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GBP/USD Technical: Potential bullish reversal after 4-week slide as US CPI looms

This is a follow-up analysis of our prior report “GBP/USD Technical: Sterling bulls are in control” published on 27 August 2024. Click here for a recap. Since our last publication, the price actions of the GBP/USD have rallied and hit the lower limit of the first medium-term resistance zone of 1.3400/3505 (printed an intraday high of 1.3434 on 26 September).

10-10-2024 06:55 GMT by Kelvin Wong

USD/JPY steady after Fed minutes

The yen is calm on Thursday after sharp losses a day earlier. In the European session, USD/JPY is trading at 148.88, down 0.28%. Fed minutes: next cut will likely be 25 bps The Federal Reserve released the minutes from the September meeting on Wednesday.

10-10-2024 06:27 GMT by Kenneth Fisher

Australian dollar extends losses, Fed minutes loom

The Australian dollar continues to decline and is down for a fifth straight day. In the North American session, AUD/USD is trading at 0.6725, down 0.31%.

09-10-2024 12:07 GMT by Kenneth Fisher

GBP/USD Consolidates as Bulls Eye a Potential Short-Term Pullback

GBP/USD is currently range-bound, consolidating within a narrow 30-pip range. US CPI and PPI data releases on Thursday and Friday could introduce some volatility. From a technical standpoint, the medium-term outlook still favors USD bulls, but a short-term bounce in GBP/USD is looking appealing. Most Read: S&P 500, Nasdaq 100 – Futures Hold High Ground as US Considers a Breakup of Google GBP/USD is in uncharted territory if i may so with the pair confined to a 30 pip range since early Monday mo

09-10-2024 11:11 GMT by Zain Vawda

USD/JPY eyes Fed minutes

The yen has edged lower on Wednesday in what has been a quiet week. In the European session, USD/JPY is trading at 148.72, up 0.36%. Will Fed minutes provide clues for November meeting? The Federal Reserve will release the minutes of the September meeting later today.

09-10-2024 08:40 GMT by Kenneth Fisher

S&P 500, Nasdaq 100 - Futures Hold High Ground as US Considers a Breakup of Google

The US Justice Department may force Google to divest parts of its business due to antitrust concerns. S&P 500 and Nasdaq 100: Despite market uncertainty, these indexes had a strong day on Tuesday, recovering from Monday's losses. Following a disappointing update from the National Reform Commission in China, US-listed Chinese stocks like Alibaba, PDD Holdings, and JD.com experienced declines.

09-10-2024 08:00 GMT by Zain Vawda

New Zealand dollar sinks after RBNZ cuts by 50 bps

The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6079 in the European session, down 0.96% on the day. RBNZ slashes rates to 4.75% The Reserve Bank of New Zealand lowered the cash rate by 50 basis points on Wednesday to 4.75%.

09-10-2024 07:12 GMT by Kenneth Fisher

Gold (XAU/USD) Heads Toward $2600/oz Ahead of FOMC Minutes and US CPI

Gold prices fell in the US session after a positive European session, influenced by renewed US Dollar strength and concerns about China's economic slowdown. Despite the pullback, ETF demand for gold remains strong, and geopolitical risks in the Middle East persist, suggesting buying pressure remains. From a technical analysis perspective, gold has broken out of a recent range, and further support and resistance levels are identified.

08-10-2024 13:31 GMT by Zain Vawda

NZD/USD - RBNZ poised to cut, but how much?

The New Zealand dollar is down for a sixth straight day and has fallen 3.6% during that time. NZD has stabilized on Tuesday and is trading at 0.6120 in the North American session, down 0.07% on the day. RBNZ expected to chop rates by 50 bps The Reserve Bank of New Zealand meets on Wednesday and is widely expected to a cut rates, but by how much?

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

USD/CHF Technical Outlook: Confluence Area Hints at Bullish Breakout

USD/CHF is poised for a potential bullish move following a recent breakout, supported by a confluence of technical and fundamental factors. The Swiss National Bank's preference for a weaker CHF and the repricing of Fed rate cut expectations contribute to the bullish outlook. Upcoming US CPI and PPI data releases could further fuel the USD rally and drive USD/CHF to new highs. Most Read: Brent Crude – Oil Eyes $80 a Barrel as Geopolitical Concerns Linger, Libya Production Returns USD/CHF is eyei

08-10-2024 08:36 GMT by Zain Vawda

Australian dollar lower, RBA keeps options open

The Australian dollar has extended its losses for a sixth straight day and is down 2.5% during that period. In the European session, AUD/USD is trading at 0.6736, down 0.29%. RBA minutes: Board considered scenarios for raising and lowering rates The Reserve Bank of Australia released the minutes of its September meeting on Tuesday.

