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Nasdaq 100 analysis: Markets remain vulnerable despite tech rally

Tech earnings optimism underpins recovery for now, but markets still remain vulnerable. US bond yields remain elevated ahead of a record $70 billion sale. Nasdaq 100 technical analysis shows index is testing key resistance.

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April 25, 2024 01:30 AM
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US Core PCE Preview: USD/JPY Flirts with 155 Ahead of Key US Inflation Report

Diverging interest rate expectations between the Federal Reserve and the rest of the developed world have been THE biggest story of the year for FX traders (USD/JPY in particular), and Friday’s Core PCE report will be the next major test to determine if that trend will carry over into Q2

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S&P 500 Forecast: SPX rises with earnings in focus, Tesla jumps

Stocks are pointing to a modestly higher start as earnings continue to roll in. However, gains could be limited after stronger-than-expected US durable goods orders revived concerns over the Fed keeping rates high for longer. Tesla is set to open 12% higher despite missing both earnings and revenue estimates. The market was more impressed by the news of an acceleration in the production of affordable EV models. Meta will report after the close.

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Euro to US dollar analysis: Will the EUR/USD find a bottom?

Disparity between US and Eurozone PMI data bodes well for euro. For now, the US dollar has rebounded slightly ahead of GDP and core PCE data. EUR/USD technical analysis shows rates testing a pivotal area circa $1.07 - a potential break above here would be ideal for the bulls.

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DAX, USD/JPY Forecast: Two trades to watch

DAX rises with German IFO business sentiment data in focus. USD/JPY inches higher despite intervention threats and ahead of US durable goods orders.

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Australian dollar setups following hot inflation print: AUD/JPY, EUR/AUD, GBP/AUD

It’s not just AUD/USD and the RBA interest rate outlook that have been shaken up by Australia’s hot March quarter inflation report with the Australian dollar gaining sharply against the crosses, especially those currencies whose central banks are still expected to ease monetary policy this year.

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Today 04:51 PM

Bitcoin’s forecast: BTC rebound seems unconvincing

Momentum may have turned higher for bitcoin this week, yet it lacks the trading volumes usually associated with a strong rally.

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AUD/USD surges on uncomfortably high inflation update as RBA rate cut bets evaporate

AUD/USD is charging higher, powered by a hotter-than-expected Australian March quarter consumer price inflation report that has seriously dented the case for rate cuts from the Reserve Bank of Australia this year.

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US dollar correction kicks in, AUD/USD firm ahead of CPI: Asian Open

The US 2-year bond yield remains support, which is capping the yield at 5% and weighed on the US dollar. And that helped AUD/USD rise for a second day ahead of a key AU CPI report.

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US dollar stumble a tremor before the true FX earthquake hits

If you’re waiting for economic events outside the United States to spark the next wave of currency market volatility, you’re looking in the wrong place. Because in the absence of a black or grey-swan type event, it will almost certainly come from within the United States.

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Today 09:01 AM
Research

EUR/USD analysis: Technical Tuesday - April 23, 2024

It has been a risk-on session so far, with equity indices rising sharply for the second consecutive day ahead of Tesla’s earnings tonight and other big tech companies reporting this week. Also on the rise today have been markets such as crude oil, the EUR/USD and even the GBP/USD. Sentiment was lifted by stronger PMI data from the services sector in Europe and UK, alleviating growth concerns even if the manufacturing sector PMI continued to remain depressed.

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Nasdaq 100 Forecast: QQQ rises ahead of Tesla earnings

US indices point to a stronger start as corporate earnings continue to roll in. Earnings are providing a welcomed distraction after worries over the Fed keeping rates high for longer hurt sentiment last week. US PMI data is due shortly and is expected to show business activity grew at a faster pace. Tesla is due to report after the close after the EV maker's deliveries fell in Q1 and as the share price trades down 40% this year.

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Gold analysis: Can metal start rising again now?

Has gold selling already or nearly done? Gold remains fundamentally supported in the long term, although there is room for further correction. Gold technical analysis shows prices are no longer as overbought as a couple of weeks ago.

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