not be Over
Crude oil’s downward correction that started a few weeks ago may not be over just yet. Natural gas has retreated following the bullish break earlier this month. How much more downside for crude oil and natural gas?
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Gold Price Slips After Stellar Rally Despite Lofty Treasury Yields. Higher XAU/USD?
The gold price pulled back to start the week after notching a five-week peak last Friday. Higher Treasury yields and US Dollar look to have been overrun by swirling risks elsewhere.
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Markets Week Ahead: S&P 500, Gold, US Dollar; Powell, ECB, BoC, Australia CPI, Germany Ifo, UK jobs
Conflict in Middle East and US earnings season are likely to be key drivers of broader market sentiment in the coming week. Currency markets would be watching for cues from Powell speech, European Central Bank and Bank of Canada interest rate decisions.
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Saturday, 21 October 2023
Gold/Silver Weekly Forecast: A Dead-Cat Bounce or Game Changer?
The sharp bounce in gold and silver recently has raised questions on whether it is time to reassess the bearish outlook. Is it time to reassess the broader outlook?
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Friday, 20 October 2023
USD/JPY Weekly Forecast: Japanese Yen Staggers Towards 150
JPY prices look vulnerable to another breach of the 150 resistance handle ahead of a US data focused week.
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Thursday, 19 October 2023
Japanese Yen Scoping 150 Plus as US Dollar Consolidates. Higher USD/JPY?
The Japanese Yen has been sliding lower as Treasury yields outpace JGB yields to the upside, assisting the US Dollar to gain ground. If the BoJ tilt policy, will USD/JPY make new highs?
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US Dollar Setups: EUR/USD Battles Channel Resistance while USD/JPY Stays Put
This article takes a detailed look at EUR/USD and USD/JPY’s prospects, analyzing important technical levels that may come into play and trigger notable price responses in the days ahead.
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S&P 500 Extends Slide on Heightened Volatility as Iraqi Air Base is Attacked
The S&P 500 failed to hold onto early US session gains as market participants weighed comments from Fed Chair Powell and the possibility of escalation in the Middle East following Iraqi air base attack. Is the S&P on course for a return to the 4000 mark?
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Gold Price Forecast: Geopolitics Steal Show from Yields as XAU/USD Eyes Breakout
This article delves into the near-term outlook for gold prices, assessing how geopolitical and technical factors may influence the path of the precious metal.
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Wednesday, 18 October 2023
US Indices Ahead of Powell; S&P 500 & Nasdaq Price Setups
US equity indices will be looking for cues from Powell who is scheduled to speak later Thursday. S&P 500 and Nasdaq have retreated from key resistance. Is the rebound over?
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Australian Dollar Drops on Mixed Jobs Data Ahead of CPI. Where to for AUD/USD?
The Australian Dollar slipped lower after employment data today revealed a tighten unemployment rate assisted by a lower participation rate. The RBA is now the focal point.
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Euro Forecast: EUR/USD Hindered by Resistance, EUR/AUD Still in Bullish Trend
This article takes a detailed look at EUR/USD and EUR/AUD’s prospects, incorporating insights from fundamental and technical analysis to ensure traders are well-prepared for the days ahead.
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Gold (XAU/USD) Hits $1950/oz on Risk Aversion as Middle East Tensions Intensify
Gold has been the biggest beneficiary from the tension in the Middle East which seems to have reignited the precious metals safe-haven appeal. Where to from here?
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Tuesday, 17 October 2023
Australia Dollar Jumps After China GDP Beat; What’s Next for AUD/USD?
AUD/USD jumped after the Chinese economy grew more than expected in the July-September quarter. What is the outlook and the key levels to watch in AUD/USD?
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Gold Price Hangs Tough as Treasury Yields Surge and US Dollar Firms. Higher XAU/USD?
The gold price remains buoyant on flight to safety flows from geopolitical concerns, but the macroeconomic picture is going in the other direction. Will XAU/USD maintain its strength?
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Australian Dollar Forecast: AUD/USD Extends Recovery but Outlook Remains Murky
This article takes a close look at AUD/USD, offering an analysis that considers both its technical and fundamental components, and underscores the critical drivers that FX traders should watch in the near term.
