The US Dollar regained its ascendency after the US debt deal passed Congress and was supported by solid jobs data. OPEC+ announced output cuts and the Fed is now in blackout mode.
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Sunday, 4 June 2023
Japanese Yen Week Ahead as Fed Skip Bets Grow: USD/JPY, EUR/JPY, AUD/JPY
The Japanese yen’s slide appears to be losing steam as US Federal Reserve rate hike expectations take a ‘U’-turn after dovish remarks from central bank officials. What is the outlook for USD/JPY, EUR/JPY, and AUD/JPY?
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Crude Oil Price Jumps Again after OPEC+ Announced Production Cuts. Higher WTI?
Crude oil prices made solid gains to start the week on the back of OPEC+ reduced output targets with Saudi Arabia making the largest sacrifice in an effort to boost prices.
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Asia Day Ahead: US debt ceiling resolution brings focus back to Fed’s rate outlook
With the US debt default crisis averted which has been largely priced by markets previously, central focus this week could be shifted back to the US Fed rate outlook.
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Markets Week Ahead: S&P 500, Gold, US Dollar; US ISM, Euro Area Retail Sales, RBA, Japan Econ Watchers, China Inflation
After some key activity data and the passage of the debt ceiling bill last week, markets could be in for a relatively quieter week on the data front. With the US Federal Reserve expected to pause hiking rates, inflation moderating in recent months, and US economic growth showing signs of resilience, optimism has been running high in equities.
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Saturday, 3 June 2023
OPEC+ Preview: Crude Oil Prices Linger Ahead of Production Guidance
Brent crude oil prices look for directional bias from the upcoming OPEC+ meeting with the cartel grappling with many moving parts.
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Gold Price Forecast: Dreams of Fresh Record Shattered for Now as Bears Pounce
The outlook for gold is starting to become more bearish from a fundamental standpoint, as the resilience of the U.S. economy could induce the Federal Reserve to continue raising rates later this year.
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Friday, 2 June 2023
Gold Price Recovery Runs Out of Steam as Red-Hot US Jobs Data Boosts Yields
Gold prices fell on Friday, weighed by rising U.S. Treasury yields as strong U.S. labor market data bolstered the case for higher-for-longer interest rates.
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May Jobs Report: NFP Smashes Estimates as US Unemployment Rises to 7-Month High
NFP rises once more with April's number seeing an upward revision. The unemployment rate did tick higher further complicating the job of the Federal Reserve ahead of its June meeting.
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US Dollar (DXY) on the Backfoot Ahead of the US Jobs Report (NFP)
The greenback is at a one-week low after a positive outcome to the US debt ceiling debate. Recent data shows that the US jobs market remains strong, what will today’s NFPs tell us?
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USD/JPY Price Forecast: Dollar Decline Provides Respite for the Yen
The yen appears to be benefitting from the Fed’s recent comments favouring a “skip” at this month’s FOMC meeting. Levels for a bearish continuation analysed
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Outlook on FTSE 100, DAX 40 and S&P 500 as US government agrees to raise the country’s debt ceiling.
Technical analysis on FTSE 100, DAX 40 and S&P 500 within their fundamental context.
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GBP/USD Price Forecast: Pound Rally Awaits NFP Confirmation
GBP/USD has scope for further upside with bullish technical patterns in focus ahead of the NFP report.
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Thursday, 1 June 2023
EUR/USD Turns the Tide as USD/JPY Fumbles, USD/CAD Carves Out Double-Top Pattern
EUR/USD regains poise after bouncing off technical support near the 1.0640/1.0600 area. Meanwhile, USD/JPY extends its correction as USD/CAD carves out a bearish double-top formation.
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Euro Area Inflation Slows Hitting February 2022 Lows, EUR/USD Bid
Euro Area inflation fell across the board in May with both the core and YoY print beating forecasts. Despite the positive data, it is unlikely to deter the ECB from hiking rates at its upcoming meeting.
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AUD/USD Price Forecast: Critical Juncture for Aussie Dollar
AUD/USD remains hesitant as US factors and local Australian influences battle for supremacy.
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Wednesday, 31 May 2023
New Zealand Dollar’s Slide Approaches Limits: NZD/USD, EUR/NZD, GBP/NZD Price Setups
The New Zealand dollar undoubtedly looks weak against its peers as the market digests the possibility of NZ rates peaking. However, the NZ currency is running into some pretty tough support that warrants caution in turning excessively bearish.
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US Dollar Dithers After Debt Deal Passes House of Reps. Will the Fed Now Drive USD?
The US Dollar struggled for direction on Thursday after the US debt deal passed through the House of Representatives ahead of the next hurdle. The market is now eyeing the Fed for clues.
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Making Sense of Japanese Yen’s Recent Slide: Is it the Start of a Renewed Leg Lower?
There are a couple of things that stand out on the charts of the Japanese yen against the US dollar and the closely correlated US Treasury yields recently. Importantly, what does it tell us about the future trend?
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EUR/USD in Downward Spiral after Support Break. What Do Technicals Say?
EUR/USD plunges and reaches its lowest level since March 17 on Wednesday, with the sell-off gathering pace following the invalidation of a medium-term rising trendline late last week.
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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...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...