An initial move higher in Wall Street last Friday eventually faded into the close, as market participants took the opportunity for further profit-taking into the seasonally weaker month of August
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Sunday, 6 August 2023
Markets Week Ahead: British Pound, Euro, Gold, US Dollar, CPI and GDP Data
The Euro and British Pound cautiously weakened last week amid a stronger US Dollar. This also meant gold underperformed. Ahead, all eyes turn to US CPI and UK GDP.
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Friday, 4 August 2023
Euro Price Outlook: EURUSD on Breakout Watch, EURGBP Range Continues
European fundamental data has not helped spur on the currency despite encouraging GDP print. ECB looking to reach peak rates no longer supports the currency
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FTSE 100, Dax and Nasdaq 100 Move Cautiously Higher
Indices have seen their losses stabilise for now, after the mid-week drop following the US debt downgrade.
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AUD/USD, GBP/AUD Analyzed as AUD Eyes a Recovery Post RBA Statement
A few positives for the Australian Dollar this morning as China lifts Barley tariffs helping AUDUSD to tick slightly higher in the Asian session. The beginning of a sustained move higher?
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Thursday, 3 August 2023
British Pound Could Stage a Rebound: GBP/USD, EUR/GBP, GBP/JPY Price Setups After BOE
GBP looks set to recoup some of its recent losses after BOE raised interest rates and didn’t rule out further tightening. To what extent GBP could rise against USD? What is the outlook for EUR/GBP and GBP/JPY?
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After-market relief in Wall Street, with look-ahead to US job report: US dollar, Straits Times Index, Copper
Major US indices ended the day slightly underwater, as the US 10-year Treasury yields continue to head to its highest level in almost nine month.
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Gold Price Ponders Direction as the US Dollar and Treasury Yields Eye Higher Levels
The gold price stalled on trend line support today as markets take stock of a rising US Dollar and Treasury yields. The perceived ‘haven’ status is yet to emerge for XAU/USD.
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Nasdaq 100, S&P 500 and CAC40 all Fall as European and US Indices Come Under Further Pressure.
Selling continues in indices, as the effects of the US downgrade continue to rock markets.
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US Dollar Price Forecast: Investors Retreat to USD Sanctuary
The U.S. dollar is capitalizing on the risk aversion in global markets as investors seek out safe haven assets. DXY approaching key resistance levels.
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Wednesday, 2 August 2023
Japanese Yen and Nikkei 225 Tank as US Dollar Re-Asserts Itself. New USD/JPY Highs?
The Japanese Yen melted again today as the US Dollar ascendency got back on track after investors and traders reassessed their exposure to risk assets. Will USD/JPY test prior peaks?
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US Indices Rally Beginning to Crack? S&P 500, Nasdaq Price Setups
Relatively bigger down days than up days since late July on the daily charts of the Nasdaq 100 index and the S&P 500 index’s fall below support for the first time since April suggests the rally in US indices could finally be due for a breather.
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Asia Day Ahead: Downbeat Handover from Wall Street: Nikkei 225, GBP/USD, Nasdaq 100
Market sentiments continue to reel in from the US credit rating downgrade by Fitch overnight, with overbought technical conditions potentially exacerbating some profit-taking.
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Crude Oil Crunched as Markets Recoil from Fitch Downgrade. Lower WTI?
Crude oil prices are under the pump today as macro conditions unwind the jolly July rally on US debt woes and although stockpiles have been depleted, WTI vulnerability has been exposed.
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AUD Price Forecast: US Ratings Downgrade Burns Pro-Growth Aussie
AUD prices have been rocked by the US ratings downgrade but has managed to find support against the NZD as market keenly await ADP data later today.
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Tuesday, 1 August 2023
Crude Oil Eyes New Highs Despite Risk Aversion Elsewhere on Fitch Decision
The crude oil price has maintained overnight gains despite a tough day for risk assets after Fitch downgraded US sovereign debt saw equity markets retreat lower. Higher WTI?
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Euro Lifted Slightly by US Downgrade, but Will it Last? EUR/USD, EUR/AUD, EUR/NZD Price Action
EUR appears to be slightly supported after Fitch downgraded US ratings. Still, monetary policy and growth differentials suggest the single currency is unlikely to benefit much. What is the outlook for EUR/USD, EUR/NZD, and EUR/AUD?
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Gold Price Takes a Tumble as US Dollar Gains Post Fitch Downgrade. Lower XAU/USD?
The gold price is in the middle of its recent range near US$ 1,950 going Wednesday after a US Dollar rally before Fitch downgraded US sovereign debt. It may trigger some volatility. Where to for XAU/USD?
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US Dollar, Dow Jones Sink as Fitch Downgrades US Credit Rating. Now What?
The US Dollar and Dow Jones took a plunge after Fitch downgraded the US credit rating amid fiscal deficits and an aging population. Will these moves be sustained?
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S&P 500 on Edge Before Apple & Amazon, Gold Tanks as Yields Soar ahead of NFP
Earnings from tech mega-caps Apple and Amazon, as well as the U.S. jobs report for July, could grab the spotlight and determine the trading bias of the S&P 500 in the coming days.
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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 -...