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AUD/NZD: A dovish RBNZ may maintain Aussie outperformance over Kiwi

New Zealand's core inflation trend has decelerated at a faster pace than Australia. RBNZ may use tomorrow’s monetary policy meeting to offer dovish guidance and bring forward its projected first interest rate cut in H1 2025. A dovish hold by RBNZ may reinforce the continuation of the AUD/NZD medium-term bullish trend with key support at 1.0890/0840. On Wednesday, 14 August, the New Zealand central bank, RBNZ will announce its monetary policy decision.

13-08-2024 07:27 GMT by Kelvin Wong

GBP/USD Edges Higher as Wage Growth Hits Lowest Level in 2 Years

Unemployment rate fell to 4.2%, with a decrease in both short-term and long-term unemployment. UK wage growth slowed to its lowest level in two years, yet surpassed market expectations. Despite positive jobs data, BoE policymakers warn of potential inflation rebound in H2 2024, supported by a slight increase in grocery inflation. Cable edged higher but key resistance levels up ahead. Most Read: Brent Crude – Oil Advances as OPEC Cuts Demand Forecast Cable has continued to edge higher this morni

13-08-2024 04:57 GMT by Zain Vawda

Brent Crude - Oil Advances as OPEC Cuts Demand Forecast

Oil prices continue to rise despite OPEC cutting demand forecasts for 2024 and 2025. OPEC is likely to extend production cuts as the October deadline approaches, with Saudi crude oil exports to China expected to drop in September. The rally is fueled by easing US recession fears, but upcoming US data releases could shift market sentiment. A host of resistance levels up ahead. will the rally have the legs to continue?

12-08-2024 11:49 GMT by Zain Vawda

New Zealand dollar higher, focus on RBNZ

The New Zealand dollar has started the week with gains. NZD/USD is trading at 0.6026 in the North American session, up 0.45% at the time of writing. Will the RBNZ lower rates this week? The Reserve Bank of New Zealand meets on Wednesday and it’s a live meeting as the decision is expected to be a close call.

12-08-2024 11:09 GMT by Kenneth Fisher

British pound calm ahead of UK jobs report

The British pound is drifting on Monday. GBP/USD is trading at 1.2768 early in the North American session, up 0.08% on the day. Wage growth expected to slide The UK releases the employment report for the three months to June and we could see signs of a cooling labour market.

12-08-2024 10:39 GMT by Kenneth Fisher

Hang Seng Index: The medium-term bullish trend has been damaged

China’s lacklustre core consumer inflation growth for July suggests the current pace of piecemeal stimulus measures is not sufficient to eradicate deflationary pressures. The “non-abating” deflationary risk scenario pushed the 10-year China sovereign bond yield to a record low of 2.12% last Monday, 05 August. The price actions of the Hang Seng Index have traded below its 50-day and 200-day moving averages. This is a follow-up analysis of our prior report, “Hang Seng Index: Weak key China data

12-08-2024 06:43 GMT by Kelvin Wong

Australian dollar gains ground, eyes wage growth

The Australian dollar has started the week in positive territory. AUDUSD is trading at 0.6596 in the European session, up 0.41% on the day at the time of writing. Australian dollar recovers as markets stabilize The Australian dollar has quickly recovered from the recent turbulence which routed global stock markets.

12-08-2024 05:28 GMT by Kenneth Fisher

Markets Weekly Outlook - US CPI to Test Markets Following Tumultuous Week

US equities rebounded from a selloff earlier in the week, ending slightly higher. However, caution remains due to upcoming economic data releases. The Japanese Yen is heading for its first losing week in six, impacted by a peak in short-position unwinding and dovish BoJ comments. The upcoming week features significant data releases, including US and UK inflation, Chinese economic figures, and the RBNZ interest rate decision.

09-08-2024 14:39 GMT by Zain Vawda

Gold (XAU/USD) Remains Strong Above $2400/oz as Fed Hints at Upcoming Rate Cuts

Despite a stronger US Dollar yesterday, gold's upward trend continued, bolstered by the rate cut narrative. The technical outlook for gold indicates further upside potential, with prices possibly reaching between 2440 and 2450 during the US session. The longer-term outlook is supportive of gold prices as geopolitics, ETF flows and Central Bank Buying remain in play.

09-08-2024 07:37 GMT by Zain Vawda

Canadian dollar rallies, jobs report looms

The Canadian dollar has shined this week, posting gains over the past four days and rising 1%. Will the impressive rally continue?

