Friday, 26 May 2023

Japanese Yen (JPY) Latest: USD/JPY Toying With 140.00 on Supportive US Yields

USD/JPY is taking a break after its recent rally with US dollar strength priming the pair for a fresh test of Thursday’s multi-month high

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Gold Recoups Some Losses, US Debt Ceiling, Inflation In Focus

Gold Prices rose a little on Friday, as the United States’ Dollar gave back some ground, but are nonetheless set for their third straight weekly fall.

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​​ FTSE 100, DAX 40 and S&P 500 Try to Stabilise Despite Ongoing US Debt Ceiling Woes

​​Technical analysis on FTSE 100, DAX 40 and S&P 500 within their fundamental context.

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GBP/USD Price Forecast: Cable Bounces from Oversold Territory as UK Retail Sales Recover

Cable eyeing a short-term bounce helped by technicals and a resurgent retail sector. Can Cable hold onto its gains ahead of US data later today?

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Thursday, 25 May 2023

Gold Price Forecast: $1950 Level Holds Key for Bearish Momentum to Continue

Spot Gold continues to struggle against a rising Dollar index and US Yields. Will the bears finally assume control?

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Dow and Hang Seng Fall Sharply, but Nasdaq 100 Supported by Nvidia​​​​

​​The US debt ceiling continues to hang over markets, though Nvidia’s numbers have provided yet another reason for the Nasdaq 100 to move higher. ​

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EUR/USD Outlook: Euro Tumbles as Germany Enters Recession

EUR/USD down 0.3% in early trade as multiple factors weigh on the euro including German recession, US debt ceiling, US downgrade and souring risk sentiment.

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Wednesday, 24 May 2023

Australian Dollar Looking Vulnerable: AUD/USD, AUD/JPY, AUD/CAD Price Action

The Australian dollar is looking vulnerable to a cross below key support against the US dollar, a break below which could lead to further losses in the near term. What is the outlook for AUD/USD, AUD/JPY, and AUD/CAD?

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US Dollar Rides High as Debt Debate Continues Amid Fitch Re-Rating. Higher DXY?

The US Dollar galloped to a 2-month peak today with Treasury yields continuing their climb as the debt ceiling resolution proves elusive and the Fed joins the fracas. New highs for USD?

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Crude Oil Pings Higher as Specs Told to ‘Watch Out’ by OPEC+. Higher WTI?

Crude oil prices sailed through resistance overnight after comments from the Saudi Arabian Energy Minister and a large drop in US stockpiles. Will WTI continue to rally?

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Gold Price Held Back By Multi-Decade High US Treasury Bill Yields

Gold continues to stall around $1,975/oz. with resistance fueled by US debt ceiling fears and soaring short-term US bill yields.

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​​​FTSE 100, DAX 40 and S&P 500 Drop as no US Debt Ceiling Agreement is Signed​​​

​​Outlook on FTSE 100, DAX 40 and S&P 500 amid ongoing US debt ceiling negotiations.

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Oil Price Update: WTI and Brent Rally Approaches Confluence Area, Where to Next for Oil Prices?

Oil prices have enjoyed a positive rally this week with production fears ramped up as the OPEC+ meeting looms. Are we in for further production cuts from OPEC+?

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Breaking News: Hot UK CPI Augments Pound, GBP/USD Above 1.24

GBP/USD rallied on the back of sticky inflation figures particularly from the core metric pushing cable above the 1.24 support handle.

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Tuesday, 23 May 2023

New Zealand Dollar Slides as RBNZ Hikes by 25 Basis Points, But Sees Peak in Rates

The New Zealand dollar tumbled after the Reserve Bank of New Zealand (RBNZ) raised its benchmark rate by 25 basis points, in line with expectations, but signalled it may be done with tightening.

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US Dollar Steadies on Firm Treasury Yields Despite Debt Ceiling Risks. Higher USD?

The US Dollar ticked higher with Treasury yields to start this week, but the debt ceiling debacle loiters as a potential catalyst for market action. Will the DXY Index rally continue?

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USD Price Forecast: Debt Ceiling Optimism Supportive of Dollar Index (DXY)

The U.S. dollar remains apprehensive as debt ceiling talks continue ahead of some key US economic data this week. US PMI figures and Fed speak in focus today.

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Monday, 22 May 2023

Crude Oil Bumped Up on Hopes of a Debt Ceiling Deal. Will WTI Break the Range?

The crude oil price steadied again today as the broader macro picture remains somewhat opaque despite reassurance from Biden and McCarthy. Would a resolution boost WTI?

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Australian Dollar Ahead of Retail Sales: AUD/USD, EUR/AUD, GBP/AUD Price Setups

AUD has been mixed against its peers as Australian rate hike expectations scaled back after employment unexpectedly fell in April. The key focus is now on retail sales data due Friday. What is the outlook for AUD/USD, EUR/AUD, GBP/AUD?

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Gold Price Finds Traction as US Dollar Pauses Despite Higher Yields

Gold continues to consolidate today after looking lower last week as the US Dollar ponders direction with the debt ceiling issue yet to be resolved. Would an agreement impact XAU/USD?

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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...