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Monday, 9 January 2023

US Dollar Sinks to Support After PMIs: CPI Data Ahead

The US Dollar is moving down to a fresh low, fast approaching a spot of confluent support around the 103 handle on DXY.

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Gold, Silver Technical Forecast: Gold's Rapid Rise Meets Resistance, Silver Cools

Gold and silver enjoyed months of price appreciation as the USD selloff took shape. Silver appears to be cooling faster although, XAU/USD faces stern resistance at 1875

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British Pound Update: GBP/USD Rallies on US Dollar Weakness

Cable is continuing to push higher this morning with the move driven by ongoing weakness in the US dollar after Friday’s woeful US ISM data.

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EUR/USD Forecast: Softening U.S. Inflation Potential Pillars Euro

The EUR/USD has benefited from the recent dollar sell-off ahead of the highly anticipated U.S. CPI print later this week.

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Sunday, 8 January 2023

Australian Dollar Leaps Despite Weak Data as the US Dollar Slides. Higher AUD/USD?

The Australian Dollar motored higher with the US Dollar giving up ground on the back of conjecture that the Federal Reserve might have wriggle room on looming hikes. Where to for EUR/USD?

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Crude Oil Price Steadies the Ship Despite the Fed Staying on Course. Where to for WTI?

Crude oil has made some ground today after a wild ride last week that saw large declines with the Federal Reserve set to make the hard decisions to slow the economy. Will WTI rebound?

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Markets Week Ahead: Dow Jones, S&P 500, US Dollar, Gold, British Pound, US CPI

The Dow Jones and S&P 500 gained as softer US economic data cooled the US Dollar, pushing gold prices higher. Ahead, all eyes turn to US CPI and UK GDP figures.

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Gold Fundamental Price Outlook: XAU/USD Primed for the Next Leg Higher

The precious metal continues to be in the thrall of US rate expectations and with yields starting to reverse lower from their recent elevated levels, gold may soon attempt to make a fresh multi-month high.

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Saturday, 7 January 2023

USD Weekly Outlook: Dollar Index (DXY) Eyes U.S. CPI

The U.S. dollar starts the week under pressure but may find some respite from U.S. CPI should actual figures exceed forecasts.

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Friday, 6 January 2023

Australian Dollar Outlook: Volatility Kicks in for 2023

The Australian Dollar had a bumpy ride into the new year with Chinese policy adjustments and US Dollar fluctuations running amok. Will AUD/USD find its own path?

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USD/ZAR Outlook: Dollar Remains Dominant Driver of Rand Post NFP

The South African Rand has remained resilient despite a resurgence or Dollar strength which drove USD/ZAR back above 17.00.

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US Dollar Breaking News: US NFPs +223K, Unemployment Rate Drops to 3.5%

The latest US NFP report beat market expectations, +223k vs. +200k expectations, the unemployment rate fell to 3.5% from 3.7%, but hourly earnings fell.

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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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