Tuesday, 11 July 2023

Dow Nasdaq and Nikkei Struggle to Maintain Bullish Momentum

Indices posted gains yesterday, but a more cautious atmosphere prevails in early trading this morning.

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EUR/USD Hits Fresh 2-Month High Time for a Pullback?

EUR/USD faces a challenge in attempting to break the range high of 1.1100 without any significant change to the macro picture. Do bulls have enough juice or is another retracement incoming?

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Monday, 10 July 2023

UK Breaking News: Wage Growth Keeps Pound Bid

GBP/USD rises sharply to 1.2900 post-labor data after wage growth hits fresh yearly highs.

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Gold Price Firms While US Dollar Eases as Treasury Yields Dip. Where to for XAU/USD?

The gold price is inching higher while the US Dollar slides going into Tuesday despite several Fed speakers getting hawkish, mostly. Will Wednesday’s US CPI hold the keys to XAU/USD direction?

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New Zealand Dollar Flexes Muscles Ahead of RBNZ; NZD/USD EUR/NZD GBP/NZD Price Action

The New Zealand dollar is showing signs of building a base against some of its peers ahead of the Reserve Bank of New Zealand (RBNZ) interest rate decision on Wednesday. What is the outlook for NZD/USD, EUR/NZD, and GBP/NZD?

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European stocks indices to open lower on sluggish Chinese economy

​​Outlook on FTSE 100, DAX 40 and S&P 500 as Chinese economy remains lacklustre.

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Australian Dollar Price Forecast: Chinese Inflation Hurts Pro-Growth AUD

AUD/USD looks ahead to Fed guidance later today after a weak start to the trading day.

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Sunday, 9 July 2023

Crude Oil Dips After Large Gains as US Dollar Finds Firmer Footing. Lower WTI?

The crude oil price eased a touch today as it remains trapped in a range with soft Chinese data and Madame Secretary Yellen not ruling out a US recession. US CPI is now in view.

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Gold Price Steadies as US Dollar Under Pressure Ahead of CPI. Where to for XAU/USD?

The gold price is poised near US$ 1,930 going into the new week with a US Dollar losing traction despite Treasury yields ticking north. Will real yields play a role in XAU/USD direction?

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Cracks Emerge in Japanese Yens Downtrend; USD/JPY CAD/JPY MXN/JPY Price Setups

The Japanese yen looks set this week to shed some of its gains against some of its peers, but cracks are starting to emerge in the Japanese currency’s broader downtrend that could limit any weakness.

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Asia Day Ahead: US Job Report Brings Cautious Start to the Week

Major US indices failed to retain its initial gains in the aftermath of the US June jobs report last week, with a mid-day sell-off on relative high volume forcing an eventual close in the red.

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Markets Q3 Outlook: Gold US Dollar Nasdaq 100 Crude Oil Fed Labor Markets

Financial markets remained resilient in the wake of a resurgence in hawkish central bank bets during the second quarter. Will this momentum hold in the third quarter?

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Saturday, 8 July 2023

Oil Fundamental Forecast: Q3 the Catalyst for Crude Oil?

Crude oil prices could be in for a positive Q3 with OPEC+ maintaining production cuts through to August.

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Friday, 7 July 2023

Australian Dollar Outlook: Central Banks Continue to Grapple with CPI

The Australian Dollar finished the second quarter not far from where it started after breaking both sides of an established range. Although some domestic factors have played a role in AUD/USD direction, the US Dollar remains a dominant factor for the currency.

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GBP/USD Price Forecast: Pound Anxiously Eyes NFP Data

GBP/USD dismisses UK Halifax housing data as markets focus solely on the upcoming US NFP release.

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Gold (XAU/USD) Prices at Risk of Freefall Heading Into NFP Day

Spot Gold continued to probe the psychological $1900/oz level yesterday after red-hot US data. Will the NFP report provide the catalyst for a sustained break lower?

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Thursday, 6 July 2023

Crude Oil Holds the High Ground as US Jobs Data Lights Up. Higher WTI?

The crude oil price is scoping new highs as inventories drop and the US economy continues to track along at a clip with jobs data prompting a potentially more hawkish Fed. Where to for WTI?

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Japanese Yen Aided by Jump in Japan Wages: USD/JPY EUR/JPY AUD/JPY Price Setups

The Japanese yen found some bids after Japanese wages rose significantly more than expected, lowering the hurdle for the Bank of Japan to tweak its ultra-loose monetary policy. What is the outlook for USD/JPY, EUR/JPY, and AUD/JPY?

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Asia Day Ahead: US Data Calls for Hawkish Bias in Feds Policy

Resilient labour market conditions and persistent services sector’s prices were not well-received by Wall Street yesterday, as the data called for a hawkish bias in Fed’s policies.

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Gold Prices on Downward Path and Probing Key Support Level Before US Jobs Data

Gold prices fall and approach an important Fibonacci support zone as U.S. Treasury yields rally violently following strong U.S. economic data. Attention now turns to the June NFP report.

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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...