Monday, 24 April 2023

Canadian Dollar Outlook: USD/CAD Eyes Fib Resistance as Bulls Regain Upper Hand

USD/CAD’s technical signals have turned more positive after the pair recaptured its 200-day simple moving average and overtook a key rising trendline in play since June of last year.

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Gold Gains as Yields Sink, Nasdaq 100 Forges Double Top ahead of Key Tech Earnings

Gold prices rise Monday amid falling U.S. Treasury yields. Meanwhile, the Nasdaq 100 trades lower ahead of key corporate earnings, with the tech index carving out a bearish double-top pattern.

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Oil Selloff Finds Support as the Reality of a Tighter Oil Market Takes Hold

Oil’s sudden selloff appears to be finding support before bridging the gap left by OPEC after its surprise announcement of further supply cuts. WTI and Brent consolidate

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EUR/USD Price Forecast: Acceptance Above the 1.1000 Handle Remains Crucial

EURUSD continues to display indecisiveness as German Ifo data comes in mixed. As consolidation continues can US data and ECB policymakers’ rhetoric inspire a breakout?

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US Dollar (DXY) Little Changed Ahead of Weighty Economic Data

The US dollar remains stuck in a tight range, but this is expected to change during the week as heavyweight US data hits the screens.

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GBP/USD Price Forecast: Steady Pound Faces Big Data Week

GBP/USD patiently awaits upcoming US economic data this week after markets ramped up their bets on BoE rate hikes this year.

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Sunday, 23 April 2023

Markets Week Ahead: Gold, Nasdaq, US Dollar; Earnings, US PCE, Euro Area and US GDP

The US dollar rose slightly while global equity markets ended largely flat in the past week as a positive start to the earnings season has been overshadowed by concerns that central banks may not be done with tightening just yet. Key focus on a raft of earnings in the coming week. Plus, US and Euro area Q1 GDP, US core PCE index, Australia Q1 inflation, and the Bank of Japan interest rate decision.

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S&P 500 Week Ahead Forecast: MSFT, GOOGL, AMZN and META Earnings to Guide Markets

The near-term outlook for the S&P 500 hinges on quarterly earnings and guidance from megacap tech. Key companies expected to announce results next week are Microsoft, Alphabet, Amazon & Meta

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Saturday, 22 April 2023

British Pound Weekly Outlook: Is GBP/USD Ready to Break Higher?

The British pound’s rally against the US dollar has stalled recently, and chances are that the consolidation could continue a while longer before it embarks on a new leg higher. What are the key levels to watch?

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Euro Week Ahead: Will Heavyweight Data Breathe Life Back Into a Lethargic EUR/USD?

EUR/USD volatility is at a two-month low with the pair stuck in a 90 pip range this week. Next week’s data releases look set to challenge this range.

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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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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...