All Articles

Gold Technical: Medium-term uptrend remains intact but risk of minor pull-back

Today’s early Asian session's swift rally to a fresh all-time high is likely to be driven by a thin liquidity trading environment rather than the Israel-Hamas geopolitical war risk premium. Spot Gold’s portfolio hedging role may gain traction as global recession risk resurfaces. Medium-term uptrend phase remains intact but may shape a minor pull-back below US$2,152 key short-term pivotal resistance with immediate supports at US$2,032/2,018. This is a follow-up analysis of our prior report, “Gol

04-12-2023 00:59 GMT by Kelvin Wong

Brent Crude - Oil volatile near lows after OPEC+ "deal"

OPEC+ unofficially agree to 2.2 million barrel per day cut Full compliance with cuts already looks unlikely Brent continues to consolidate near recent lows Oil prices remain quite volatile but more importantly, not too far from their recent lows after traders judged yesterday's announcement from OPEC+ with some skepticism.

01-12-2023 17:16 GMT by Craig Erlam

MCPE-0104-Podcast-Thumbnail-White-–-1280x720-1.png

Market Insights Podcast - OPEC+ deal, manufacturing recession easing

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss Jerome Powell's fireside chat, the manufacturing PMIs and the OPEC+ deal.

01-12-2023 16:30 GMT by Craig Erlam

EURCAD Technical Analysis – Price Action Forecast and Important Levels to Watch

This article goes over different tools and indicators covering EURCAD, in some cases, cross-pairs can provide trade setups of a different nature as the US Dollar is partially taken out of the equation. Trading in financial markets requires an overview of different types of tools and the same applies to forex trading. Talking points Inflation Rate Overview - European Union and Canada Daily Chart Technical analysis Sentiment Indicators: Commitment of Traders report, and OANDA’s order book. Relat

01-12-2023 07:25 GMT by Moheb Hanna

Euro steady ahead of US Mfg. PMI, Powell remarks

Eurozone inflation falls to 2.4% US ISM Manufacturing PMI expected to improve to 47.6 Fed Chair Powell will deliver remarks in Atlanta The euro is showing limited movement on Friday. In the European session, EUR/USD is trading at 1.0897, up 0.09%. Eurozone inflation falls more than expected Eurozone inflation has been falling and the November report brought good tidings.

01-12-2023 07:13 GMT by Kenneth Fisher

USD/CAD eyes Canadian job data, US PMI

Canada's job growth expected to expand by 15,000 US ISM Manufacturing PMI projected to accelerate to 47.6 The Canadian dollar continues to gain ground against a slumping US dollar. In the European session, USD/CAD is trading at 1.3529, down 0.23%. The Canadian currency is poised to post a third straight winning week against the greenback and soared 2.25% in November.

01-12-2023 06:18 GMT by Kenneth Fisher

Swiss franc hits 4-month high, GDP beats forecast

Swiss franc climbs to 4-month high Swiss GDP rises 0.3% US ISM Manufacturing PMI expected to rise slightly The Swiss franc is lower on Friday. In the European session, USD/CHF is trading at 0.8723, down 0.22%. Swiss franc continues to climb The Swiss franc continues to power higher against a slumping US dollar.

01-12-2023 04:28 GMT by Kenneth Fisher

WTI Oil Technical: Positive elements intact ex-post OPEC+

Earlier rally in WTI crude oil fizzled out ex-post OPEC+ meeting due to uncertainty over 2024 oil supply cut commitments from members. The strongest commitment came from Saudi Arabia where it will extend its its voluntary 1 million barrels per day supply through Q1 2024 while Angola has decided to go against its newly reduced supply target. Technical analysis suggests several positive elements in WTI crude oil despite the uncertainty over the demand and supply dynamics of the oil market. Watch t

01-12-2023 00:55 GMT by Kelvin Wong

MCPE-0103-YT-Thumbnail-Purple-–-1280x720-1.png

Hedging the Markets - ECB rate cut eyed after inflation data (video)

OANDA Senior Market Analyst Craig Erlam discusses the moves in EURUSD in light of the inflation data from the eurozone and US.

30-11-2023 17:13 GMT by Craig Erlam

Aussie falls, recovers on soft Chinese data

China PMIs weaken in November Australian dollar loses ground US core PCE price index eases to 3.5% The Australian dollar is slightly lower in Thursday trade. In the North American session, AUD/USD is trading at 0.6621, up 0.08%.

