The Australian dollar is calm on Monday. In the European session, AUD/USD is trading at 0.6689, down 0.18%.
21-10-2024 06:59 GMT
by Kenneth Fisher
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USD/JPY has rallied by 7.7% from the 16 September 2024 low with three key risk events/data for this week (Japan’s flash PMI, Tokyo CPI & general election).
The recent 4-week rally in the USD/JPY has displayed exhaustion conditions.
Watch the 148.95 key intermediate support.
This is a follow-up analysis of our prior report “USD/JPY Technical: Recent mean reversion rebound in US dollar strength may have hit a ceiling” published on 4 October 2024.
21-10-2024 05:11 GMT
by Kelvin Wong
Global markets are reacting to shifts in central bank policies, with the US dollar strengthening and rate cut expectations changing.
The upcoming week will be busy with the IMF meeting, PMI data releases, central bank announcements, and US earnings reports.
The US Dollar Index is in focus as technical factors may play a more significant role in its movement amidst a lighter data week.
18-10-2024 14:13 GMT
by Zain Vawda
Gold prices surged past $2700/oz fueled by expectations of global rate cuts and escalating geopolitical tensions in the Middle East.
The London Bullion Market Association's bullish prediction of $2941/oz gold price in 12 months.
Technically, gold is overbought, but the threat of an Israeli strike on Iran could limit downside risks.
Most Read: S&P 500, Nasdaq 100 – Wall Street Indexes Rise as TSMC Leads Chip Stock Rally, Where to Next?
18-10-2024 09:29 GMT
by Zain Vawda
The Australian dollar is up for a second straight day on Friday. In the European session, AUD/USD is trading at 0.6712, up 0.24%.
18-10-2024 07:50 GMT
by Kenneth Fisher
The euro can’t find its footing and has tumbled 2.7% in October. EUR/USD has stabilized on Friday and is trading at 1.0835 in the European session, up 0.05%.
18-10-2024 06:51 GMT
by Kenneth Fisher
The British pound has extended its gains on Friday. In the European session, GBP/USD is trading at 1.3046, up 0.27% on the day.
UK retail sales stronger than expected
UK retail sales are moving in the right direction.
18-10-2024 05:24 GMT
by Kenneth Fisher
Wall Street indexes rebounded from Tuesday's selloff, driven by strong earnings from TSMC and positive economic data.
Nasdaq 100 approaches all-time highs, fueled by TSMC's success and AI demand.
Market sentiment remains optimistic, but concerns persist over high valuations.
Most Read: GBP Price Action Ideas: GBP/USD, GBP/JPY and EUR/GBP
17-10-2024 14:33 GMT
by Zain Vawda
A 25bps cut by the ECB is likely to have been fully priced in.
The current high expectation of another ECB rate cut in December faces an increased repricing risk.
Watch the 1.0780/0750 key medium-term support on the EUR/USD.
In the past four weeks, the EUR/USD has plummeted by 3.3% from its 25 September high of 1.1214 to today’s current intraday low of 1.0849 at this time of the writing ahead of the European Central Bank (ECB) monetary policy decision.
17-10-2024 07:25 GMT
by Kelvin Wong
The GBP has been declining against the USD due to softer-than-expected UK economic data, leading to expectations of more aggressive rate cuts by the Bank of England.
GBP/USD is at a crucial level of 1.3000, a break below which could lead to further downside.
GBP/JPY is showing signs of a potential breakout, with price coiling between the 100 and 200-day moving averages.
EUR/GBP is near the YTD low, with immediate resistance at 0.8400. The pair's future direction will depend on the GBP's strength
16-10-2024 14:08 GMT
by Zain Vawda
The US Dollar Index (DXY) continues to advance due to a lack of impactful US data and expectations of robust retail sales.
Donald Trump's comments on tariffs and the Federal Reserve's independence.
The DXY faces technical challenges, with the RSI in overbought territory, but the overall outlook remains bullish.
Most Read:
The US Dollar Index (DXY) continues its advance with the lack of high impact US data keeping the greenback on the front foot. A move lower in the DXY may need a batch of soft
16-10-2024 09:13 GMT
by Zain Vawda
The Canadian dollar is showing limited movement on Wednesday. In the European session, USD/CAD is trading at 1.3786 at the time of writing, up 0.09%.
16-10-2024 07:17 GMT
by Kenneth Fisher
Trump’s trade war 2.0 narrative & steep sell-off in ASML spooked the performances of the major US stock indices on Tuesday, 15 October.
Implied volatility in the US stock market, measured by the VIX tends to be highest in October based on data during past US presidential election years since 1992.
VIX/MOVE ratio has started to show outperformance of VIX.
The S&P 500’on-going 4-week rally has flashed out exhaustion conditions.
The S&P 500 shed 0.75% on Tuesday, 15 October after it printed its 4
16-10-2024 06:21 GMT
by Kelvin Wong
The British pound has finally showed some movement on Wednesday after a week of limited movement. In the European session, GBP/USD is trading at 1.2992, down 0.62% on the day.
16-10-2024 04:51 GMT
by Kenneth Fisher
Bitcoin's price surged to levels not seen since July, fueled by positive inflows and optimism around a potential bullish breakout.
Despite ETF inflows, actual demand for Bitcoin has been waning since March, according to Glassnode data.
Technical analysis shows Bitcoin facing resistance at various levels, with support levels identified in case of a price decline.
Robert Kiyosaki, a known Bitcoin enthusiast, predicts a market crash and a potential drop in Bitcoin's price to $5,000.
15-10-2024 13:50 GMT
by Zain Vawda
The British pound has been showing limited movement for over a week. In Tuesday’s North American session, GBP/USD is trading at 1.3086, up 0.13% on the day.
UK inflation expected to decline to 1.9%
The Bank of England has largely won the battle against inflation, which has fallen from double digits at its peak to just 2.2% in August and July.
15-10-2024 12:42 GMT
by Kenneth Fisher
Wall Street indexes showed positive momentum, driven by strong bank earnings reports.
Tech sector earnings, expected later in October, could further boost US indices.
S&P 500 technical analysis suggests potential bullish continuation with key resistance levels identified.
Most Read: Brent Crude – OPEC + Cuts Forecasts Again as Chinese Imports Fall, Brent Holds Above $78/Barrel
15-10-2024 09:04 GMT
by Zain Vawda
The Canadian dollar has declined against the US dollar for a tenth consecutive trading day and has fallen 2.1% in October. In Tuesday’s session, USD/CAD is trading at 1.3811 at the time of writing, up 0.11%.
Canada’s inflation rate expected to fall below 2%
Is the tough battle against inflation finally over?
15-10-2024 05:38 GMT
by Kenneth Fisher
Brent oil prices have recovered to $78.30 despite OPEC+ downgrading demand growth forecasts and falling Chinese imports.
China's oil imports fell for the fifth consecutive month in September stoking demand fears.
OPEC+ revised its global oil demand growth forecast for 2024 downwards for the third time.
Most Read: Gold (XAU/USD) Price Outlook: China Sends Mixed Signals Keeping Gold Prices Steady
14-10-2024 11:26 GMT
by Zain Vawda
The Canadian dollar can’t find its footing and is trading at nine-week low against the US dollar. In the North American session, USD/CAD is trading at 1.3792 at the time of writing, up 0.21%.
14-10-2024 10:31 GMT
by Kenneth Fisher