Friday, 21 April 2023

AUD/USD Weekly Forecast: Ominous Signs for Aussie Dollar

AUD/USD looks to a US dominated week while technical analysis favors more pain for the Aussie dollar.

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Sterling Price Outlook: Signs of Bullish Impetus Reverse Ahead of a Busy Week

Sterling showed some signs of promise earlier this week on the back of another stubbornly hot inflation number which dragged rate expectations higher. Momentum Fades

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EUR/USD Remains Listless Despite Improving Euro Area Business Activity

The latest Euro Area PMIs show business activity in the single block at an 11-month high, driven by an increasingly robust service sector.

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USD Price Forecast: Dollar Index (DXY) Bid on Fed Speak

The U.S. dollar looks towards additional Fed speak and US PMI data in what is a relatively lackluster economic trading day. DXY pushing 102.

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Thursday, 20 April 2023

Canadian Dollar Falls With Crude Oil Prices, Will USD/CAD Break Higher Next?

The Canadian Dollar continues to weaken alongside crude oil prices. USD/CAD is facing a key moving average, will it be able to, or will prices break higher?

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Gold Prices Fly as Treasury Yields Dive, S&P 500 at Risk of Breaking Down

Gold prices resume their advance, supported by falling US Treasury rates. Meanwhile, the S&P 500 fails to extinguish bearish pressure despite the move in bond markets, a sign bulls may be bailing.

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Euro Forecast - EUR/USD Rebounds as Trendline Support Holds Bears at Bay. What Now?

EUR/USD gains after a subdued performance on Wednesday, as prices encounter support at a key technical trendline, setting the stage for a modest rebound in the FX space.

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South African Rand Forecast: ZAR Bid on Sticky Inflation and Weaker USD

USD/ZAR has pushed off the 50-day moving average today as a weaker USD takes hold ahead of key US releases later today.

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EUR/USD Unchanged After ECB Minutes, Heavy Data Calendar Next Week

The single currency is barely changed after the release of the latest ECB minutes showed that a majority of members agreed with a 50bp rate hike, although others preferred to keep rates unchanged.

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Oil Price Forecast: WTI Enters Fourth Straight Day of Declines on Demand Concerns

A combination of relative dollar strength and tightening financial and credit conditions currently weigh on oil prices as global demand is brought into question

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XAU/USD Forecast: Fed Beige Book Provides Support for Gold Prices

Gold prices look to push back above the $2000 mark but could be hampered by Fed speakers later today.

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Wednesday, 19 April 2023

GBP/USD Capped by Cluster Resistance, USD/JPY Blasts Off after Bullish Breakout

GBP/USD rises, but bullish momentum wanes as prices approach cluster resistance. Meanwhile, USD/JPY extends its advance after clearing a key trendline late last week.

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Silver Price Forecast: XAG/USD Bullish Continuation Remains Constructive

The broader dollar downtrend combined with lower interest rate expectations continue to buoy non-interest-bearing commodities like silver

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FTSE, S&P 500 Latest: Inflation Concerns Weigh on Risk Appetite

UK CPI has led markets to anticipate a further 75 basis points of hikes to year end - weighing on the FTSE. Prominent Fed hawks have their say as S&P 500 finds resistance

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Gold (XAU/USD) Price Under Yield Pressure, Support Level Nears

The precious metal is testing near-term support as short-dated US Treasury yields press higher.

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Breaking News: UK Inflation Holds Above 10% for the 7th Consecutive Month

GBP/USD remained quietly cautious after elevated inflation data ‘hawkishly’ re-priced the BoE’s interest rate path.

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Tuesday, 18 April 2023

Gold Prices Gain as US Dollar Falls, Keep a Close Eye on Bearish Engulfing Follow-Through

Gold prices gained on Tuesday as the US Dollar fell. XAU/USD remains vulnerable to follow-through after a Bearish Engulfing emerged. How have retail traders changed their exposure?

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EUR/USD Bounces Off Confluence Support as Bulls Reemerge to Assert Market Control

EUR/USD pivots higher after two consecutive days of declines, with bulls swooping in to defend technical support and to spark a rebound off the psychological 1.0900 level.

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Gold Prices Gain as US Dollar Resumes Drop, XAU/USD Bounces off Channel Support

Gold regains ground after a subdued performance on Monday, with prices rebounding off channel support near the psychological $2000 level.

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Nasdaq 100 Update: US Stocks Gear up for Tech Earnings: Netflix, Tesla

Netflix and Tesla get the megacap tech stocks underway in the first earnings season of 2023. The Nasdaq has led other US indices as rate expectations and inflation ease

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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...