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EUR/USD Technical: Overstretched decline heading into ECB meeting

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

GBP Price Action Ideas: GBP/USD, GBP/JPY and EUR/GBP

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

US Dollar Index (DXY) Outlook: DXY Breaches the 100-day MA, Will the Rally Continue?

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

Canadian dollar breaks nine-day slide as CPI falls

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

SPX 500: First sign of volatility detected

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

GBP/USD drops below 1.30 on soft inflation report

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 (BTC/USD) Eyes a Breakout, Have the Stars Finally Aligned?

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

GBP/USD - will inflation data shake up the pound?

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

S&P 500, Nasdaq 100 - Wall Street Indexes Eye Further Gains as Earnings Filter Through

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

Canadian dollar can’t find its footing, Can. CPI next

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 Crude - OPEC + Cuts Forecasts Again as Chinese Imports Fall, Brent Holds Above $78/Barrel

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

Canada’s job growth sparkles but Canadian dollar falls

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

Pound eyes UK employment data

The British pound is coming off a quiet week and the lack of activity has continued on Monday. Early in the North American session, GBP/USD is trading at 1.3040, down 0.14% on the day. It’s a busy week in the UK, with the release of employment, inflation and retail sales.

14-10-2024 09:19 GMT by Kenneth Fisher

AUD/USD: Under downside pressure from China’s weak inflation

China's latest set of inflationary data for September increases the risk of a deflationary spiral being entrenched. China policymakers continued to use rhetoric to push out new fiscal stimulus policies but lacked details in terms of the amount and scope of implementation. An erosion of confidence in China's policymaking process may trigger a negative feedback loop into the AUD/USD. This is a follow-up analysis of our prior report “AUD/USD: The recent rally of the Aussie dollar may face a ceili

14-10-2024 07:11 GMT by Kelvin Wong

Gold (XAU/USD) Price Outlook: China Sends Mixed Signals Keeping Gold Prices Steady

Gold prices remain steady despite weak Chinese data, Risk-Off Start to the week. Market uncertainty and geopolitical tensions are supporting gold's safe-haven appeal. Key support and resistance levels to watch are identified. Most Read: Markets Weekly Outlook – ECB to Deliver 25 bps Rate Cut? Bank Earnings in Focus Gold prices held steady this morning as weak Chinese data renewed market concerns and led to a risk-off start to the week.

14-10-2024 07:06 GMT by Zain Vawda

NZ Dollar under pressure as services data disappoints

The New Zealand dollar is lower on Monday. In the European session, NZD/USD is trading at 0.6082, down 0.44%. Services PMI contracts for seventh straight month New Zealand’s economy has been struggling, and a key factor has been the contraction in the services sector.

14-10-2024 06:40 GMT by Kenneth Fisher

Markets Weekly Outlook - ECB to Deliver 25 bps Rate Cut? Bank Earnings in Focus

Market expectations for a Federal Reserve rate cut decreased following mixed US data signals. The European Central Bank's interest rate decision is a key event, with a 25 bps cut highly anticipated. The week ahead features CPI releases from several countries, including China and New Zealand, while US earnings season gathers pace with major banks reporting. Can the S&P 500 rally continue? Technical breakdown provided.

11-10-2024 13:34 GMT by Zain Vawda

USD/CAD pushes higher, Canadian employment next

The Canadian dollar has edged lower on Friday. In the European session, USD/CAD is trading at 1.3767 at the time of writing, up 0.19%. The Canadian dollar has hit a rough patch and is on a seven-day slide in which it has fallen 1.6%.

11-10-2024 07:07 GMT by Kenneth Fisher

Pound shrugs as UK economy grew by 0.2%

The British pound is showing little movement on Friday in what has been a very quiet week for the currency. In the European session, GBP/USD is trading at 1.3071, up 0.10% on the day and its lowest level. The UK economy showed slight improvement in August with a 0.2% m/m gain, after no growth in both June and July.

11-10-2024 05:57 GMT by Kenneth Fisher

US Dollar Index (DXY) Outlook: Dollar Bulls to Take a Breath or PPI Data to Extend Rally?

The US Dollar Index (DXY) is in an intriguing position after mixed price action and ahead of PPI data. The future of the dollar may be influenced by external factors like oil prices and Middle East tensions. Technically, the DXY is facing resistance and a potential pullback, but underlying fundamentals remain supportive.

11-10-2024 05:52 GMT by Zain Vawda

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