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AUD/USD weekly outlook: 4-Month high for AUD, yet resistance looms

Whilst flash PMIs, FOMC and RBA minutes are on the menu this week, the success of AUD/USD is likely to come down to how the US dollar performs.

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May 20, 2024 06:00 AM
Energy

Crude oil weekly forecast: WTI range under threat as bullish momentum builds

Monday could set the tone given the bullish price action seen across the commodities complex on Friday as China announced a rescue package for its troubled property sector. If the momentum can be maintained, there’s every chance WTI may break downtrend resistance dating back to the highs set in April.

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May 20, 2024 12:00 AM
Multiple pound notes £5, £20 and £50 Pound Sterling

GBP/USD analysis: Cable on verge of big breakout

In the week ahead, we have key UK inflation numbers and global PMI data to trigger the next move. Our GBP/USD analysis remains bullish because of our bearish view on the dollar.

Gold nuggets

Gold Forecast: XAU/USD Nears Record Highs as “Year of Metals” Continues

Gold remains in a clearly bullish structure, with all eyes on XAU/USD's record highs in the $2420-30 zone.

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Equities weekly forecast: Nvidia, Zoom, Target

After record highs on Wall Street last week, attention now turns to earnings from Nvidia, the darling of Wall Street, to see whether the AI stock can push for further record highs.

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Yesterday 12:00 PM
Research

Silver analysis: precious metal takes out $30

Our silver analysis suggests that the precious metal could potentially rise far beyond the $30 level, if the recent gains by gold and copper are anything to go by and in light of the big technical breakout from a multi-year consolidation pattern.

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GBPUSD Analysis: April Highs Set a Weekly Ceiling

GBPUSD Analysis: with the upcoming BOE statement, CPI metrics, and Flash PMI results, April highs are challenged for further bull runs

Congress building

Dow Jones Forecast: DJIA set for a quiet start below 40,000

US stocks head for a quiet open as the CPI-fueled rally runs out of steam. Several Fed speakers have warned that rates need to stay high for longer, and they want to see more evidence of inflation cooling before cutting rates. The Dow Jones remains below the key 40,000 level that it breached yesterday. There is no high-impacting data today. Attention will remain on Fed speakers.

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May 17, 2024 11:23 PM
Currency exchange rate board of multiple currencies

EUR/USD, AUD/USD outlook: Forex Friday - May 17, 2024

Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the US dollar, euro and Aussie, and look ahead to the next week.

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USD/CNH, USD/JPY, AUD/USD: China’s spluttering economy weighs on Asian currencies

China’s fledgling economic recovery suffered another setback in April with activity indicators mostly disappointing, especially regarding the beleaguered property sector. The news weighed on the Chinese yuan and other Asian currencies, such as the Japanese yen and Australian dollar.

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May 17, 2024 02:48 PM
inflation_02

The US dollar may not be ready to roll over just yet: The Week Ahead

We'll need to wait until next week's COT report to see the full damage of the US inflation report to USD long positioning, but with key levels holding as support we may find mean reversion works in the dollar's favour next week.

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May 17, 2024 02:06 PM
Quarry and various stones

Be cautious chasing COMEX copper higher with big bears lurking above $5

The upside in copper flagged last week has played out nicely, delivering a fresh contract high for the red metal on COMEX futures. However, the price action over the latter parts of this week has not been convincing, warning of growing near-term downside risk.

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May 17, 2024 08:58 AM
Research

AUD/USD, ASX 200 eye a solid close for the week: Asian Open

AUD/USD and the ASX 200 have flourished this week thanks to renewed bets of Fed cuts, even though softer employment and wages data for Australia rekindled hopes of a lower RBA cash rate.

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May 17, 2024 08:20 AM
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