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Markets Weekly Outlook - ‘Magnificent 7’ Earnings, BoJ Meeting and US Jobs Data

Markets are in a holding pattern as investors weigh risks and uncertainties ahead of a busy week filled with key events. The US election is drawing closer, and markets may react to the possibility of a Trump victory, which could lead to a rise in the US Dollar and inflation expectations. The Bank of Japan (BoJ) meeting is a highlight in Asia, with market expectations leaning towards no rate hike. In the UK, the first budget by the Labor Party under Chancellor Rachel Reeves is highly anticipat

25-10-2024 12:43 GMT by Zain Vawda

Pound higher despite weak PMI data

The British pound is steady on Friday. In the European session, GBP/USD is trading at 1.2986, up 0.07% on the day. UK PMIs decelerate in October UK PMI releases on Thursday pointed to weaker activity in October in the manufacturing and services sectors.

25-10-2024 08:22 GMT by Kenneth Fisher

Tokyo Core CPI complicates BoJ’s rate plans

The Japanese yen is showing limited movement on Friday. In the European session, USD/JPY is trading at 151.94, up 0.09%. Tokyo Core CPI falls below BoJ's target Tokyo Core CPI, a leading indicator of inflation trends in Japan, fell to 1.8% y/y in October, down from 2% in September and just above the market estimate of 1.7%.

25-10-2024 05:21 GMT by Kenneth Fisher

USD/JPY Technical: 4-week of JPY persistent weakness led by political factors

The recent movement of the USD/JPY has been influenced primarily by political factors. The JPY has weakened significantly due to the growing risk that the current LDP-led coalition may lose its majority seats after this Sunday, 27 October snap election. Watch the 151.10 key short-term support on the USD/JPY. This is a follow-up analysis of our prior report “USD/JPY Technical: Potential bearish reversal in US dollar strength below 200-day moving average” published on 21 October 2024. Click here

25-10-2024 05:18 GMT by Kelvin Wong

Navigating the Next Chapter: US Stock Market Outlook Amidst Economic Indicators and Global Risks

The US stock markets have steadily climbed since the 2008 financial crisis, achieving a remarkable 740% growth between 2009 and 2024. This upward trajectory, while occasionally disrupted by events like COVID-19 and the Ukraine War, has consistently rebounded, defying recession predictions and showcasing market resilience.

24-10-2024 11:45 GMT by Moheb Hanna

EUR/USD Update - Technicals Hint at Bounce but Acceptance Above 1.08 is Key

EUR/USD saw early gains on Thursday but fell as US PMI data exceeded expectations. Diverging economic paths and monetary policies between the US and Eurozone could impact EUR/USD. Technical analysis suggests a potential bullish move for EUR/USD, despite fundamental factors favoring the US Dollar. Most Read: Gold (XAU/USD), Silver (XAG/USD) Print Fresh Highs as the DXY Eyes 105.00 The Euro has lost some of its early Thursday gains as US PMI data exceeded expectations. A weaker US Dollar has help

24-10-2024 11:27 GMT by Zain Vawda

GBP/USD Technical: Bounce off Key Confluence Level Post PMI, Further Gains in Store?

GBP/USD saw a bounce despite weak UK PMI data, attributed to US Dollar weakness. The Bank of England may consider interest rate cuts due to slowing inflation, potentially weakening the Pound Sterling. GBP/USD technical analysis shows potential for a bullish bounce, but a break below the trendline could lead to a larger correction.

24-10-2024 08:34 GMT by Zain Vawda

BoC chops rates by 50 basis points, Canadian dollar calm

The Canadian dollar is in negative territory on Wednesday. In the North American session, USD/CAD is trading at 1.3844 at the time of writing, up 0.20%.

23-10-2024 10:30 GMT by Kenneth Fisher

EUR/USD dips to 11-week low

The euro is down for a third straight day on Wednesday. In the European session, EUR/USD is trading at 1.0767, down 0.29% on the day.

23-10-2024 08:05 GMT by Kenneth Fisher

AUD/CAD Technical: BoC jumbo cut of 50 bps may have already been fully priced in

The Canadian dollar has weakened against most major currencies (except against the JPY) in the past four weeks. Short-term FX positioning suggests that the expected BoC’s 50 bps cut may have been fully priced in. Watch out for a potential short-term mean reversion decline in the AUD/CAD cross pair.

