USD/JPY is approaching intervention territory as the pair heads towards the 150 mark. Upcoming US CPI is likely to provide short-term directional guidance this week.
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Friday, 8 September 2023
USD/CAD Dips on Solid Canadian Data but Broader Outlook Tied to US Inflation
USD/CAD slides in reaction to strong employment growth in Canada, yet the broader direction of the pair could be more closely tied to the forthcoming U.S. inflation report next week.
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EUR/USD Price Forecast: Euro Teeters at 1.07 Ahead of ECB Rate Announcement
The euro tries to defy a break below 1.07 as euro area economic data continues to paint a bleak picture. EUR/USD could be in for more pain if the ECB does not raise rates.
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Bitcoin and Ethereum Price Latest – ETF ‘Noise’ Gives BTC/USD and ETH/USD a Bid for Now
Bitcoin and Ethereum both picked up a small bid after unsubstantiated rumors that a BTC ETF approval is likely soon. Both however remain stuck in a small range.
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FTSE 100, DAX 40 and S&P 500 Try to Stabilize After a Tough Week
Outlook on FTSE 100, DAX 40 and S&P 500 amid rising US dollar, treasury yields and oil price.
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Gold Price Update: Unchallenged US Dollar Set to Weigh on Gold Upside
The dollar, alongside US yields, has produced another move higher – potentially limiting gold’s upside potential ahead of US CPI data next week
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Thursday, 7 September 2023
Asian Indices Look for Upward Momentum: Hang Seng, Kospi, Straits Times Index Setups
The tables haven’t turned yet for HSI, while the odds that Kospi may have peaked are growing, just as Singapore’s FTSE STI index seeks direction. What is the outlook for some of the Asian indices?
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USD/CAD Price Forecast: Bullish Momentum Faces Stern Resistance
Recent US data has pushed the US dollar even higher, extending USD/CAD gains while the BoC opted to pause rates. Bullish momentum stalls at significant resistance level
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Euro (EUR) Price Latest: Euro Area Q2 GDP Downgraded, EUR/USD Probing 1.0700
The Euro Area is struggling to expand, according to the latest Eurostat data, leaving the single currency at the mercy of a strong US dollar
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Dow, Nasdaq 100 and CAC40 All Come Under Selling Pressure
Indices have seen bullish momentum slip away, as concerns about renewed rate hikes hit risk appetite.
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GBP/USD Price Forecast: Pound Breakdown Post-BoE & UK Housing Data
GBP prices slumped this morning after the Halifax house price index reports showed property prices missing estimates. GBP/USD now below 1.25.
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Wednesday, 6 September 2023
Euro Holds Ground Ahead of ECB as US Dollar Flexes. Where to for EUR/USD?
The Euro backed away from recent lows today with the US Dollar ascendency taking a breather. The ECB meet week and the market is uncertain about a hike. If they do, will EUR/USD rally?
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Real Yields Continue to Cast Shadow Over Gold: XAU/USD Price Action
Gold is restarting to feel the heat of rising US real yields following upbeat US data in the past couple of days. What is the outlook and what are the key levels to watch in XAU/USD?
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Crude Oil Price Makes New Peak on Supply Cuts and Inventory Run Down. Higher WTI?
Crude oil prices launched to a 10-month high overnight as OPEC+ supply cuts are extended, and US stockpiles continue to shrink while the structure of the market appears at a crossroads.
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XAU/USD Price Forecast: Gold On the Cusp of Another Breakdown
Gold prices could be in for more pain as oil prices add to reflation worries. XAU/USD now looks to US ISM services PMI.
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Tuesday, 5 September 2023
Euro Slides as US Dollar Dominates Again on Lofty Treasury Yields. Lower EUR/USD?
The Euro sunk to new lows after the US Dollar ascendency got back on track, boosted by rising Treasury yields and high energy prices. If WTI goes higher, where to for EUR/USD?
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Asia Day Ahead: Australia’s GDP Outperforms, Nikkei Eyeing Break of Bullish Flag
US indices started the week on a more subdued tone, with a jump in oil prices to a new 10-month high not providing much reassurances for the global inflation outlook.
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Australian Dollar Falls as GDP Slows; How Much More Downside for AUD/USD?
AUD after the Australian economy slowed in the second quarter, reinforcing the view that the RBA is done with hiking interest rates. What is the outlook for AUD/USD?
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US Dollar Soars as Yen Sinks on Burgeoning Yield Differential. Higher USD/JPY?
The US Dollar raced to new heights overnight with Treasury yields pushing north, exasperating the spread to JGBs. If the gap widens, will USD/JPY make a new peak?
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Australian Dollar Outlook: AUD/USD in Peril as Sentiment Data Signals Weakness
AUD/USD sinks and flirts with major breakdown following disappointing data from China. Market positioning indicates the potential for further declines in the near term.
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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 ...