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Crude oil analysis: WTI drops amid demand concerns

Middle East concerns should keep the downside limited for crude oil, after prices slid 3% as demand concerns intensified on weaker Chinese industrial data and amid the prospects of higher interest rates for longer. WTI technical analysis suggests the longer-term trend remains bullish, with the first short-term support level to watch coming in around $82 area.

April 18, 2024 03:00 AM
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Japanese Yen Forecast: USD/JPY Rally Nears 155 – Is the BOJ “The Boy Who Cried Wolf?”

For USD/JPY, the next test to watch will be at 155.00, and if the MOF/BOJ fail to act if USD/JPY breaches that level, traders may start to turn their eyes up to 160.00 next

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April 18, 2024 12:40 AM
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Nasdaq 100 Forecast: QQQ inches higher ahead of Fed speakers

US stocks are inching higher with corporate updates in focus, and after US Fed Chair Powell dampened rate cut expectations. More Fed officials will speak today, and more hawkish commentary could impact sentiment. The market is currently pricing in a 40% probability of a July rate cut. United Airlines flies higher after encouraging results.

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Today 11:13 PM
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DAX outlook remains unfavourable despite support from earnings

Earnings have helped to lift the mood so far in today's session, but risk appetite could be limited amid ongoing geopolitical risks and uncertainty over interest rates outlook. DAX technical analysis shows the German index is still residing in a bearish channel, despite the bounce.

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GBP/USD, DAX Forecast: Two trades to watch

GBP/USD attempts to recover after CPI cooled less than expected. DAX inches higher ahead of Eurozone inflation data & after ASML earnings.

Research

EUR/USD, DAX may be down – but they’re not fully out

The US dollar has dominated sentiment for markets this past week, but with signs of momentum waning there may be hope for a rebound on EUR/USD and DAX - even if only minor.

Energy

WTI crude oil forecast: Price action unconvincing despite strong tailwinds, fat tail risks

Crude oil appears toppy after a mammoth rally since February, unable to push higher despite some seriously strong tailwinds stemming from geopolitics, supply curbs and ongoing strength in the US economy.

Market chart showing uptrend

NZD/USD pops as RBNZ rate cuts bets delivered sticky reality check

New Zealand inflationary pressures continued to ease in the March quarter, although domestic prices remained uncomfortably sticky, likely keeping the prospect of rate cuts from the Reserve Bank of New Zealand a distant prospect.

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Today 09:23 AM
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AUD/USD, ASX 200 dragged lower during risk-off trade: Asian Open

A risk-off tone ensued across global markets to send the US dollar higher, to the detriment of AUD/USD and the ASX 200.

Nasdaq 100 Forecast: “Magnificent Seven” Q1 2024 Earnings Preview

The Nasdaq 100 is finally showing signs of breaking down from its 2-month sideways range between about 17,800 and 18,400 ahead of the Magnificent Seven stocks' earnings reports.

Close-up of market chart showing downtrend

Nasdaq 100, S&P 500 and DAX analysis: Technical Tuesday - April 16, 2024

The S&P 500 extends losses to third week amid raised geopolitical risks and rising bond yields. Concerns over the escalation of the situation in the Middle East is at the forefront of investors’ minds. The situation remains volatile with Israel seeking revenge for Iran’s retaliatory attacks on Saturday.

USA flag

S&P 500 Forecast: SPX inches higher ahead of Powell

US stocks are set to open modestly higher in cautious trade ahead of a speech by Federal Reserve Chair Jerome Powell. US treasury yields rose to the highest level since November, a day after stronger-than-expected US retail sales data, which could limit the upside for stocks. Earnings from Bank of America and Morgan Stanley were better than expected.

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Yesterday 11:15 PM
Market trader analysing data

EUR/USD analysis: Focus turns to Powell as geopolitical uncertainty lingers

German ZEW survey improves for 9th consecutive month to provide the euro some much-needed support. But the US dollar is likely to remain supported on dips and this should prevent rates from rising significantly. EUR/USD technical analysis point to an oversold bounce, but the trend remains bearish

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Yesterday 10:00 PM
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