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Friday, 6 January 2023

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.

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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

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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.

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Thursday, 5 January 2023

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.

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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?

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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.

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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.

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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.

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Wednesday, 4 January 2023

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?

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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.

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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

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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.

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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?

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Tuesday, 3 January 2023

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?

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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.

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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?

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