NZD appears to have taken a back seat amid a deteriorating NZ economic outlook and the growing view that RBNZ is done with raising rates. What is the outlook for NZD/USD, AUD/NZD, and EUR/NZD?
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Monday, 7 August 2023
Warm Start to the Week, but Lead-Up to China’s Trade Data Brings Some Caution: S&P 500, China A50, Natural Gas
Following last Friday’s reversal, major US indices managed to hold onto their gains this time round, with the 4,500 level for the S&P 500 having to see some defending ahead.
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Crude Oil Crossroads Ahead as Markets Eye New Highs. Will WTI Overcome Resistance?
Crude oil prices have been approaching recent highs this week and a new peak might confirm the bullish trend, but a failure might see crude vulnerability unfold. Where to for WTI?
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USD/ZAR Price Forecast: Rand Suffers as Risk Sentiment Sours
ZAR prices slumped this Monday after tensions between Ukraine & Russia grew, stoking risk aversion towards risker currencies including the ZAR.
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WTI and Brent Eye a Retracement with Saudi Aramco Reporting Q2 Profits Drop
Oil prices retreat on slightly cautious start to the new week. Following a +- 16% gain in July can oil prices maintain their trajectory?
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FTSE 100, Dax and Dow Losses Stemmed for Now
Indices have tried to slow their declines, with signs of a recovery across the Dax and Dow.
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EUR/USD Price Forecast: Euro on Offer as German Industrial Production Contracts
The euro begins the week on the backfoot after the US dollar recovers and German industrial production misses forecasts.
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Sunday, 6 August 2023
US Dollar Struggles to Hold Gains Ahead of CPI: EUR/USD, GBP/USD, USD/JPY Price Setups
Mixed US jobs data released on Friday points to a limited upside in the US dollar ahead of the key US inflation data due on Wednesday. What is the outlook for EUR/USD, GBP/USD, and USD/JPY?
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Asia Day Ahead: Asia on a Cautious Tone Following Wall Street’s Reversal: Nasdaq 100, USD/JPY, AUD/USD
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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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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