Thursday, 3 June 2021

USD/TRY Forecast: USD/TRY Record High, Volatility Rising on Policy Easing Risks

USD/TRY hits a fresh record high as risks of premature policy easing rises

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Russian Wealth Fund to Slash US Dollar Holdings to Zero - Reinvest in EUR, Gold, and Yuan

Russian Finance Minister says US dollar holdings in the country’s wealth fund will be cut to 0%

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FTSE 100 Stumbles as Updated Travel List Looms

European airlines struggle to keep bullish momentum as concerns grow regarding limited countries being added to the “green list”.

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EUR/GBP Price Outlook - Multi-Week Trading Range Coming Under Pressure

EUR/GBP continues to offer traders a well-defined trading range although support looks to be straining

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British Pound (GBP) Price Outlook: Ranges Hold Ahead of US Payrolls Data

Like most other markets, GBP/USD is trading in a tight range ahead of Friday’s US jobs report that will likely determine the next significant move in the pair.

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Crude Oil Prices Soar on Demand Hopes, US Inventories and Jobs Data Eyed

Crude oil prices soared to a 32-month high amid hopes for a post-Covid pickup in demand. EIA inventories data and Friday’s US jobs report are now in the spotlight.

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Wednesday, 2 June 2021

Gold Price Analysis: XAU/USD May Rise with Retail Trader Short Bets Ahead of NFPs

Gold prices climbed despite Fed’s Patrick Harker alluding to an eventual scale back of bond purchases. Ahead of NFPs this week, XAU/USD may rise as retail trader short bets accumulate.

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The CPI and Forex: How CPI Data Affects Currency Prices

Find out how to use the Consumer Price Index to make informed trading decisions.

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Natural Gas Forecast: Key Trendline in Focus as Strong Exports Provide Support

Natural gas is on track to record its second weekly price gain. Strong export figures have helped underpin prices and remain in focus, but short-term weather and inventory drivers may inject volati...

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Nasdaq 100 Defies Tapering Fears, Nikkei 225 and ASX 200 Trade Higher

The Nasdaq 100 index edged slightly higher despite a Fed official’s comment about tapering bond purchases. AMC soared 95% amid a retail trader frenzy. Asia Pacific markets opened mixed.

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AUD/USD Eyes Trade Data as Post-Australia GDP Move Fails at Technical Resistance

Asia Pacific markets may trade in calm waters as investors await the highly anticipated US NFP report. Meanwhile, AUD/USD may see a directional shift after trade data for May crosses the wires.

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Gold Forecast Bright on Weak USD; Silver Eyes Multi-Year High

Gold price action advanced for its fourth-week straight as silver soared to multi-year highs thanks to a stubbornly weak US Dollar. Will gold and silver prices rise further or will Fed hawks stymie...

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Bitcoin Price Awaits Catalyst as Speculative Mania Heads Elsewhere

Bitcoin trades between two major technical levels as price action slows and the speculative fervor that drove prior volatility shifts to other assets. As a result, Bitcoin may require a catalyst be...

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AUD/USD Susceptible to Defined Range Amid Failure to Test May Low

AUD/USD may continue to trade within a defined range amid the string of failed attempts to test the May low (0.7675).

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Trading the Digital Yuan: The first central bank-backed digital currency

The digital yuan (aka eCNY) is already being tested in mainland China, and the upcoming release of this new blockchain-enabled central bank digital currency (CBDC) is poised to further disrupt inte...

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USD/JPY Approaches May High as Fed Official Expects ‘Further Progress’

USD/JPY approaches the May high (110.20) as Fed Governor Lael Brainard anticipates to “see further progress in coming months.”

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Canadian Dollar Outlook: USD/CAD Rejects Support, CAD/JPY Path Higher

All eyes on the employment report to establish trends. USD/CAD fails to break 1.20 while oil prices soar.

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USD/ZAR Outlook: Record Unemployment Not Enough to Sway Rand

The Rand has taken fundamental knocks this week but USD/ZAR price action tells a different story. How long will this Rand remain resolute?

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Euro Outlook: EUR/USD, EUR/JPY Building on Bullish Support

Euro traders hold strong as focus is shifted to US NFP figures out on Friday

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Dogecoin (DOGE) Surges on Coinbase Pro Listing News, Elon Musk Tweets Approval

Dogecoin is up 25% in the last 24-hours after one of the world’s largest cryptocurrency exchanges, Coinbase, added the meme-inspired coin to its professional trading platform

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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...