The Japanese Yen is holding onto last week’s gains after a red-hot PPI number presents a dilemma for the Bank of Japan and its monetary policy posture. Is USD/JPY heading south?
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Sunday, 15 January 2023
Markets Week Ahead: S&P 500, Nasdaq 100, US Dollar, Gold, Japanese Yen, BoJ
The S&P 500, Nasdaq 100 and gold gained as the US Dollar fell after CPI data last week. Ahead, the Japanese Yen will be eyeing the BoJ. AUD/USD turns to Chinese GDP data. What else?
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Saturday, 14 January 2023
Japanese Yen Weekly Forecast: Optimism Around BoJ Shift Lifts JPY
The Japanese Yen enters the week on a positive note ahead of the highly anticipated BoJ rate decision that could bring about a change to a longstanding policy outlook.
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Friday, 13 January 2023
S&P 500 Toes Technical Cliff, Dollar Has Lost Half of its Rate Era Climb, Event Risk Uneven
Both the benchmark for global equities and the world’s most liquid currency registered meaningful progress this past week while still standing firmly in a shadow of doubt around commitment. On the cusp of ‘risk on’ breaks, how will holiday liquidity and an eclectic mix of top event risk steer conviction?
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Michigan Consumer Sentiment Beats Across the Board, US Dollar Unmoved
The US dollar is little changed after the release of the latest Uni of Michigan Consumer Sentiment report showed consumer sentiment picking up sharply.
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GBP/USD Gains On US Inflation, Surprise Sign of UK Growth
The Pound got some rare support from its domestic economy, but US Inflation is doing the heavy lifting here
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U.S Banks BAC, WFC and JPM Launch Earnings Season
Q4 earnings commenced with Bank of America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) all showing similar trends across financial metrics.
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Gold Outlook: XAU/USD Soars but Overbought Signals Flash Red
Gold has enjoyed a prolonged bullish run with little indication of a deep pullback until now. The yellow metal faces the next zone of resistance above 1900
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S&P 500, Nasdaq 100 Latest – Focus Now Turns to US Earnings Season
US equity markets have enjoyed a positive week on benign economic data. Ahead, the latest look at US corporate earnings may add a dose of volatility to a range of indices.
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Thursday, 12 January 2023
Dollar Breaks But S&P 500 Can’t Overcome 200-Day Average After CPI, Bank Earnings Ahead
US inflation continued its slide back towards earth, but the market struggled to muster a clear ‘risk appetite’ response. Whether the markets are starting to fully discount a steady CPI retreat or the report was just undermined by its ‘in-line’ print, we have another spark to push the S&P 500 ahead: bank earnings…
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Gold Prices Break Higher After US CPI Sank US Dollar, Where to for XAU/USD?
Gold prices roared higher after an in-line US CPI report sank the US Dollar and Treasury yields. XAU/USD broke higher, restoring momentum. Where to from here?
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US Dollar Price Action Setups post-CPI: EUR/USD, GBP/USD, USD/JPY
The US Dollar sold-off after an in-line CPI print, dropping down to a Fibonacci level and trendline for a support test.
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S&P 500 Post CPI Rally Muted by Technical Resistance
US CPI data for the month of December fell in-line with expectations in anticipation of bank earnings, providing an initial lift to S&P 500. Can SPX clear 4000 to move higher?
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CPI Breaking News: US Headline CPI 6.5%, Core at 5.7% - In line with Estimates
US inflation continues to ease as the December measures of core and headline inflation print in line with estimates. S&P shoots above 4000, DXY below 103
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EURUSD Bullish As Key US Inflation Data Approach
The Euro remains supported against the Dollar by interest rate forecasts as a key clue to that thesis approaches
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US Dollar (DXY) Treading Water as US CPI Data Nears, Volatility Subdued for Now
The US dollar remains under pressure ahead of the latest inflation report with markets pricing in a subdued reading. Will today’s CPI release confirm this optimism?
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XAU/USD Forecast: Gold Optimistic About Softening U.S. Inflation
Gold has been benefitted from the recent dollar selloff ahead of key US CPI data. XAU/USD currently tests the key $1880 handle.
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Wednesday, 11 January 2023
Can CPI Recharge VIX and Spark a True S&P 500 Trend?
We will soon trade anticipation for fundamentally-driven action. The CPI release is due before the US open, and traders are clearly well-aware of the indicator’s recent history of invoking volatility. Will this release resolve our lack of trend and persistent volatility crush or will the attention turn immediately to bank earnings?
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Crude Oil Posts Biggest Rally Since November 4 with CPI Volatility Ahead
US-based crude oil futures rallied a healthy 3.3 percent this past session against a backdrop of measures ‘risk appetite’. The chart for capital markets assets connects more readily to hope for a quicker downshift in inflation and pressure for the Fed to drop rates, but can crude oil draw the same connections?
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EUR/GBP Forecast: Euro Takes Centre Stage Via ECB Speakers
The EUR/GBP currency pair is trading higher this Wednesday on the back of hawkish ECB officials in preparation for key economic data later in the week.
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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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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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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 -...