Wednesday, 7 June 2023

EUR/USD Outlook: Euro Breakout Imminent, ECB Officials in Focus

EUR/USD fades as economic data and risk sentiment dwindles. ECB speakers will likely look to maintain the hawkish rhetoric today.

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Tuesday, 6 June 2023

British Pound at Mercy of Peers in Light Data Week: GBP/USD, GBP/JPY, GBP/AUD Price Setups

In a relatively light week regarding UK macro data, the British pound could be at the mercy of some of its peers. What is the outlook for GBP/USD, GBP/JPY, and GBP/AUD?

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Gold Gets its Groove as Markets Consolidate across the Board. Where to for XAU/USD?

The gold price shrugged off a press lower earlier this week with key macro events out of the way, attention might turn toward what the Federal Reserve will do next week. Higher XAU/USD?

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Asia Day Ahead: Modest gains in Wall Street, with economic data on watch in Asia

Wall Street added modest gains to their recent rallies overnight, as the VIX pushed to yet another new low since February 2020.

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Australian Dollar Tad Softer After GDP; Is AUD/USD About to Reverse This Week's Gains?

The Australian dollar was mostly softer against the US dollar after the Australian economy grew slower than expected in the first quarter of the year. What’s next for AUD/USD?

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Cable (GBP/USD) Settles into Consolidation Channel – Breakout Levels Analysed

Cable trades within a broader consolidation channel, lacking a bullish catalyst while at the same time finding support via elevated interest rate expectations

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​​Dow and Nasdaq 100 Look to Move Higher but Hang Seng Struggles​

​​After Friday’s bounce, some of the bullish momentum has faded, but the Nasdaq 100 continues to make headway. ​

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XAU/USD Price Forecast: Gold Tame in Low Vol Environment

Gold prices managed to stay afloat above the $1950/oz level as the dollar gives back some of its recent gains.

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Monday, 5 June 2023

Australian Dollar Jumps as RBA Hikes; How Much More to Go For AUD/USD?

The AUD jumped after the RBA surprisingly hiked interest rates by 25 basis points and said some further tightening may be required in its determination to return inflation to its target.

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US Dollar Pauses as Cross Market Volatility Rolls Over. Will Markets be Data Dependent?

The US Dollar recalibrated after data disappointed and may give the Federal Reserve room to skip a hike at their next gathering. Volatility has eased across markets. Will they spike again?

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Asia Day Ahead: Wall Street on a breather as Apple failed to commit to all-time high

A mixed showing in Wall Street eventually saw the Nasdaq pare its initial gains by the close, partly as optimism around Apple’s share price fizzled.

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USD/CAD Price Forecast: Loonie to Exploit Death Cross Formation?

CAD is poised for further upside ahead of the upcoming Bank of Canada rate decision.

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Sunday, 4 June 2023

Australian Dollar Ahead Of RBA: AUD/USD, AUD/NZD, EUR/AUD Price Setups

The Australian dollar has recouped some losses against some of its peers as the Reserve Bank of Australia interest rate pause doubts grow following the hike in the minimum wage. What is the outlook for AUD/USD, AUD/NZD, and EUR/AUD?

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US Dollar Holds the High Ground While Crude Oil Whips Around. Higher USD?

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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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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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...