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Russell 2000: On sight for a potential fresh all-time high

Russell 2000 outperformance against S&P 500 and Nasdaq continued to persist since Q3 2024. The recent monthly Russell 2000 stellar performance of 10.8% in November has been reinforced by the incoming Trump administration’s “America First” policy. Watch the 2,288 key medium-term support on the Russell 2000. This is a follow-up analysis of our prior report, “Russell 2000: Soft to no-landing is supporting another bullish upleg” dated 7 October 2024. Click here for a recap. Since our last publicat

02-12-2024 05:11 GMT by Kelvin Wong

Markets Weekly Outlook - US Dollar's Fate Hinges on NFP as Fed Rate Cut Looms

US equities finished strong, driven by tech and retail stocks, with the S&P 500 reaching record highs. The US dollar weakened due to increased expectations of a December rate cut by the Federal Reserve. The upcoming week's focus is on US jobs data, which could impact the Fed's decision and the US dollar's performance.

29-11-2024 13:35 GMT by Zain Vawda

Euro shrugs after eurozone inflation rises

The euro is showing little movement on Friday. In the European session, EUR/USD is trading at 1.0564, up 0.09%.

29-11-2024 07:03 GMT by Kenneth Fisher

Canadian dollar calm ahead of GDP

The Canadian dollar has been quiet over the past two trading days but that could change today with the release of Canada’s GDP report. In the European session, USD/CAD is trading at 1.4005, down 0.27%.

29-11-2024 06:06 GMT by Kenneth Fisher

USD/JPY Technical: Potential start of a medium-term corrective decline

Yen strength continued to persist reinforced by an uptick seen in the leading Tokyo’s core-core inflation rate as it rose to 1.9% y/y in November. Japan’s overnight swap rates have indicated an increase in odds that BoJ may hike its short-term policy interest rate again in the upcoming 18-19 December meeting. Watch the 149.30 intermediate support (potential downside trigger) on the USD/JPY. Earlier this week, we published two reports that highlighted the potential looming yen strength against o

29-11-2024 04:45 GMT by Kelvin Wong

Yen soars as Japan’s core inflation jumps

The Japanese yen has surged higher on Friday after a strong inflation release. In the European session, USD/JPY is trading at 150.19, down 0.87% on the day.

29-11-2024 03:39 GMT by Kenneth Fisher

Swiss central bank eyes GDP

The Swiss franc has posted slight gains on Thursday. In the North American session, USD/CHF is currently trading at 0.8829, up 0.12% on the day.

28-11-2024 12:39 GMT by Kenneth Fisher

Euro steady as German CPI rises to 2.2%

The euro has lost ground on Thursday. In the North American session, EUR/USD is down 0.11%, trading at 1.0554 at the time of writing.

28-11-2024 10:46 GMT by Kenneth Fisher

Yen rally fizzles, Tokyo Core CPI expected to rise

The Japanese yen is lower on Thursday, after climbing 2.4% over the past two trading sessions. In the European session, USD/JPY is trading at 151.83, up 0.57% on the day.

28-11-2024 05:09 GMT by Kenneth Fisher

British pound jumps, US PCE inflation meets expectations

The British pound has posted sharp gains on Wednesday. In the North American session, GBP/USD is trading at .1.2669, up 0.81% on the day. There are no UK releases today, but in the US it’s a busy data calendar.

27-11-2024 11:42 GMT by Kenneth Fisher

USD/JPY Price Outlook - Yen Extends Gains as Key Confluence Level Approaches

The Yen strengthens against the US Dollar amid growing expectations of a December rate hike by the Bank of Japan (BoJ). Market sentiment is shifting towards a BoJ policy normalization, with a 61% probability priced in for a 25 bps hike. US economic data has added to USD weakness today aiding Yen gains. USD/JPY approaches a key confluence support area between 150.80 and 150.00. Most Read: Trading GBP/USD: Key Levels to Watch Ahead of US Data USD/JPY has continued its decline today as US Dollar w

27-11-2024 10:07 GMT by Zain Vawda

Australian dollar steady after Australia’s CPI dips

The Australian dollar is showing little movement after Australia released the October inflation report. In the European session, AUD/USD is trading at 0.6478, up 0.06% on the day. Australia’s inflation rate lower than expected at 2.1% The Australian consumer price index rose 2.1% y/y in October, unchanged from September.

27-11-2024 08:19 GMT by Kenneth Fisher

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CAD/JPY Technical: Another falling domino yen cross rattled by Trump’s tariffs threat

A higher beta CAD/JPY cross pair can be considered as a macro theme play in line with a potential risk-averse environment triggered by Trump’s trade tariffs. Technical analysis suggests a potential new medium-term downtrend phase for CAD/JPY. Watch the 111.45 key medium-term resistance on the CAD/JPY.

27-11-2024 04:46 GMT by Kelvin Wong

NZD/USD slides after Fed rate cut, NZ GDP next

The New Zealand dollar has ended a five-day losing streak on Wednesday. In the European session, NZD/USD is trading at 0.5887, up 0.9% on the day. RBNZ chops rates by 50 basis points The Reserve Bank of New Zealand lowered its cash rate by 50 basis points today in a widely-expected decision.

27-11-2024 04:25 GMT by Kenneth Fisher

Trading GBP/USD: Key Levels to Watch Ahead of US Data

GBP/USD is stuck in a tight range, reflecting market indecision. Upcoming US data releases, including GDP and PCE data, could trigger a breakout from the range. The US Dollar Index's performance will heavily influence GBP/USD's movements. Most Read: S&P 500 Eyes Fresh All-Time Highs Despite Trump Tariff Threats. 6500 by Year End? Cable has continued to consolidate in a 100 pip range this week with yesterday a prime example of the indecision at play.

27-11-2024 03:42 GMT by Zain Vawda

New Zealand dollar eyes RBNZ rate announcement

The New Zealand dollar is in positive territory on Tuesday, after a four-day losing streak. In the European session, NZD/USD is trading at 0.5850, up 0.09% on the day.

26-11-2024 09:00 GMT by Kenneth Fisher

Australian dollar under pressure, CPI next

The Australian dollar declined as much as 1% on Tuesday before recovering these losses. In the European session, AUD/USD is trading at 0.6497, down 0.1% on the day.

26-11-2024 08:14 GMT by Kenneth Fisher

Yen edges higher after mixed inflation data

The Japanese yen has been relatively quiet for over a week and the trend has continued on Tuesday. In the European session, USD/JPY is trading at 153.79, down 0.25% on the day. BoJ Core CPI dips, services inflation ticks higher Japan release mixed inflation numbers on Tuesday.

26-11-2024 06:18 GMT by Kenneth Fisher

AUD/JPY Technical: Trump trade tariffs tantrum may spark a sell-off yen cross pairs

US President-elect Trump used his Truth Social network to announce his latest tariff threats. Trump vowed to impose 10% additional tariffs on China exports to the US and 25% tariffs on all products from Mexico and Canada. The recent two-month rally seen in AUD/JPY has flashed out bearish technical elements.

26-11-2024 06:11 GMT by Kelvin Wong

Brent Crude - Oil Eyes Recovery as OPEC + Deliberate Oil Cut Rollover

Oil prices rose in early European trade following a drop on Monday. OPEC+ is set to meet on December 1st to discuss a potential oil cut rollover into 2025. Technically, Brent Crude has been in a tight range, with key support and resistance levels identified. Most Read: Gold’s (XAU/USD) Sharp Drop: Ceasefire Optimism and Bessent’s Impact on Markets

26-11-2024 05:22 GMT by Zain Vawda

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