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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.

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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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GBP/USD, Oil Forecast: Two trades to watch

GBP/USD held at a five-month low after jobs data and ahead of Fed Chair Powell's speech. Oil rose after China's GDP growth and amid ongoing Middle Eastern tensions.

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NZD/USD: Inflation the only barrier between the RBNZ and rate cuts

Inflation remains key sticking point preventing interest rate cuts from the Reserve Bank of New Zealand, ensuring Wednesday’s first quarter consumer price inflation report will be closely watched by financial markets, especially should it print on the softer side of expectations.

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Yesterday 04:11 PM
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USD/CAD analysis: Canadian CPI in focus for BOC clues

With the odds of a Fed cut arriving this year now in jeopardy, it is now over to the BOE, ECB or BOC to take the title as ‘first to begin easing’. And that brings Canadian CPI data into focus today for CAD traders.

Downwards trend with red arrow

AUD/USD bearish trend may be disrupted by China’s market open

Contrary to what you may expect, movements in AUD/USD on Tuesday may be dictated by the performance of Chinese financial markets rather than the latest batch of Chinese economic data including Q1 GDP.

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Yesterday 10:44 AM
Research

USD/JPY eyes 155, WTI crude oil looks set to bounce: Asian Open

USD/JPY is less than a day's trade from 155, a level an ex-FX diplomat warned could trigger an intervention if breached. WTI crude oil seems to have solid support above $84, to hint at a swing low.

Bitcoin Halving 2024: BTC/USD Poised for a Breakout Ahead of Quadrennial Halvening

A breakout from Bitcoin’s recent $61K-$73K range is inevitable – see the key levels to watch from here below!

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Gold analysis: Balancing geopolitical risks and rising dollar, yields

Gold investors face key dilemma as rising geopolitical risks could keep gold supported on dips, but even higher yields continue to increase the opportunity cost of holding gold. Gold technical analysis point to overbought conditions, so a bit of short-term weakness should not come as surprise.

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