BoE policy left unchanged, while signalling that they do not intend to take rates negatives in foreseeable future.
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Thursday, 4 February 2021
Currency Volatility - US Dollar Gains, EUR/USD Cracks, USD/JPY Breakout
Currency volatility remains subdued, USD grinds higher, Euro breaks 1.20 and USD/JPY eyes 200DMA
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Gold and Silver Slammed Lower as the US Dollar Flexes its Muscles
Gold and silver are both firmly in the red today, and look set to fall further, as the US dollar continues to move higher on rising US Treasury yields.
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GBP/USD Breaking Lower, Lift Likely if Bank of England Rules Out NIRP
GBP/USD has broken downwards from a rising channel on the charts, suggesting further losses. However, a rally is possible if BoE Governor Bailey rules out negative interest rates in the UK.
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Find Your Forex Entry Point: 3 Entry Strategies To Try
Deciding when to enter a trade can be complex because of the many variable inputs that move the forex market.
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Wednesday, 3 February 2021
British Pound Outlook: EUR/GBP Testing Support with BoE Meeting on Tap
The upcoming Bank of England’s monetary policy meeting will likely determine the British Pound’s medium-term trajectory, with policymakers expected to address the possibility of negative rates.
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Crude Oil Surges as Economic Recovery Aids Outlook, Copper Faces Technical Hurdle
Crude oil prices surged higher after inventory figures and OPEC+ developments underpinned the fundamental backdrop for commodities. Meanwhile, copper faces a bearish Descending Triangle.
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Dow Jones, ASX 200, Nikkei 225 Forecast: Jobless Claims, Stimulus in Focus
Asia-Pacific stocks are poised for a mixed open as a rally in US equities cooled. President Joe Biden’s 1.9 trillion Covid-relief package, labour market conditions and a steepening Treasury yield c...
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Australian Dollar Outlook: AUD/USD Eyes Trade Data - Rebound or Breakdown?
Wall Street held onto recent gains as rising oil prices boosted the energy sector. Meanwhile, the Australian Dollar is eyeing December trade data for its next move.
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USD Price Outlook: US Dollar Strength to Ebb as VIX Index Falls
The US Dollar is flirting with eight-week highs following an infux of strength across USD price action, but can bulls sustain the bid as risk appetite improves and the VIX 'fear-gauge' spikes lower?
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Bitcoin Price Forecast: Did Elon Musk Materially Alter Bitcoin's Outlook?
Bitcoin may have rallied briefly after Elon Musk mentioned the cryptocurrency on Twitter, but did the short-lived surge materially alter the longer term forecast? It may have.
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EUR/USD Outlook: Break of January Range Keeps Bearish RSI Trend Intact
EUR/USD may face a further decline as it out the January low (1.2054), while the Relative Strength Index (RSI) still tracks the downward trend carried over from December.
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Gold Price Forecast: XAU Tests Key Support - Could Gold Break Down?
A relatively calm range has developed in Gold prices. But with the bullish trend on hold for six months now, and sellers pushing more aggressively, might a breakdown be on the way?
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FTSE 100 Forecast: Have Recent Losses Upended the Bullish Outlook?
The FTSE 100 suffered losses over the last few weeks, sending the index beneath key support and erasing weeks of hard-fought gains. Can the index recover and continue higher?
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January ISM Services PMI Rises to Pandemic High, USD Strength Continues
The ISM Services PMI for January hit a new high amidst the pandemic at 58.7 versus a forecast of 56.8, marking a solid month for the service sector despite the headwinds.
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USD/CAD Rate Tracks Weekly Range Ahead of Canada Employment Report
USD/CAD may trade in a defined range ahead of the update to Canada’s Employment report as it reverses ahead of the weekly low (1.2761).
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GBP Volatility Rises Ahead of BoE, Crude Oil Soaring, NZD Outperforms - US Market Open
NZD outperforming, crude oil prices at fresh multi-month highs. BoE risk for GBP seen in options market..
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EUR/USD Remains Weak as US Data, Non-Farm Payrolls Loom Large
Heavyweight US data and the latest US Labor report will guide EUR/USD in the short-term with the pair currently struggling to keep above 1.2000.
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Australian Dollar Outlook Remains Weak vs New Zealand Dollar: RBNZ to Mull QE Taper?
A firm recovery in the NZ economy may prompt the RBNZ to mull QE tapering.
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Natural Gas Outlook: EIA Storage to Shed Light on Chinese Imports of LNG
The historical volatile nature of Natural Gas has continued this week as prices popped after cold weather data but will LNG continue to rise with weekly storage data scheduled tomorrow?
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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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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...
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British Pound (GBP) Latest: GBP/USD Nudges Higher, FTSE 100 Picks-Up as President Trump Takes ActionThe British Pound is registering small opening gains and the FTSE 100 is nudging higher after US President Trump announced new COVID-19 aid ...