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Aussie ends nasty slide, confidence data next

Australian dollar breaks five-day losing streak Business, consumer confidence will be released on Tuesday The Australian dollar has edged higher on Monday. In the European session, AUD/USD is trading at 0.6376, up 0.27%.

13-11-2023 07:06 GMT by Kenneth Fisher

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Market Insights Podcast - UK economy flatlines in Q3, central banks remain hawkish

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the UK GDP data, and Fed speak, and look forward to the inflation and retail sales releases next week.

10-11-2023 13:03 GMT by Craig Erlam

Japanese yen under pressure after dismal week

Fed's Powell says interest rate hikes still on table The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 151.44, up 0.06%. It has been a rough week for the Japanese yen, which is down 1.42%, its worst weekly showing since August. Powell talks hawkish The markets believe that interest rates have peaked and are looking ahead to rate cuts in 2024, but Fed Chair Powell continues to sound hawkish.

10-11-2023 07:44 GMT by Kenneth Fisher

Aussie extends losses, RBA talks hawkish

RBA warns of upside risk to inflation Fed's Powell says rate hikes still on the table The Australian dollar has edged lower on Friday. In the European session, AUD/USD is trading at 0.6352, down 0.22%. RBA raises inflation, employment forecasts The Reserve Bank of Australia issued its quarterly monetary policy statement on Friday.

10-11-2023 06:50 GMT by Kenneth Fisher

GBP/USD stems slide as GDP beats estimate

UK GDP flat in third quarter The British pound is steady on Friday. In the European session, GBP/USD is trading at 1.2219, down 0.02%.

10-11-2023 05:07 GMT by Kenneth Fisher

US Russell 2000 Technical: Bearish reaction at a key inflection point

Russell 2000’s week-to-date performance as of 9 November is the weakest among the US benchmark stock indices. The current bearish reaction that wiped out almost 50% of last week’s gains has occurred right below the former key range support and 50-day moving average. Watch the 1,787 key short-term resistance. This is a follow-up analysis of our prior report, “Russell 2000 Technical: The weakest may get weaker again” published on 25 October 2023. Click here for a recap. The bearish force has sta

10-11-2023 03:57 GMT by Kelvin Wong

AUD/USD torpedoed towards key short-term support for a potential bullish reversal

The recent slide of -170 pips seen in the AUD/USD from Monday, 6 November high of 0.6520 has reached a key inflection zone. The latest higher level of inflation forecasts in Australia by the RBA may put a pause on the current minor corrective decline seen in the AUD/USD. Short-term technical elements have turned positive for a potential bullish reversal scenario for the AUD/USD. Watch the 0.6330 key short-term support and 0.6400 potential upside trigger level for the AUD/USD. This is a follow-u

10-11-2023 00:02 GMT by Kelvin Wong

GBP/USD calm ahead of UK GDP

UK GDP expected to decline The British pound is showing little movement on Thursday. In the North American session, GBP/USD is trading at 1.2276, down 0.07%. Markets brace for contraction in GDP The UK economy has been struggling and Friday's GDP is expected to indicate negative growth, with a market consensus of -0.1% q/q for the third quarter.

09-11-2023 11:50 GMT by Kenneth Fisher

EUR/USD - A bullish formation near a channel peak?

EURUSD is continuing to trade in a rising channel formation, reminiscent of a bearish flag given the trend that preceded it but recent signs may suggest it's not that straightforward. The first thing worth noting is that the bearish flag formation isn't ideal in that the sell-off that makes up the pole element isn't particularly sharp and the time it's traded in the flag is a little long. That said, it can still be argued to be a bearish setup. But what we've seen over the last week is arguabl

09-11-2023 11:10 GMT by Craig Erlam

NZD/USD edges higher ahead of manufacturing PMI

China inflation misses estimate NZ manufacturing PMI expected to decline The New Zealand dollar is in positive territory on Thursday. In the European session, NZD/USD is trading at 0.5926, up 0.26%. NZ Manufacturing PMI expected to decelerate slightly New Zealand's manufacturing sector has been in decline for seven consecutive months and little change is expected from the October PMI, which will be released on Friday.