09-08-2024 04:54 GMT by Kenneth Fisher

NZ Inflation Expectations dips, New Zealand dollar steady

The New Zealand dollar has recorded marginal gains on Thursday. NZD/USD is trading at 0.5998 in the North American session, up 0.05%.

08-08-2024 11:32 GMT by Kenneth Fisher

Aussie jumps as RBA says rates could rise

The Australian dollar has had a busy week and is showing strong gains on Thursday. In the European session, AUD/USD is trading at 0.6550, up 0.50% at the time of writing. RBA’s Bullock says rate hikes still on table Two days after the Reserve Bank of Australia held the cash rate, Governor Bullock reinforced her hawkish stance on monetary policy.

08-08-2024 09:32 GMT by Kenneth Fisher

Nikkei 225: Potential bullish key reversal week after 4 weeks of decline

Monday, 5 August significant sell-off in the Nikkei 225 has triggered a potential bullish key reversal inflection week. Citigroup Economic Surprise Index for Japan staged a positive turnaround on Monday, 5 August which suggests an improvement in macro data. The percentage of Nikkei 225 component stocks trading above their respective 200-day moving averages has reached an extremely low level; a potential capitulation of bearish pressure. Watch the 30,460 major key support on the Nikkei 225 This

08-08-2024 08:07 GMT by Kelvin Wong

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Japanese Yen (JPY) Price Action: Following Dovish BoJ Comments, What Does Price Action Tell Us?

The Bank of Japan (BoJ) released their summary of opinions, accompanied by bearish comments from BoJ policymakers. Geopolitical concerns could bolster the Yen, but the safe haven appeal might be divided among the US Dollar, Yen, and Swiss Franc. From a technical perspective, USD/JPY, GBP/JPY, and EUR/JPY have all rebounded strongly and formed an imperfect morning star candlestick pattern, which typically signals a bullish move. Most Read: S&P 500, Nasdaq 100 Technical Outlook: Sig

08-08-2024 06:35 GMT by Zain Vawda

S&P 500, Nasdaq 100 Technical Outlook: Significant Hurdles Ahead, Will the Rally Continue?

Pullbacks of 5% or more in the S&P 500 are relatively common, having occurred on average three times per year since 1930. Despite a recent market correction, the S&P 500 is still up 10% year-to-date, and the Nasdaq 100 is up 8.5% year-to-date. The S&P 500 faces technical resistance at the 100-day moving average (between 5330 and 5267), with further resistance expected at 5391 and 5500.

07-08-2024 13:55 GMT by Zain Vawda

Yen slides as BoJ dampens rate hike hopes

The Japanese yen’s rally came to crashing halt on Wednesday. USD/JPY has jumped 2.1%, trading at 147.41 in the North American session at the time of writing. BoJ deputy governor says no hikes during market unrest The Japanese yen has been on a tear, rising a massive 10.7% since July 11, prior to today.

07-08-2024 13:50 GMT by Kenneth Fisher

Canadian dollar keeps rally alive despite weak Ivey PMI

The Canadian dollar has rallied for a third straight day on Wednesday. In the North American session, USD/CAD is trading at 1.3729, down 0.41% on the day at the time of writing. Canada’s Ivey PMI decelerates Canada’s Ivey PMI, a useful gauge of economic activity, fell to 57.6 in July, down from 60.0 in June and shy of the market estimate of 62.5.

07-08-2024 11:48 GMT by Kenneth Fisher

NZ dollar surges on strong employment data

The New Zealand dollar has soared today. In the European session, NZD/USD is trading at 0.6018, up an impressive 1.1% at the time of writing. New Zealand job growth surprises on the upside New Zealand’s labour market has been cooling off due to elevated interest rates and the markets were braced for a soft jobs report for the second quarter.

07-08-2024 08:03 GMT by Kenneth Fisher

Oil Prices Near Recent Lows: Demand Concerns Keep Bulls at Bay

Oil prices remain subdued due to recession fears and demand concerns. US stockpiles unexpectedly increased, adding to the bearish sentiment, EIA data out later today. Geopolitical tensions in the Middle East and China's economic outlook are also contributing factors. Most Read: USD/CAD Targets 1.3740 Support as Canada’s Trade Balance Surges Oil prices continued to struggle yesterday as increasing recession fears kept bullish investors at bay. The prospect of a recession is exacerbating global d

07-08-2024 05:18 GMT by Zain Vawda

British pound slips to one-month low

The British pound has posted considerably on Tuesday. GBP/USD is trading at 1.2713 in the North American session, down 0.66% on the day.

06-08-2024 12:06 GMT by Kenneth Fisher

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