08-10-2024 08:13 GMT by Kenneth Fisher

Australian dollar falls ahead of RBA minutes

The Australian dollar has started the week in negative territory. In the North American session, AUD/USD is trading at 0.6760, down 0.40%.

07-10-2024 11:59 GMT by Kenneth Fisher

Brent Crude - Oil Eyes $80 a Barrel as Geopolitical Concerns Linger, Libya Production Returns

Oil prices are rising due to geopolitical tensions in the Middle East, particularly the potential for an Israeli attack on Iranian oil facilities. Despite increased Libyan oil production, prices continue to climb, indicating market sensitivity to potential supply disruptions. Experts predict that Brent crude could reach $90 or even $100 per barrel if Iranian oil exports are disrupted.

07-10-2024 10:45 GMT by Zain Vawda

USD/JPY soars as rate hike hopes chilled

The yen has stabilized after massive losses last week. In the North American session, the USD/JPY is trading at 148.03 at the time of writing, up 0.45%. Ishiba's U-turn sends yen reeling The yen is coming off a spectacularly bad week with a 4.5% decline.

07-10-2024 09:43 GMT by Kenneth Fisher

Pound falls to 3-week low, markets expect BoE cut in November

The British pound continues to lose ground on Monday after a dismal week. In the European session, GBP/USD is trading at 1.3063, down 0.48% on the day and its lowest level since October 12.

07-10-2024 07:35 GMT by Kenneth Fisher

Russell 2000: Soft to no-landing is supporting another bullish upleg

Better than expected US non-farm payrolls & unemployment rate for September have revived the soft to non-landing narrative. The Citigroup US Economic Surprise Index has improved significantly since August. The improvement in US economic growth prospects is likely to benefit the Russell 2000 at least in the medium-term. This is a follow-up analysis of our prior report, “Russell 2000: Another laggard catch-up play as UST yield curve bull steepening firms up” dated 16 July 2024. Click here for a r

07-10-2024 06:49 GMT by Kelvin Wong

Markets Weekly Outlook - Jobs Report May Lead to Cautious Fed, US CPI Next

Strong US jobs report shifts Fed rate cut expectations from 50 bps to 25 bps. Geopolitical tensions in the Middle East drive up oil prices and safe-haven assets. Upcoming US inflation data and RBNZ rate decision in focus for the week ahead. Oil prices surge on Middle East tensions, with key support and resistance levels identified.

04-10-2024 16:26 GMT by Zain Vawda

USD/JPY Technical: Recent mean reversion rebound in US dollar strength may have hit a ceiling

The recent week of Japanese yen weakness is likely driven by “political jawboning” The current jump in the JPY implied volatility index has reached an overstretched condition that suggests a potential pause in the recent USD/JPY’s up move. A break below 143.60 intermediate support on the USD/JPY may trigger renew weakness. This is a follow-up analysis of our prior report “USD/JPY Technical: Mean reversion rebound in progress within a medium-term downtrend” published on 23 September 2024.

04-10-2024 06:16 GMT by Kelvin Wong

NFP Preview - US Jobs Report and Potential Impact on the S&P 500

US Non-Farm Payroll (NFP) data release is highly anticipated amidst shifting expectations of a Fed rate cut. Market predictions for the NFP report vary, with analysts split on expected figures. S&P 500 technical analysis reveals a bullish triangle pattern, will the bulls finish the week strong?

04-10-2024 05:54 GMT by Zain Vawda

US Dollar Index (DXY) Extends Gains, BoE Governor Bailey Remarks Weighs on GBP/USD

The US Dollar Index (DXY) has seen a strong rally this week, fueled by expectations of a 25 bps Fed rate cut in November and safe-haven flows amid rising Middle East tensions. Meanwhile, the GBP/USD pair experienced a sharp selloff following comments by BoE Governor Bailey. The NFP report and US unemployment rate will be key catalysts for both the DXY and GBP/USD tomorrow. Most Read: JPY Price Action Ideas: EUR/JPY, GBP/JPY and USD/JPY US Dollar Index Starts Q4 with a Bang

03-10-2024 13:12 GMT by Zain Vawda

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