23-10-2024 07:39 GMT by Kelvin Wong

Gold (XAU/USD), Silver (XAG/USD) Print Fresh Highs as the DXY Eyes 105.00

Gold and Silver prices reach new highs amidst a rising US Dollar, driven by global uncertainties and a potential Trump Presidency. Silver's demand/supply dynamics bode well for further gains. The US Dollar Index (DXY) strengthens due to positive economic data and fading rate cut expectations, with a potential rise to 105.00.

23-10-2024 07:03 GMT by Zain Vawda

Yen slides as IMF cuts Japan’s growth estimate

The Japanese yen has posted sharp losses on Wednesday. In the European session, USD/JPY is trading at 152.67, up 1.06% at the time of writing.

23-10-2024 06:00 GMT by Kenneth Fisher

EUR/USD shrugs after Lagarde says disinflation on the right track

The euro is showing limited movement on Tuesday. In the North American session, EUR/USD is trading at 1.0806, down 0.07% on the day.

22-10-2024 13:22 GMT by Kenneth Fisher

S&P 500, Nasdaq 100 - US Indices Eye Recovery as Earnings and Yields Weigh on Markets

Major US stock indexes are struggling due to a combination of factors, including US earnings reports and hawkish comments from Federal Reserve policymakers. Earnings season has seen mixed results, with some companies exceeding expectations (like General Motors) and others falling short (like Verizon and GE Aerospace). The Dow Jones Industrial Average is showing potential for further upside, while the Nasdaq 100 remains rangebound. Most Read: Brent Crude – Oil Rises on China Rate Cuts but Middle

22-10-2024 13:14 GMT by Zain Vawda

Brent Crude - Oil Rises on China Rate Cuts but Middle East Uncertainty Lingers

Oil prices rose due to Chinese rate cuts and Middle East uncertainty. The IMF downgraded its global growth forecast to 3.2%. Technically, Further upside is possible if conditions remain consistent. Geopolitics remains key. Most Read: USD/CHF Technical Outlook: Pullback Before Continuation? Oil prices are enjoying a mini renaissance to start the week thanks to Chinese rate cuts and the ongoing and ever changing situation in the Middle East.

22-10-2024 10:40 GMT by Zain Vawda

Canadian dollar flat, BoC poised to cut rates

The Canadian dollar is unchanged on Tuesday. In the European session, USD/CAD is trading at 1.3831 at the time of writing.

22-10-2024 06:11 GMT by Kenneth Fisher

Gold Technical: Bullish acceleration in progress reinforced by “Trump Trade”

Republican president nominee Donald Trump prospect of winning the White House has increased in the past week based on data from betting markets. Resurgence of “Trump Trade” narrative has triggered a positive feedback loop into Gold (XAU/USD). An increase in tail-risk hedging activities also led to higher demand for Gold (XAU/USD). Watch the US$2,590 key medium-term support on Gold (XAU/USD)

22-10-2024 04:08 GMT by Kelvin Wong

EUR/USD lower, ECB’s Kazimir confident in ‘disinflation path’

The euro has edged lower on Monday. In the North American session, EUR/USD is trading at 1.0838, down 0.24% on the day. ECB’s Kazimir says disinflation continuing The European Central Bank lowered its key interest rate last week by a 25 basis points to 3.25%, the first back-to-back rate cuts since December 2011.

21-10-2024 10:41 GMT by Kenneth Fisher

USD/CHF Technical Outlook: Pullback Before Continuation?

USD/CHF is showing potential for bullish continuation. The Swiss National Bank may welcome a weaker CHF due to pressure from the swiss export sector. Upcoming US data and geopolitical events, including the IMF meeting and US election, could impact USD/CHF. Most Read: Markets Weekly Outlook – PMI Data and IMF Meeting Dominate the Agenda s eyeing an extended move to the upside as it hovers around a support area on Monday. Safe Haven appeal appears to be keeping the Swiss Franc supported at presen

21-10-2024 09:25 GMT by Zain Vawda

USD/JPY edges lower, China cuts lending rates

The yen is slightly lower on Monday. In the European session, USD/JPY is trading at 149.96, up 0.30%. China lowers key lending rates by 25 basis points. China cuts key lending rates China lowered its key lending rates by 25 basis points on Monday.

21-10-2024 08:25 GMT by Kenneth Fisher

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