Wednesday, 6 November 2019

US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices - US Market Open

A rather lacklustre session thus far with major USD pairs trading in relatively tight ranges. Canadian Dollar underperforms on softer oil prices.

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Gold Technical Analysis: Gold Prices Fall to Range Support

Last week's USD-weakness brought a resistance test to Gold but, once again, buyers failed to take control of the matter. Gold price action is now back to range support.

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Brexit Briefing: UK Election Campaign Begins, EUR/GBP Support Critical

Prime Minister Boris Johnson will confirm officially today that a UK General Election will be held on December 12. For EUR/GBP traders, the key level to watch is support at 0.86.

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Euro Forecast: EUR/USD May Extend Decline After EU Data Print

The Euro’s decline vs the US Dollar may accelerate if Eurozone PMI and Germany factory orders data spooks regional investors and pressure the EUR/USD exchange rate.

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Tuesday, 5 November 2019

Crude Oil Prices Hit By Huge Inventory Build, More Stock Data Eyed

Crude oil prices have been blindsided once again by surprise inventory data out of the US, with the latest twist a shocking stock build.

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Gold Prices Stuck in October Range Following Upbeat ISM Survey

Developments coming out of the US may continue to influence the price of gold as Fed officials start to endorse a wait-and-see approach for monetary policy.

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Gold Price Prediction, AUD/USD Outlook Using Trader Positioning

Trader positioning hints that gold prices may turn lower while the US Dollar could weaken against the Australian Dollar. XAU/USD, AUD/USD face key psychological barriers though.

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Crude Oil Outlook: Brent Eyes Brazil Auction Amid Trade War Talks

Crude oil prices may rise if Brazil’s oil auction shows investors are feeling bullish on the commodity amid market-wide optimism over US-China trade talks despite OPEC’s gloomy outlook.

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Japanese Yen Outlook: Did the BoJ Just Admit Policy Failure?

How will the Japanese Yen respond as the Bank of Japan appears to begin walking back from years of assuring the markets that ‘powerful monetary easing’ would be enough to stoke inflation?

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AUD/USD Analysis: RBA Meeting Fails to Foster Break of October High

The monthly opening range for AUD/USD suggests the correction from the yearly low (0.6671) is nearing an end as the exchange rate pullbacks ahead of the October-high.

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US Dollar Price Volatility Report: FOMC Rate Cut Odds Plunge

The rebound in USD price action is gaining traction following solid economic data that has caused an unwinding of front-loaded FOMC rate cut bets, but the US Dollar still faces serious headwinds.

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Japanese Yen May Rise as the US Dollar Reversal Speeds Up in Asia

The US Dollar and Japanese Yen may rise during Asia trade as fading Fed rate cut bets offer a contrasting narrative to US-China trade deal hopes. The Australian Dollar is vulnerable.

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New Zealand Dollar Sinks on Worse than Expected Jobs Data

New Zealand Unemployment rate rises to 4.2% vs expectations of 4.1%

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Stock Market November Forecast: History Suggests Volatility is Overdue

A distinct lack of volatility last month, typically the most volatile month on the calendar, could see November attempt to compensate as stocks trade at record levels.

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Chinese Yuan Roars, USD/CNH Re-Tests 7.0000 on Trade Worries

The Chinese Yuan has put in a strong run, even negating this morning’s USD-strength as worries fester around upcoming US-China discussions.

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USD Spikes, Gold Sinks as ISM Services PMI Tops Estimates

The ISM Services/Non-Manufacturing PMI for October crossed the wires with a print of 54.7 vs estimates of 53.4 and prior reading of 52.6.

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US Dollar Gains, EUR/USD Suffers, AUD/USD at Potential Turning Point - US Market Open

AUD/USD outperforms on easing trade uncertainty; however, key resistance is ahead. US Dollar tracks yields higher, while EUR/USD cracks below 1.1000.

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US Dollar Prices Continue Support Bounce: USD/CHF, GBP/USD, AUD/USD

The US Dollar has continued to bounce after last week's test of two-month-lows, but the data has yet to begin and this morning's services ISM report looms.

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EUR/USD Price Technical Outlook - Further Upside Remains Blocked

The recent EUR/USD rally off its multi-month low continues to struggle to push through a longer-dated technical indicator that has capped its upside for the last four months.

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Gold Price Outlook Breaking Down - Is Bullish Momentum About to Crack?

Gold is struggling to move higher as the supportive fundamental backdrop begins to reverse. The recent technical breakout is struggling to follow through and gold may drift lower in the short-term.

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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...