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AUD/USD, RBA mins in focus, Nasdaq tracks Thanksgiving seasonality: Asian Open
We're on the lookout for any hawkish undertone in today's RBA minutes - given the RBA's statement was deemed to be less hawkish than expected. Failure to do so could see AUD/USD hand back some of it's gains. The Nasdaq is also following its seasonaly tendency to rise into Thanksgiving.
AUD/USD, USD/JPY forecast: Asian Open – Nov 20, 2023
With a bullish engulfing week and day for AUD/USD on Friday, can the Aussie muster up the strength for a breakout above key resistance? And if losses on USD/CNH are anything to go by, perhaps USD/JPY is preparing to follow suit.
EUR/USD, Oil Forecast: Two trades to watch
EUR/USD falls ahead of ECB President Lagarde's speech & US jobless claims. Oil falls for a third straight day after inventories rise.
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WTI crude oil mean reversion kicks in, ASX for 7100? Asian Open
WTI crude oil rose for a second day after the monthly OPEC report played down demand concerns and blamed speculators for oil's recent decline. A move to $80 at a minimum or $83 could now be on the cards. We also have a near-term bullish bias on the ASX 200.
AUD/USD, S&500 analysis: Asian Open – Nov 13, 2013
The S&P 500 continues to defy gravity and appears on the cup of breaking above a key resistance level. And whilst AUD/USD fell for five days last week, it is fast approaching a key support level that has been favourable to dip buyers in recent times.
GBP/USD, USD/JPY Forecast :Two trades to watch
GBP/USD struggles as UK GDP stalls. USD/JPY grinds higher after a hawkish Fed Chair Powell.
USD/JPY rises to resistance, USD ready to retrace? Asian Open
If the BOJ were going to intervene, it could be argued they'd have done it already. But that doesn't mean the market can't do some of the work for them by sending USD/JPY lower from key resistance levels. And if the US dollar pulls back as I suspect, it places USD/JPY short onto the watchlist.
GBP/USD, DAX Forecast: Two trades to watch
GBP/USD falls ahead of BoE Bailey & Fed Chair Powell’s speeches. DAX falls ahead of German inflation & retail sales data & as after Commerzbank, Adidas earnings.
WTI continues to defy the consensus, AUD/USD falls post RBA: Asian Open
WTI fell over 4% to a 4-month low on Tuesday after slicing through $80. AUD/USD was also the weakest FX major after the RBA's statement lacked the level of hawkishness traders were seemingly positioned for.
EUR/USD, Oil Forecast: Two trades to watch
EUR/USD falls after weak German industrial production and as the USD rebounds. Oil falls below $80 after weak Chinese data.
Gold falters around $2,000, although seasonality could be on its side
Gold enjoyed its best month in seven in October, with its 7.3% rise forming a clear bullish engulfing candle and was its third best month of the year. Whether it can extend its rally and make a run for a new record high remains to be seen, but we have seen gold failed around the $2075 highs three times since 2020. What would be so different this time?
AUD/USD, ASX 200 tread water ahead of expected RBA hike: Asian Open
With an overwhelming majority now backing a 25bp RBA hike today, the RBA may need to deliver a hawkish hike for AUD/USD to stand any chance of a sustainable break above resistance and send the ASX 200 materially lower.
AUD/USD surges ahead of RBA’s expected rate hike: Asian Open
AUD/USD finally saw the break above 64c that we have been anticipating, on renewed bets of an RBA hike alongside a weaker nonfarm payrolls report.
AUD/USD looks comfy above 64c, as does WTI above $80: Asian Open
AUD/USD produced a clear and decisive break and, unless we see an abnormally strong nonfarm payroll later today, I suspect the Aussie could be headed for 65c. WTI crude oil is also trying to turn higher just above $80 which places a potential bounce on the cards.
AUD/USD on verge of breakout? ASX 200 perk up: Asian Open – Nov 2 2023
AUD/USD has continued to defy bears with a sustainable break below 63c. And with momentum now turning higher and a bullish engulfing candle closing on a key resistance level, I'm on high alert for a bullish breakout. The ASX 200 also shows some appetite for further gains, as long as it can also break a key resistance level nearby.
AUD/USD in focus for AU CPI, gold holds support: Asian Open – 25/10/2023
The importance of today’s Australian inflation report has only increased following last week’s relatively hawkish RBA minutes and comments from the Governor on Tuesday. And that leaves AUD/USD vulnerable to a rally from relatively low prices should CPI come in hot. We've also seen the required pullback to support to for gold, to reconsider a cheeky long.
DAX, Oil Forecast: Two trades to watch
DAX eases after Chinese data and on inflation jitters. Oil rises after US ramps up sanctions on Russia.
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WTI crude oil suffered its worst week in 6 months: Asian Open – 09/10/2023
The rapid decline of oil prices last week has seen calls for $100 WTI come into question. But with prices showing signs of stability above $80 on Friday and Iran declaring war on Palestine, oil prices will be closely watched due to concerns of a supply disruption potentially on the horizon.
Nasdaq100 Forecast: Stocks inch higher on hopes that peak rates are here
US stocks are edging higher ahead of the Federal Reserve interest rate decision. The Fed is expected to leave rates unchanged at 5.25%-5.5%. However, the key focus will be on what comes next. The market is pricing in a 70% probability that the Fed will keep rates unchanged again in November. Yet with inflation still over 2%, resilience in the US economy and oil heading towards $100 the Fed is likely to keep the door open for further hikes if needed.
EUR/USD, Oil Forecast: Two Trades to Watch
EUR/USD rises after 9 weeks of losses, its longest losing steak since inception. Oil rises towards $93 a barrel, lifted by supply concerns.
GBP/USD, Gold Outlook: Two Trades to Watch
GBP/USD rises after hot inflation makes a June rate hike a done deal. Gold slips ahead of Fed Powell’s testimony.
EUR/USD forecast, USD/CAD forecast: Two trades to watch
Could EUR/USD return to 1.10? USD/CAD looks to US jobless claims, Fed speak & BoC’s Macklem.
EUR/GBP forecast, Oil forecast: Two trades to watch
EUR/GBP falls as more BoE rate hikes are expected. Oil edges lower ahead of EIA stockpile data.