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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Tuesday, 31 October 2023
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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Japanese Yen Retests 150 Ahead of BOJ; USD/JPY, GBP/JPY, EUR/JPY Setups
JPY is retesting the psychological 150 mark against the USD ahead of the BOJ’s policy meeting next week. What is the outlook and what are the key levels to watch in USD/JPY, GBP/JPY, and EUR/JPY?
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US Dollar Forecast: EUR/USD, AUD/USD on Shaky Ground Ahead of US GDP Data
U.S. GDP data will steal some of the limelight on Thursday. A strong report could put upward pressure on bond yields, boosting the U.S. dollar against its major peers, such as the euro and the Australian dollar.
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GBP/USD At Risk of Freefall if 1.2000 Psychological Level is Broken
GBP/USD faced a trendline rejection and renewed selling pressure making a return to recent lows. Are we in for fresh lows or a period of consolidation ahead of Central Bank Meetings?
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Tuesday, 24 October 2023
Australian Dollar Jumps on Shocker CPI Data. If RBA Hike, Higher AUD/USD?
The Australian Dollar leapt higher immediately after headline CPI printed at 5.4% year-on-year to the end of September, adding to potential hike or hikes by the RBA. Will AUD/USD rally?
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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 -...