US Dollar

GBPUSD Forecast: The GBP/USD pair failed to sustain a close above the 1.3030 level. Current trends show bearish dominance, yet upcoming events next week will be crucial in determining whether the pair will continue its uptrend or face further declines.

Crude Oil Forecast: Following bearish sentiment driven by weaker-than-expected Chinese economic growth, a drop in the US Dollar, the Houthi attack on an oil tanker in the Red Sea, and a decline in crude inventories, oil prices have rebounded above the $82 mark.

NFP leading indicators point to a slightly above expectation reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 175-225K range.

EUR/USD seems primed for a retest of 1.08 after USD dollars bears were forced to retreat, as the 'higher for longer' narrative returns to the scene.

The US dollar may have risen for a third day, yet bulls lack the conviction that bears displayed last week. And that suggests this bounce could be corrective.

The US dollar is testing support and the NFP leading indicators point to a slightly above expectation reading this month, with headline job growth potentially coming in somewhere in the 200-250K range

The US dollar initially fell and indices rose as traders interpreted the Fed meeting and press conference as dovish.

US dollar traders will be watching Fed Chairman Powell’s press conference and any decisions about the central bank’s balance sheet runoff as potential market-movers for the US Dollar Index (DXY)

The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.

How interest rate differentials, scarcity, and falling liquidity could work together to boost the US dollar

The recent consolidation in the US Dollar Index and the Fed’s renewed data dependence could lead to a more-volatile-than-usual reaction in the US dollar.

Price action on the US dollar remains choppy, but the bias remains for a run for 104. And that could weigh on gold as bears eye a run towards $2000.

The US dollar shows the potential to continue higher despite a wall of key moving averages. And according to forward returns analysis, the two days prior to Australia Day tend to bode well for the ASX 200.

The U.S. Dollar plays an incredibly important role in the global economy and while ‘De-dollarization’ claims may pop up, the currency set a fresh all-time-high for usage last year and remains the world’s primary reserve currency.

The US dollar index rallied in line with last week’s bias on assumed short-covering. AUD/USD bears are retuning whilst traders pushed net-long exposure higher, making GBP/AUD longs of interest over the coming weeks.

Gold is currently down -1.8% in January, and I see further downside potential due to the growing case for a stronger US dollar. But that doesn’t mean gold will fall against everything by the same degree, if at all.

Today’s payroll data reiterated the run of strong labor market data with wages growing at 4% a key concern for the Fed. Futures markets reduced the probability of early rate cuts, but traders made few changes to their bullish stance on equities, bonds, gold or the dollar.