Thursday, 9 March 2023

US Dollar (DXY): Is This The Calm Before the NFP Storm?

The latest US Jobs Report (NFPs) will be released on Friday and a further confirmation of a robust jobs market will send the US dollar higher going into the weekend

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GBP/USD Price Forecast: Cable Enjoying a Bounce Ahead of UK GDP and NFP Data Releases

Cable is looking to recover some losses following Tuesday’s selloff with a weaker dollar index and a lack of high impact data likely to work in its favor.

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Euro Dollar Forecast: EUR/USD Turns Cautious as Traders Eye NFP’s

EUR/USD has fallen into another tight range after markets continued to digest Fed commentary and rate expectations. US NFP’s take center stage.

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AUD/USD Price Forecast: Australian Building Permits Hits 12-Month Low

The Australian dollar is still under immense pressure despite a marginal comeback as AUD/USD hovers around the 0.6585 swing low.

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Wednesday, 8 March 2023

USD/CAD Gains After Bank of Canada Holds Rates Steady, Retains Dovish Guidance

USD/CAD extends gains after Bank of Canada holds rates unchanged and keeps dovish guidance

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USD Price Action Setups: GBP/USD, USD/CAD, USD/CHF

A lot has changed in the last 24 hours as Powell opened the door to a 50 bps hike, sending US yields and the dollar higher. How are currencies shaping up in the aftermath?

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Gold Price Forecast: $1800 Back in Focus as Price Consolidates Following Selloff

Spot gold remains above the 100 and 200-day MAs despite yesterday’s selloff. $1800 holds the key for a change in the technical outlook.

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Euro Latest: Euro Area Growth Flatlines, EUR/USD Dancing to Powell’s Tune

The Euro Area recorded no growth in Q4, according to the latest Eurostat data, in line with analysts’ forecasts. EUR/USD unchanged after Tuesday’s Powell inspired heavy sell off.

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British Pound (GBP) Forecast: Fading Risk Sentiment Knocks Back Sterling

GBP/USD is at the mercy of US economic data carrying over from yesterday testimony by Fed Chair Jerome Powell.

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Tuesday, 7 March 2023

Crude Oil Prices Sink the Most in 2 Months, Eyes on Key Economic Data Next

Crude oil prices sank the most in 2 months after testimony from Fed Chair Jerome Powell. Ahead, WTI is eyeing DOE oil inventory data and JOLST job openings. Where to?

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Euro Update: EUR/USD Remains Supported Ahead of Fed Chair Powell’s Testimony

Hawkish rate expectation re-pricing is supporting the Euro ahead of Federal Reserve chair Jerome Powell’s appearance before US lawmakers, for now.

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GBP/USD Struggles to Hold on to Gains Despite Positive UK Housing Data

UK Halifax house price data rose for a second successive month. The initial optimism has since dissipated as early gains were surrendered following the European Open.

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New Bank of Japan Governor Likely Stuck with Kuroda’s Path

Alone among major central banks, the Bank of Japan has stuck to its ultra-loose monetary policy as inflation has risen. Will its new Governor shake things up?

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Monday, 6 March 2023

Gold Prices Eyeing Bearish Death Cross as Traders Await Jerome Powell

Gold prices fell on Monday as a jump in Treasury yields weighed on the yellow metal. A bearish Death Cross is in focus as traders await Fed Chair Jerome Powell’s testimony.

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Australian Dollar Slides After RBA's Widely Expected 25-Basis Point Hike

AUD/USD slides after the Reserve Bank of Australia hiked the cash rate by 25 basis points, in line with expectations. The focus now shifts to US Fed Chair Powell’s testimony later today and tomorrow. What’s next for AUD/USD?

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Euro Bounces on Hawkish ECB and Ahead Powell’s Testimony. Higher EUR/USD?

The Euro made some ground against the US Dollar on hawkish comments from ECB officials as the market awaits Fed Chair Powell’s commentary later today. Will EUR/USD trend remain intact?

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EUR/GBP Latest – Is a Fresh Multi-Month High Brewing?

Sterling may struggle against the Euro as ECB hawks continue to call for higher interest rates

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Bitcoin Price Outlook: BTC, ETH Trade Flat After Bouncing Off Support

Bitcoin and Ethereum have continued to trade sideways after recovering from Friday’s slide. BTC lingers around $22,500 while ETH eyes $1,600.

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Gold Prices Hold Steady Ahead of Fed Chair Powell and the Latest US Jobs Report

The recent rally in the precious metal has stalled as the week opens with traders looking ahead to a couple of important market moving events.

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EUR/USD Unchanged as Euro Area Retail Sales Tick Higher but Miss Estimates

Eurozone retail sales recorded a small increase in January which points to a weaker start to the year than expected as higher prices continue to weigh on consumers.

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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...