09-11-2023 08:22 GMT by Kenneth Fisher

Aussie halts slide, RBA Statement next

China's inflation misses estimate RBA to release monetary policy statement on Friday The Australian dollar is unchanged on Thursday and is trading at 0.6401. This follows a three-day slide, in which AUD/USD has fallen 1.7%. RBA Monetary Policy Statement eyed The Reserve Bank of Australia will release its quarterly monetary policy statement on Friday.

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

Gold Technical: At the risk of further corrective decline before potential recovery

Gold’s stagflation hedge purpose has been negated after a rotation back into long-duration risk assets/equities. Watch the US$1,972 key short-term resistance on spot Gold (XAU/USD) to maintain on-going corrective decline structure. Medium-term uptrend remains intact as long as US$1,903 support holds. In the past two weeks, the price actions of Spot Gold (XAU/USD) have started to lose some of their glitter as a safe haven play due to the “status quo” situation in the ongoing Israel-Hamas conflic

09-11-2023 02:17 GMT by Kelvin Wong

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Market Insights Podcast - Central banks push back, oil and gold fall

Jonny Hart and Trader Nick discuss the day's events in which many central bankers gave their views on interest rates and oil and gold fell further.

08-11-2023 15:28 GMT by Craig Erlam

UK100 - Central bankers continue to push back without success

Fed, ECB, and BoE officials push back against rate cut talk Investors not convinced by hawkish comments UK100 edges lower after bearish rebound We are continuing to see sluggish trade in equity markets on Wednesday, with investors battling hawkish commentary from central banks against downbeat economic expectations and speculation around rate cuts next year. Even if central banks were of the view that rates could fall next year, it would be unrealistic to expect them to say so at this stage as

08-11-2023 15:05 GMT by Craig Erlam

GBP/USD edges lower, BoE's Bailey says no to rate cuts

BoE's Bailey says no plan to cut rates The British pound has edged lower on Wednesday. In the North American session, GBP/USD is trading at 1.2287, down 0.10%.

08-11-2023 11:12 GMT by Kenneth Fisher

Euro extends losses after soft eurozone retail sales

Eurozone retail sales decline by 2.9% The euro is down on Wednesday, after a two-day losing streak. In the European session, EUR/USD is trading at 1.0675, down 0.23%. Eurozone retail sales slide The eurozone economy has been sputtering, so it's no wonder that consumers are in a sour mood and holding tight on the purse strings.

08-11-2023 06:59 GMT by Kenneth Fisher

New Zealand dollar shrugs as inflation expectations dip

Inflation expectations ease to a two-year low The New Zealand dollar is slightly lower on Wednesday. In the European session, NZD/USD is trading at 0.5924, down 0.19%. NZ inflation expectations dip New Zealand's inflation rate has been dropping, albeit slowly.

08-11-2023 05:49 GMT by Kenneth Fisher

Hang Seng Index Technical: Potential bullish reversal in progress

Daily MACD indicator has exhibited a potential medium-term trend change behaviour from bearish to bullish. Recent price actions have shaped a minor bullish “Double Bottom” breakout and traded above the 20-day moving average. Watch the short-term key support at 17,540. This is a follow-up analysis of our prior report, “Potential bullish tactical movements arise for Hong Kong & China equities due to USD weakness” published on 6 November 2023. Click here for a recap. In the past two weeks, the pr

07-11-2023 23:52 GMT by Kelvin Wong

AUD/USD - Remains rangebound despite RBA interest rate hike

RBA hikes and signals it's now data-dependent Inflation remains a challenge despite already high rates AUDUSD fails to breakout but momentum remains The RBA today ended a series of four rate pauses and hiked by another 25 basis points. The fact that it's needed to hike again after such a long time highlights how difficult central banks are finding it to get inflation under control and how much more difficult this last stage may prove than hoped.

07-11-2023 15:48 GMT by Craig Erlam

Nasdaq - Leads the way in otherwise mixed trade

Nasdaq outperforms other indices Fed officials remain cautious NAS100 breaks major technical resistance Stocks traded a little mixed in Europe and the US on Tuesday, the one outlier being the Nasdaq which powered ahead with gains of more than 1%. Lower bond yields enabled stocks to bounce back strongly in the second half of last week, aided by some less hawkish Fed commentary after the meeting and a softer jobs report. But with yields now stabilizing again, equities have been running low on en

07-11-2023 15:26 GMT by Craig Erlam

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