The Japanese Yen slipped back a little despite more strong inflation numbers as the man set to take over at the Bank of Japan offered little prospect of major changes
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Friday, 24 February 2023
Euro Price Forecast: German GDP Dampens Strong EZ Data This Week, US Core PCE in Focus
EUR/USD eyes US core PCE later today which may test the lower bound of the developing falling wedge pattern should inflation prove sticky.
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Gold Price Forecast: Bulls Face a Challenge Ahead US PCE Data
Spot gold continues to struggle after printing a fresh 7-week low yesterday. Can the US PCE data provide a catalyst and reignite an upside rally?
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Thursday, 23 February 2023
Equities Outlook: Dow Jones, S&P and Nasdaq Lifted by Upbeat Earnings
The S&P 500 index, Dow Jones 30 and the Nasdaq 100 are attempting to reverse the recent slump after the FOMC minutes and Nvidia earnings helped lift sentiment.
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Crude Oil Update: Anticipated EIA Stock Build Favors Current Trading Range
Stock builds in the US and a stronger dollar may be offset by production cuts in Russia and the China reopening effect. However, rising rates raise concern over demand
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GBP/USD Wilts Toward Key Retracement As Rate Prospects Support USD
Economic fragility in the UK and the prospect of higher interest rates for longer in the US add up to a toxic mix for Sterling bulls
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EUR/USD on a Knife Edge as Eurozone Core Inflation Ticks Higher
EZ core inflation hits record in January with EURUSD surrendering the 1.0600 handle. Further downside looking ever more likely. 1.0500 incoming?
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AUD Price Forecast: Aussie at Key Inflection Point Post-FOMC
The Australian dollar is now testing the 0.68 handle but technical analysis could suggest a reversal to the upside for the AUD.
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Wednesday, 22 February 2023
US Dollar Slides After FOMC Boost as Hikes Get Baked in. Is There a New Trend for USD?
The US Dollar reclaimed the ascendency overnight before slipping today after the FOMC minutes confirmed the perception of upcoming hikes. Is the DXY (USD) Index starting a new trend?
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US Dollar Rallies as Fed Minutes Point to More Hikes amid Upside Inflation Risks
The U.S. dollar, as measured by the DXY index, extended session gains after FOMC minutes showed that policymakers continue to anticipate additional rate hikes to contain inflation.
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US Stock Equities Forecast: S$P 500, Nasdaq 100 Await FOMC Minutes
FOMC Minutes pose a risk for risk assets, will the Fed deliver an upside surprise? S&P 500, Nasdaq levels.
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European Equity Update: Strong Performers FTSE and DAX Head Lower
The DAX and mainly the FTSE have outperformed the largest indices since October 2022, however, signs of fatigue point to pullbacks in both benchmarks
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GBP/USD Latest: UK Data Empowers Sterling, FOMC Minutes Near
Sterling has more than held its own in the foreign exchange market this week, supported by better-than-expected economic data. Up next, the latest FOMC minutes.
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EUR/USD Susceptible to Further Losses Below the 1.0665 Level
EURUSD trickled lower following the European open with improving German Ifo data unable to entice Euro bulls. Can the FOMC minutes or improving sentiment arrest the slide?
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Japanese Yen Outlook: USD/JPY Probes 135 as BOJ Implements YCC
USD/JPY preps for the upcoming FOMC minutes after a BOJ focused morning.
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Tuesday, 21 February 2023
Euro Steadied the Ship Ahead of CPI as Treasury Yields Leap. Lower EUR/USD?
The Euro backed away from recent lows against a US Dollar seeking to reclaim the ascendency with higher Treasury yields underpinning it. Will EUR/USD break the range?
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Gold and Crude Oil Await Dollar Break for Their Own Commitment
Despite the traction ‘risk assets’ have exhibited for bears through Tuesday’s trading session, the US Dollar doesn’t seem to have caught its safe haven wind. That has thrown an unexpected curb on key developments for crude oil and gold which seem break prone but are principally USD-priced.
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Bitcoin Price Forecast: BTC, ETH Held Back by Technical Resistance
Bitcoin and Ethereum price action has been on a rampant rise since the beginning of the year. With psychological resistance back in play, can the trend hold?
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Euro Price Forecast: Fading Risk Sentiment Dampens EZ PMI & ZEW Data
EUR/USD slips on the back of political uncertainty despite positive eurozone PMI and economic sentiment data.
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Gold Price Latest: Crucial Level for Bearish Continuation Becomes Clearer
Gold has witnessed a marked decline since the appearance of the bear flag but recent consolidation poses questions around continued selling
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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 -...