Bank of England governor Andrew Bailey warned today that getting inflation down to target will be ‘hard work’ and pushed back against market expectations of interest rate cuts in the ‘foreseeable future’.
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Monday, 27 November 2023
Gold (XAU/USD) and Silver (XAG/USD) Continue to Rally as Buyers Take Charge
Gold and Silver start the week on the front foot, printing fresh multi-month and multi-week highs respectively
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FTSE 100, DAX 40 and S&P 500 Begin the Week on a Quiet Note
Outlook on FTSE 100, DAX 40 and S&P 500 following Thanksgiving weekend.
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USD/JPY Weekly Forecast: BoJ Policy Change Reinforced by Japanese CPI
JPY prices have managed to begin the week on the front foot as elevated Japanese inflation stokes hawkish bets.
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Sunday, 26 November 2023
Market Week Ahead: Gold Tests $2k, GBP/USD, EUR/USD Pop, USD Sags
A holiday shortened week saw the US dollar slide, prompting a small rally in gold, while Sterling flexed its muscles after a robust PMI release.
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Thursday, 23 November 2023
Euro Price Forecast: EUR Weakens on German GDP
EUR prices pulled back slightly as German GDP breached negative territory on the quarterly statistic. Ifo business climate and ECB speak in focus later today.
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US Dollar Price Action Setups: DXY, EUR/USD, GBP/USD
Breaking down USD pairs for potential setups heading into the weekend. Will we get a return of liquidity and an explosive end to the week?
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Bitcoin Steady as Coinbase (Coin) Emerges as Winner from Binance Saga
Bitcoin holds the high ground in what was a quiet day. Crypto enthusiasts appear to have shrugged off the Binance saga and record breaking fine as lack of liquidity is evident.
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Gold Cautious Above $2000 on Thin, Holiday Affected Trading
Gold trades within a narrow daily range on Thanksgiving as US traders step away from their screens. Will the temporary ceasefire lead the metal lower?
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EUR/USD Price Update: German PMI Points Towards Shallow Downturn
German manufacturing and services sectors have contracted as the economic situation in the EU’s manufacturing hub has withered. However, November’s data eases
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AUD Price Forecast: Aussie Dollar Shakes Off Weak PMI’s
AUD prices are bid this morning despite Judo Bank PMI’s reaching fresh yearly lows as Thanksgiving Day is expected to result in muted trading today.
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Wednesday, 22 November 2023
Australian Dollar Price Action Setups: AUD/USD, GBP/AUD
RBA Minutes keep the Aussie Dollar supported. Technical outlook and potential setups for both AUDUSD and GBPAUD.
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Gold Price Forecast: Rejection at $2000 Level Leaves the Door Open for a Move Lower
Gold’s failure at the $2000 hurdle leaves the precious metal vulnerable to a deeper retracement. Will the lack of liquidity expected the rest of the week help minimize the losses?
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FTSE 100, S&P 500 and Russell 2000 Consolidate Ahead of Thanksgiving
Outlook on FTSE 100, S&P 500 and Russell 2000 as US earnings season draws to a close
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CAD Price Forecast: Loonie Faces Key Support Ahead of US Data & OPEC+
USD/CAD prices are on the precipice of a breakdown lower but US macroeconomic data and OPEC+ decision on supply are crucial for short-term guidance.
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Tuesday, 21 November 2023
USD/CAD Remains Rangebound as Canadian CPI Falls More Than Expected. Where to Next?
Bank of Canada will breathe a sigh of relief following a better-than-expected CPI print. The Central Bank will be hoping this is a start of a trend rather than a once off drop as we had in June.
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US Dollar Index (DXY) Continues Recovery as FOMC Minutes Have Minimal Impact
The FOMC Minutes release had limited impact today as markets have already weighed key data releases since. The DXY eyes a deeper recovery but is it sustainable?
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Dow, Nikkei 225 and CAC40 Continue to Make Gains
The Dow is at its highest level since the summer, while the Nikkei 225 is contemplating more gains to take it to a multi-decade peak, and the CAC40 has regained the 200-day moving average.
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GBP Price Forecast: Pound Gears Up for FOMC as Markets Process UK Borrowing
Pound prices stay elevated after UK public sector borrowing beat expectations but highlighted the persistent debt crisis. FOMC minutes next up for GBP/USD.
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Monday, 20 November 2023
Crypto Forecast: Will Bitcoin Have What it Takes to Break the $38k Mark?
Bitcoin faces a key test as ETF decision is delayed once more. Can the bullish momentum continue or is a deeper retracement toward the $35k mark growing more likely?
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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 -...