Oil’s Tug-of-War: Iran Tensions vs. Evergrande
On Wednesday, WTI crude futures dropped below $77 per barrel, undoing a 1.4% increase from the prior session, all while the U.S. readies itself to address a lethal attack on its troops in the Middle East.
Perhaps traders are concerned more about the liquidation of China Evergrande, raising worries about the...
Gold forecast: Crazy to expect rate cut tomorrow?
Mostly yes. Market consensus leans towards the U.S. central bank maintaining current interest rates following the conclusion of its two-day meeting tomorrow. However, the potential impact on the U.S. dollar and gold is likely to hinge on statements from Fed Chair Jerome Powell regarding expectations for a rate...
First opportunity AUD/USD
Australian inflation data released Tuesday evening, might make the AUD/USD the most interesting pair to watch this week. This is because inflation will likely come in higher than 4.0% still.
Less than 24 hours later, we then have the US Federal Reserve’s interest rate decision on Wednesday, which will be one of the most watched forex...
Gold rally unlikely after strong US GDP data?
The United States revealed a 3.3% annualized GDP for the three months ending in December earlier today, surpassing the market's 2.0% forecast.
The likelihood of an early-year Fed rate cut seems to have diminished even further now, helping curb weakness in the dollar. Given these market conditions, does a rally in...
Time to Brace for GDP (and USD) Downside Surprise?
This Thursday marks the release of the initial estimate for the fourth quarter of 2023 GDP in the United States. If predictions hold true, there will be a noticeable deceleration in economic growth, with the market anticipating an annualized growth rate of 2%, a significant drop from the previous quarter's...
AUD/USD Trade alert: Strong USD vs RBA's rate decision
Talk of a US$278 billion (1 trillion yuan) rescue package for Chinese shares might not be enough to support AUD/USD.
Countering this positive signal for the AUD is general US dollar strength, caused by a shift in the market regarding the likelihood of a March rate cut. At the turn of the year, it was priced...
Some analysts anticipate that Netflix's stock could reach a new 52-week high above $500 per share following the release of its fourth-quarter earnings report this Tuesday. The $506 mark is considered a target, representing the price it fell to at the beginning of 2022.
Positive sentiment towards Netflix has grown as profit estimates have been revised upward 17...
The three big events of this week will likely be the BoJ, BoC, and ECB interest rate decisions.
Even though we aren't expecting to see any rate cuts or rate rises from any bank, we are looking forward to the guidance that each will present alongside their respective decisions. The guidance might be enough to move the yen, Canadian dollar, or euro.
The...
A few weeks ago, there was widespread belief in the markets that the U.S. central bank would implement more than 160 basis points of easing in 2024. However, these expectations have substantially moderated since then, leading to a bearish reversal in the gold market.
Even today, Atlanta Federal Reserve President Raphael Bostic emphasized that he anticipates...
USD/JPY: Retests to kill momentum?
The USD/JPY experienced a notable surge from 144.50 as the week commenced, surpassing the 61.8% retracement level from the November-December downturn. It breached its 100-day MA, demonstrating a one-way move that resulted in a gain of 400 pips. Since the beginning of the year, the yen has incurred a loss exceeding 4%....
Outlook for EUR/USD: Davos Insights and Fed Speeches
Several ECB officials are expressing opposition to rate cuts, potentially helping to curb losses in the EUR/USD, which is currently testing the 61.8% Fibonacci level after a more than 0.7% drop.
Davos has prompted ECB officials to share their views on the Euro Area's prospects and their positions on the...
EUR/USD Analysis: Targeting a breakout to the downside?
The EUR/USD currency pair seems poised for a technical breakout.
Analysing the 8-hour chart reveals a consolidation phase since the start of the year, following a decline below 1.1000, with this mark acting as a resistance level on two occasions since then.
Currently, EUR/USD is resembling a...
3 currencies to watch this week: GBP, JPY, CAD
Our primary focus will be on the British Pound, as several significant reports are scheduled from Britain. On Tuesday, we have the unemployment rate, followed by the crucial inflation rate on Wednesday, and retail sales data on Friday.
This is why we will be watching some keys levels in the GBPUSD, including...
GBP/USD: Forecasting the Week Ahead
Following the latest US Consumer Price Index (CPI) data, keeping a close watch on upcoming public addresses from Federal Reserve officials is crucial for insights into the direction of the US dollar.
Given recent developments, traders shouldn't be surprised if central bank communication takes a more hawkish stance, signaling...
Will USDCHF breakout Tomorrow? (after US Inflation report)
USDCHF recently surpassed both its 50 and 100-hour moving averages, yet it remains confined within its 2024 trading range.
Fluctuations between risk-on and risk-off sentiments keep the pair moving between 0.84635 and 0.85294. Initially, bullish optimism followed comments from Atlanta Federal Reserve...
Gold: $2,025 - After US Inflation, What's Next?
Gold's short term prospects might be dependent on upcoming US inflation data for December. XAU/USD currently trades at $2,025, stepping back from an intraday high of $2,042.
On Thursday, the US will release the Consumer Price Index for December. The market is expecting a 0.3% monthly increase in Core CPI,...
The adage "buy the rumor and sell the news" might apply to Bitcoin with BlackRock and Fidelity’s potential Bitcoin ETF approval on the horizon.
In the event that the SEC denies the ETFs, market participants might eye downside targets below $41,500 and $41,250 if we get a wild swing to the downside.
Conversely, approval from the SEC may pave the way for an...
This week, the focus of many traders will be on US inflation data, which will provide valuable insights into the Federal Reserve's monetary policy outlook.
The forecasts indicate a potential 0.2% increase in both headline inflation for December and the core rate. On an annual basis, the headline inflation rate is anticipated to rebound to 3.2% from November's...