30-11-2023 11:16 GMT by Kenneth Fisher

EUR/GBP - Down for sixth day as eurozone inflation falls again

Eurozone HICP inflation 2.4% in October (2.9% in September, 2.7% expected) Eurozone core HICP inflation 3.6% in October (4.2% in September, 3.9% expected) EURGBP continues lower after bearish breakout on Monday Eurozone inflation fell much further than expected in October, leaving the headline HICP rate within touching distance of the ECB's 2% target. While policymakers have continued to push back against talk of rate cuts, the questions will be impossible to ignore now with markets pricing in

30-11-2023 09:19 GMT by Craig Erlam

Canadian dollar steady ahead of GDP

Canada's GDP expected to remain at 0.0% The Canadian dollar is steady on Thursday. In the North American session, USD/CAD is trading at 1.3602, up 0.11%. Canada's GDP expected to flatline Canada's economy has been stalling and today's GDP release is expected to confirm that trend.

30-11-2023 06:19 GMT by Kenneth Fisher

EUR/USD drops ahead of eurozone CPI

Eurozone inflation expected to decline to 2.7% ECB's Lagarde delivers remarks later today The euro is in negative territory in Thursday trade. In the European session, EUR/USD is trading at 1.0940, down 0.27%. Eurozone inflation expected to ease to 2.7% Germany's inflation rate declined sharply in November and the eurozone is up next, with the November inflation report later today.

30-11-2023 03:39 GMT by Kenneth Fisher

AUD/JPY Technical: At risk of a minor decline sequence

An impending minor bearish reversal “Double Top” has been formed in the last two weeks. Failure to have a clear break above 98.40 long-term secular range resistance in place since October 2007 after a fifth retest last Friday, 24 November. Watch the key short-term resistance at 98.00. This is a follow-up analysis of our prior report, “AUD/JPY Technical: Holding above the 20-day moving average” published on 22 November 2023. Click here for a recap. The price actions of the AUD/JPY cross-pair ha

30-11-2023 03:26 GMT by Kelvin Wong

Deflationary spiral is still a recurring risk in China, but the yuan remains resilient

November NBS Manufacturing & Non-Manufacturing PMIs for China came in weaker than expected. Recurring risk of the deflationary spiral in China has led to the underperformance of China & Hong Kong stock markets despite the recent bout of global risk-on-herding behaviour. The Chinese yuan has continued to appreciate against the US dollar driven by external factors; an increasing expectation of a dovish Fed pivot to come in Q1 2024. Watch the key medium-term resistance of 7.2675 on the USD/CNH (off

30-11-2023 00:34 GMT by Kelvin Wong

MCPE-0102-Podcast-Thumbnail-Dark-–-1280x720-1.png

Market Insights Podcast - US GDP, RBNZ holds

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss US GDP data, Gold, and the RBNZ interest rate decision.

29-11-2023 17:28 GMT by Craig Erlam

Australian dollar falls as inflation cools

Australian CPI falls more than expected AUD/USD down after four-day winning streak The Australian dollar is in negative territory on Wednesday, after four straight winning sessions. In the North American session, AUD/USD is trading at 0.6623, down 0.39%. Australia's inflation rate surprises on the downside Australia's inflation rate rose 4.9% y/y in October, down from September's 5.6%, which was a five-month high.

29-11-2023 08:24 GMT by Kenneth Fisher

US DJIA Technical: Bullish impulsive upmove remains intact

Shaped four consecutive weeks of positive higher closes since 27 Oct 2023 low of 32,310. Potential start of a major uptrend phase with next major resistance at 39,515. Watch 35,175 key short-term support to maintain minor uptrend phase from 10 November 2023 low. The price actions of the US Wall St 30 Index (proxy of the Dow Jones Industrial Average futures) have shaped four consecutive weeks of positive higher closes since its recent October 2023 low of 32,310. The current price level of 35,44

29-11-2023 07:09 GMT by Kelvin Wong

New Zealand dollar spikes after RBNZ decision

RBNZ holds rates but sends a hawkish message NZD/USD spikes 1% higher but pares gains The New Zealand dollar surged 1% on Wednesday but has surrendered most of the gains. In the European session, NZD/USD is trading at 0.6149, up 0.20%. RBNZ delivers a hawkish hold The Reserve Bank of New Zealand maintained the cash rate at 5.5% for a fourth straight time, as expected.

29-11-2023 06:09 GMT by Kenneth Fisher

NZD/USD: RBNZ fired a hawkish missile

RBNZ has maintained the OCR at 5.50% for the fourth consecutive time and matched market consensus. Hawkish forward guidance by RBNZ where its latest projected terminal rate of the OCR has been revised upwards to 5.69% (Sep 2024) from 5.57% projected earlier in the August 2023 MPS. The Kiwi rallied by +0.90% intraday against the US dollar and outperformed other major currencies. No clear signs of bullish exhaustion in NZD/USD from a technical analysis perspective.

29-11-2023 01:43 GMT by Kelvin Wong

All news & analysis