All Articles

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

MPCE-0092-Podcast-Thumbnail-Dark-–-1280x720-1.png

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

Euro edges lower as German Industrial Production declines

German Industrial Production declines Fed's Powell will make public remarks on Wednesday The euro is in negative territory for a second straight day. In Tuesday's North American session, EUR/USD is trading at 1.0684, down 0.31%. German Industrial Production declines 1.4% Germany's industrial production slipped 1.4% m/m in September, following a downwardly revised -0.1% reading in August and well shy of the market consensus of -0.1%.

07-11-2023 12:14 GMT by Kenneth Fisher

NZD/USD slides on RBA decision, mixed Chinese data

New Zealand dollar sharply lower RBA raises rates but Australian dollar slides Chinese exports decline The New Zealand dollar is down sharply on Tuesday. In the North American session, NZD/USD is trading at 0.5927, down 0.61%.

07-11-2023 11:08 GMT by Kenneth Fisher

Australian dollar plunges after RBA hike

RBA raises rates but eases tightening bias Australian dollar slides over 1% The Australian dollar has recorded massive losses on Monday. In the European session, AUD/USD is trading at 0.6422, down 1.05%.

07-11-2023 07:24 GMT by Kenneth Fisher

AUD/USD Technical: RBA hike has already been priced in, minor corrective decline in progress

AUD/USD Technical: RBA hike has already been priced in, minor corrective decline in progress RBA hiked the official cash rate by 25 bps to 4.35% as expected. Revised up slightly projected year-end 2024 Australia CPI inflation to be around 3.5% from 3.25% previously forecasted in August. AUD/USD has declined by -64 pips intraday from yesterday, 6 November high of 0.6523. Short-term momentum has turned bearish as depicted by the hourly RSI.

06-11-2023 23:24 GMT by Kelvin Wong

Nikkei 225 Technical: An imminent potential minor corrective pull-back

The prior four days of the rally have reached an extreme overbought condition. Odds have increased for a minor pull-back scenario reinforced by the latest reading from the 4-hour RSI momentum indicator. Watch the 32,760 key short-term pivotal resistance with an immediate support zone at 32,120/31,620. This is a follow-up analysis of our prior report, “Nikkei 225: Short-term positive momentum emerged ahead of BoJ” published on 30 October 2023. Click here for a recap. In the past week, the Japan

06-11-2023 20:25 GMT by Kelvin Wong

MKPW-0018-Podcast-Thumbnail-Dark-–-1600x1600-1.png

Podcast - Potential rate hike by RBA, China's deflationary risk and Powell's Fed speak on the radar

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss several key highlights and events for this week; a hawkish RBA resurgence and its implications on the AUD/USD, China's deflationary spiral risk, and all ears on Fed speak from Powell on the clarity on the pace and start of interest rate cuts in US. https://open.spotify.com/episode/25yapp1dEbC1H5MVUWYhyM

06-11-2023 19:19 GMT by Kelvin Wong

Nasdaq - Rally running on fumes after Fed and NFP boost

Recovery stalling after a brief boost Fed and jobs report provide optimism Major technical resistance tested It's been a relatively subdued start to trading on Monday, with stock markets struggling to maintain the momentum from the second half of last week. Investors got everything they wanted from the Federal Reserve and the jobs report. Chair Jerome Powell and his colleagues adopted a slightly less hawkish tone for the meeting while maintaining its extremely cautious position on inflation and

06-11-2023 13:35 GMT by Craig Erlam

British pound steadies, Construction PMI declines

UK Construction PMI continues to decline British pound soars on soft US nonfarm payrolls The British pound is steady at the start of the week. In the North American session, GBP/USD is trading at 1.2396, up 0.14%. UK Construction PMI declines UK Construction PMI declined for a second straight month in October, with a reading of 45.6.

06-11-2023 11:48 GMT by Kenneth Fisher

Aussie soars to 3-month high, RBA expected to hike

AUD/USD climbs after soft US nonfarm payrolls RBA rate decision a 50/50 toss-up The Australian dollar has edged lower on Monday, after huge gains on Friday. In the North American session, AUD/USD is trading at 0.6499, down 0.21%. On Friday, the Aussie posted spectacular gains, rising 1.22% and hitting its highest level since August 10th.

06-11-2023 10:45 GMT by Kenneth Fisher

MCPE-0091-YT-Thumbnail-Purple-–-1280x720-1.png

Hedging the Markets - EUR/USD rallies after US jobs report (video)

OANDA Senior Market Analyst Craig Erlam discusses the latest moves in EURUSD in light of the Fed meeting and US jobs report.

06-11-2023 07:01 GMT by Craig Erlam

Dollar-yen back below 150 as greenback retreats

Yen improves after soft US nonfarm payrolls BOJ September minutes indicated members saw no need to tweak YCC The Japanese yen is steady on Monday. In the European session, USD/JPY is trading at 149.66, up 0.20%. US nonfarm payrolls cements pause in December US nonfarm payrolls fell to 150,000 in October, down from a downwardly revised 297,000 in September and shy of the consensus estimate of 170,000.

06-11-2023 06:33 GMT by Kenneth Fisher

All news & analysis