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S&P 500, NAS 100 Experience Choppy Price Action as Treasuries Rise, More Earnings Ahead
US Indices struggle on rising US Yields even though earnings remain upbeat. Where to Next?
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Monday, 16 October 2023
Is the Worst Over for Gold/Silver? XAU/USD, XAG/USD Price Setups
Escalating tensions in the Middle East have boosted precious metals. Does this mean the worst over for gold and silver? Find out what is the outlook and what are the key levels to watch.
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New Zealand Dollar Falls After Inflation Data, but NZD/USD Remains Above Key Support
The New Zealand Dollar weakened after local inflation data cooled hawkish RBNZ policy expectations. Even so, NZD/USD remains above key support with a neutral near-term technical bias.
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Australian Dollar Forecast: AUD/USD Rallies Off Support but Trend Remains Bearish
This article provides an exhaustive examination of AUD/USD, analyzing geopolitical tensions in the Middle East and scrutinizing important price levels worth watching in the coming days.
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USD/CAD Slides as Oil Surprisingly Follows Suit on Potential US-Venezuela Oil Deal
USDCAD slides with Oil following suit on news of US-Venezuela deal. Will Canadian inflation rise once more adding further pressure on the Bank of Canada (BoC)?
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XAU/USD Price Forecast: Tempered Start for Gold
Gold prices moderated after last week’s push higher but a close eye will be on the ongoing Israel-Palestine war alongside US specific factors.
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Sunday, 15 October 2023
Crude Oil Steadies After Leaping Higher on Middle East Conflict. Higher WTI?
The crude oil price reflects the uncertainty for energy supply going forward and the potential for supply disruptions. The US Dollar movements are also dominating markets. Where to for WTI?
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HK/China Equities Search for Upward Momentum: Hang Seng, CSI 300 Setups
The Hang Seng Index’s rebound early last week ran out of steam toward the end of the week, suggesting that a meaningful upward momentum is lacking in Hong Kong/China equities despite the support/stimulus measures in recent months.
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Australian Dollar Bumps Up but US Dollar Moves Might be Key. Will AUD/USD Rally?
The Australian Dollar nudged higher to start the week with the US Dollar easing a touch as markets assess elevated Treasury yields and a Middle East conflict. Where to for AUD/USD.
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Markets Week Ahead: Gold, Crude Oil, Geopolitical Tensions, US Dollar, Fed, China GDP
Gold prices soared in the best week since the middle of March, crude oil also outperformed amid geopolitical volatility. Ahead, all eyes are on a speech from Jerome Powell and Chinese GDP data. What else is in store for markets ahead?
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Saturday, 14 October 2023
EUR/USD Weekly Forecast: Euro Weaker on Geopolitics & US Inflationary Pressures
EUR/USD prices are subdued as risk aversion takes hold and favors the more defensive USD. Euro traders now look to US retail sales and eurozone inflation this week.
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Friday, 13 October 2023
FTSE 100, DAX 40 and S&P 500 Capped by Key Resistance on Uptick in US inflation
Outlook on FTSE 100, DAX 40 and S&P 500 as US CPI comes in slightly higher-than-expected.
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Cable at the Mercy of the Dollar, UK jobs and Inflation Data Next
Employment and CPI data next week can place the pound back into the driving seat after USD data directed the GBP/USD relief rally
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US Dollar Post-CPI Rally May Reverse, EUR/USD Creeping Higher
The US dollar rallied sharply Thursday after a marginally higher-than-expected US inflation reading was released. Is a 0.1% miss on US headline CPI data that bad?
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Thursday, 12 October 2023
Is the Rebound in Crude Oil Over? Natural Gas Holds Gains After Bullish Break
Crude oil’s recent sharp retreat raises the question if the rebound that started in September is over. Find out what is does the retreat mean in the context of the wider trend. Natural gas appears to be holding gains following the recent bullish break.
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US Dollar Technical Setups: AUD/USD Plummets While USD/CAD Skyrockets
This article provides an exhaustive technical examination of USD/CAD and AUD/USD, analyzing significant price levels that may act as resistance or support in the upcoming trading sessions.
