Gold Wavers Ahead of Big Data Week, Fed and Jobs Report Eyed for Market Cues

Gold prices were subdued on Friday, but market moves were limited, with many traders sitting on the sidelines and avoiding taking large directional positions ahead of major events next week

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US Core and Headline Inflation Diverge, Employment Costs Rise, US Dollar Nudges Higher.

Core inflationary pressures in the US remain elevated, while headline inflation continues to fall. While the latter will please the Fed, it may not be enough to stop US rates being hiked again next week.

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USD/JPY Price Forecast: Dovish BoJ Inspires USD/JPY Rally, 200-Day MA in Sight

USD/JPY is facing some technical challenges following a 250-odd pip rally. Time for a retracement or bullish continuation?

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EU Breaking News: German Economy Stagnates, EU GDP Grows Marginally

The German economy failed to grow in the first quarter of 2023 but also narrowly avoided a contraction, Euro Area registered a minor gain. Euro and DAX head lower

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AUD/USD Price Forecast: New 2023 Low for Aussie dollar?

AUD/USD is on the backfoot this morning after housing credit remained subdued. The Aussie dollar now looks ahead to US core PCE and consumer sentiment for guidance.

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Amazon Soars on Upbeat Earnings, S&P 500 Futures Add to Gains as Big Tech Delivers

Amazon’s financial results beat expectations, with both EPS and revenue clocking in above estimates. Shares of the e-commerce company soar after the earnings announcement.

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Nasdaq 100 Blasts Higher as Meta’s Earnings Boost Tech, Apple in Focus Next Week

The Nasdaq 100 rallies on Thursday as solid earnings from Meta Platforms boost sentiment on Wall Street, lifting tech stocks. Apple’s quarterly results will steal the limelight next week.

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GBP/USD Price Outlook: Cable Struggling for Bullish Continuation

GBP/USD edged towards the recent peak but bullish momentum appears to be waning ahead of a period of high importance US data including PCE data and the FOMC meeting

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US Q1 Growth (GDP) Disappoints, US Dollar Nudges Higher Post-Release

The US economy expanded by much less than expected in Q1 2023 while prices continue to rise, leaving the Fed with plenty to think about ahead of next week’s FOMC meeting.

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Japanese Yen Price Action Setups: AUD/JPY, USD/JPY and EUR/JPY

The re-emergence of US banking concerns and plenty of high impact data including US GDP, Fed and ECB rates meetings, warrants a closer look at the safe-haven currency

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Euro Latest: EUR/USD Stuck in a Holding Pattern Ahead of High Impact Data Releases

EUR/USD volatility is likely to return shortly with a slew of high importance US and Euro Area data set for release over the next 36 hours.

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Crude Oil Sinks as Sentiment Waivers in the Face of Supportive Data. Lower WTI?

Crude oil prices have pulled back to levels seen prior to OPEC+ lowering its output target and underlying market structures might be less supportive going forward. Where to for WTI?

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S&P 500 Subdued Despite Microsoft’s Bullish Explosion, US First-Quarter GDP Eyed

The S&P 500 fell on Wednesday, undermined by cautious market sentiment, with most sectors ending the day in negative territory but tech commanding strength thanks to Microsoft’s solid rally.

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USD/CAD Wavers at Fibonacci Resistance as USD/JPY Makes Move on Trendline Support

USD/CAD stalls and wavers at technical resistance following its strong performance in recent days. Meanwhile, USD/JPY makes a move on trendline support, with sellers positioning for a breakdown.

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Copper Issues Worrying Signal to Markets on Softer Chinese Demand

Often viewed as a leading indicator of global economic health, copper prices remain susceptible to further downside despite bulls appearing to halt further declines

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Gold and Silver Bid Higher, Government Bond Yields Fall on Recession Fears

Gold and silver continue their recent push higher, aided by lower US Treasury bond yields and ongoing fears about the health of the US banking sector.

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GBP/USD Technical Forecast: 1.2350 Support Key for Bullish Continuation

Cable found support just below the 1.2400 handle before rallying higher this morning as overall risk sentiment improved. Fresh YTD highs still a possibility?

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Microsoft and Alphabet Deliver Strong Results, S&P 500 Futures Buoyed by Tech Earnings

Microsoft and Alphabet announced quarterly results today after the market close, with both tech companies beating EPS and revenue expectations by a decent margin.

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Japanese Yen Price Action Setups: EUR/JPY, USD/JPY, AUD/JPY

Comments from BoJ Governor confirms no change to yield curve control and easy monetary policy stance. Interesting price action setups developing on Yen pairs

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Consumer Confidence Sinks as Recession Headwinds Grow, USD Gains on Risk-off Mood

U.S. Consumer confidence worsened more than expected in April, suggesting that Americans are beginning to take a more pessimistic view of the economy amid growing recession risks.

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