News and analysis
DAX, USD/JPY Forecast: Two trades to watch
DAX rises with German IFO business sentiment data in focus. USD/JPY inches higher despite intervention threats and ahead of US durable goods orders.
Australian dollar setups following hot inflation print: AUD/JPY, EUR/AUD, GBP/AUD
It’s not just AUD/USD and the RBA interest rate outlook that have been shaken up by Australia’s hot March quarter inflation report with the Australian dollar gaining sharply against the crosses, especially those currencies whose central banks are still expected to ease monetary policy this year.
Bitcoin’s forecast: BTC rebound seems unconvincing
Momentum may have turned higher for bitcoin this week, yet it lacks the trading volumes usually associated with a strong rally.
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AUD/USD surges on uncomfortably high inflation update as RBA rate cut bets evaporate
AUD/USD is charging higher, powered by a hotter-than-expected Australian March quarter consumer price inflation report that has seriously dented the case for rate cuts from the Reserve Bank of Australia this year.
US dollar correction kicks in, AUD/USD firm ahead of CPI: Asian Open
The US 2-year bond yield remains support, which is capping the yield at 5% and weighed on the US dollar. And that helped AUD/USD rise for a second day ahead of a key AU CPI report.
US dollar stumble a tremor before the true FX earthquake hits
If you’re waiting for economic events outside the United States to spark the next wave of currency market volatility, you’re looking in the wrong place. Because in the absence of a black or grey-swan type event, it will almost certainly come from within the United States.
EUR/USD analysis: Technical Tuesday - April 23, 2024
It has been a risk-on session so far, with equity indices rising sharply for the second consecutive day ahead of Tesla’s earnings tonight and other big tech companies reporting this week. Also on the rise today have been markets such as crude oil, the EUR/USD and even the GBP/USD. Sentiment was lifted by stronger PMI data from the services sector in Europe and UK, alleviating growth concerns even if the manufacturing sector PMI continued to remain depressed.
Nasdaq 100 Forecast: QQQ rises ahead of Tesla earnings
US indices point to a stronger start as corporate earnings continue to roll in. Earnings are providing a welcomed distraction after worries over the Fed keeping rates high for longer hurt sentiment last week. US PMI data is due shortly and is expected to show business activity grew at a faster pace. Tesla is due to report after the close after the EV maker's deliveries fell in Q1 and as the share price trades down 40% this year.
Gold analysis: Can metal start rising again now?
Has gold selling already or nearly done? Gold remains fundamentally supported in the long term, although there is room for further correction. Gold technical analysis shows prices are no longer as overbought as a couple of weeks ago.
FTSE, EUR/USD Forecast: Two trades to watch
FTSE rises to a record high as the GBP struggles around a 5-month low. EUR/USD looks to PMI data.
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.
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