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UK Breaking News: Monthly GDP Returns to Growth in August, GBP Lower
UK GDP in August showed a recovery from July, posting a 0.2% increase on last month. July’s monthly contraction was revised lower from -0.5% to -0.6%
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Wednesday, 11 October 2023
Crude Oil Gaps Lower as Stockpiles Build and Fed in Focus Ahead of US CPI. Lower WTI?
Crude oil gave up recent gains going into today’s session on API data and a US Dollar that might be at a crossroads with Fed Speakers and FOMC minutes less hawkish. Where to for WTI?
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Is Euro’s Downtrend Over? EUR/USD, EUR/AUD, EUR/NZD Price Setups
The euro appears to have garnered some cushion for now, thanks to the apparent shift in Fed rhetoric. The question then comes up is this a game changer for EUR/USD? What about EUR/AUD and EUR/NZD?
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US Dollar Slides on Fed Tilt but CPI Fears Linger. Will Treasury Yields Go Lower?
The US Dollar has been losing ground this week as the market ponders the outlook for the Federal Reserve after less hawkish commentary and FOMC minutes. Will USD sink further?
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Crude Oil Price Forecast: Bears Reload but Energy Market Outlook Stays Positive
The attack on Israel has the potential to lead to upward pressure on oil prices in the near term, especially if irrefutable evidence surfaces linking Iran to the acts of terrorism witnessed over the past weekend.
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USD/CAD Looks Set to Arrest 4-Day Slump, Finding Support at the 20-Day MA
USD/CAD on course to snap a four-day losing streak ahead of US inflation data. Will US Inflation provide fresh impetus for the DXY with another increase or is a drop on the cards?
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Tuesday, 10 October 2023
British Pound Ahead of US CPI: GBP/USD, EUR/GBP, GBP/AUD Price Setups
After weeks of losses, GBP is attempting to rebound as Fed rate hike expectations scale back ahead of the key US inflation and UK GDP data. What is the trend in GBP/USD, EUR/GBP and GBP/AUD?
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Australian Dollar Pauses as US Dollar Sinks on a Dovish Fed. Will AUD/USD Reverse?
The Australian Dollar might be at a crossroads after more Fed commentary reiterated the case for a less hawkish stance. Equity markets got a boost, but uncertainty lingers. Lower AUD/USD?
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Japanese Yen Aided by Fed Pause View, Geopolitics; USD/JPY, GBP/JPY, AUD/JPY
Dovish comments from Fed officials coupled with the violence in Israel and Gaza have put a lid on US Treasury yields, boosting JPY. What is the outlook and what are the key levels to watch in USD/JPY, AUD/JPY and GBP/JPY?
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US Dollar Faces Reversal Risk Ahead of Inflation Report as DXY Breaks Key Trendline
The US Dollar is not off to a great start this week so far ahead of the highly anticipated inflation report. Will CPI data add further fuel to what appears to be a brewing reversal unfolding in DXY?
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Australian Dollar Forecast: AUD/USD Takes on Trendline Resistance. What’s Next?
This article focuses on AUD/USD’s near-term outlook from a technical standpoint, dissecting vital price levels that might function as resistance or support in the coming trading sessions.
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Bitcoin Faces Death Cross as XRP Fails to Capitalize on Appeal Ruling
Bitcoin and Ripple both under selling pressure despite the positive news on multiple fronts for Ripple. Is XRPUSD destined to return to its YTD low?
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Dow, Nasdaq 100 and Nikkei 225 March Higher
Indices have extended their rebound from last week’s lows, and enjoyed a strong session on Monday. Further gains seem likely as the positive seasonality of the fourth quarter begins to take hold.
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USD/JPY Price Outlook: Yen Fails to Capitalise on Safe-Haven Appeal
The war in the Middle East prompted a wider flight towards traditional safe-haven assets like gold and US Treasuries but there has been little impact on the yen
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Monday, 9 October 2023
Euro Holds Ground as US Dollar Faces Headwinds on a Dovish Fed. Higher EUR/USD?
