News and analysis
GBP/USD, EUR/USD forecast: Here’s why the US dollar rally has stalled
The US dollar rally has stalled, and the longer is fails to extends its gains the greater the odds of a pullback. For today, flash PMIs have placed GBP/USD and EUR/USD into focus.
Gold, silver: Buying the dip needs a health warning given heavy price action
The bigger the rally the harder the fall? Traders dabbling in the precious metals space may be asking that exact question with gold and silver extending their losses on Tuesday after a brutal start to the week.
Gold’s worst day in two years, Crude oil eyes bounce above $80: Asian Open
There has been a shakeup at the top for gold, which opened the week at the high and closed the day at the low during its worst day in two years. We also look at a potential swing trade long on WTI crude oil.
Banking news
Trade ideas
AUD/USD forecast: Bullish reversal may have legs before key inflation update
Whether you want to call it a bullish hammer, dragonfly doji, false break or morning star, the price action on the AUD/USD daily suggests the path of least resistance is higher in the near-term.
British Pound Forecast: GBP/USD Hits 2024 Lows, Traders Continue to Sell Rallies
GBP/USD remains in “sell rallies” mode, so bullish readers will want to be nimble against a broader backdrop that favors more downside from here.
Crude oil outlook remains positive despite reduced war risk
Crude oil demand outlook will come into a sharp focus this week with the release of the global manufacturing PMI data, US GDP and the Fed’s preferred measure of inflation this week. Still, Middle East tensions remain the key driver of short-term price action. Meanwhile, WTI technical analysis suggests the longer-term trend is still bullish.
S&P 500 Forecast: SPX rises ahead of key tech earnings this week
US stocks are set to open higher after steep losses across the previous week. The S&P500 fell over 3% last week and the Nasdaq 6% amid expectations that the Fed will keep rates high for longer. Attention this week is turning to tech earnings, with Tesla, Meta, Alphabet, and Microsoft reporting earnings. US core PCE and Q1 GDP data later in the week will also be in focus.
USD/JPY analysis: Currency Pair of the Week - April 22, 2024
US GDP, Core PCE and BoJ policy are among the risk events this week for the USD/JPY currency pair, as the focus turns to sticky inflation and elevated interest rates narrative from Middle East concerns for now. USD/JPY technical analysis point to a potential rally above 155.00.
EUR/USD, Oil Forecast: Two trades to watch
EUR/USD rises, but gains could be limited with ECB President Lagarde’s speech in focus. Oil falls as Middle East tensions ease & the demand outlook deteriorates.
GBP/USD: Selling squeezes as bearish fundamentals and technicals combine
Divergent economic and monetary policy outlooks for the US and UK continue to weigh on GBP/USD, making the case for downside a far easier sell than for upside right now.
EUR/USD, Gold, Crude Oil, 2-year note analysis: COT report
EUR/USD futures traders are on the cusp of flipping to net-short exposure, and managed funds are increasing their short exposure to gold and crude oil.
Gold price forecast: Sustainable bull markets need to breathe occasionally
The inverse relationship between bond yields and US dollar with the gold price has broken down in 2024, meaning technicals and inflation expectations are arguably a more important driver right now.
Weekly equities forecast: Tesla, Lloyds & Barclays earnings preview
S&P 500 and the FTSE fell last week after the market pushed back Fed rate cut expectations and as geopolitical tensions hurt risk sentiment. Look ahead; US core PCE will be a key focus next week, as well as earning season with Tesla earnings and UK bank's earnings.
Recommended topics
Forex
Shares
Indices
Commodities
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
For further details see our full non-independent research disclaimer and quarterly summary.