The Euro printed a new high despite the US Dollar pausing in its descent going into Tuesday’s session with next week’s ECB and Fed meetings moving into view. Will EUR/USD reverse?
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Monday, 17 July 2023
British Pound Ahead of UK CPI: GBP/USD, EUR/GBP, GBP/JPY Price Action
The British pound is holding on to its recent gains ahead of the key UK inflation data as speculative long GBP positioning is at its highest level since 2014. How do GBP/USD, GBP/AUD, and EUR/GBP look?
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Sentiment Awaiting Cues from Key US Earnings Releases Ahead: Brent crude, AUD/JPY, Natural Gas
Wall Street started the new trading week on a positive footing, as risk appetite rose ahead of several key earnings releases this week.
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Crude Oil Price Rolls Over on China Growth Woes and Libya Re-open. Lower WTI?
Crude oil prices are teetering lower after China’s GDP missed estimates and Libya reopened several oil fields. WTI has retreated back into the range, will this pattern persist?
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S&P 500 Outlook: Make or Break Week for Stocks ahead of Netflix, Tesla Earnings
The S&P 500 begins the week on the front foot, notching its best close in 2023 ahead of this week's key corporate earnings reports, which include results from Netflix and Tesla.
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USD/CNH, Copper Outlook: Worrisome Chinese Data Takes Hold
Lackluster Chinese Q2 GDP data paints a worrying picture for Chinese related assets including copper. USD/CNH bullish momentum in doubt after US dollar selloff
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WTI and Brent Start Week on the Back Foot as Chinese GDP Underwhelms
Oil prices finished last week on the back foot with underwhelming Chinese data this morning unlikely to help. Are we in for a retracement before bullish continuation?
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Sunday, 16 July 2023
US Dollar Finds Traction While China GDP Misses Estimates. Where to for USD?
The US Dollar consolidated to start the week while soft Chinese GDP numbers highlight growing concern for the economic recovery there. With the Fed in a blackout, where to for USD?
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Gold Price Gives Up Some Gains as the US Dollar Steadies. Where to for XAU/USD?
The gold price is in the middle of its recent range near US$ 1,950 going into the new week with a US Dollar at a crossroads while the Fed is in a blackout period ahead of the FOMC.
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Australian Dollar Holds Losses After China GDP; How Much More Downside in AUD/USD?
The Australian dollar held the day’s losses against the US dollar after the Chinese economy grew less than expected in the second quarter. How much more downside in AUD/USD?
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Asia Day Ahead: Subdued Start to the Week Ahead of Key China Data
Earnings results from major US banks were somewhat mixed to end last week, with the Financial Select Sector SPDR Fund having formed a bearish engulfing candle on its daily chart.
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Markets Week Ahead: Gold, EUR/USD, S&P 500 Break Out as USD Tanks; Tesla Earnings Eyed
Gold, the Nasdaq 100, EUR/USD and GBP/USD all soared this week, while the US dollar broke down after US CPI data surprised to the downside. Traders should keep an eye on whether recent market moves can be sustained as the US earnings season gets underway.
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Friday, 14 July 2023
Euro Forecast: EUR/USD Breakout Gains Momentum but Fibonacci Resistance on Radar
EUR/USD rallied aggressively this past week, rising to its best level since February 2022. With momentum on its side, the pair’s outlook remains positive, but Fibonacci resistance may cap its upside going forward.
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EUR/USD Catches its Breath at Multi-Months Highs, Where to Next?
EUR/USD has been on a tear this week, on course for its largest weekly gain since November 2022. Can the dollar regain any semblance of strength ahead of the July FOMC meeting?
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USD/JPY Edges Up After Bruising Week, Japanese Yields Rise
The Japanese Yen has gained fully from general Dollar weakness as markets reassess US rate-rise chances
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GBP/USD Price Outlook: Dollar Selloff Drives Cable Rally Ahead of UK CPI
Cable’s impressive rally has been largely driven by the USD selloff. Additionally, the disconnect in US/UK inflation dynamics bodes well for sterling ahead of UK CPI
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Equity Rally Loses Some Steam as U.S. Earnings Season Kicks Off in Earnest
Outlook on FTSE 100, DAX 40 and S&P 500 as the Q2 earnings season kicks off with the likes of JPMorgan, Citigroup, Wells Fargo and Blackrock.
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Gold (XAU/USD) Consolidates Recent Gains After Stubborn Resistance Falls
Renewed US dollar weakness has given gold the strength to take out a layer of stubborn resistance that has been holding the precious metal back for weeks.
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Thursday, 13 July 2023
Bitcoin & Ethereum After Ripple Wins SEC Case: Preparing for an Advance
Cryptocurrencies jumped after a US judge ruled on Thursday that Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges. Technical charts suggest Bitcoin and Ethereum could be preparing for another leg higher.
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Oil Price Forecast: WTI and Brent Face Technical Hurdles. Where to Next?
Oil prices recent rally has run into some technical headwinds with US data later today likely to be key once more. Can Oil prices sustain recent gains and head higher?
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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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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...
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British Pound (GBP) Latest: GBP/USD Nudges Higher, FTSE 100 Picks-Up as President Trump Takes ActionThe British Pound is registering small opening gains and the FTSE 100 is nudging higher after US President Trump announced new COVID-19 aid ...