The Euro is little changed today despite the US Dollar sliding after Federal Reserve speakers stoked a less hawkish path citing higher Treasury yields. Where to for EUR/USD?
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S&P 500 & Nasdaq Rebound from Key Support; How Much More Upside?
Despite the escalation in geopolitical tensions, US indices have rebounded from key support after an apparent dovish shift by Fed officials. However, rising US real yields/cost of borrowing pose constraints on the upside.
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Gold Price Rallies as US Dollar Slips and Volatility Ticks Up. Higher XAU/USD?
The gold price leapt higher again overnight as the markets contemplate the ramifications of increasing conflict in the Middle East and a US Dollar under pressure. Will XAU/USD gain further?
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Crude Oil Price Surge in Focus After Hamas Attacked Israel, Retail Bets Remain Bullish
Crude oil prices gapped and finished Monday 4.35% higher after Hamas’s attack on Israel generated potential supply disruption woes. Retail bets remain net-long. What are key levels to watch?
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Dollar Index (DXY) Retreats Helping USD/JPY Tick Lower, 145.00 Incoming?
USD/JPY Continues to edge lower as last week's bond buying spree from the BoJ appears to have run its course. Are we finally in for a retracement?
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OPEC Raises Demand Forecast as Middle East Tensions Boost WTI/Oil Prices, What Now?
Oil prices have risen on concerns of supply disruptions as tensions in the Middle East continue to roil markets. Is an Oil Embargo akin to 1973 a possibility?
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Gold (XAU/USD) Jumps on Safe Haven Bid as Middle East Conflict Intensifies
Gold is being pushed higher, boosted by a strong safe haven bid, after the surprise Hamas attack on Israel over the weekend.
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FTSE 100, DAX 40 and S&P 500 Gap Lower on Middle East Conflict
Outlook on FTSE 100, DAX 40 and S&P 500 as military conflict plagues Israel and the Gaza strip 50 years after the fourth Israel-Arab war.
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GBP/USD Price Forecast: Souring Risk Sentiment Shackles Pound
The pound trades on the backfoot as safe haven demand sees the USD bid as tensions in the Middle East rise. UK GDP and US CPI inf focus later this week.
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Crude Oil Reverses Recent Losses as Markets Recalibrate after Israeli Invasion
WTI crude oil ran higher today along with the US Dollar as markets contemplate the consequences of the hostilities toward Israel over the weekend. Will it drive WTI higher?
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Sunday, 8 October 2023
Australian Dollar Dips as US Dollar Rallies After Israel Attack. Lower AUD/USD?
The Australian Dollar slipped to start this week after the US Dollar bounced on haven status and higher Treasury yields and bond spreads might impact further. Will AUD/USD?
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Market Q4 Outlook: Gold, Oil, Stocks, US Dollar, Euro, Pound, Yen, BTC at Tipping Point
Different market dynamics are poised to unfold in the near term, potentially paving the way for increased volatility and attractive trading setups in major assets. This article presents a comprehensive collection of Q4 forecasts.
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US Equities Technical Outlook: Range-Bound with Downside Potential
The equity selloff the end of Q3 places the major US indices at a crucial level of support. Failure of support with sustained momentum leaves stocks open to further downside
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Crude Oil Prices Might Have Ran Too Far in Q3 Amid a Deteriorating China Outlook
Crude oil prices might have run too far in the third quarter, setting the stage for potential disappointment amid deteriorating economic conditions in China.
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Saturday, 7 October 2023
US Dollar – Is The Rally Coming To An End?
The US dollar has been a one-way trade since the middle of July, rallying in excess of 6% since printing a 99.49 low.
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Oil Fundamental Forecast: Can Q4 Sustain Oil Gains?
Q4 crude oil outlook focused on OPEC+, monetary policy and global economic growth conditions.
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The Range Trade is Alive and Well as Markets Ponder Central Bank Rate Strike
Range Trading Unfolds as Several Major Global Central Banks May Have Put the Cue Back in the Rack on Rate Rises.
