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April 21, 2024 04:00 AM
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Gold, silver and copper eyeing upside, US inflation report key to US dollar impact
The stronger US dollar has acted as a handbrake on commodity prices, limiting what may have been otherwise a spectacular rebound to start 2024. Imagine what may happen if the dollar were to break down?
EUR/USD, AUD/USD, gold look set to take advantage of US dollar weakness
The US dollar snapped its 3-day winning streak and formed a bearish outside day, helping gold reach our upside target. EUR/USD and AUD/USD are now eyeing a move towards key resistance levels.
Nasdaq 100 analysis: Stocks rise as cooling US labour market boosts rate cut bets
Jobless claims rose more than expected, providing fresh evidence of a cooling US labour market and helping to support the view that the Federal Reserve is going to cut rates by around September. Nasdaq 100 technical analysis remains positive for now.
Trade ideas
Gold, silver and copper eyeing upside, US inflation report key to US dollar impact
Today 12:36 AM
EUR/USD, AUD/USD, gold look set to take advantage of US dollar weakness
Yesterday 10:15 PM
Crude oil analysis: Have oil prices formed a low?
Yesterday 12:00 PM
GBP/USD, USD/JPY Forecast: Two trades to watch
Yesterday 07:40 AM
GBP/USD key levels into BOE, silver considers its next breakout
Yesterday 04:43 AM
EUR/USD, DAX Forecast: DAX Surges to record highs as EUR/USD Consolidates
EUR/USD is consolidating, but optimism about falling interest rates and solid corporate performance has boosted the DAX to record highs above 18,600.
Dow Jones Forecast: DJIA steady, jobless claims & Fed speakers in focus
US stocks are set for a quiet open as the market weighs up more Fed officials supporting high rates for longer, with signs of a cooling jobs market. US jobless claims rose by more than expected, which, after Friday's softer non-farm payroll, could indicate that the labour market is starting to ease. Earnings continue to roll in with Arm falling after FY 2025 revenue guidance disappointed.
Crude oil analysis: Have oil prices formed a low?
WTI formed a bullish signal Wednesday after the DoE reported a drop in stockpiles, while the uptick in refinery utilization rate was welcome news ahead of the US driving season. Meanwhile, oil prices may also be closer to bottom as investors have now mostly priced out the risk of a wider conflict in the Middle East.
GBP/USD, USD/JPY Forecast: Two trades to watch
GBP/USD falls ahead of the BoE rate decision. USD/JPY rises despite a more hawkish BoJ.
How US government bond auctions work and why they’re important to financial markets
Bond markets make the financial world go round, helping to grease the wheels of commerce, allowing the economy activity to expand. But when too much debt is issued, it can overwhelm demand, causing borrowing costs to spike which can be detrimental to the economy.
GBP/USD key levels into BOE, silver considers its next breakout
The big question for today is if the BOE will satisfy bearish market positioning with enough dovish talk to prevent shorts from covering, and inadvertently sending GBP/USD higher.
NZD/USD: US dollar corrective bounce looks mature, Kiwi upside favoured
The New Zealand dollar has been holding up well despite USD strength, continuing to find bids below .6000. With downside price momentum starting to ebb, grounds are building for near-term NZD/USD upside.
Shorting crude oil could be getting ‘long’ in the tooth
Oil bears have been busy over the past few weeks helping to send crude oil prices over 12% lower since the April highs. Yet recent price action suggests it could be set for a bounce.
USD ‘rebound’ lacks the enthusiasm of last week’s selloff: Asian Open
The US dollar may have risen for a third day, yet bulls lack the conviction that bears displayed last week. And that suggests this bounce could be corrective.
Gold forecast remains bullish despite dollar strength this week
The greenback was higher again at the time of writing, which partly explains the earlier weakness in metals prices. Despite that, though, gold and silver recovered from their earlier weaknesses along with equity indices once US investors entered the fray.
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