The Rand (ZAR) benefits with the BRICS summit under way. However, talks of de-dollarisation may be premature but there is a lot on the agenda for the Bloc with expansion plans the key focus.
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Tuesday, 22 August 2023
Euro (EUR) Forecast Latest: Will Flash PMIs Spark Action in EUR/USD, EUR/JPY?
Wednesday’s German and Euro Zone flash PMIs may give the single currency a much needed boost of volatility
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Oil Price Outlook: Modest Chinese Stimulus Triggers Demand Concerns
A string of modest stimulus measures from Chinese policymakers raises doubts over oil demand from the world’s second biggest oil consumer despite softer US Dollar
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Gold (XAU/USD) Rally Gathers Pace but 200-Day MA Could Cap Gains
Spot Gold rallies back above the $1900/oz handle but the 200-day MA lies in wait. Do the Bulls have enough momentum for a break higher?
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Monday, 21 August 2023
Asian Indices Feel the Heat of Rising Yields: Hang Seng, Kospi, Straits Times Index Setups
The upward pressure in Asian indices appears to be fading fast amid rising global yields and a faltering post-Covid recovery in China. What is the outlook for the Hang Seng Index, Kospi, and FTSE Straits Times Index?
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US Dollar Looks Tired Ahead of Jackson Hole: EUR/USD, GBP/USD, USD/JPY Price Setups
The US dollar’s rally looks tired against some of its peers ahead of the Jackson Hole Economic Symposium beginning Thursday. What is the outlook for EUR/USD, GBP/USD, and USD/JPY?
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Asia Day Ahead: Heavy-Lifting from US Tech Overnight as Nvidia Results in Focus
The US 10-year Treasury yields touched a new 15-year high, but renewed traction towards tech shares ahead of Nvidia’s result release saw shrug-off from Nasdaq.
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JPY Intervention Levels Assessed Ahead of Jackson Hole, Yen Offered
Yen weakness continues on Monday after clawing back some losses last Friday. Markets may look to test 150 after Suzuki clarifies concern over yen volatility, not level
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Gold (XAU/USD) Remains Weak, Eyes Now on the Jackson Hole Central Banker Meet Up
Gold is down by $100/oz. over the last month and with little in the way of support on the chart, further losses may accrue
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GBP/USD with Modest Gains but Remains at the Mercy of the DXY
Cable puts in modest gains to start the week buoyed by a weaker Dollar Index (DXY). Will Central Bankers at Jackson Hole provide a catalyst for a breakout?
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Stock Indices Steady as PBOC Reduces its 1-Year Loan Prime Rate to a Record Low
Outlook on FTSE 100, CAC 40 and Nasdaq 100 as the People’s Bank of China seeks to strike a balance between helping the faltering economy and stemming further weakness in the yuan
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Sunday, 20 August 2023
Euro Steadies as Hang Seng Tanks on PBOC’s Shallow Cut. Lower EUR/USD?
The Euro eked out small gains to start the week as the US Dollar adjourns it bull run while China’s stimulus measures fall short of expectations. Will EUR/USD support hold?
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New Zealand Dollar Reverses Gains After PBOC Move; NZD/USD, AUD/NZD, GBP/NZD Setups
NZD gave up early gains against its peers after China cut its one-year benchmark lending rate but left its five-year rate unchanged. What is the outlook for NZD/USD, AUD/NZD, and GBP/NZD?
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US indices attempt to stabilise, while China’s loan prime rates delivered more modest response: Nasdaq 100, Hang Seng Index, US dollar
Major US indices were subdued to end last Friday, but nevertheless, it reflected an attempt to stabilise following three straight days of heavy losses.
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Crude Oil Price Wanes with a Higher US Dollar and Treasury Yields. Where to for WTI?
Crude oil prices are slightly softer to start the week with the market looking for a rate cut from the PBOC today to boost China’s economic prospects. Will WTI steady on a better outlook?
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Markets Week Ahead: Gold, US Dollar, Nasdaq 100, Treasury Yields, Jackson Hole, China
Surging Treasury yields pushed down gold prices as the US Dollar outperformed and equity markets wobbled. Ahead, all eyes are on the Fed’s Jackson Hole Symposium as markets continue watching economic developments out of China.
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XAU/USD Price Forecast: Is the Tide Turning for Gold?
Gold prices looks to a big data week that includes the Jackson Hole Economic Symposium as XAU/USD bulls look to find some respite.
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Friday, 18 August 2023
EUR/USD Price Forecast: Battered Euro May Be in for More Pain
The euro has slumped further ahead of a massive data week next week. EUR/USD now eyes channel support around the 1.0834 handle.
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Bitcoin (BTC), Ethereum (ETH) Slump to Multi-Month Lows, Volatility Back With a Vengeance
After weeks of sideways, low vol trade, Bitcoin and Ethereum slumped 8%+ in minutes as sellers took complete control of the market
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EUR/GBP, GBP/USD Update: GBP Slides as UK Retail Sales Disappoints
UK retail sales disappoints following a wet July dragging the British Pound lower in early European trade. More gains in store for the GBP against the Euro and Greenback?
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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 -...