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Yen, Euros and dollar currency bills and notes

USD/CHF looks set to lead the USD index higher, EUR/USD and AUD/USD lower

My bias for the US dollar index to rise to 105 remains in place, even if prices are grinding higher at a frustrating pace. But with USD/CHF hinting at a breakout, it could point to near-term weakness for EUR/USD and AUD/USD.

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Today 02:59 PM
Market chart showing uptrend

NZD/USD: RBNZ delivers hawkish surprise, Kiwi gains capped by amplified economic risks

The RBNZ is intent on defeating inflation even if it means sacrificing the economy, delivering a major surprise at its latest monetary policy meeting by flagging the likelihood that rates may need to increase again. The Zealand dollar surged on the unexpected hawkish pivot.

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Today 01:51 PM
gpbusd_06

GBP/USD forecast: Cable stands firm despite hopes of soft UK CPI

GBP/USD has rallied 3.5% since April's low despite favourable yield differentials with the US. Yet price action on the daily and H4 charts suggests a minor pullback may be due.

Research

AUD/NZD hints at swing low before RBNZ, ASX seeks breakout: Asian Open

AUD/NZD looks set to capitalise on its rise from Friday's, which could be helped by even a slightly dovish RBNZ meeting. SPI 200 futures were higher overnight to suggest the ASX 200 could break to the upside from its daily compression pattern.

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canada_02

USD/CAD outlook: Canada’s CPI cements BOC June cut expectations

USD/CAD outlook: Despite softer Canadian CPI data, could the pair drop anyway? While Fed officials maintain a hawkish rhetoric amid sticky inflation signs, weakening data suggests US policy could be loosened sooner. Meanwhile, the USD/CAD remains inside a short-term bearish channel even if a key bull trend has been supported for now.

Oil refinery

Crude Oil Analysis: Rates and Inventories

Crude Oil Analysis: Crude oil has rebounded from its largest yearly correction twice, driven by negative U.S inventory results for the past two weeks. Will there be a third rebound on Wednesday?

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Dow Jones Forecast: DJIA muted on rate cut uncertainty

US stocks point to a modestly weaker open amid Fed rate cut uncertainty and ahead of Nvidia earnings tomorrow. Fed speakers have sounded cautious about cutting rates despite inflation cooling in April. The US economic calendar is quiet today. Attention will be on more Fed speakers ahead of tomorrow's FOMC minutes. Meanwhile, Macy's and Lowe's point to a stronger open after beating estimates.

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Yesterday 11:20 PM
Forex trading

EUR/USD forecast remains bullish amid recent US data weakness

Fed’s tone has remained hawkish, with officials arguing against premature rate cuts. This has helped to provide the greenback some support, even as the markets have brought forward their expectations over the first rate cut thanks to weakness in US data. All told, our EUR/USD forecast remains bullish in the short-term outlook.

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Yesterday 09:00 PM
germany_01

DAX, GBP/USD Forecast: Two trades to watch

DAX falls amid rate uncertainty. GBP/USD hovers around 1.27 ahead of Bailey& Fed speakers.

crypto_04

Bitcoin traders should track Wall Street, Nvidia for directional cue

With bitcoin effectively taking its general trend from the stock market these days, traders should take note that US indices are mixed around all-time highs and Nvidia (a key driver of the Nasdaq) trades below resistance ahead of a key earnings report.

RBNZ preview: Timeline for taming inflation key for New Zealand dollar reaction

The RBNZ is highly likely to leave its overnight cash rate at 5.5% on Wednesday. However, with updated economic forecasts, along with a press conference from Governor Adrian Orr, the bank has been given plenty of clear air to shake these sleepy FX markets up, if it chooses to do so.

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Yesterday 02:04 PM
canada_02

USD/CAD catches a bid ahead of Canadian inflation report

The pullback from April's high has seen USD/CAD find support around 1.36 but, with CAD traders remaining heavily net short, USD/CAD needs to rally to justify their bearish exposure.

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Yesterday 01:12 PM
aus_03

AUD/USD, ASX 200: Watching for hawkish overtones in the RBA minutes

The performance of mainland Chinese stock indices and minutes from the RBA May monetary policy meeting should be on the radar for anyone trading AUD/USD or ASX 200 futures on Tuesday. With little top tier data or event risk to navigate, they loom as the most likely drivers of Australian financial markets.

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Yesterday 09:32 AM
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