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
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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 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
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
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
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
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
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
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
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 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
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
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
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