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Friday, 6 October 2023
Australian Dollar Q4 Forecast: AUD Vulnerable as Headwinds Stack up
The Australian dollar has sold off in 2H with further frailties ahead. AUD/USD threatens to breakdown while AUD/JPY gears up for a reversal at major resistance
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Short USD/JPY: A Reprieve in the DXY Rally and FX Intervention by the BoJ
The USD/JPY has held the high ground for the majority of Q3 with rallies to the downside proving short lived at this stage. The potential for a downside move however remains in play and with the right fundamental developments
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September Jobs Report: Payrolls at 336,000; Gold and US Dollar Go Their Own Way
The U.S. employers created 336,000 jobs in September versus 170,000 expected, indicating that the labor market remains dynamic despite multi-year high interest rates – a positive sign for the economy.
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USD/ZAR Price Forecast: Rand Looks to NFP’s for Guidance
Rand prices strengthened in early trade but cautiously await the NFP report as a gauge to what the Fed may do regarding their interest rate cycle.
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EUR/USD Price Outlook: NFP to Revive EURUSD Downtrend?
US Treasury yields and a strong dollar have eased ahead of NFP, allowing EUR/USD a period of respite from the sustained selloff
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FTSE 100, S&P 500 and Russell 2000 Hover Above Support Ahead of US NFP
Outlook on FTSE 100, S&P 500 and Russell 2000 ahead of Friday’s key Non-Farm Payrolls data release.
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Japanese Yen Latest: NFPs to Send USD/JPY Lower or Will the BoJ Need to Intervene?
Bank of Japan officials will be watching today’s NFP report with interest to see the reaction of the US dollar. Another leg higher for the greenback may force the Japanese central bank into the market.
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Thursday, 5 October 2023
Gold and Silver Latest Outlooks – Treading Water as US Jobs Report (NFP) Looms Large
Both gold and silver look vulnerable to further losses but Friday’s US Job Report will decide the precious metal’s short-term fates
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Oil Price Update: Brent, WTI Prices Plunge after Weaker US Demand
US demand for gasoline has dropped, resulting in stock builds. Early indications of fragility are showing in the US after yesterday’s PMI report revealed a drop in new orders
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Dow and Dax Fail to Extend Wednesday’s Bounce, but Nasdaq 100 Holds above Support
The Dow and Dax saw a rally off their lows yesterday, but so far have not been able to continue this move, but the Nasdaq 100 has held support for a second time in a week
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AUD Price Forecast: Signs of Weaker US Jobs Market Aid Aussie Dollar
AUD prices were bid on Thursday morning after US Treasury yields fell post-ADP and ISM services PMI data.
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Wednesday, 4 October 2023
US Dollar Showing Tentative Signs of Fatigue: EUR/USD, GBP/USD, USD/JPY
Developments on the technical charts indicate that the USD’s rally is beginning to show tentative signs of fatigue, pointing to a minor pause in the near term. What is the outlook for EUR/USD, GBP/USD, and USD/JPY?
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Asia Day Ahead: STI at Key Support, Natural Gas Touches Eight-Month High
Slowing growth in the US services sector and a significantly lower-than-expected US private payroll data paved the way for some cooling in the US Treasury yields rally.
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British Pound (GBP) Latest: GBP/USD Boosted by PMI Beat, Can It Hold?
Sterling is picking itself up from multi-month lows against the US dollar, buoyed by a better-than-expected S&P services report and weak US ADP data.
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Euro Price Setups after PMI, FX Intervention? EUR/USD, EUR/GBP, EUR/JPY
The euro continues to slide despite rising Bund yields as PMI data hints at a German recession. FX markets are on edge after suspected intervention to bolster the yen
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Nikkei 225, FTSE 100 and S&P 500 Continue to Free Fall
Outlook on Nikkei 225, FTSE 100 and S&P 500 amid rising US yields, a strong greenback and tight US labour market.
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XAU/USD Price Forecast: Gold Dulls Further on Soaring Real Yields
Gold prices look to Fed speak & ISM services PMI for guidance and whether or not bears can take XAU/USD down towards the $1800/oz mark.
