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Crude Oil Forecast: The Two Key Reasons WTI and Brent Oil Are Breaking Support Levels
Rising inventories and a recovery in the US dollar are driving the latest bout of weakness in WTI and Brent crude oil prices.
Dow Jones Forecast: DJIA inches lower as treasury yields rise
US stocks are pointing to a modestly weaker start as the market continues to assess when the Federal Reserve may start to cut interest rates and by how much. Comments from Fed speakers yesterday raised questions over whether the Fed would cut at all in 2024. In the absence of economic data, Fed speakers remain under the spotlight today. Attention is also on earnings, with Uber set to open lower after posting a loss.
GBP/USD forecast: Currency Pair of the Week – May 8, 2024
GBP/USD forecast: All eyes on BoE policy decision, before attention turns to UoM consumer sentiment and inflation expectations data on Friday, before CPI data next week.
Banking news
Trade ideas
GBPUSD Forecast: Support Levels and Pre-BOE Sentiment
GBPUSD Forecast: doves add new lows to the GBPUSD pair as the British Pound Currency Index holds at a 6-month support zone
EUR/USD, FTSE Forecast: Two trades to watch
EUR/USD falls on concerns over the German recovery and hawkish Fed comments. The FTSE rises to fresh all-time highs ahead of tomorrow's BoE rate decision.
USD/JPY, GBP/USD, gold forecast: Technical levels for May 8, 2024
GBP/USD could extend its losses despite the US dollar 'rebound' already losing steam, whilst gold's base looks set for a bullish breakout and USD/JPY might achieve another leg higher before it tops. In my opinion, at least.
AUD/USD snaps 4-day winning streak, ASX 200 set to follow? Asian Open
The Australian dollar handed back all of its pre-RBA gains, which was trying to notch up a fifth consecutive bullish day on anticipation of a more hawkish RBA. Yet the statement was not overly hawkish and Governor Bullock said the RBA “believe rates are at the right level to get inflation back to target”. Inflation was revised higher to show inflation falling back to target at a slower pace and the RBA remain “vigilant” to upside risks.
Japanese Yen Forecast: USD/JPY Caught Between Key Levels at 152 and 155
USD/JPY is bouncing between two previous supposed “lines in the sand” for Japan’s Ministry of Finance at 152.00 and 155.00, but the risks may be tilted to more upside from here.
Crude oil analysis: Could oil prices stage a recovery?
Our crude oil analysis suggests prices may bounce back after having fallen sharply in recent weeks amid waning risks of supply disruptions in the Middle East.
S&P 500 Forecast: SPX edges higher ahead of Fed speakers
US stocks are pointing to a modestly higher start as more earnings roll in and as expectations for Federal Reserve interest rate cuts remain in focus and after Disney earnings fail to impress. The US economic calendar is light today, so attention will be on Fed speakers and corporate updates. Disney is set to open 4% lower despite posting EPS of $1.21 vs the $1.10 expected.
GBPUSD Analysis: Economic Optimism Meets Dovish BOE Outlook
GBPUSD Analysis: Growth indicators soar, inflation stays on course, and eyes are on the upcoming BOE decisions.
Gold and silver analysis: Grey metal poised for fresh breakout
Silver breaks bull flag resistance trend to signal potential trend resumption following the big rally in early last month.
EUR/USD, Oil forecast: Two trades to watch
EUR/USD falls after weak German data & with retail sales in focus. Oil rises ahead of inventory data.
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