The U.S. dollar could top soon in response to the Fed's cautious outlook. This scenario creates an opportunity for EUR/USD and gold prices to trade higher, but the theory hinges on U.S. data weakening going forward.
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Wednesday, 1 November 2023
Fed Stays Put, Keeps Hiking Bias; Gold & US Dollar Display Limited Volatility
The Fed held interest rates steady for the second straight meeting, but retained a tightening bias, signaling that future actions will be guided by financial conditions and the trajectory of the economy.
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FTSE 100 Edges Higher while Dax and S&P 500 Struggle
Most indices have moved higher over the past two sessions, putting a possible low for now, but uncertainty prevails ahead of the Fed decision tonight.
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EUR/USD Price Forecast: Euro Looks Vulnerable as All Eyes Shift to FOMC
EUR prices open on the backfoot this morning as attention shifts towards the Fed’s interest rate announcement.
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Tuesday, 31 October 2023
Nasdaq 100, EUR/USD Forecast: Fed Policy Outlook to Dictate Market Trend
The Fed's monetary policy guidance at its penultimate meeting of the year will help determine the short-term outlook for the Nasdaq 100 and EUR/USD. For this reason, traders should pay close attention to Powell's press conference on Wednesday.
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Bitcoin (BTC/USD) Technical Outlook: Golden Cross Pattern Fails to Inspire Higher Prices, What Next?
Bitcoin takes a breath but remains underpinned by Spot ETF hope. Will we remain rangebound ahead if news on the Spot ETF application?
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Nasdaq 100, Dow and Nikkei 225 Make Headway in Morning Trading
Indices appear to have stabilised for now, with gains in both US futures and in the Nikkei 225.
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AUD/USD Price Forecast: Aussie Dollar Bruised by Chinese PMI’s
AUD prices fell after Chinese manufacturing PMI’s slipped back into contractionary territory as markets look ahead to US CB consumer confidence.
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Monday, 30 October 2023
USD/JPY Price Forecast: BoJ Meeting to Deliver Another Tweak to YCC Policy? 145.00 Incoming?
The Yen enjoyed some strength today as Nikkei Asia broke a story that the BoJ are debating a further tweak to YCC policy. Will the BoJ follow through and what does that mean for USD/JPY?
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S&P 500 and Gold (XAU/USD) Take Diverging Paths Ahead of a Raft of Data Releases
Sentiment has seen a slight improvement to start the week helping risk assets rise. Safe havens on the other hand are experiencing a pullback. Given the risks ahead will the moves prove sustainable?
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Pound Price Forecast: Upcoming BoE Expectations Keep GBP Subdued
GBP prices stay suppressed ahead of both the Fed and BoE interest rate decisions later this week.
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Sunday, 29 October 2023
Crude Oil Steadies After as Markets Assess Middle East Risks Ahead of the Fed
The crude oil price is struggling for direction as the uncertainty for energy supply going forward weighs on sentiment. US Dollar gyrations are also dominating markets as the Fed decision looms.
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Canadian Dollar Outlook After BoC Stands Pat: USD/CAD, EUR/CAD, AUD/CAD
CAD is testing the lower end of the past one-year range against USD after BoC governor last week indicated that interest rates may have peaked. What is the outlook for USD/CAD, AUD/CAD, and EUR/CAD?
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Gold Price Jumps Hurdles Ahead of Fed and Despite a USD Rally. Higher XAU/USD?
The gold price steadied to start the week after climbing to a five-month peak last Friday. The precious metal has overcome higher Treasury yields and a solid US Dollar.
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Markets Week Ahead: Nasdaq, Gold, US Dollar; FOMC, BOJ, BoE, China PMI, Euro Area Inflation, US Jobs
Key focus in the coming week will be on the Q3 earning season, the Fed, the BOJ, and the BoE interest rate decisions. In addition, geopolitical developments in the Middle East and global manufacturing activity data will be closely watched.
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Friday, 27 October 2023
Japanese Yen (USD/JPY) Testing 150 Resistance Ahead of Bank of Japan Policy Decision
Next week’s Bank of Japan meeting is likely to be one of the most interesting meetings in years as the Japanese central bank mulls tightening monetary policy
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Thursday, 26 October 2023
Asian Indices Test Support Ahead of FOMC: Hang Seng, Kospi, Topix Price Setups
Asian equities indices are testing key support ahead of next week’s US FOMC meeting. What is the outlook for the Hang Seng Index, Kospi, and Topix and what are the key levels to watch?
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Nasdaq 100 Forecast: Cluster Support in Play after Breakdown. More Pain Ahead?
The Nasdaq 100 broke down after breaching a key technical floor, hitting its lowest level since late May. More pain could be ahead for the technology index if the bulls are unable to defend cluster support in the 14,150/13,930 range.
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Oil Price Forecast: WTI Rangebound as Demand Concerns Resurface. $80 a Barrel Incoming?
Oil prices failed to maintain yesterday's bullish momentum as markets anticipate a drop in demand in Q4 from both the US and Europe. Is WTI finally heading back to the 80.00 mark?
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Wednesday, 25 October 2023
Gold Price Ignores Rising Treasury Yields and a US Dollar Rally. Higher XAU/USD?
The gold price surged toward recent peaks today despite the US Dollar reasserting its ascendency and Treasury yields back on the march higher. Where to for XAU/USD?
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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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The US Dollar soared against the Indonesian Rupiah, with USD/IDR eyeing its best month since the 1997 Asia financial crisis amid the coronav...