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Tuesday, 3 October 2023
Asia Day Ahead: USD/JPY Firm Despite Potential Intervention, NZD/USD at 3-Week Low
US Treasury yields continued with their ascent overnight, with the US 10-year yields at 4.8%. Aside, the VIX is at its four-month high, hovering just below its key 20 level.
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Australian Dollar Forecast: AUD/USD in Freefall as US Yields Vault to New Heights
In this article, we assess AUD/USD from a technical perspective, focusing on pivotal price levels and scrutinizing shifts in market positioning that can offer instructive hints about the pair's outlook.
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Euro (EUR) Latest: EUR/USD Losses Mount, EUR/GBP Rejects Resistance
The Euro remains under pressure against a formidable US dollar and may struggle to reclaim recent losses. EUR/GBP continues to range trade.
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Oil Price Outlook: Brent Crude, WTI Take a Breather as USD Surges
Oil prices pulled back from the yearly high, testing levels around the prior swing low. Will storage data reveal further drawdowns, potentially eyeing a bullish continuation?
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Signs of Strength in Nasdaq 100 but Dow and Dax Struggle to Make Progress
Indices suffered further losses on Monday but have recovered slightly today, with the Nasdaq 100 showing the way.
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GBP/USD Price Forecast: Pound Plunges Towards 1.20
The pound weakened against the USD after US Treasury yields rallied coupled with some hawkish Fed speak which will continue today.
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Monday, 2 October 2023
How Much More Downside in Gold/Silver? XAU/USD, XAG/USD Price Setups
Gold and silver have below their respective multi-week range, pointing to further losses in the near term amid rising US Treasury yields. How much downside and what are the key levels to watch?
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Australian Dollar Holds Losses After RBA Stands Pat; AUD/USD Tests Key Support
AUD held early losses after the RBA kept benchmark interest rates steady, in line with market expectations. What’s next for AUD/USD and AUD/NZD?
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Asia Day Ahead: RBA Rate Decision on Watch, AUD/NZD below key support
Another push higher in Treasury yields kept risk sentiments broadly in check, as the US 10-year yields surged to touch another new high since 2007.
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S&P 500 Under Threat from Soaring Yields, US dollar, Trendline Support in Play
This article presents a technical overview of the S&P 500, where we analyze its current price dynamics and identify key levels that could serve as either support or resistance in the coming trading sessions.
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Gold Latest - XAU/USD Slump Continues as US Bond Yields Remain Elevated
Gold losses persist with the precious metal printing yet another red candle with XAU/USD nearly $100 lower since last Monday
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Nikkei 225, FTSE 100 and S&P 500 Begin Q4 on a Cautious Note
Outlook on Nikkei 225, FTSE 100 and S&P 500 as the oil price, US yields and greenback remain at elevated levels.
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AUD Price Forecast: Aussie Dollar Slips on Weak PMI’s Ahead of RBA
AUD prices weakened against the USD on sluggish PMI data alongside a likely rate pause by the RBA at tomorrow’s interest rate announcement.
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Sunday, 1 October 2023
Bitcoin & Ethereum Jump: BTC/USD & ETH/USD Price Action
The break above minor resistance in Bitcoin and Ethereum has reduced some of the immediate downside risks. Can cryptocurrencies sustain gains? What is the outlook and what are the key levels to watch?
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Will the UK GDP-Led Bounce in the British Pound Last? GBP/USD, EUR/GBP, GBP/AUD
GBP managed to find some support toward the end of last week after the UK economy grew faster than expected. However, the support could turn out to be short-lived. What’s next for GBP/USD, EUR/GBP and GBP/AUD?
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Asia Day Ahead: China’s PMI Mixed, BOJ Minutes Well-Received by Nikkei
The softening in US August core PCE inflation failed to drive a sustained rebound in Wall Street last Friday. China and Hong Kong markets are closed today.
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Financial Markets in Q4: US Dollar, Euro, British Pound, Gold, Crude Oil, Stocks
The US Dollar outperformed in the third quarter as Treasury yields soared and gold prices weakened. Sentiment took a hit. What is the outlook for markets as 2023 comes to an end?
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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...