Wednesday, 29 March 2023

Crude Oil Prices Fall on Soft Fed Energy Report, Eyes on US Jobless Claims Next

Crude oil prices fell after a disappointing energy survey from the Federal Reserve. Over the remaining 24 hours, WTI remains vulnerable to a nasty surprise in US jobless claims.

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Japanese Yen Slips as US Dollar Recovers Along with Risk Assets. Where to for USD/JPY?

The Japanese Yen ran lower going into Thursday with fiscal year-end approaching and a generally buoyant mood for markets with banking issues subsiding for now. Will USD/JPY go higher?

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S&P 500 Attacks Trendline Resistance as Bulls Assert Control. Breakout Looming?

S&P 500 rallies and challenges a key technical resistance as market sentiment continues to improve amid easing concerns around the health of the U.S. banking sector.

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S&P 500, Nasdaq Set to Open Higher Upon an Improved Outlook

Markets appear satisfied, for now, that banking concerns have eased, making room for improved risk appetite. S&P 500 and the Nasdaq 100 are expected to open higher

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USD/JPY Moves Higher as the Japanese Yen Sheds its Risk Premium

USD/JPY is back above 132.00 for the first time in a week as bank contagion fears recede. Comments from Bank of Japan (BoJ) deputy governor Shinichi Uchida however may boost the Yen’s longer-term attraction

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EUR/USD Hands Back Some Gains, German CPI Data In Focus

A quiet European session for economic cues has seen the single currency slip back a little, but there’s plenty of trading life left in this week

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Tuesday, 28 March 2023

Oil Gains on Supply Disruption Risks but Headwinds Loom, Key Levels to Watch

Oil prices rise to their best level in two weeks on supply disruptions in the Middle East, but the technical outlook suggests that the recent rally may be short-lived.

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US Consumer Confidence Rebounds Unexpectedly, but Fails to Boost US dollar

The U.S. dollar retains a negative bias despite better-than-expected consumer confidence data, as traders remain focused on the U.S. banking sector woes and the possibility of a Fed pivot later this year.

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Gold Price Losing its Safe-Haven Shine, US Bond Yields Move Higher

Gold is losing some of its safe-haven premium as the recent banking turmoil continues to calm down. Risk may be back on the table but for how long?

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GBPUSD Gains Again, BoE Bailey Says Inflation Fight Comes First

The British Pound Continued its run as the BoE Governor said banking worries won’t stop rate rises

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EUR/USD Price Forecast: US and EU Banking Supervisors Provide Updates

With a sizeable downshift in high importance data this week, markets are left to assess respective rate differentials and comments from banking supervisors

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AUD/USD Rises on Positive Retail Sales Data, CPI Ahead

AUDUSD rallied into key resistance around the 0.6700 level. Will we see a break higher with momentum or are we in for another rejection?

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Monday, 27 March 2023

US Dollar (DXY) Subdued, Banks Gain, US Treasury Yields Move Higher

The US dollar is unchanged to start the US session after US bank First Citizen steps in to buy failed lender Silicon Valley Bank

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Crude Oil Outlook: Oil Prices Bounce off Support as Bank Jitters Ease

Crude oil has extended last week’s gains, pushing prices toward technical resistance. As bank jitters ease, oil has received a positive boost in sentiment.

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British Pound Latest: GBP/USD Squeezes Higher as Risk Sentiment Improves

A range of asset classes open the week with a mild risk-on bid after a takeover of failed lender SVB boosts market sentiment

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USD/JPY Bounce Looks Corrective, Lacks News Backing

The US Dollar made modest gains on the Japanese Yen but the Charts don’t look great for Dollar Bulls

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Gold Price Trickles Lower as Acceptance Above the $2000 Level Remains Elusive

Spot Gold continued to decline in European trade as sentiment shows modest improvement. Key risks still in play and could drive gold prices in the early part of the week.

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Sunday, 26 March 2023

US Dollar Slides as Banking Woes Continue and Treasury Yield Sink. Where to for USD?

The US Dollar dipped today as markets take stock of where the banking crisis is headed and Treasury yields search for direction. Will the USD reclaim the ascendency?

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Friday, 24 March 2023

US Dollar Outlook: Path of Least Resistance is Lower after Fed Ditches Hawkish View

The U.S. dollar is likely to come under selling pressure in the near term as markets price in rate cuts after Fed abandons hawkish guidance in order to preserve financial stability.

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Euro Dollar Outlook: EUR/USD Takes a Breather as Prices Test Support

The Euro has held its ground against the US Dollar, allowing prices to recover from February’s losses. Can EUR/USD break free from the current zone of support?

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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...