Rand prices faces firm opposition at a key support zone after a sharp appreciation against the USD.
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Monday, 6 November 2023
US Dollar (DXY) Sell-Off Continues after US Treasury Yields Collapse
The US dollar continues to move lower and eyes levels last seen nearly two months ago, as rate traders price in 100 basis points of rate cuts in the US next year.
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FTSE 100, DAX 40 and S&P 500 Lose Upside Momentum Following Last Week’s Strong Gains
Outlook on FTSE 100, DAX 40 and S&P 500 as softer US economic data, a subdued Non-Farm Payrolls and dovish Fed statements led to risk-on sentiment.
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AUD/USD Price Forecast: Aussie Dollar Looks to RBA for Guidance
AUD prices trade marginally lower today as investors keenly await tomorrow’s RBA interest rate decision.
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Sunday, 5 November 2023
Markets Week Ahead: Gold Muted, Nasdaq 100, EUR/USD, GBP/USD Rip as US Yields Sink
Several Fed officials will deliver speeches in the coming days, including Chairman Powell. Traders should pay attention to their comments for clues on the outlook for monetary policy and impact on markets.
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Gold/Silver Weekly Forecast: Investors Capitalize on Weak NFPs
Gold & silver prices rallied last week leaving technical signal in favor of additional upside as markets prepare for several Fed speakers throughout the week.
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Friday, 3 November 2023
GBP Price Forecast: Pound Clinging to Post-BoE Gains
GBP prices stayed elevated after the BoE decided to hold rates constant yesterday. Today, all eyes shift to US data including NFP and ISM services PMI’s.
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Thursday, 2 November 2023
US Jobs Report Preview: Forecast for EUR/USD and GBP/USD
This article provides insights into how EUR/USD and GBP/USD may react to Friday’s U.S. jobs data, while highlighting the specific components of the employment report that need to be closely examined.
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USD/CAD Price Forecast: 1.3900 Holds Firm as DXY Retreats, Will 20-Day MA Provide Support?
USD/CAD Extends downside today thanks in large part to further weakness in the DXY. Will tomorrows NFP reignite the bullish price action on USD/CAD?
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US Dollar Forecast: USD/JPY Slips but AUD/USD Breaks Out After Fed, NFP Ahead
This article examines USD/JPY and AUD/USD from a fundamental and technical point of view, analyzing the key drivers that could guide the markets and that traders should focus on in the near term.
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Dow, Nasdaq 100 and CAC40 Continue to Rally
Indices have continued to make gains, emboldened by the Fed decision last night and an easing back in bond yields.
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USD/ZAR Price Forecast: Rand Bolstered by Weaker Dollar
Rand prices continued to strengthen after the latest FOMC announcement left the US dollar on the backfoot. USD/ZAR now tests key support around R18.50/$.
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Wednesday, 1 November 2023
EUR/USD, Gold Forecast: Powell Fails to Steer Markets Towards Another Hike. What Now?
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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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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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 -...